The rapid advancement of Artificial Intelligence (AI) has profoundly influenced various industries, including accounting, by automating repetitive tasks, improving data accuracy, and facilitating strategic decision-making. This paper comprehensively analyzes AI's implications for the accounting profession, highlighting both opportunities and potential risks. While AI adoption optimizes efficiency and encourages innovation, it raises concerns like job displacement, ethical dilemmas, algorithmic transparency, and data security challenges. Through a multidisciplinary approach, the study examines the necessity of developing strong ethical frameworks, enhancing professional competencies, and promoting cross-sector collaboration to address these risks. The findings emphasize the importance of balanced AI integration to ensure transparency, ethical practices, and sustained professional relevance in an increasingly digital world landscape.