ChatGPT Took Our CPA Public Accounting Test

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With the rapid emergence of AI in our daily working lives, we wondered what would happen if we got ChatGPT to sit our CPA Public Accounting Test.

ChatGPT scored 29/40 on the test – putting it on the 93^rd percentile. So in the top 7% of CPA’s in our norm group for this test. See ChatGPT's test report here. We’re going to deep dive into the issues over the next few weeks, but a few initial thoughts jump out:

1)   ChatGPT is pretty good! Anything technical where there are some facts and assumptions, it can figure out. It falls down when a deeper level of business knowledge is required

2)   If you’ve been worried about candidates ‘Googling the answers’ they can now ‘ChatGPT the answers’ – or just ask a friend to take the test for them. For remote testing this is the same issue as always, and proctoring is the solution (which is possible for all of our skills tests – just ask us to show you how).

3)   Why do we need candidates to prove technical knowledge if they can use ChatGPT? Same question as yesterday when they could use Google. Knowledge enables our teams to ask the right questions, get information and read body language – once all the facts are together AI (or Google) can help double check we’re right, or provide further ideas. But you can’t revert to AI when you’re on a Zoom with a client helping them with their business problems (at least not if you want to be paid!).

4)   Accountants have been classed as 100% exposed to AI taking their jobs. The reality is it’s another step in the evolution of the profession. Those who know enough to ask good questions and work with a client to solve business problems will never be without a job. But the opportunities to further increase job satisfaction by reducing mundane work as well as improve quality are certainly there.

More to come….

About the Authors

Giles Pearson FCA was a PwC Partner for 18 years before jointly setting up Accountests.  

Steve Evans has a whole career dedicated to enabling employers to attract, recruit, develop and retain talented individuals and teams, with particular expertise in candidate testing and assessment before setting up Accountests.

Accountests deliver the world’s only online suite of annually updated and country-specific technical knowledge tests designed by accountants for accountants and bookkeepers.