Charting the Future of Accountancy with AI – SMU Accountancy Professors partner CPA Australia on a Practical Guide
According to CPA Australia, Artificial Intelligence (AI) will be a key frontier technology to grow Singapore’s economy in the years ahead and chief financial officers and finance professionals need to understand how to anticipate and respond to AI. Thus the accounting professional body has published a resource guide titled Charting the Future of Accountancy with AI, in collaboration with Singapore Management University's School of Accountancy.
Launched on 11 July 2019 at the 8th CFO Connect Symposium targeted at finance leaders, the practical guide looks at how AI will reshape the accounting and finance sector in the coming years, and what the profession can do to continue to operate alongside the evolving technology and their changing roles.
In addition to being the Co-editors of the guide, SMU Accountancy Professors – Clarence Goh, Assistant Professor of Accounting (Practice) and Director, Professional Development; Gary Pan, Associate Professor of Accounting (Education), Associate Dean (Undergraduate Admissions and Student Development) and Academic Director (SMU-X); Seow Poh Sun, Associate Professor of Accounting (Education) and Associate Dean (Teaching and Curriculum); and, Benjamin Lee, Lecturer of Accounting and Director (Student Matters) – also contributed several chapters in the book.
As Editors, they assembled authors with a diverse range of professional expertise to discuss important issues in the implementation of AI in the accounting and finance sector. The endeavour has brought together various stakeholders and subject matter experts from accounting, business and academia, with contributions from Accenture, Deloitte, EY, KPMG, PwC and SMU.
The guide seeks to answer several important questions: what is AI and what are emerging trends in this area? How can AI be implemented in the accounting and finance sector to solve problems? What are some practical steps that accountants can take to capitalise on AI?
Said Lead Editor Clarence Goh, “AI is transforming the landscape in the accounting and finance sector. While there had initially been fears that the technology would displace accountants, the emerging consensus is that AI will prove to be a boon for accountants. Together with CPA Australia, we sought to produce a resource that can help accounting professionals keep abreast of developments in AI. It is our hope that the issues examined in the guide will contribute to the professional literature on AI in accounting and finance. We also hope that it will bring forth meaningful discussion of how AI will reshape the accounting and finance sector in the coming years and how the profession can continue to thrive alongside AI.”
You can get a copy of “Charting the Future of Accountancy with AI” here:
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