- About Us
- Contact Us
Automated technologies and artificial intelligence in our society will challenge many professions in the future. Some of them may be strongly affected by technology and probably will operate in a completely different way from what we know. According to the book, ‘The Future of the Professions,’ by Richard and Daniel Susskind, the tax and accounting profession will also face significant changes.
Laurence Kiddle, in an article on the ICAEW website, has some interesting ideas – for example, in the near future, “it will become more economical for rule-based software to complete tax returns instead of expensive (and error-prone) humans.”
Another idea highlighted by Kiddle is that “tax compliance is simply interpreting regulations looking backward and that tax advisory is using those same regulations to look forward. So, even the planning and advisory aspects of tax work are ripe to be automated.”
All these ideas remind us of the importance of distinguishing automation from innovation. The former is the use of technology to support a traditional model, while the latter is the process of implementing new ideas using technology. The challenge here, as Kiddle points out, is to find a way to innovate the tax and accounting profession.
In our society, accounting firms of all sizes are looking to automation to streamline processes and to help deliver quality and efficiency. It is through innovation that firms will ensure they remain relevant now and in the future.
A common global language for business affairs, IFRS Standards are required by more than 120 jurisdictions in the world. Recently,
Automated technologies and artificial intelligence in our society will challenge many professions in the future. Some of them may be
Crowdfunding is still relatively new but should still be considered as a viable source of equity. Nowadays, it is providing
A legal amendment to the Finance Bill recently accepted by the UK government may pave the way for big changes
In the business world, there are bumps on the road and financial setbacks. In this situation, it is easy to
Day by day, technology is becoming an essential part of our lives, as the way we manage our financial life,
A new generation is coming to challenge the market. The Millennials make up a quarter of the US population and
Managing change is one of the biggest challenges for businesses as it requires a huge effort from managers and organisations
Sustainability reports are released by companies and organisations of all types, sizes, and sectors, from all over the world. A
Accounting is an indispensable tool for entrepreneurs to manage their business. The data provided by competent
Thinking about the risks involved in business has become an essential part of an enterprise’s strategy. Risk management enables organisations
When a business does not achieve its expected results, it may be time to think about implementing change. In these
The Financial Times recently reported the dispute in the courts between the UK supermarket chain Sainsbury’s and MasterCard. The Competition
For many, the accounting profession may not seem the most attractive in the world. But with technology and innovation at our hands, this is about to change.
By following these five steps, communication has everything it needs to flow better, regardless of where your business is located and where the people you
The need to go global is something that has emerged over the past decade and promises to challenge business for the next coming years.
Recently a considerable change in the SME market was announced through business news on the internet. The Big Four have
There are five topics that we must remember when dealing with working personal relationships in international business…
Slowly, one of the last socialist countries in the world is preparing to make changes to its economy, but how will this be done?
Developing countries attract the attention of investors by offering good opportunities and new markets, making them attractive for anyone thinking of expanding their
Through a mobile app, a small business can promote its brand, products, and services, expand its sales channels, interact with the target audience and get
Last month, experts at the Milken Institute Global Conference in Los Angeles looked at certain megatrends and predicted several economic scenarios for 2040 to
Your browser (Internet Explorer) is out of date.
It is no longer supported by Microsoft and therefore may not display all features of this and other websites. Learn how to update your browser here