The public’s trust of governmental budgeting, fiscal management, and reporting is at an all-time low, especially in the aftermath of the 2008 financial crisis, where only four out of ten people in OECD countries expressed confidence in their government. Cases of fraud, bid-rigging, and pay-to-play are never far from the headlines, and have continued to
Klaus Schwab, the Founder and Chairman of the World Economic Forum, shares in his book, “The Fourth Industrial Revolution,” that artificial intelligence (AI) will perform 30% of corporate audits by 2025. While any estimate of change is just that, an estimate, the pace of change is governed by the benefits that result from the application
PwC recently shared that in 2018 alone, 12 zettabytes of financial services industry (FSI) information was generated, but less than 0.5% was actually leveraged by businesses. This financial data explosion comes from an ever-increasing number of ERP and CRM systems employed by businesses and their partners, gathering and consolidating different payment, expense, inventory, and maintenance
Throughout my investing and business life, I’ve been amazed by the number of accounting scandals and re-statements that have occurred. The issue of regulatory oversight is raised in the press, but even with increased enforcement and higher penalties, a new accounting issue is never far behind, and it’s continued to get worse. Just look at
