The US Public Company Accounting Oversight Board (PCAOB) has published a new guidance for auditors that sets out what to look for when considering the relevance and reliability of external information if it is to be used as audit evidence.

The COVID-19 pandemic has become a driver of change and unprecedented transformation. In particular, many companies that previously resisted the digitalization of business, accepted it as inevitable. Most of them have successfully adapted to the situation and are gradually gaining more and more market share, squeezing competitors.

The International Public Sector Accounting Standards Board has announced that from January 1, 2022, most of its seats will be reserved for the females: ten women versus eight men.

The UK Financial Reporting Council presented its opinion on the practice of using alternative (non-standard) performance measures by listed companies, which calls for increased transparency of calculations and reconciliation with standard measures in accordance with IFRS or US GAAP.

The Financial Economists Roundtable (FER), a group of senior financial economists formed in 1993 with significant contributions to economic theory, shared views on future requirements for disclosure on factors of sustainability that the Securities and Exchange Commission is preparing to introduce in the United States.

The International Accounting Standards Board has issued a formal request for information on the practical aspects of applying financials instruments standard, IFRS 9.

At a meeting of the International Forum of Accounting Standard Setters (IFASS), representatives of the New Zealand External Reporting Council (XRB) spoke about their work on a new climate reporting standard that is being developed quite actively.

Today a software product is a must have for the work of specialists in accountancy professionals. The conclusions of the independent auditor should be of high quality, informative and prepared as quickly as possible. The world is starting to work at high speeds, so any delays in the work of the auditor can significantly affect the quality of the services. Modern audit programs help speed up processes without compromising quality. Cloud technologies, day planning programs, teamwork allow to improve the quality of audit services.

According to experts, in the next five years, the design attributes of almost every successful company will be a project approach to business and the use of data-driven solutions, machine learning and artificial intelligence, as well as modern methods of communication and continuous monitoring of staff efficiency. The capability to change quickly in the face of constant digitalization is the main competitive advantage that should be taken into account. Therefore, it is not surprising that most companies are undergoing a digital transformation of business, due to the growing popularity of new technologies and understanding of their benefits.

A study Ethics for Sustainable AI Adoption conducted by ACCA in collaboration with CA ANZ, showed that finance professional with their commitment to ethical standards can guide organizations along the responsible path for artificial intelligence (AI) adoption. Despite the potentially huge benefits, its widespread use requires a responsible approach by finance professionals.