ThomsonReuters

AUGUST 1, 2023

Not so long ago, accountants would get to the office early in the morning and spend most of their day entering trial balance data into engagement software or formatting financial statements. And during the long hours of tax season, they would rarely see the light of day. But all that’s changed.

Account 98

Account accounted accountant accounting firms 98

ThomsonReuters

APRIL 24, 2024

They can automatically generate financial reports, invoices, or other accounting documents, as well as assist in summarizing lengthy financial statements or reports for quick insights. Document generation and summarization is another area where Generative AI models have the potential to help.

Technology 52

Technology Tax accounting firms financial statements 52

ThomsonReuters

FEBRUARY 13, 2023

As a matter of fact, most entry-level positions start out examining spreadsheets for inaccuracies, entering trial balance data into engagement software, and formatting financial statements. The post The secret antidote to the talent shortage appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Technology 59

Technology accounting firms Non-Profits Tax 59

ThomsonReuters

JANUARY 24, 2023

Much like the audits of financial statements, third-party assurance from an audit firm can help solidify trust in a company ’ s ESG reporting. This starts with solid reporting by company management and presents a significant opportunity for auditors. Why are ESG audits important?

audit 59

audit auditor Tax accounting firms 59

ThomsonReuters

MAY 23, 2024

In the past, auditors relied heavily on manual processes to uncover risks in financial statements and business operations. For more insight how you can future-proof your audit practice and stay ahead of the competition, download our white paper, 3 Keys to the Future of Audit.

audit 52

audit auditor Technology Education 52

ThomsonReuters

SEPTEMBER 26, 2024

Technology Integration: SAS 145 mandates that auditors understand client technology use, especially cloud computing, to ensure thorough financial statement audits. For more information on how you can upgrade your audit practice, download our white paper, Modernize your audit practice: How AI is shaping the future of auditing.

audit 40

audit auditor Technology financial statements 40

ThomsonReuters

OCTOBER 31, 2023

AI is often instrumental in helping to identify errors and improve the overall accuracy of financial statements and reports, while streamlining and standardizing workflows. White paper Demystifying artificial intelligence A tax professional’s guide to cut through the noise on all things AI. Can AI do accounting?

accounts jobs 52

accounts jobs accounting jobs accountant jobs Account 52

ThomsonReuters

OCTOBER 24, 2023

One of the biggest challenges facing the the tax profession today is the increasing amount of data that must be processed to prepare financial statements. To learn more about automation of data in tax, read our white paper “Automating tax provision: The power of technology.” based CFO Consultants, in a blog post.

Technology 52

Technology Tax corporation tax accounting and finance 52

Withum

DECEMBER 12, 2023

Future-looking information: Financial statements usually just look at the previous fiscal years’ balance sheets. Prior Work : Ask for case studies, white papers, or previous audit reports to understand their approach.

audit 59

audit cpas Account accounted 59

ThomsonReuters

JANUARY 28, 2025

Conduct a risk assessment assess identified risks of material misstatement at the financial statement level, refine the audit strategy, and develop specific overall responses to risks at the financial statement level. Assess inherent risk at the relevant assertion level and determine significant audit areas.

audit 91

audit Technology auditor financial statements 91

ThomsonReuters

DECEMBER 27, 2024

This update provides guidance for financial statement reporting, effective for fiscal years beginning after December 15, 2024, requiring crypto assets to be measured at fair value, with changes recognized in net income each reporting period. Testing completeness of crypto transaction records by reconciling on-chain and off-chain data.

audit 52

audit auditor financial statements Technology 52