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The accountant's advantage over technology in fraud prevention

Accounting Today

Their role transcends preparing financial statements; it includes guiding organizational behavior, promoting transparency, and fostering environments where ethical conduct becomes the norm. Accountants are not merely financial technicians; they are protectors of economic integrity. All rights reserved.

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Broker-dealer audit deficiency rates remain high

Accounting Today

And for evaluating audit results, firms did not sufficiently evaluate whether the broker-dealer financial statements were presented fairly in accordance with GAAP. All rights reserved. Paige Hagy Reporter twitter mailto linkedin For reprint and licensing requests for this article, click here.

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Inside GASB's far-reaching agenda

Accounting Today

In late 2023, GASB issued Statement 102 , "Certain Risk Disclosures," requiring state and local governments to provide financial statement users with information about specific risks when circumstances make a government vulnerable to a heightened possibility of loss or harm. That is effective for 2025 financial statements."

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The state of the 'Big Beautiful Bill' and more

Accounting Today

There were corporate tax provisions which were permanent, (02:20): And there were the individual and estate provisions, which under that law are scheduled to sunset at the end of this year. So if Congress were to do nothing, just were to do nothing, which we know is not going to happen, but still tax pockets would go back up one to 4%.

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The next frontier in accounting: Autonomous AI agents

Accounting Today

Poorly built or inadequately supervised AI agents could cause severe disruption, from misclassifying transactions to fabricating data — not only wreaking havoc on financial statements but fundamentally destroying trust. All rights reserved. In finance and accounting, accuracy and accountability are paramount.

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Tech news: Wolters Kluwer adds document summaries, tool directory to CCH AnswerConnect

Accounting Today

Users can parse, extract and classify data from diverse file types, including contracts, images, free text, invoices, financial statements, legal forms and more with accuracy, with the AI handling variations in layout, language and handwriting. All rights reserved.