Your Daily Accounting Briefing – 2024-05-18

1 min read

Let’s see what’s in the news today.

Insurance, investor protection most common regulatory violations

Wolters Kluwer launched a Regulatory Violations Intelligence Index tracking penalties against U.S. financial services institutions.

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Majority use AI in financial reporting, auditors expected to review use

A KPMG survey found that 72% of companies are using AI in their financial reporting process to some extent, and executives expect that auditors will start examining their controls around the technology.

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CFOs need change management before new tech

Partly in response to the talent crunch, CFOs are reaching for digital platforms to automate, streamline and spare the highest-value talent for highest-value work.

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Embracing the GenAI wave

For accountants eager to embrace GenAI, it’s important to understand the benefits, risks, and the undeniable impact it will have on the future of work.

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US Senate passes measure withdrawing SEC accounting bulletin

The Senate voted to pass a measure to overturn a SEC bulletin that establishes certain accounting standards for firms that custody crypto.

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