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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

They’re not very good at mathematics or dealing with numbers in general. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

Finance 95
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TEST Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

They’re not very good at mathematics or dealing with numbers in general. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

Finance 52
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More firms obtain independent assurance on ESG data

Future CFO

The number of global companies obtaining independent assurance on their ESG information increased from 51% to 58% in 2020, compared to the previous year, said the International Federation of Accountants ( IFAC ) recently. SASB’s parent organisation, The Value Reporting Foundation, will consolidate into the IFRS Foundation on Aug.

IFRS 52
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Turning challenges into opportunities: being a financial controller in 2024

Future CFO

As they assist in compliance audits and the monitoring of internal controls to ensure that everyone within the company does their job correctly, they are also expected to thrive and flourish amid the challenges along the way for the benefit of the organisation.

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Why Should Finance Teams Care About ESG Reporting?

The Finance Weekly

At COP26, the International Financial Reporting Standards Foundation (IFRS Foundation), which supervises accounting standards in more than 140 countries, predominantly in Europe and Asia, announced the formation of the , International Sustainability Standards Board (ISSB). Data validations, controls, and audit trails are extensive.

Finance 52
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Relieving the Pain of Year-End Close and Reporting

Planful

Half of the time the numbers were unreadable, so we had to confirm them via phone. Then we would key the numbers into a spreadsheet and perform the currency translations there. (I It’s More Than Just Rolling-Up Numbers. Ensuring adequate audit trails for internal and external auditors. Yes, remember Fax machines ?)

IFRS 40
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Making the Business Case for Cloud-Based Planning and Reporting

Planful

Not being compliant with US GAAP or IFRS. Lack of controls and audit trails. Time-consuming and costly audit process. The good news here is that cloud-based solutions have been available for a number of years, and many now offer the same capabilities as on-premises solutions. Improve audit trails, reduce audit costs.