What AI can do for auditors - Journal of Accountancy
Feb 1, 2024 · Artificial intelligence (AI) is a technology that auditors are exploring, but they may not yet be reaping all the benefits it can offer. In an audit, AI can be used in a variety of ways, including performing journal entry testing by identifying unusual transactions among a large pool of unstructured data and analyzing those transactions for patterns and anomalies.
Journal of Accountancy - Accounting, tax, auditing news
The Journal of Accountancy is the ultimate resource for today’s CPA, providing daily professional and regulatory updates, breaking news and videos.
Auto depreciation limitations increase - Journal of Accountancy
Feb 7, 2024 · The IRS issued higher new depreciation limitations for passenger automobiles, although the increases are smaller than in the previous two years.
3 trends that will reshape accounting and finance in 2023
Mar 15, 2023 · The past few years have given us a deep appreciation for how quickly the unexpected can upend our assumptions. And there's no question that uncertainty — around everything from inflation and macroeconomic volatility to geopolitical tensions and regulatory shifts — has dominated discussions at organizations in all industries and regions.
Data analytics and visualization in the audit
Mar 1, 2024 · Editor’s note: This is the third article in a four-part series that is part of a larger initiative the AICPA Auditing Standards Board (ASB) has undertaken to understand and support technology use in the audit. Data analytics and data visualization are making it possible to harness large datasets and quickly illustrate the patterns within them.
5 best practices for intercompany accounting - Journal of …
Dec 1, 2016 · Increasingly complex multinational value chains, partly the result of industry consolidation or globalization, and more scrutiny from auditors and regulators are causing more and more companies to run into serious and costly intercompany accounting problems.. Improper or insufficient intercompany accounting practices are partly to blame. "Multinationals need to …
BOI requirements roll along despite concerns about too little …
Aug 6, 2024 · FinCEN, which oversees beneficial ownership information reports, has received just 2.7 million of the 32.6 million reports that it expects. Through June, FinCEN said, it has reached more than 90,000 stakeholders.
Tax, accounting, auditing news - Journal of Accountancy
4 days ago · The latest news from the Journal of Accountancy, covering accounting, financial reporting, auditing, taxation, financial planning, technology, and more.
Using technology to boost audit quality - Journal of Accountancy
Jan 1, 2024 · The AICPA has been promoting the use of technology to transform the audit process for years. As part of that effort, the AICPA has teamed with CPA.com, several large accounting firms, and technology partner Caseware International to develop the Dynamic Audit Solution (DAS), an initiative that brings together data-driven methodology, guided workflow …
Fraud is suspected: Now what? - Journal of Accountancy
Aug 1, 2022 · LEARNING RESOURCES. Financial Statement Fraud, Corruption, and Asset Misappropriation — Part 1 and Part 2. Through narration by an industry subject-matter expert and practical scenario exercises, this two-module CPE course identifies the steps of a financial statement fraud investigation and the internal controls needed in place to deter and prevent …