Building a data strategy
Kirstin Gillon summarises the key points from the Tech Faculty’s recent webinar on creating a data solution that works for your business.
IT management
Good IT management is essential to achieving value from IT systems and managing the risks associated with them. IT management covers the full lifecycle of systems, from the initial decision to invest in a system through its operational life until it is no longer needed and ultimately decommissioned.
In this section
IT infrastructure
Adapting technology and security for homeworking
Lesley Meall examines the questions that remain about the technology required to support post-pandemic hybrid working – and whether accountants can adapt to the changes.
My system is down - what do I do now?
In the last couple of weeks, a significant number of accountants, their clients and businesses will have been affected by “major outages” with cloud accounting software.
Tax news in brief
Highlights from the broader tax news week ending 3 February, which includes: a restrained Scottish Budget in light of the coronavirus pandemic and HMRC publishes a Brexit edition of its Agent Update with guidance on postponed VAT accounting.
IT governance and strategy
Helping your business stand out with onboarding tools
Jessica Pillow of Pillow May chartered accountants considers the different tools available for onboarding clients into your growing cloud practice, including examples with GoProposal and Practice Ignition.
Data protection and privacy
All organisations that collect, store or process personal information on living and identifiable people must comply with the Data Protection Act 2018. Additional resources can be found on the GDPR (now the Data Protection Act 2018 in the UK).
5 things to think about when considering your IT options
Factors to consider when choosing IT infrastructure and systems for your practice.
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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
Reskilling for AI
Article discuses how millions of workers may need to be reskilled in the face of ever quickening technological advances and that although companies have a crucial role in addressing this challenge, many have yet to take it seriously. Leaders at 40 organisations that re investing in large scale reskilling projects are interviewed.
Impact of generative AI on the datacentre
The article discusses the impact of generative artificial intelligence (AI) on datacentres. It exploring concerns about power consumption, resource requirements and security implications; the potential benefits of generative AI in improving efficiency and productivity; and also caution about the need for careful implementation and transparency in AI and machine learning projects within datacentres.
Getting data sorted
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.
Distributed ledger technology: cutting through the paradox
Article discusses how distributed ledger technology (DLT) is expected to accelerate its transformation of the financial services industry but legal and regulatory frameworks for financial services have taken time to adapt. The author argues that it is essential that legal systems grappling with digital assets are mindful of the risks and pitfalls of inconsistency with other legal systems and a consistent application of governing law should be considered.
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Useful links
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.
The Future Of Accounting: How Will Digital Transformation Impact Accountants?
Forbes article which looks at the future role of accountants and the skills they will require.
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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