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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.

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.

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.

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. 

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

Brian May, CFO of food service company Nicholas and Company, offers a unique CFO perspective on the lessons he learned during a major digital overhaul.

As artificial intelligence quietly transforms the accounting industry, we look at how it has evolved and the changes it has brought to everyday tasks, with this feature forming part of our special editorial report on the subject, in association with Sage.

C-suite leaders in a global survey say generative AI has influenced their business models, improved customer relationships, and cut business costs.

In the midst of the generative Artificial Intelligence (AI) hype, automation often takes a backseat, with the assumption that AI will solve our problems. However, effective automation and AI implementation are impossible without proper processes, technology, and organization. Keeping this in focus, we’ll explore tools to help your firm achieve its goals and foster a healthy work-life balance for your team.

“Write a 1,200-word article regarding how CPA firms can manage risk related to the use of ChatGPT and other forms of generative AI.” This easy ChatGPT request would have resulted in the production of this month’s column in a far more expeditious manner than writing one from scratch, but would it have been as informative or accurate? ChatGPT is an example of generative artificial intelligence (AI), and its popularity has soared since its introduction to the public in November 2022. Given ChatGPT’s versatility, speed, and ability to engage in human-like conversations, it’s easy to see why.

Programs will responsibly enable non-profits to do more good with the latest AI technologies and help equip the future workforces with critical AI skills.

See how both the Big 4 and smaller firms are utilizing AI in their workflows.

Could the new wave of artificial intelligence remove layers of associates and juniors as firms automate more ‘menial’ tasks in search of efficiencies? And what effect could this have on the accounting landscape as we know it today?

While many accountants are determined to stay as far away from artificial intelligence as possible, others have found ways to use the technology to yield tangible benefits for their firms (see "Accounting's reluctant AI revolution").

To err is human. To seek help is superhuman. Gartner recently asked controllers about how often they or their peers make financial errors, as well as their thoughts on causes. Though survey respondents weren't asked about the significance of the errors cited, 59% acknowledged "several errors per month."

If a former firm partner turned artificial intelligence (AI) expert feels overwhelmed with the current rate of change related to generative AI (Gen AI) tools like ChatGPT, where does that leave CPAs charged with advising clients, work teams, or both?

We all need a good sorting through and cleaning out once in while–that goes for both our real-world life and our digital one. While going through your house or clothes is probably a no brainer, why is it important to clean up your digital life as well? The simple answer is it can leave you vulnerable to cyberattacks that can have a serious impact on your life (or even your company’s).

Emerging technologies continue to divide opinion, says a global report, with employees simultaneously seeing potential for social good and ethics missteps.