Technology

Insight / HMRC adds to no deal Brexit import information

The government has announced plans to phase in for EU imports the pre-arrival forms known as entry summary declarations, if the UK leaves the EU without a withdrawal deal, in a bid to ease trading arrangements post-Brexit

Audit / Audit work set to go to tech firms

Technology companies are set to challenge accountancy firms’ traditional dominance of the audit market, as client companies start to separate their audit into separate elements, according to analysis from Source Global Research which suggests Deloitte is the front runner for embracing this change

Insight / UK accountancy network teams up with fintech funder

The Corporate Finance Network (CFN), a UK network of independent regional accountancy firms, has announced a national partnership with online lending broker Capitalise.com, which will enable member firms to access the funding platform when working with their SME clients to source finance

Insight / Accounting software supplier keeps head above water

Australian accounting software company Calxa was forced to activate its disaster management plan following a ‘once in a century’ flood which saw homes and offices abandoned and snakes and crocodiles swimming through the streets, but with businesses needing to keep online services running despite the deluge

Insight / Investors locked out of £110m in cryptocurrency after exchange CEO dies

Canada's largest cryptocurrency exchange is unable to access around $145m in cryptocurrency after its founder suddenly died, taking with him the only password for the digital account

Insight / CIMA calls for wider digital skillset

Most finance teams and professionals are failing to evolve their skills fast enough to account for the impact of artificial intelligence, robotic process automation and other technologies on traditional accounting tasks, according to research from CIMA which is updating its qualifications in response

Insight / Hewitt: millennial accountants demand more from firms

Advances in technology and changing client expectations are leading many younger accountants to change how they do business, leaving many traditional firms behind, argues Colin Hewitt, CEO of Float

Insight / FCA consults on cryptoassets guidance

The Financial Conduct Authority (FCA) is consulting on guidance which sets out what regulation different types of cryptoassets may fall under to help businesses and individuals understand whether they need to be authorised and what rules apply

Insight / Corporates boost compliance teams and technology

Over half (55%) of corporates have increased the size of their compliance teams in response to the mounting regulatory pressures that have emerged over the last five years, according to a study from Intertrust

Insight / AI skills demand grows but ethics lag

Over half of organisations do not have a policy to ensure the safe and ethical development of artificial intelligence (AI), even though three quarters of business leaders report that AI is fundamentally changing their organisation, according to research from Deloitte

Audit / PwC uses drones in audit for first time

PwC has taken to the skies and, for the first time ever, has undertaken a stock count audit using a drone, as part of a wider drive to harness emerging technologies to enhance audit quality

Insight / 64% of UK workers risk GDPR penalties

A survey of UK workers reveals that a majority have forwarded a customer email to their personal account, violating the EU’s General Data Protection Regulation (GDPR) and potentially incurring large fines for their employer

Insight / IAESB consults on updating tech education standards

The International Accounting Education Standards Board (IAESB) has launched a consultation on possible changes to international standards for the teaching of IT skills, following increased demand for proficiency and the disruptive effects of new technology in many sectors

Insight / Quarter of UK workers not giving their best

UK workers are less enthusiastic about their work and less productive than their European counterparts, according to research from Deloitte which also found that almost half say their job has already been affected by automation

Insight / Future accountants ‘not team players’

Accountants will need to become more opinionated and develop greater data and risk analysis skills if they want their careers to progress in future, while cultivating listening skills and being a team player are set to be less important, according to research from the Association of Accounting Technicians (AAT)
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