smallest firms plagued most by growing tax complexity.
via aicpa
staff recruitment remains the top issue for most cpa firms, while growing tax complexity and risk management regarding privacy and data security are rising challenges, new research by the aicpa shows.
“finding qualified staff” is the no. 1 issue for every firm-size segment except sole practitioners, according to the 2019 pcps cpa firm top issues survey, matching the topline results from the last survey two years ago.
how human-centric artificial intelligence will help.
by hitendra r. patil and eli fathi
artificial intelligence is set to transform many professions. as ai shifts from news and hype, it will significantly change how people work in their jobs.
the internet and cloud technologies transformed the workplace. similarly, ai will refine, reshape and even replace many of the tasks we do every day. read more →
that is the question for accounting and audit firms looking toward the future. there is a lot of fear, uncertainty, and doubt regarding the availability, adoption and use of artificial intelligence-based systems. there is even some misleading information within the broader community of accounting and audit tools.
a wide range of claims and news can be found online, from ai “not being ready” for accounting, to questioning the benefits of artificial intelligence. vendors stating their solutions are ai-enabled may be adding to the confusion. read more →
it’s all about transition. the transition of leadership feels like it’s peaking at a lot of firms. if firms aren’t on the tail end of a transition, they’re in the middle of it.
let machines crunch the data. you provide the insight.
by hitendra r. patil and eli fathi
you are already riding the ai wave to some extent because, most likely, your car has some ai built into it. you ride it to work. how about riding artificial intelligence at and in your work?
in today’s economic environment, it’s not enough to offer services in the same way that it’s always been done and hope that business will thrive. many accounting firms are embracing new technology, such as robotic process automation, cloud-based analytics and dashboards to offer a competitive edge but the industry has come to a crossroads. while these computer-assisted and rules-based tools are considered the norm, ai and machine learning solutions are driving the leading edge. read more →
technology can help simplify the complexity of technology itself.
by hitendra r. patil and jeffrey lush
businesses the world over rely on outsourced services, like accounting, to keep themselves ahead in the game, be profitable, efficient and to limit risk.
in “the why, what and how of cybersecurity for accountants,” we covered the fundamentals to enable accountants get a quick understanding of cybersecurity to help explore the new opportunities that are emerging in the cybersecurity services segment. in this post, we’ll explain why it may not be really necessary for accounting firms to have specialist technology resources to foray into cybersecurity opportunities.
jeffrey lush is ceo and co-founder, bap solution, a cybersecurity firm lush is known widely as a passionate technologist with more than 34 years of it experience. before serving as ceo for bap, he worked as the cto for both hpe and dell federal. lush’s us federal experience includes serving as the executive chief technology officer for the us department of veterans affairs. he has served on us presidential workgroups focused on cyber and has extensive knowledge of cybersecurity standards and policies throughout the globe, with a focus on us federal policies to include nist, fisma, fedramp, dfars, pci, and hipaa.
it is no secret that cybersecurity continues to top the list of business concerns for businesses of all sizes. small independent business, mid-size business and large organizations can all be impacted by a cyber attack.
dec. 6: “bracing yourself for 2019, what you need to know”
卡塔尔世界杯常规比赛时间 authors becky livingston, hitendra patil, and ed mendlowitz will be peering into the new year and beyond when they headline a panel at the the accountants club of america in new york.
20 key concepts for now. 5 key questions for the future.
by hitendra patil
accountaneur
social media. big data. automation. artificial intelligence. machine learning. there is already a lot of technological impact on the accounting profession. now comes blockchain.
how practical, affordable ai is already transforming accounting.
by hitendra r. patil and eli fathi
fathi
co-author eli fathi is ceo at mindbridge ai, developer of the world’s first auditing tool based upon artificial intelligence and machine learning technologies – the ai auditor – to uncover errors in financial data. he attended algonquin college and the university of ottawa, where he earned a master’s degree in engineering. fathi has been a technology entrepreneur for over 30 years, having founded or co-founded numerous technology companies including fluidware corp. he currently sits on the boards of the ontario chamber of commerce, start-up canada, and c-com, a company that develops satellite-based technologies.
artificial intelligence (ai) tends to conjure up images of sci-fi movies, with costly computers replacing humans for some sinister purpose, but the reality is much more collaborative and effective.
while ai has been adopted by many industries, its adoption rate in financial services has been relatively slow, and for understandable reasons. but you can get a feel of ai’s possible impact when you see that 76% of banking cxos agree that adopting ai will be critical to their organization’s ability to differentiate in the market.
practical, affordable ai is here, and the question is not whether or not to adopt, rather it is how quickly to get on board to differentiate in the quality, effectiveness, and efficiencies that ai-based solutions can provide.
ai is poised to transform the accounting industry. let’s see why.
your client of the future will be vastly different from your client of now. you won’t have a firm of the future without understanding the new breed of client.
like most accountants, you probably have faith that numbers tell a story. so, let’s look at some numbers and seven mega-trends that can help you get clarity about your client of the future. read more →
but look a little deeper and you’ll find that instead of replacing accountants, the profession stands to gain from mastering new robot technologies and putting them to work to enhance client service, streamline processes, and provide more high-value high-ticket work.
it was not just technological advancements that gave birth to the iphone. it was actually more about the ability to use human imagination to figure out how new technology could be used to invent altogether new benefits. read more →
robots are replacing some accounting tasks, but only some.