Tidyflow’s Post

https://lnkd.in/gcmPP9Ft Many industries are finding AI can speed up and/or enhance their work and productivity, but how can regulated services like finance and insurance ensure they remain compliant? The latest blog from our sister company PeopleClear™ SMCR looks at the new voluntary Code of Conduct for Insurance: https://lnkd.in/ezhSWiZn And if you're using AI in your organisation, tell us more in the comments... #AI #RegulatedServices #PeopleManagement

Discovering the Fusion of AI, ML, Finance, and Accounting: Embracing Innovation while Upholding Ethical Values. Dive into our latest article to explore how traditional principles intertwine with modern technology in F&A models. #AI #ML #Finance #Accounting #Ethics #Innovation

"They can get through some of the laborious, time-intensive tasks to actually get into the value of doing the analysis, the output and the interpretation." With the risk of costly fines for audit failings, more accounting firms are harnessing #AI to analyse data at a much larger scale and perform better risk assessments and analysis, whilst also freeing up employees to focus on more subjective decisions and relationship management. Via BBC News https://lnkd.in/gcmPP9Ft #deeplearning #fintech

The advent of Artificial Intelligence is causing concerns in a range of areas from loss of customer service and even jobs. The Financial Reporting Council (FRC) have raised concerns with Britain’s biggest auditing firms and professional accountancy bodies about the potential use of AI in exams. This is not an unreasonable concern given KPMG's recent fine for staff and partners colluding in exams including those on ethics #AI #Accountants #chatgpt https://lnkd.in/eGDzsvsx

---New Report---Generative AI in Professional Services: Explore how professionals in legal, tax & accounting, risk & fraud, and government operations perceive the use of GenAI in their work. Discover how more than 1100 respondents see this technology impacting a wide range of work attributes such as efficiency, billing, and job loss. It’s evident that the age of GenAI is upon us, and many professionals are ready to advance with the technology. Explore key findings › https://lnkd.in/esdJb9Hh

The integration of AI in accounting presents a transformative opportunity for Chartered Professional Accountants (CPAs), but it also brings significant ethical challenges that must be navigated carefully.

While AI is not widely popular in audits just yet, practitioners must keep their fingers on the pulse as the technology develops. Consider how AI is impacting operations at the client level, but also consider data sensitivity and the need for continuous professional skepticism when leveraging AI during the #audit. https://ow.ly/oL8z50QzVMu

In an interesting article by Tom Herbert at AccountingWEB, Caseware’s launch of its AI-driven assistant AiDA into the UK market highlights how the tool aims to enhance efficiency for auditors and accountants, particularly in the face of growing compliance demands. AiDA, designed to work across all Caseware products, allows users to interact via natural language prompts, helping them summarize documents, answer compliance questions, and draft reports such as audit procedures. Unlike other AI tools, Caseware emphasizes that AiDA is a digital assistant, not a "co-pilot," meaning auditors must still apply their professional judgment. Security is a key focus: AiDA does not store or share user prompts, safeguarding client confidentiality and avoiding potential biases. By relying solely on Caseware's curated content, AiDA ensures accuracy while providing significant efficiency gains for modern auditing and accounting tasks. Congrats to everyone involved! Full article in the comments!

The integration of AI in accounting presents a transformative opportunity for Chartered Professional Accountants (CPAs), but it also brings significant ethical challenges that must be navigated carefully.

Hot Topic of 2024: Integrating AI in Public Practice Accounting Within the Public Practice Accounting, a transformative wave is sweeping through, driven by Artificial Intelligence (AI). Recent observations and conversations with clients reveal a 2024 hot trend: accounting firms, including those in Brisbane and across Australia, are increasingly integrating AI into their day-to-day operations. Leading firms like Deloitte, PwC, KPMG, and EY are at the forefront, harnessing AI to revolutionize traditional accounting practices. From Deloitte's "Cognitive Analytics" to PwC's AI-powered auditing tools, these companies employ advanced algorithms to enhance audit quality, improve risk assessment, and provide deeper insights into financial data. Additionally, KPMG and EY leverage AI for various accounting functions, including tax preparation, financial forecasting, and compliance. Their AI-driven platforms enable faster data processing, real-time insights, and predictive analytics, empowering them to meet client needs more efficiently. To all Accounting & Finance professionals within my network: What are your thoughts on the integration of AI into your field? How has it impacted your work, and what opportunities or challenges do you foresee? 👀 Let me know your thoughts! | josephine@people2people.com.au Hitendra Patil wrote a book on how AI affects the future of Accounting, it has a 4.6/ 5 stars rating on Amazon U.S. in case anyone in my network is intrigued. #brisbanejobs #publicpracticeaccounting #publicpractice #AI #ArtificialIntelligence #AIAccounting #charteredaccountant #charteredaccountancy #accountingfirm #accountingandfinance #brisbaneaccountants #CPA #ACCA #CIMA #CMA #hottopic #UKaccountant