The increasing application and development of digital technology brings numerous changes in business environment, with special emphasis on the necessary changes in business models and their adaptation the digital age. In order to survive on the market and remain competitive, business entities must digitally transform your business. The accounting profession is a traditional profession and accounting rules and principles have been established and the same for many years. However, globalization of business, stricter regulations and numerous technological solutions do not bypass these innovations nor the accounting profession. The challenges for the accounting profession are reflected in the need for speed adaptations and transformations of business practices and business processes without leaving the basics accounting rules and principles. The aim of this paper is to analyze and break down the key challenges that digitization brings for accounting. The results show that the accounting profession faced with numerous challenges in the age of digitization. The key challenges could be in use big data in accounting and reporting, accounting in the cloud, artificial intelligence and blockchain technology. Changes in technology and digitization will have a significant impact impact on the accounting profession in the coming period. Changes are coming daily reporting, differences in the way business and strategic plans are made, implementation of digital wallets and online accounting as well as accounting outsourcing at a distance. The education system will change in the circumstances of the growing digitization of business. Also, in the era of digitization, the users of accounting information are also changing; they want accounting information immediately after a business event, not with time at a distance. These changes will affect the way accountants do their jobs, they will necessary knowledge of new skills which will consequently lead to new types of accounting experts.