Accounting firms embrace tech: Caseware study reveals increased investment plans.

Investing in technology is a key priority for accounting firms as they move into 2024, according to a report by Caseware International. The report found that 77% of firms plan to increase their technology budget over the next two years, with 10% of respondents identifying generative AI as a top area of software investment for 2024. Engagement software, such as audit and tax tools, was also identified as a top area of investment by 21% of respondents. However, accounting firms continue to face challenges when it comes to hiring and retaining talent, with 88% of survey respondents saying it is challenging to some degree. To address this issue, firms are offering training programs, creating new roles and capabilities, and using third-party talent sourcing services