Digital Transformation

Data Governance

Built-to-Evolve Data Can Help Transform Finance

Many organizations are undertaking efforts to transform their finance operations, including their ERP systems, calling attention to finance data models that may need rearchitecting. Historically, organizations often focused on building a finance data model, or an enterprise information model, that was designed to last. However, an increasing velocity of change in the global economy presents significant challenges for designing models that can be relevant a decade or even five years into the future.
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Digital Transformation Resources

Road to digital for SMEs and SMPs

Road to Digital: What are the obstacles for SMEs and SMPs? asserts that digitalized business models can foster resilience among small and medium enterprises. The report explores the main challenges in this area for SMEs in Europe and what small and medium practitioners can do to help their SME clients digitalize their businesses.

Published by Accountancy Europe.

The Professional Accountants Role in Data

ABOUT CPA CANADA
Chartered Professional Accountants of Canada (CPA Canada) works collaboratively with the provincial, territorial and Bermudian CPA bodies, as it represents the Canadian accounting profession, both nationally and internationally. This collaboration allows the Canadian profession to champion best practices that benefit business and society, as well as prepare its members for an ever-evolving operating environment featuring unprecedented change. Representing more than 220,000 members, CPA Canada is one of the largest national accounting bodies worldwide. cpacanada.ca

ABOUT IFAC
IFAC (the International Federation of Accountants) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. Comprised of 180 members and associates in more than 130 countries and jurisdictions, IFAC represents more than 3 million accountants in public practice, education, government service, industry and commerce. Over four decades, IFAC has represented the global profession and supported the development, adoption, and implementation of international standards that underpin the contributions of today’s global accountancy profession. IFAC has maintained a long-term approach to building and strengthening a global accountancy profession that supports transparent, accountable, and sustainable organizations, financial markets, and economies. ifac.org

Technology resources for CPAs

COVID-19 has accelerated the need for organizations to become more digital. Many have adopted new software and tools to enable digital workflows and maintain business operations. As a CPA, to effectively respond, you must have a strong understanding of these technologies and be able to harness data to drive better decision making. Our free, practical resources will help you build the important skills of the digital age so that you can adapt and thrive in this new reality.

How could automation and AI change the CPA’s role? Resources for CPAs

Explore our resources covering the potential impact of automation and AI on the accounting profession, how it could affect the audit and finance functions, and ways it could transform the way you work.

Finance Functions and Technology

From Mirage to Reality: Bringing Finance into Focus in a Digital World - details how advanced technologies contribute to evolving finance functions and what new skills finance professionals must gain to remain relevant. The report provides insights on how technologies, such as automation, analytics and visualizations, can improve how work is performed and how finance teams can use technologies to optimize their work.

Dell’s digital boss on being a change agent for transformation

What’s the secret to achieving as smooth a digital transformation journey as possible? Taking your people every small step of the way with clear communication and, more specifically, letting them help plot the route. This insight is shared by an expert perfectly placed to offer an opinion on the subject: Jen Felch, Dell Technologies’ chief digital and information officer.

Moving Internal Audit Deeper Into the Digital Age

Moving Internal Audit Deeper Into the Digital Age: Part 3, Beyond Theory - Scaling Automation Capabilities in Internal Auditing outlines a six-step approach to help internal auditors overcome common hurdles in implementing analytics and automation, and for scaling up digital capabilities to transform the audit lifecycle. This is the final report in a three-part series. Part 1 describes a methodology for leveraging automation in internal audit and Part 2 discussed what internal audit needs to think about when auditing automation. Published by Internal Audit Foundation and Deloitte.

Accounting for and Auditing of Digital Assets

Accounting for and auditing digital assets describes how to account for and audit digital assets for those with a fundamental knowledge of blockchain technology. This practice aid is based on existing professional literature and the experience of members of the Association of International Certified Professional Accountants’ Digital Assets Working Group. Published by Association of International Certified Professional Accountants.

Digital transformation reimagined: Accountants’ lessons learned

Digital transformation matters. Read the report to learn how to best move your organization forward.

Five Game Changers that Could Shape the Future of Work

The head of the federal government’s foresight agency says identifying the skills that workers will need in the future, as jobs rapidly change or disappear completely, is one of the toughest challenges policy-makers have in front of them.

Technology Spotlights - Learn About Technology Trends

Are you interested in learning more about technology trends? The Technology Spotlights series identifies technology trends and provides an overview of the benefits, risks and possible risk-mitigation strategies for your business.

Actions Needed to Adopt Technology and Enhance the Value of the Audit

The assurance profession needs to evolve in order to address challenges, seize opportunities and lead change in this era of ongoing disruption. Find recommended actions from experts to help advance the value and relevance of audit.

Six Tools to "Be the Disruption"

If the saying "organizations don't disrupt, people do" holds true, what are you doing to experience the benefits of acting differently?

Audit and Assurance in the Future

The world is going through a period of unprecedented change. The audit and assurance profession must innovate, collaborate, educate, adapt and experiment to evolve and advance the audit going forward.

Roundtable Report: Positioning Canada to Lead in a Digital and Data-driven Economy

Canada needs an overarching framework for responsible data use, according to participants at CPA Canada's roundtable on the government's consultation on digital and data transformation. Read our report for additional ideas raised by business leaders.

Automation

Finance Functions and Robotic Process Automation

Transforming the finance function with RPA - explores robotic process automation technology and its capabilities, and explains its impact on the finance and accounting function. The report details RPA’s broad applicability to specific finance and accounting process areas, and explains how RPA presents a sustainable path to transforming the finance function.

Harnessing digitization and automation to reimagine energy

The energy industry has long been at the forefront of adopting advanced technologies for a range of applications, and digitization continues at a rapid pace across the energy value chain today. Recent advances in artificial intelligence, machine learning, augmented reality, big data and cloud computing, together with advanced sensing techniques, will facilitate better monitoring, security and management of the oil and gas industry; this in turn will lead to higher productivity, reduced costs and enhanced safety.

Artificial Intelligence

Fraud and Emerging Technology

Fraud and Emerging Tech: Artificial Intelligence and Machine Learning examines the implications of AI and machine learning for mitigating fraud risk. The report includes examples of how these technologies can be used to detect and prevent bribery and corruption, expense fraud, third-party risk (e.g., involving background checks and other due diligence data) and vendor fraud (e.g. involving fake invoices)

Published by Anti-Fraud Collaboration, whose members are the Center for Audit Quality, Financial Executives International, The Institute of Internal Auditors and the National Association of Corporate Directors.

Building the AI-Powered Organization

Artificial intelligence is reshaping business—though not at the blistering pace many assume. True, AI is now guiding decisions on everything from crop harvests to bank loans, and once pie-in-the-sky prospects such as totally automated customer service are on the horizon. The technologies that enable AI, like development platforms and vast processing power and data storage, are advancing rapidly and becoming increasingly affordable. The time seems ripe for companies to capitalize on AI. Indeed, we estimate that AI will add $13 trillion to the global economy over the next decade.

Accountants can only gain from AI, say experts

Will robots replace CPAs? The short answer is no, if we learn to embrace artificial intelligence and the opportunities it presents. Here's how you can gear up for the future.

CPAs, find your own fit with coding, experts say

Expertise will depend on your role, level of seniority and career trajectory.

A CPAs Introduction to AI - From Algorithms to Deep Learning

Learn the fundamentals of artificial intelligence (AI) in the first of a planned series of publications to explore AI and its impact on the CPA profession. In collaboration with the American Institute of CPAs (AICPA), CPA Canada has issued this publication, A CPA's Introduction to AI: From algorithms to deep learning, what you need to know, as a foundational resource for all CPAs. It explains the AI "buzzwords" and terms you have likely been hearing (e.g. machine learning, deep learning, robotic process automation, computer vision, etc.), discusses the evolution of data, AI and computing power, and helps you to begin learning about AI and how it might impact your work.

How are Big Data and AI Transforming Accounting and Finance

The potent combination of big data and artificial intelligence is set to transform the way we work. Learn more from a CPA's perspective on how these disruptors may impact traditional accounting and finance roles.

Blockchain

Navigating blockchain risk

Blockchain Risk: Considerations for Practitioners highlights the unique risks and benefits of blockchain technology, advising that decisions to implement blockchain technology should be made only after careful risk assessment. The report describes specific blockchain-related risks in the areas of governance, infrastructure, data, key management and smart contracts. (Available free from ISACA following website registration.)

Published by American Institute of Certified Public Accountants, Chartered Institute of Management Accountants and ISACA (formerly Information Systems Audit and Control Association).

Blockchain: 4 powerful ways it is making a difference in the world

The digital ledger technology’s social impact is stretching from food delivery and vaccine distribution to helping fight COVID-19

Auditor's Responses to Assessed Risks in Audits of Entities that Hold Crypto-Assets

CPA Canada members are telling us that traditional audit procedures may not provide appropriate audit evidence when auditing crypto-asset holdings and transactions. Auditors need to explore approaches to respond to risks in this emerging industry.

Data Analytics

CPA Alberta PD Offerings - Data Analytics Innovation and Technology Seminars March 2021

New learning options are continuously being added to CPA Alberta's Professional Development program. Visit the PD Portal regularly for the most current information and updated.

Analytics Starts by Asking the Right Questions

Prepared by Sam Heidari, Data Scientist, CPA Alberta

The Role of Professional Accountants in Data

The explosion of data through the global economy creates challenges and opportunities for professional accountants and others who are being called on to oversee, manage, and measure the value of data.

Navigating Data Analytics

Analytics can make or break your bottom line. Learn how to harness the power of data science to enhance business intelligence and deliver precise, high-quality insights to your stakeholders.

An Inside Look at How Auditors in Canada are Using Data Analytics

Find out what auditors from nine public accounting firms are saying about their experiences in applying data analytics to their financial statement audit engagements and how others can leverage their insights.

Data Management Certificate

Data is changing the way businesses navigate risk and opportunity through periods of economic uncertainty. Harness the power of data and turn it into meaningful insights for strategic decision-making in this five-course online program.

New Certificate in Data Analytics Introduced

The Association of International Certified Professional Accountants introduced a new Data Analytics Core Concepts Certificate to help accounting and financial professionals acquire new skills as data analytics becomes a critical tool for
businesses.

Data and Analytics (D&A) in Audit

KPMG in Canada’s audit data analytics help provide financial assurance and improve risk management, decision making and audit effectiveness.

 

 

Value Creation

Introduction to value creation: Opportunities for CPAs

In today’s economy, CPAs need to apply skills to support forward-looking decisions that create more value for their organization and stakeholders. Join us as we discuss what is meant by “value creation,” why CPAs should take a leadership role in this space, and what resources are available to help you succeed.

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