Accounting Professionals Need To Embrace Big Data

Law360 (July 10, 2019, 3:08 PM EDT) -- Accounting professionals are used to dealing with change. Companies continually update their financial reporting practices based on new accounting standards, and public accounting firms must integrate new auditing standards into their practices on top of the accounting standards. Meanwhile, tax specialists just completed their first year under the Tax Cuts and Jobs Act of 2017[1] — the largest change to the tax code in decades.

However, new technologies are going to introduce a change to the very way accountants work. Now that the rush of annual report issuing and tax filing has abated, they should start considering ways to incorporate these technologies...

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