This week at The Briefcase, we thought we’d take a week off and let our authors do the writing for a change. So, we sent them two questions to get their expert advice, and to give our readers something to think about in the year ahead.

Unfortunately, we forgot just how helpful, knowledgeable, and enthusiastic our authors can be. So this is a long one, and it’s only the first part of two!

We began by asking them, what’s one trend, challenge or opportunity accountants should watch in 2026?

Here's what they had to say

Steve Collings, Director at LWA, responded:

I would say an increase in the use of technology, particularly AI. Technology in accountancy is moving at a very fast pace, so I expect it to progress really quickly in 2026.

Michael Harris, financial crime risk consultant, said:

In 2026, the key trend is regulators will be expecting accountants to demonstrate risk intelligence, not just AML compliance. Firms that rely on static, checklist-based approaches will struggle to keep pace with increasingly complex ownership structures, AI-enabled fraud, and faster-moving financial crime risks.

Inclusion strategist Mo Kanjilal told us:

With world events and uncertain markets, accountants should be looking widely to see what is happening in different markets that will affect the financial picture. We are likely to see pressures on the economy, and companies making decisions to delay hiring decisions or look to see what technology can help instead of taking on more people.

Alistair Corrie, expert in business agility, said:

Learning to be vigilant and bold rather than defaulting to "no”. Accountants are brilliant at identifying risks, but too often the response can be to block action rather than enable it safely. The real opportunity lies in involving everyone across the organisation as risk sensors (to be vigilant), so that we can all spot and deal with risks and issues as they arise, leaving everyone freer to focus on opportunities (to be bold).

Executive coach Helen Tuddenham told us:

As an opportunity, I would think most about what value you could be adding to your organisation that you don't already add. This may involve looking at different sets of data (or even themes across multiple data points) or providing a different type of analysis. Ask teams what they want you to do that you don't do already. This may involve going out of your comfort zone, but will also help to future-proof the value of the finance team.

John Taylor, former lecturer at Leeds Metropolitan, responded:

The obvious one is the expansion of AI into the profession, but I would consider the increased use of cryptocurrencies something to watch out for. This presents security and risk issues safeguarding digital wallets, and audit problems in valuing any investments organisations hold. It is becoming increasingly popular because of the traceability of transactions through the blockchain. The result is that, if somebody steals your wallet, you can watch it disappear! Crypto is complicated so individuals need to know what they are doing – it’s far more volatile than foreign currency trading.

Mark Crowter, CEO of Galloways Partners, said:

We can improve the client experience like never before. Access to industry research, finding time efficiencies through improved software solutions or AI tools means that more of our focus can be on the client rather than on doing-the-doing. That means we invest more time than ever before on really moving the needle on client service.

The challenge that runs hand-in-hand with this is that if we see only the opportunity to save time and make a few more quid out of each of our clients, then we’re going to lose out over the long-term as people look for providers who base their model on stronger relationship or being able to share better insight.

Lean expert Ross Maynard told us:

AI has been a hot topic in accountancy for a while but, in 2026, I think it will become more substantive. The developers of finance systems will release tools that go beyond simple analysis to much more impactful features – reconciliations, journal entries, variance analysis, even drafting financial reports.

These tools might require us to rethink what being a "good” accountant means – moving from having an unnatural skill to balance a balance sheet to becoming a business partner and strategic advisor. A skills gap might emerge between the future-ready accountant and the traditional practitioner, with transactional bookkeeping roles increasingly at risk.

Host of our monthly webinar, Lisa Weaver, explained:

Risk and uncertainty’ is going to be a key feature of 2026. We are likely to see disruptions to business, which are likely to arise from regional conflicts, economic sanctions, energy security concerns and political tensions. For accountants, this creates challenges – business planning and forecasting is much more difficult in this uncertain environment.

However, there is also opportunity. Accountants can help to create future-facing models, apply rigour and use controls to support realistic sensitivity analysis, and to use an old-fashioned word, apply a bit of ‘prudence’. In other words, they can bring caution and discipline to risk assessment and help to strengthen risk disclosures.

Tax expert Andy Rainford responded:

Speak to your clients about succession planning. The changes to business property relief (in the United Kingdom) should open the door to having a proactive discussion with business owners (who should be receptive), especially now we have some certainty.

The good news for wealthy non-business clients is that the higher limit of £2.5 million means qualifying investments are back on the table, with 100% relief after two years – better than the general seven-year survival for potentially exempt transfers. But remember that AIM shares will only qualify for 50% relief, even below the £2.5 million, so it’s a good time to revisit existing holdings and make changes if necessary – although 50% is still better than 0%!

ICAEW past president Julia Penny explained:

The increasing impact of technology, especially AI is, for me, likely to be one of the key trends, challenges and opportunities all in one. Learning how to use a new piece of tech, deciding what versions of AI tools to invest in, integrating AI tools with the rest of your workflow, working out what impact all of this will have on your staffing levels, fees and more is going to be hard work.

And this is on top of everything else that is going on – such as tax authorities increasingly going digital, local and international financial reporting standards changing, helping businesses to recognise where they have sustainability risks, and just keeping up with the day to day demands of work. I don’t think it is going to be a quiet year!

Wayne Bartlett, IFRS guru, told us:

How to make the most of AI. There are some interesting dynamics here. No doubt AI has some very important attributes that should and are being taken advantage of. At the same time, it is not a panacea. Reading a report recently, there are concerns at the cost of AI mistakes in the finance sector.

From a different field, West Midlands Police have been in trouble recently for banning away fans in a recent Aston Villa football match. The trouble was that one of the matches West Midlands Police used as evidence was an AI invention, which called into question the depth of their research. There is a need to seek corroborating evidence before relying on what AI might tell you.

Our expert on Irish tax, Mairead Hennessy explained:

We’re likely to see a continued increase in Revenue compliance activity so accountants need to be vigilant of potential risk areas for their specific profile of clients.

Many businesses currently have excess cash on their balance sheets as a result of strong trading performance over the past few years. This is a good problem to have in many ways, but it can present challenges. For instance, when these businesses decide to sell or gift their operations, the surplus cash can complicate matters from a tax perspective. Accountants will play a crucial role in advising clients on how to manage this excess cash to maximise value and ensure a smooth transition.

Additionally, there's a substantial opportunity for businesses when their corporate structure is re-evaluated and changed. Accountants can provide invaluable guidance in restructuring efforts, ensuring that businesses are optimized for growth, tax efficiency, and overall financial health.

Finally, economist Jim Power responded:

The key trends and challenges in 2026 are likely to be very similar to 2025 – intense global geoeconomic and geopolitical uncertainty. The situation in Greenland and the tariff threats of President Trump show that the unpredictability of the US administration is intensifying, rather than easing, as we pass the first anniversary of President Trump's inauguration.

For any business engaged in international trade, the risks posed by future tariffs and supply chain vulnerabilities are likely to remain intense. If President Trump had followed through with the Greenland-related tariff threats, the EU response would have to be aggressive, prompting fears of a serious global trade war, which would be bad for the European and US economies. The situation appears to have been resolved, although there are doubts about the Greenland framework that has been agreed.

The big opportunity in 2026 will be presented by the benefits of AI developments. Interest rates in the US and UK are likely to fall further, and the possibility of an all-out trade war could convince the ECB to cut again.

🧠 Final thoughts

So, 2026 might be much of the same, but also might completely change the game. With developments in financial crime, AI lying to you, and someone in the White House with a big personality, there’s a lot to think about, and even more to worry about.

But if there’s one thing our contributors agree on, it’s that these challenges are opportunities to step up and lead better. With a forward-thinking mindset, we can deliver some much-needed change. And, if you want to know more about what these authors think, each one of them has delivered hours of learning for AccountingCPD. We’d recommend looking into it – could be interesting.