This thought leadership initiative outlines the opportunities and risks for accountants from new and advanced capabilities in data, and highlights practical examples of how the profession is changing as a result of big data and analytics.
Join Mark Taylor and Kirstin Gillon of ICAEW, and Anthony Sayce FCA of EY, for the fourth in our series of Tech Faculty ‘Tech Talks’, this time on the subject of data and the opportunities it presents for practice and business.
The ICAEW Data Analytics community will give you access to a curated programme of digital learning, use cases, subject matter experts and community resources covering all the essential aspects of data analytics. Free to join.
Data – how you get it and what you do with it – has been an important part of the accountant’s role since the beginning; but it is only now, with data exploding in volume, variety and velocity, that accountants can start to add serious value to their business and that of their clients. As the guide says, ‘data analytics can broadly be defined as the use of data to support business decisions’.
This guide is designed to help alleviate some of the fears that lie behind the inertia on data analytics. There is information about how to get started using the resources you already have or to find out about others, and case studies to show how using data analytics has helped some practices already.
ICAEW Data Analytics Certificate programme will help you combine your commercial acumen and business knowledge with data analytics expertise.
Features and articles
As its capabilities grow, Gen-AI is poised to shake up the finance function in general and accountancy in particular – but its risks and drawbacks cannot be ignored.
You may already be on the road to becoming fully automated. But if clients still bring you boxes of receipts and paper bank statements, which you manually enter into systems like Xero and QuickBooks, then it might be time to consider automated data extraction. The question is where do you begin?
Exposure Draft proposes a simple reporting tool to help SMEs respond to requests for sustainability data from business partners such as banks, investors or larger company clients.
HMRC has provided an update on the abolition of the lifetime allowance, as well as information on relief at source and pensions for retained firefighters.
Webinars and recordings
Could bad data be holding your forecasts back? If you want to perform incisive cash flow forecasts and empower your clients to make the best business decisions, you need to have a focus on data quality. In this webinar, we will delve into the impact of good data on your cash flow forecasting. We will consider the processes you can implement today to ensure your clients’ data is captured, processed, and presented in the most effective manner, and look at how Futrli can help.
Join our experts as they tackle your Excel questions, quandaries, and more.
Discover the power of Power BI as we embark on a journey of data visualisation and analysis.
Leverage forecasting and reporting to streamline production and delivery of management information whilst evolving client relationships. A webinar brought to you in partnership with Futrli.
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.
The flow of sensitive information and the number of parties typically interacting in M&A, raising finance or a restructuring can increase the cyber security risk of all those involved. This guide aims to help organisations manage cyber risk and improve its governance, setting out good practice within the context of a corporate finance transaction.
A snapshot of the steps being taken by audit firms to better facilitate fraud deterrence and detection.
Data analytics allows firms to harness data, both internal and external, to provide faster, deeper analysis for better decision-making. These tools offer accountants the ability to track client performance at a more granular level and identify ways to build in efficiencies.
The Library & Information Service provides a hand-picked collection of eBooks as a benefit of membership. If you are unable to access an eBook, please see our Help and support or contact firstname.lastname@example.org
The first of a two-volume series covering Python, a general-purpose programming language, for accounting and business tasks. This volume covers the concepts of Python and select foundational libraries using examples, codes, and accompanying outputs. Examples are tailored to accounting and business use-cases.
Includes examples and case studies that teach users the tricks for analysing data in Excel.
For those new to data analysis. Takes the reader on a tour of Excel's data analysis tools.
Large corporations like IBM and Oracle are using Excel dashboards and reports as a Business Intelligence tool, and many other smaller businesses are looking to these tools in order to cut costs for budgetary reasons.
This book delivers a powerful analysis of the new technological forces buffeting the accounting profession. Using case studies and practical examples, the author demonstrates how big data, blockchain, robotic process automation and artificial intelligence can help accountants adapt to new realities.
This book will help accountants and financial managers better understand big data and analytics, including its history and current trends. It dives into the platforms and operating tools that will help you measure program impacts and ROI, visualize data and business processes, and uncover the relationship between key performance indicators.
This book hopes to provide the reader with an inventory of basic algorithms which can be easily expanded and customized to fit an auditor's specific challenges. Accessible and comprehensive tools for these additional approaches are covered in this book, as are research approaches to take advantage of the additional explanatory power that these approaches offer to auditing. Coverage of software, methodologies, and fit statistics provide a concise reference for the conduct of audits, helping assure that audit opinions and decisions are defensible, fair, and accurate.
This book takes a thoughtful look at how the digital finance industry is evolving. It explains how to integrate digital finance concepts into existing traditional finance platforms and explores what successful companies are doing to maximize their opportunities in this context.
Article discusses openness and transparency in data collection from customers. The authors argue that companies that are open about what they are doing with customer data and offer something fair in exchange are at an advantage over companies that are not trusted with data.
The article highlights the importance of data management and security in today's digital supply chain, where every enterprise is considered a "data enterprise." As companies transition to digitally integrated supply chains, they must prioritize data stewardship, embed data governance and security into their operations, and adapt to changing practices and regulations.
The article focuses on data classification as a pre-requisite for data protection, security, and compliance, and it explores the tools available for data classification, including offerings from major tech companies as well as open-source options. It mentions these tools use machine learning and artificial intelligence to automate data classification, ensuring accurate data management and governance.
Article discusses how Ai-driven decisions have led to discrimination against women and minorities in recruitment, criminal sentencing, medical diagnosis and credit approval and led to thousand of fines under GDPR. An overview of a robust ethical review is given and the 'Five Ps of ethical data handling'
Article explains that descriptive analytics is the process of analysing data to find trends and patterns that support decision-making, monitoring, and other initiatives. It's the most fundamental building block of data analytics.
The article discusses the need for finance leaders to recognize the importance of data analytics to become effective in their roles. The need to ensure that employees work in a culture that sustains collaboration and exchange of ideas and information by leaders is noted. It discusses ways in which management accountants can demonstrate leadership such as competence in financial planning and imparting technical accounting knowledge.
Provided by Tibco this textbook offers support on the application of statistics and data mining. It covers a variety of applications, including: business statistics, credit scoring, forecasting and survey research, data mining and quality control.
Case studies of the use of analytics, searchable by industry, application, benefit or function
This discussion paper looks at the implications of big data, artificial intelligence (AI) and machine learning for data protection, and explains the ICO’s views on these.
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