The tech essentials guides update members on the latest technology issues affecting the accountancy profession. They aim to bring practical tips and expert insights on a range of topics, setting you up for any action you'll need to take.
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.
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Robotic process automation (RPA) can save organisations' time, with tasks performed with higher speed and accuracy, as well as removing the risk of human error. However, it is not suitable for all processes and, in some cases, could act as a sticking plaster for a system that needs to be re-engineered.
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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.
This guidance will help to shape your thinking on what is possible with add-ons; formulate and clarify firm (and client) expectations; recognise limitations and set boundaries; identify potential benefits and hurdles.
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It is often said that data is the new oil – the raw material that drives industry in so many ways. Like all resources, data needs to be used wisely and protected. This guide looks at protecting data when using outsourced services.
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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’.
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The Essential Guide to the Virtual Financial Director provides examples of how practitioners are providing this valuable service to a range of clients today. By reading the guide you will become familiar with the key concepts and be able to start exploring new services to your clients.
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How do you account for cryptocurrencies? What tax is payable on crypto-transactions? What is the difference between a cryptoasset and a cryptocurrency? What is an ICO? This tech essentials publication provides guidance to help answer some of those questions.
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How to recover in the event of a data breach. This guide draws on expert insights from our volunteers and members, with some very helpful case studies outlining real life examples – one of which is a ransomware example similar to the scenario above, and where the firm did have a backup.
Della Hudson, Consultant, Author of The Numbers Business, and former owner of Hudson Accountants Ltd writes about her experience of automation as a start-up owner.