Gary Wallace Quoted in Virginia Business: Accounting Firms Increasingly Embrace AI Tools

Keiter’s Strategic Adoption of AI in Accounting

Keiter Managing Partner Gary Wallace was recently featured in a Virginia Business article, “Accounting firms increasingly embrace AI tools,” highlighting how artificial intelligence is reshaping the accounting profession across Virginia.

As firms navigate rapid technological change, Wallace shared Keiter’s thoughtful and strategic approach to adopting AI – balancing innovation with the firm’s longstanding commitment to accuracy, security, and client service.

AI adoption among accounting firms has accelerated significantly, rising from 9% in 2024 to 41% in 2025, according to the Wolters Kluwer Future Ready Accountant report. While larger firms have led the way, mid-size firms like Keiter are taking a measured approach – embracing innovation while carefully evaluating risks and benefits.

Wallace emphasized that while AI presents exciting opportunities, it must be implemented responsibly.

“Security is paramount, but accuracy is probably the biggest challenge,” Wallace noted. “How do we best use these tools to help our team be able to work better but also help our clients reach better decisions?”

At Keiter, this means being selective about the tools the firm adopts and establishing clear protocols for their use. For example, the firm has incorporated Microsoft Copilot into certain workflows, while maintaining transparency by documenting when AI-assisted outputs are used and ensuring all results are reviewed by professionals.

“We’re not going to just accept what’s spit out as output,” Wallace said, reinforcing the importance of maintaining a “human in the loop.”

Beyond operational efficiencies, Wallace also pointed to AI’s potential impact on the future of the profession – particularly in addressing ongoing talent challenges. By automating routine tasks, AI allows team members to focus on higher-value, strategic work while also making the profession more appealing to tech-savvy candidates.

At the same time, Keiter recognizes the importance of preserving foundational learning opportunities for early-career professionals, ensuring they continue to build critical thinking and problem-solving skills.

As the accounting industry continues to evolve, Keiter remains committed to leveraging emerging technologies in a way that enhances both the employee and client experience – while staying grounded in the firm’s core values of collaboration, innovation, relationships, and accountability.