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How Artificial Intelligence is Revolutionizing the CPA Practice

CPA Practice

Here, the responsibilities of accounting firms increase as they are required to authenticate every bit of data coming from AI systems. Accounting firms must manage and maintain their data systems to provide reliable inputs to AI algorithms while complying with data privacy regulations. What is next?

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How technology has impacted accounting—from compliance to strategy

ThomsonReuters

From increasing accuracy to optimizing tax workflow to freeing up time for more value-added activities, technology has transformed the accounting industry—for the better. Accounting firm technology trends. Today, automation is the name of the game. So how does automation work at an accounting firm?

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Friday Footnotes: How Are Firms Actually Using Data Analytics?; KPMG and BDO on the Move | 9.15.23

Going Concern

A number of accounting firms,1 public companies, professional membership associations and other key stakeholders raised concerns. In addition, in a rare occurrence, PCAOB board members Christina Ho and Duane DesParte — the only two certified public accountants on the board — issued public dissents when the PCAOB issued the proposal.

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Clients Want Actionable Data, Not Impossible-to-Parse Spreadsheet Dumps

Going Concern

That’s not a conversation, it’s a terrible game of.xlsx ping pong. These innovative solutions connect to cloud accounting platforms like Quickbooks and Xero, payroll systems, and even non-financial data sources like Salesforce and you can import data from spreadsheets, too. Enter FP&A platforms.

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23

Going Concern

The London-based global accounting firm officially known as PricewaterhouseCoopers International is in talks to lease three floors at a new office building at 3155 Olsen Drive, across from Santana Row in West San Jose, the San Jose Mercury News reported, citing unidentified sources. KPMG offered video game training to some employees.

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Spend Management is the Next Focus for Client Accounting Services

CPA Practice

Accordingly, spend & expense management is an area with significant growth potential for accounting firms — particularly those looking to jumpstart their CAS practice. Despite the need for expanded expense management solutions, less than half (41%) of SMBs said they already outsource expense management to their accounting firms.

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Meet five apps creating new ways to do business in 2022

Xero

Accounting advisory services have long been bespoke, expensive, and difficult to resource. This means they’re often only offered to the top 10-20% of clients in a typical accounting firms. Today, XBert helps business-owners automate everything from compliance to payroll, helping its users grow at an astonishing pace.