tech and fintech

the first police officer on the scene might be a drone

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the robocops can de-escalate situations and save lives.

by rick richardson
technology this week

in the posh seaside town of santa monica, california, when someone dials 911 for police, a drone is instantly launched from the station’s roof.

officers also respond. however, most of the time, the drone arrives first, flying directly to a set of gps coordinates the controller entered. sometimes, it arrives in less than 30 seconds.

more: electronic skin that can sense touch will transform robotics | what an a.i.-powered workforce means for accountants | smartwatch saves two lives | chatgpt unlikely to replace accountants | looking for investments? check out smart home technology | solar sensors detect wildfires early, saving lives, money | the top hotspot router – and why you need it | chatgpt: what it is. why you need to know.
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“it’s a fundamental change in the way that we can bring policing services to our city,” said peter lashley, a veteran of the force who often pilots the drone from a screen-filled command center inside the police station.
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accounting tech doesn’t have to be daunting

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getting unstuck on the tech stack and how to use ai today.

by seth fineberg
analysis & commentary

you’ve probably realized by now that the accounting profession has reached an inflection point. professionals’ trust in the vendors that create and distribute the essential technology they use is strained at best. and with automation once again at the forefront, the very nature of accountant tasks is up for debate.

live chat: watch or listen to the entire flash briefing here.

in short, we needed a non-sponsored, real chat with actual practitioners who, by all accounts, know what it’s like to be a tech-forward accountant. moreover, they know that’s not what the profession is comprised of and, despite being innovative, have struggled with tech adoption over the years. this is what our recent flash briefing, “getting real: the accounting tech decisions you need to make today,” was all about.

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generative ai: should you avoid it or adopt it?

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with ai, will it pay to be an early adopter or to be more cautious?

by sandi leyva
the complete guide to marketing for tax & accounting firms

when a new technology arises, accounting professionals tend to be skeptical. they are seldom the people who are first to jump on the bandwagon. it’s been true at the introduction of mainframes, when pcs first arrived, when networks were first developed, at the internet’s inception, and during social media’s adoption. so, it’s not surprising to hear that accountants are skeptical of the newest technology, generative artificial intelligence.

while there are certainly issues to be aware of with all new technologies, generative ai tools such as chatgpt have the potential to save employees roughly two hours per day. it makes sense to at least learn about this technology to see if it fits in your firm.

more: now’s the time to clean up your email list | transform your marketing with crm | five kinds of small thinking | five tests: how open are you to change? | maybe price isn’t the problem | three thoughts for a quiet morning | the seven-step plan for marketing by spreadsheet | beyond quickbooks: wowing your clients | 11 ways to boost billings and impress clients
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the term generative ai refers to technology that uses a machine learning model and that contains interactive features such as the ability to chat. one example is chatgpt, which is a public, consumer-based product developed by openai. microsoft’s generative ai product is bing ai, and google’s entry is bard. there are a dozen or so others, but those are the “big three.” these tools are rapidly evolving with new features, capabilities, and content added weekly if not daily.
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how to match cas clients to technology

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the key: once data is created, don’t re-create it.

by hitendra patil
client accounting services: the definitive success guide

client accounting services essentially requires an ability for your firm to be able to best serve the needs of all your clients. in other words, your firm’s technology stack, services, processes and pricing packages need to cater to businesses of different sizes, turnovers, as well as various levels of tech-savvyness of the business owners and their employees. in yet other words, your firm should have the ability to do part of the accounting work or all the work your clients offload to your firm.

more: cas tech stack depends on cloud use | five ways to overcome cas staffing challenges | think cas isn’t for your firm? | convince your firm of cas value | ten ways to tell a client is ready for cas | launch cas in just eight steps
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in such cases, you want the technology stack to be as standardized as possible to avoid costly, error-prone and time-consuming need to deal with a variety of software. at the same time, when clients do part of the work, you must seek to implement collaborative technology on the cloud to eliminate duplication of data entry and mailing/emailing information back and forth between your firm and clients. this will, most likely, require you to convince your clients of the benefits of common, collaborative, cloud technology platform, and more likely than not, train the clients onto newer technologies. but the experience of hundreds of firms shows that the payoff far outweighs the cost of such efforts.
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organize meetings to save time and stress

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give meetings more purpose and take back some time for yourself.

by beth ziesenis
app of the week

a 2021 survey found that 94% of employees feel happier when they can take a lunch break, but 40% said they only occasionally, rarely or never take breaks during the workday (for women it was 67%!).

more apps of the week:  automate captions for videos | can’t read it now? save it for later | don’t lose precious memories: digitize old photos | track your mileage automatically | keep track of your subscriptions | capture testimonials to increase credibility | find an extra set of hands for time-consuming tasks | personalize communication and set yourself apart from competition | waiting to exhale (i.e., can april 19 hurry up?) |
see all: apps of the week here |
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and because one of the biggest timewasters in the office is mindless meetings, try an app that organizes agendas and keeps track of all the meeting discussions and decisions.

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unleashing the power of technology: transforming accountants into trusted advisors

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the smartest route to advisory:
join the survey. get the roadmap

imagine the possibilities.

by donny shimamoto, cpa, citp, cgma
the center for accounting transformation

in today’s rapidly evolving world, technology is revolutionizing the way we work and live. accountants and cpas are no exception.

more donny shimamoto:  how trusted advisors transform businesses | the future of accounting: a vision of trust, clarity, and hope | donny shimamoto: future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

we need to embrace the power of technology to enhance our services and better serve our clients as advisors. by leveraging technology and focusing on the complicated work that bots can’t do, accountants become trusted advisors, building deeper relationships and unlocking their full potential.

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electronic skin that can sense touch will transform robotics

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robots with touch-sensing capabilities will be able to interact more intuitively and safely.

by rick richardson
technology this week

in a significant leap forward for wearable technology, a team of researchers at stanford university has made remarkable progress in developing electronic skin that possesses the ability to sense touch. this innovation has the potential to revolutionize industries ranging from healthcare to robotics, opening up new possibilities for human-machine interaction and sensory augmentation.

more tech this week: chatgpt passes cpa exam on second try | smartwatch saves two lives | first e-road charges electric vehicles as they drive | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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the electronic skin, known as e-skin, mimics the sensory capabilities of human skin by integrating pressure sensors, stretchable circuitry, and a sophisticated neural network. the team accomplished this feat by combining advanced materials, flexible electronics, and machine learning algorithms. the result is a thin, flexible, and highly sensitive e-skin that can accurately perceive and respond to different levels of pressure and touch.

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what an a.i.-powered workforce means for accountants

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ready or not, ai is here to stay.

by rick richardson
technology this week

the complicated relationship that humanity has had with its technological creations throughout time has shaped many executives’ views on adapting to change and remaining in demand in any industry or profession. the various cycles of emerging technology always enlighten, frighten and inspire the masses until we adjust and change our mindsets to embrace the disruption.

more: chatgpt passes cpa exam on second try | smartwatch saves two lives | chatgpt unlikely to replace accountants | looking for investments? check out smart home technology | solar sensors detect wildfires early, saving lives, money
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even though it has been present for decades, artificial intelligence (ai) is currently promoted as the dramatic change that threatens to upend our society. people are terrified as they try to imagine how it will change the way they live their lives, how they view their employment and what the future of their professions might bring. read more →

research: accounting pros cautiously optimistic about generative ai

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expert says we must work together to balance the benefits of technology and unintended consequences.

by rick richardson
technology this week

thomson reuters, a global content and technology company, recently released new research on generative ai that gauged the sentiment of professionals across legal, tax, and accounting firms in the united states, the united kingdom, and canada. the research sought to understand better how the technology is perceived and applied within the professional services industry. the report uncovered a mix of optimism and caution in adopting generative ai. 

more tech this week: chatgpt passes cpa exam on second try | smartwatch saves two lives | first e-road charges electric vehicles as they drive | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

“generative ai can disrupt and redefine the professional landscape, but it is clear from our findings that there is a trust gap with professionals,” said steve hasker, president and ceo of thomson reuters. “the future of professional work is set to be revolutionized by generative ai, and as an industry, we need to work together to find the right balance between the benefits of technology and any unintended consequences. we believe this will help our customers first to trust the transformative power of generative ai and then harness the opportunity to shape the future of their professions.”

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three fundamental questions to ask in audit

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are you teaching your team the real work or just the compliance work?

by alan anderson, cpa
transforming audit for the future

instant download:
“the new manifesto for accountants.“

when i started in accounting, we wrote audit programs out by hand, and we thought about what it was we needed to do to carry out our audit procedures.

and then, the firm got a copy machine. that started the arts and crafts period of public accounting.

more: the big issues in audit: frustration, inconsistency and technology | five ways to increase audit efficiency | early adopters gain an edge in audit | talent retention: five tips for an audit adjustment | six benefits of an internal audit | the ten financial controls that’ll make you a hero | five cash reports you can’t live without | when an audit is a great thing
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because we were going to do the same as last year, every year we would make a copy of last year’s hand-written audit program, cut out the sign-offs, tape that on a new page, make sure to draw the lines for the sign-offs, and then we’d make a copy of that. then we had our audit program for the new year.

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how auditors can beat ai

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ignore the coming tsunami of change at your own peril.

by alan anderson, cpa
transforming audit for the future

instant download:
“the new manifesto for accountants.“

the other day, i picked up a college textbook on auditing from 2001.

more: the disruptors: re-inventing accounting with tyler anderson | the big issues in audit: frustration, inconsistency and technology | five ways to increase audit efficiency | early adopters gain an edge in audit | talent retention: five tips for an audit adjustment | six benefits of an internal audit | the ten financial controls that’ll make you a hero | five cash reports you can’t live without | when an audit is a great thing
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even back then, that book listed these as “critical forces on the profession:”

  • increasing market saturation with relatively little opportunity for growth
  • perceptions that financial statement audits have become a commodity
  • price competition and continual pressure to reduce fees
  • cost pressures that have resulted in the reduction of time devoted to engagements
  • perceptions that the incidence and severity of alleged audit failures have increased

in the 20-plus years since that book was published, not much has changed. today many of the college students who learned auditing from that textbook are in leadership positions at audit firms. they were warned about what we were up against.

that we are still facing those same “critical forces,” which have only exacerbated since then, is an indicator of the ossified state of leadership in the audit profession.

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how tax practitioners became cybersecurity risks

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tax professionals are a hacker’s dream.  

by donny shimamoto, cpa, citp, cgma
on cybersecurity for accountants
center for accounting transformation

in 2015 the u.s. internal revenue service (irs) held its first security summit[i]. by creating a public-private partnership via the summit, the irs is seeking to protect more taxpayers and more tax dollars from tax-related identity theft.

more: how hacker-proof is your firm? | donny shimamoto: future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

partners in the summit included the irs, state tax agencies and the private sector tax industry—for example, financial institutions, cybersecurity practitioners and tax practitioners.

the summit brought together people from the full value chain of tax compliance. taxpayers submit information to tax practitioners, who prepare the returns and submit them to the tax authorities.

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