EU unveils landmark customs reform proposals
Unwieldy sprawl of administrations and IT links to be replaced with single authority in charge of unified data hub, under measures tabled as friendlier to traders.
Artificial intelligence
Discover more about the impact of artificial intelligence and the opportunities it presents for the accountancy profession.
In this section
Features and articles
The implications of AI for tax practitioners
The meteoric rise of artificial intelligence has left many concerned that it could make their jobs redundant. We take a look at what the use of AI means for tax professionals.
How’s the accountancy recruitment market?
Which skills are most sought after by employers, and how can you make the most of the current marketplace?
The necessary foundations for good AI assurance
Artificial intelligence presents the audit and assurance community with many challenges in the fields of skills, standards and ethics, an ICAEW roundtable heard.
Reports
Sharpening the Focus on Corporate Fraud: an Audit Firm Perspective
A snapshot of the steps being taken by audit firms to better facilitate fraud deterrence and detection.
The essential guide to audit tech
There has never been a more exciting time to explore the transformative potential of technology in relation to audit. Tech advances are helping to improve the performance of audit, making it more insightful and informing better conversations in audit teams and with clients.
Risks and assurance of emerging technologies
Cognitive and automation technologies such as artificial intelligence (AI) have drawn a great deal of interest, but also concern about the potential for bias and misuse. ICAEW’s Tech Faculty examines the risks associated with the adoption of emerging technology and how these risks can be tackled through internal controls and assurance.
AI in Corporate Advisory
The Corporate Finance Faculty and Drooms have published the world’s first research about the role of artificial intelligence in deals.
Webinars and recordings
ChatGPT, corporation tax and FRED 82
On the latest ICAEW Insights podcast, we examine how recent developments are affecting the accountancy profession.
An introduction to machine learning
This webinar explores simple examples of machine learning and the opportunities for applying machine learning in your business.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
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Industry press
The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of membership. If you are unable to access an article, please see our Help and support or contact library@icaew.com
ChatGPT bombs accounting class
A recent Brigham Young University study has found that if ChatGPT were a student in an accounting class, it would get a failing grade. ChatGPT has been made for language rather than maths, and during testing did not always recognize it was performing mathematical operations. The questions fed to ChatGPT covered accounting information systems, auditing, financial accounting, managerial accounting and tax.
Accounting's first crowd-sourced study tackles ChatGPT in education
The ChatGPT AI chatbot has been tested on accounting exam questions against the performance of accounting students at 186 institutions. The results show AI doesn't outperform accounting students quite yet, but educators must adapt to rapid change in academia and practice.
GPT-4 rolls artificial intelligence tanks onto accounting’s lawn
Article discusses ChatGPT's recent steps towards the accountancy profession and when it comes to the work accountants currently do, where are its limits and are there opportunities for firms or vendors looking to ride the AI wave?
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Useful links
State of AI in the Enterprise
Deloitte's fifth edition of the survey of executives to their sentiments and practices regarding AI technologies.
See also: 4th edition; 3rd edition; 2nd edition.
Establishing a pro-innovation approach to regulating AI
Policy paper from the Department for Digital, Culture, Media & Sport, Department for Business, Energy & Industrial Strategy, and Office for Artificial Intelligence on the UK's emerging approach to AI regulation.
A European approach to artificial intelligence
European Commission hub page for Europe's approach to AI, focussing on 2 areas: excellence in AI and trustworthy AI. The main publications are Proposal for a regulation on artificial intelligence; Strategy on artificial intelligence; Coordinated plan on artificial intelligence 2021 review
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