Insight / ICAEW warns AI creates ‘paradigm shift’ for accountancy

ICAEW research suggests developments in artificial intelligence (AI) herald a paradigm shift which will transform accountancy, and warns the profession needs to prepare for machines taking over more decision-making tasks from humans, and work out how to harness this

Insight / Government failing to tackle growing online fraud

The government is failing to tackle online fraud, even though it is now the most commonly experienced crime in England and Wales, according to a report from the National Audit Office (NAO) which claims the Home Office response is ineffective and not proportionate to the threat

Insight / Third of major UK companies appoint head of digital

More than a third (35%) of the UK’s largest companies have a dedicated digital leader, compared to a global average of 19%, as the influence of data analytics and big data will change audit in the future with concerns that automation could affect judgment decisions

Insight / IASB warns of major website update at weekend

The International Accounting Standards Board (IASB) has announced a major upgrade to its website is scheduled for the weekend, and is warning of potential disruptions to services during the period 10-11 June

Insight / Due diligence in a right to be forgotten age

EU rules allowing individuals to request removal of negative information and articles on search engines raises serious due diligence concerns for businesses and accountants, warns Shanti Salas, vice president in strategy and diligence at Exiger

Insight / 13% of accountancy firms have no website

The accounting sector’s presence on social media is lacking compared to other industries with only half of firms having a twitter profile and 13% admitting to not having a website, according to a report by Propero Partners

Audit / Deloitte takes pole position from KPMG for McLaren F1 technology

KPMG has terminated a planned decade-long agreement with McLaren Applied Technologies after only two years, and the F1 grand prix racing specialist supplier has now signed a partnership deal with Deloitte

Insight / Commission issues cyber alert to charities

The Charity Commission has issued an alert to charities and has provided regulatory advice on cyber attacks under the Charities Act 2011, following the recent ransomware attack on NHS services

Insight / Mergers and acquisitions: tips and pitfalls

The UK may be experiencing the most volatile economic climate in decades, but for many companies there is at least one silver lining amid all this uncertainty, merger and acquisition (M&A) activity is booming, Miguel Vergara, EPM Evangelist at Oracle, outlines how to make a merger a success by consolidating data and Cloud software

Insight / KPMG International buys fintech matchmaker

KPMG International has announced the acquisition of Matchi, a leading matchmaking platform that connects financial institutions with carefully vetted fintech companies worldwide, after working with the company for the past two years

Insight / BHP merger strengthens cloud accounting team

Top 40 accounting firm, Barber, Harrison and Platt (BHP) has merged with York-based Atkinsons Consulting Limited, adding eight staff to the practice and boosting its cloud accounting support company

Insight / Big Four firms grab 20% of digital consulting business

The Big Four accounting firms have carved out a 21% share of the total global revenue from digital transformation consulting, which was estimated to be worth $23bn (£18bn) in 2016, with Deloitte dominating the market, according to Source Global Research

Accounting / Companies House to reduce costs by 3.5% despite increase in workload

Companies House has outlined plans to reduce costs of baseline activities by 3.5%, despite having an increased workload, and will focus investment on improvements to digital services, expecting to have digital filing options for 99% of accounts by March 2018

Audit / Internal auditors critical to cyber security response

The Chartered Institute of Internal Auditors (CIIA) says a spate of recent high-profile data breaches and the introduction of new regulations mean internal audit has a critical role in providing advice and assurance around cyber security

Accounting / Companies House plans Easter downtime

Most of Companies House’s online services will not be available over the Easter holiday period due to planned maintenance