How much is technology transforming the quality of audit? David Lyford-Smith shares his thoughts and looks at what reviews, reports and other resources are revealing.
Features and articles
30 October 2020: With artificial intelligence promising to be a gamechanger for accountancy, what’s the right approach for accountants looking to incorporate AI into the mix? Mark Blayney Stuart investigates.
Research is revealing the benefits of automating finance functions for accountants in India. Technical manager Kristen Gillon looks at the importance of mindset and involving staff with technological change, and discusses the fears that robotic process automation may result in fewer jobs.
Next-generation data and artificial intelligence are innovative tools for accountants. Kristin Gillon looks at strategies and opportunities to mitigate the barriers across the profession.
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.
The Corporate Finance Faculty and Drooms have published the world’s first research about the role of artificial intelligence in deals.
To find out how businesses and accountants are approaching this powerful new technology, we partnered with the Shanghai National Accounting Institute and Inspur to talk to IT, operations and finance professionals across China, which is playing a leading role in the development of the IoT.
This thought leadership report provides a rare insight into how digital transformation is being managed in practice across a range of different business settings, and highlights pertinent considerations for leaders undertaking their own transformation projects.
Webinars and recordings
There is a lot of hype about AI at the moment, but to what extent are accountants really making use of AI?
Technology is transforming audit.
Finance in a Digital World
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The article offers information on how artificial intelligence can help storage management. It mentions Storage hardware monitoring is well established, with tools that gather data on volume usage and equipment performance, but also environmental data, temperature, power consumption and component-level readings from drives; and the more advanced tools can make recommendations to optimize performance and utilisation.
The article discusses how management accountants and other professionals are leveraging new technologies like data analytics to resolve issues created by the COVID-19 pandemic in their professions. Also cited are the digital strategies that can be used by professionals and businesses like cloud computing, Internet of Things (IoT), big data, and natural language processing, and how data analytics can be used in sectors like healthcare, finance and accounting, and retail.
Article discusses the advances in Machine Learning which helps AI to make predictions, allowing big companies to improve their products. It look at the challenges, how companies can get ahead and how latecomer organisations can catch up.
Each year Deloitte publishes its Global Robotics Survey where it asks businesses around the world about their awareness and implementation of RPA.
Report from the FRC's Financial Reporting Lab which covers background on Artificial Intelligence (AI), what it is and how it has developed and some of the potential use cases that AI has for corporate reporting. Some actions for all those involved in corporate reporting are given as recommendations.
Response to the Lords report 'AI in the UK: Ready, Willing and Able' which gives the Government's recommendations and plans for Artificial Intelligence in the UK
House of Lords Select Committee on Artificial Intelligence report of session 2017-19 whose 'recommendations are designed to support the Government and the UK in realising the potential of AI for our society and our economy, and to protect society from potential threats and risks'.
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