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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC. With a large and diverse enough data set (e.g.

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

CFO Leadership

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC. With a large and diverse enough data set (e.g.

Finance 52
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Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements

Bramasol

For example, a company with branches doing business in the United States and the European Union will need to comply with both GAAP and IFRS accounting principles. The account-based approach uses account logic identifiers to assign accounting principles, such as using unique prefixes to determine which accounts use IFRS vs GAAP principles.