Chris Gaetano is the technology editor for Accounting Today. He brings with him more than a decade of experience covering the accounting profession as part of the NYSSCPA's Trusted Professional. Prior to that, he was a local news reporter at Greater Media Newspapers in New Jersey. He graduated from Rowan University, in Glassboro, NJ.
Plus, Lettuce launches AI-powered tax tool for sole proprietors; Lili touts "Accountant AI" bot; and other accounting technology news and updates.
A KPMG survey found 72% of companies are using AI in their financial reporting process to some extent, and executives expect auditors will start examining controls around the technology.
Wolters Kluwer launched a Regulatory Violations Intelligence Index tracking penalties against U.S. financial services institutions.
U.K.-based IRIS Software announced its acquisition of Swipeclock, the Utah-based maker of solutions WorkforceHub and ApplicantStack.
Plus, Sage launches two new integrated suites in U.K. and Canada; and other accounting technology updates.
A recent survey has found that 40% of tax professionals believe generative AI will allow them to demand higher rates, in comparison to 6% who said rates will decrease.
The House passed a bill that would repeal the SEC's SAB 121, which requires custodians to list digital currency as a liability on their balance sheets. However the president said he'd veto the bill.
Accounting Today's annual selection highlights some of the most cutting-edge practices in the country.
Wolters Kluwer's tax, accounting and audit research solution now has generative AI capacities.
What exactly are accountants doing with artificial intelligence? Turns out, a lot.
Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.
Due to a software glitch, some TurboTax customers were inappropriately encouraged to take deduction choices resulting in higher taxes.
Plus, Estateably touts new accounting tools for estate planning; and other accounting tech news and updates.
A set of polls has found that leaders expect that generative AI will lead organizations to actually increase their headcounts, at least in the short term.
The AI-driven analytics solution is specifically for accounting firms.
LogicGate released AI governance software to help entities govern and manage implementation of the technology in their organizations.
Sovos announced the launch of Sovos Indirect Taxes, which features e-invoicing capacities and integrates with over 70 ERPs and transaction management systems.
Plus, Earmark launches a web app; and other accounting technology news.
An experiment tested different generative AI models against each other on multiple choice questions from CPA Exam test prep material, and found they have their own strengths and weaknesses.
Thomson Reuters announced the release of CoCounsel, a generative solution within Checkpoint Edge meant to help tax professionals with complex research.