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HK accounting firms plan to boost hiring in 2026, expand AI use
Hong Kong accounting firms are planning to boost hiring in 2026 while increasing the use of AI, according to industry leaders.
KPMG China and other major firms said they do not expect AI to replace human staff and have not reduced hiring as AI adoption grows.
KPMG China, one of the city’s largest accounting firms, said AI is being used to improve efficiency and support staff in new job roles, particularly in areas requiring data analysis.
Deloitte China announced plans in October to hire around 1,000 people in Hong Kong and invest HK$500 million (US$64 million) over four years to expand its fintech, capital markets, and AI capabilities.
Hong Kong’s government is supporting AI development through funding and early-career training initiatives.
🔗 Source: South China Morning Post
🧠 Food for thought
Implications, context, and why it matters.
AI use in accounting rises with governance and ethics in focus
- Firms are building AI skills, while Hong Kong guidance keeps stress on governance, human checks, and privacy 123.
- Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) sets guidance on AI governance and data security, plus frameworks for ethical use 13.
- Generative AI (GenAI) helps with expense automation plus anomaly spotting, yet “black box” models limit audit trails or accuracy checks, so ethics with governance stay central 14.
- Only 8% of tax firms and in-house tax teams use GenAI today, while 30% are still weighing adoption 2.
Insolvency surge opens space for AI tools in restructuring
- Bankruptcy applications reached 871 in May 2024, the highest monthly level in two years, which signals more restructuring work 5.
- Fintech plus legal tech vendors can offer AI insolvency analytics, debt workout modeling, or liquidation workflow automation to Hong Kong’s Big Four (the four largest global accounting firms) along with mid-tier firms.
- There were 3,797 bankruptcies in the first five months of 2024, up 25% from 2023 65. Some banks report 60% plus surges in overdue loans, which backs demand for data that flags distress and improves recoveries 65.
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