Aon | Professional Services Practice
GRMS 2025 as a Guide to Top Accounting Firm Risks
Release Date: February 2026The professional service firm results from Aon’s Global Risk Management Survey 2025 highlight a dynamic, interconnected risk landscape. PSP uses the leading current and future professional service risks to highlight risk implications for accounting firms.
Key Takeaways
- Cyber and AI Risks Are Intensifying and Interconnected – cyber risk remains the top threat for professional service firms, with AI acting as both a transformative tool and a risk amplifier
- Talent and Reputation Are Central to Resilience – attracting, retaining, and developing talent is a vital challenge, especially as AI reshapes traditional training models and workforce expectations
- Economic, Regulatory, and Competitive Pressures Demand Agility – accounting firms must navigate changing economic conditions, shifting regulatory priorities, and disruptive technologies
Professional Service Firm Top Ten Risks
- Cyber Attacks/Data Breach
- Failure to Attract or Retain Top Talent
- Damage to Reputation/Brand
- Economic Slowdown/Slow Recovery
- Artificial Intelligence (AI)
- Regulatory/Legislative Changes
- Failure to Innovate/Meet Customer Needs
- Increasing Competition
- Business Interruption
- Data Privacy (incl. GDPR) Requirements/Non-Compliance
Professional Service Firm Top Five Future Risks
- Cyber Attacks/Data Breach
- Artificial Intelligence (AI)
- Economic Slowdown/Slow Recovery
- Failure to Attract or Retain Top Talent
- Increasing Competition
Cyber Risk: The Universal Threat
Cyber Attacks/Data Breach is the top-ranked current and future risk for professional service firms. Firms face ransomware, data breaches, and the rise of hacktivism and insider threats, risks amplified by geopolitical and economic volatility. For accounting firms, the threat is compounded by the highly sensitive data they manage and the risk of class action lawsuits following breaches.
Human Capital: Talent, Training, and Transformation
Failure to Attract or Retain Top Talent is the #2 current and #4 future risk for professional service firms. Accounting firms face acute human capital challenges, including a declining talent pipeline and the impact of AI on traditional training, the apprenticeship model and culture. The ability to upskill and reskill teams is now a core element of resilience.
Reputation: Under Scrutiny
Damage to Reputation/Brand is the #3 current risk for professional service firms. Accounting firms face the constant scrutiny of the media, regulators, and investors. Firms are susceptible to reputational events such as high-profile litigation, ethical questions around exams and Al-related mistakes in client deliverables. Duty of care, (with Data Privacy (incl. GDPR) Requirements/Non-Compliance current risk #10) and client acceptance are attracting scrutiny, making proactive reputation management essential.
Economic and Geopolitical Volatility
Economic Slowdown/Slow Recovery is the #4 current and #3 future risk. Accounting firms are navigating unpredictability, political volatility, and the weakening of globalization, all of which fuel cyberattacks, trade wars, and sanctions. These factors also contribute to fraud, financial crime, and potential increases in insolvencies and corporate failures. Business Interruption as the #9 current risk demonstrates that firms are worried about physical, economic, geopolitical, cyber and regulatory events leading to work stoppages and loss of revenue.
AI: Amplifier and Disruptor
Artificial Intelligence (AI) is current risk #5 and future risk #2 in the professional services risk ranking and is rapidly transforming the accounting profession, as firms make significant capital investments in AI capabilities. AI is acting as a risk amplifier, impacting cyber, human capital, reputation, and regulatory risks. The use of AI agents in client interactions, auditing AI outputs, and the risk of employee misuse all require close attention to governance frameworks and controls.
Regulatory and Legislative Changes
Regulatory/Legislative Changes is current risk #6. Given that accounting firms operate in multiple jurisdictions, they are subject to evolving enforcement priorities and associated levels of scrutiny from a variety of regulators. There have notably been recent record fines in China, India, the UK, and the U.S.
Disruptive Technologies, Innovation, and Competition
Failure to Innovate/Meet Customer Needs (current #7) and Increasing Competition (current #8 and future #5) are crucial risks as accounting firms invest heavily in AI, pursue acquisitions, and adapt to new international structures and private equity involvement. The ability to embrace disruptive technology and reimagine service delivery will shape future success.
Conclusion
The risks facing accounting firms - cyber, human capital, reputation, economic volatility, AI, regulation, and competition - mirror those of the broader professional services sector.
Firms that respond with agility, invest in innovation and talent, and prioritize risk governance will be well positioned to thrive in the years ahead.
Contact
The Professional Services Practice at Aon values your feedback. To discuss any of the topics raised in this article, please contact Audrey Jenner , Daniel Hacikyaner or Rona E. Davis.
Audrey Jenner
Vice President and Director
Montreal
Vice President and Director
Montreal
Rona E. Davis
Senior Vice President and Executive Director
Montreal
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