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Connecticut consumers can now opt out of most targeted advertising and sales of their personal data by using a single tool, like a browser extension.

Finance leaders have a multifaceted role in building and funding cyber defences, including creating and testing an incident response plan.

Here are the most prominent and potentially damaging threats businesses face and how CFOs can prepare to mitigate them.

Finance transformation has taken accounting departments by storm in the past decade as more and more organizations are asked to do more with less – but it isn’t always easy to know where to start on the finance transformation journey. There are specific actions you can take to move forward in terms of people, process, and technology to create efficiencies, reduce cost, and improve employee morale all while maintaining proper controls.

Organizations are adopting AI tools at a lower rate than many may have expected.

Interest in the implementation of generative artificial intelligence tools has risen among CPA decision-makers in business and industry over the last year, a steady progression that could signal rapid change on the horizon.

More than half of organisations identified as leaders are seeing a strong return on investment from artificial intelligence adoption.

Here’s how leading finance leaders will navigate the generative AI revolution next year.

So far companies are still looking to AI mainly for enhanced efficiencies and productivity, Diligent Institute finds.

As the year ends, CFOs should focus on these key areas to ensure a smooth close process and improve operational performance.

In October, the CTCPA hosted an informative Town Hall meeting featuring Melissa Travis, FEMA CISA specialist and CEO of the Rhode Island Society of CPAs . Travis delivered crucial insights on business continuity planning, disaster preparedness, and the pressing challenges of cybersecurity.

Most employees blame their lack of skills with artificial intelligence on their employers; Microsoft has added 10 AI agents in Dynamics 365; Teams can now block workers for signing in after hours; and and seven other recent developments in technology.

At the NASBA annual meeting, there was a session on "AI Revolution: Unlocking the Future of Tomorrow," which showcased the remarkable pace at which artificial intelligence is being integrated into various sectors. With 80% of Fortune 500 companies weaving AI into their workflows just nine months after the launch of ChatGPT, it's evident that we stand on the brink of a transformative era.

Companies with more mature cybersecurity approaches expect to increase cybersecurity spending and better integrate their cyber strategy into overall transformation plans.

Tax ID numbers, Social Security numbers, net income, etc. — CPAs manage a tremendous amount of valuable information for themselves and for their clients. Keeping it safe is a serious responsibility.

There are striking similarities between the roles and responsibilities of accountants and cybersecurity professionals, particularly in their need for precision, data protection, and thorough scrutiny before adopting new technologies. Both are working with sensitive information in highly regulated environments, making trust a cornerstone of client relationships.

Artificial Intelligence (AI) has transformed how we live and work, offering immense potential for innovation and progress. However, as with any technology, AI also has its drawbacks. Emerging technologies like deepfakes – AI-generated synthetic media that can convincingly manipulate or fabricate audio, video, and images – have rapidly gained popularity among cybercriminals as a potent tool for cyberattacks. By leveraging deepfakes, they can easily manipulate information, deceive individuals, and exploit vulnerabilities within organizations. The consequences of these attacks can be severe, ranging from financial losses to reputational damage. 

From a focus on data integrity and employee upskilling to championing new tools, finance leaders have a multi-dimensional role in AI adoption and use.

More than half of finance leaders believe technology will improve audit quality, but the human element is irreplaceable.

By leveraging artificial intelligence’s ability to deliver actionable insights on market trends, CFOs can unlock new growth avenues for their companies.