That is not true. I know of many private equity companies that are using LLMs for a base level analysis, and a separate validation layer to catch hallucinations.
LLM tech is not replacing accountants, just as it is not replacing radiologists or software developers yet. But it is in every department.
The accounting department does a large number of things, only some of which involves precise bookkeeping. There is data extraction from documents, DIY searching (vibe search?), checking data integrity of submitted forms, deviations from norms etc.
LLM tech is not replacing accountants, just as it is not replacing radiologists or software developers yet. But it is in every department.