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Business Recorder
22-07-2025
- Business
- Business Recorder
Accountants can thrive in AI-dominated workplace: ACCA report
KARACHI: AI will reshape the accountancy profession by changing how tasks are completed at all levels. Leading global accountancy body, ACCA (the Association of Chartered Certified Accountants) says that as AI becomes more commonplace, new responsibilities and tasks will emerge for finance teams as they focus on improving controls and specifying the desired information outcomes from machine use. New roles are also expected to support activities ensuring AI systems remain accurate and compliant with professional standards and regulations. ACCA's latest AI Monitor report explores how the gradual integration of AI over comings years is likely to change how accountants work and deliver value from the automation of repetitive tasks to increased knowledge support for decision making. The report points out that while AI can help make processes more efficient, human intervention needs to be retained at critical junctures. Ultimately, the integration of AI needs to reflect the fact that trust remains a fundamentally social concept built on human interaction, transparency, and oversight. And the future of accounting will involve navigating tensions between efficiency and human judgement, automation and control. Alistair Brisbourne, Head of Technology Research, ACCA, said: 'Professionals who can embrace uncertainty, develop strong judgement skills, and continuously adapt their expertise will thrive even as specific tasks change or become automated.' Brisbourne said: 'It should be remembered that over the decades accountancy has prospered by its intelligent and enthusiastic adoption of the latest technology.' The report sets out four key work trends that AI will drive for accountants: a contraction in routine processing; an expansion in strategic and advisory decision-making; an evolution of mid-level roles to incorporate more judgement and client interaction; and new responsibilities at the intersection of accounting, technology and strategy. The future that is unfolding isn't one where finance and accounting professionals are replaced – but one where their responsibilities will change. Success in this transition depends on making clear assessments of where AI will add value, establishing clear policies and governance in use, and the cultivation of skills that complement technical capabilities. ACCA expects that coming years will see organisations develop more integrated workflows based on the principle that AI adoption is not just about distinguishing high versus low-value activities – but focusing on outcomes, quality and value. Brisbourne said: 'Only a minority of finance and accounting teams have implemented AI solutions – but these resources are widely available, and organisations are reviewing opportunities and workforce needs. 'AI adoption is expected to accelerate in coming years, especially as our data shows investment on AI initiatives is increasing, and widespread cloud adoption provides a crucial foundation for AI implementation.' The profession is still in the invention and adoption stage of AI, as demonstrated by investment data and current adoption/ usage statistics. And the profession is embracing the learning and employment challenge offered by AI as shown by the recently announced changes to the ACCA Qualification which embraces emerging advances in technology and sustainability. Copyright Business Recorder, 2025
Mid East Info
15-07-2025
- Business
- Mid East Info
AI is reshaping the work of accountants as automation offers greater opportunities and responsibilities - Middle East Business News and Information
AI will reshape the accountancy profession by changing how tasks are completed at all levels. Leading global accountancy body, ACCA (the Association of Chartered Certified Accountants) says that as AI becomes more commonplace, new responsibilities and tasks will emerge for finance teams as they focus on improving controls and specifying the desired information outcomes from machine use. New roles are also expected to support activities ensuring AI systems remain accurate and compliant with professional standards and regulations. ACCA's latest AI Monitor report explores how the gradual integration of AI over coming years is likely to change how accountants work and deliver value from the automation of repetitive tasks to increased knowledge support for decision making. The report points out that while AI can help make processes more efficient, human intervention needs to be retained at critical junctures. Ultimately, the integration of AI needs to reflect the fact that trust remains a fundamentally social concept built on human interaction, transparency, and oversight. And the future of accounting will involve navigating tensions between efficiency and human judgement, automation and control. Alistair Brisbourne, Head of Technology Research, ACCA, said: 'Professionals who can embrace uncertainty, develop strong judgement skills, and continuously adapt their expertise will thrive even as specific tasks change or become automated.' Brisbourne said: 'It should be remembered that over the decades accountancy has prospered by its intelligent and enthusiastic adoption of the latest technology.' Kush Ahuja, Head of Eurasia and Middle East at ACCA, added: 'Across the Middle East, the profession is embracing AI as a catalyst for transformation. Accountants in this region are increasingly being called upon not only to understand new technologies but to ensure their ethical and effective use. With a strong government focus on digital innovation and sustainable growth, finance professionals here have a unique opportunity to lead in building trust, resilience and long-term value.' The report sets out four key work trends that AI will drive for accountants: A contraction in routine processing; An expansion in strategic and advisory decision-making; An evolution of mid-level roles to incorporate more judgement and client interaction; and New responsibilities at the intersection of accounting, technology and strategy. The future that is unfolding isn't one where finance and accounting professionals are replaced – but one where their responsibilities will change. Success in this transition depends on making clear assessments of where AI will add value, establishing clear policies and governance in use, and the cultivation of skills that complement technical capabilities. ACCA expects that coming years will see organisations develop more integrated workflows based on the principle that AI adoption is not just about distinguishing high versus low-value activities – but focusing on outcomes, quality and value. Brisbourne said: 'Only a minority of finance and accounting teams have implemented AI solutions – but these resources are widely available, and organisations are reviewing opportunities and workforce needs. 'AI adoption is expected to accelerate in coming years, especially as our data shows investment on AI initiatives is increasing, and widespread cloud adoption provides a crucial foundation for AI implementation.' The profession is still in the invention and adoption stage of AI, as demonstrated by investment data and current adoption/usage statistics. And the profession is embracing the learning and employment challenge offered by AI as shown by the recently announced changes to the ACCA Qualification which embraces emerging advances in technology and sustainability. The report adds that widescale use of a general-purpose technology, like AI, may take longer than anticipated.
Mint
10-06-2025
- Business
- Mint
India prepares reporting standard as AI failures may hold clues to managing risks
India is framing guidelines for companies, developers and public institutions to report artificial intelligence-related incidents as the government seeks to create a database to understand and manage the risks AI poses to critical infrastructure. The proposed standard aims to record and classify problems such as AI system failures, unexpected results, or harmful effects of automated decisions, according to a new draft from the Telecommunications Engineering Centre (TEC). Mint has reviewed the document released by the technical arm of the Department of Telecommunications (DoT). The guidelines will ask stakeholders to report events such as telecom network outages, power grid failures, security breaches, and AI mismanagement, and document their impact, according to the draft. 'Consultations with stakeholders are going on pertaining to the draft standard to document such AI-related incidents. TEC's focus is primarily on the telecom and other critical digital infrastructure sectors such as energy and power,"said a government official, speaking on the condition of anonymity. 'However, once a standard to record such incidents is framed, it can be used interoperably in other sectors as AI is being used everywhere." The plan is to create a central repository and pitch the standard globally to the United Nations' International Telecommunication Union, the official said. Recording and analysing AI incidents is important because system failures, bias, privacy breaches, and unexpected results have raised concerns about how the technology affects people and society. 'AI systems are now instrumental in making decisions that affect individuals and society at large," TEC said in the document proposing the draft standard. 'Despite their numerous benefits, these systems are not without risks and challenges." Queries emailed to TEC didn't elicit a response till press time. Also read | AI at war: Artificial intelligence is reshaping defence strategies Incidents similar to the recent Crowdstrike incident, the largest IT outage in history, can be reported under India's proposed standard. Any malfunction in chatbots, cyber breaches, telecom service quality degradation, IoT sensor failures, etc. will also be covered. The draft requires developers, companies, regulators, and other entities to report the name of the AI application involved in an incident, the cause, location, and industry/sector affected, as well as the severity and kind of harm it caused. Like OECD AI Monitor The TEC's proposal builds on a recommendation from a MeitY sub-committee of on 'AI Governance and Guidelines Development'. The panel's report in January had called for the creation of a national AI incident database to improve transparency, oversight, and accountability. MeitY is also engaged in developing a comprehensive governance framework for the country, with a focus on fostering innovation while ensuring responsible and ethical development and deployment of AI. According to the TEC, the draft defines a standardized scheme for AI incident databases in telecommunications and critical digital infrastructure. 'It also establishes a structured taxonomy for classifying AI incidents systematically. The schema ensures consistency in how incidents are recorded, making data collection and exchange more uniform across different systems," the draft document said. Also read | Apple quietly opens AI gates to developers at WWDC 2025 India's proposed framework is similar to the AI Incidents Monitor of the Organization for Economic Co-operation and Development (OECD), which documents incidents to help policymakers, AI practitioners, and all stakeholders worldwide gain valuable information about the real-world risks and harms posed by the technology. 'So far, most of the conversations have been primarily around first principles of ethical and responsible AI. However, there is a need to have domain and sector-specific discussions around AI safety," said Dhruv Garg, a tech policy lawyer and partner at Indian Governance and Policy Project (IGAP). 'We need domain specialist technical bodies like TEC for setting up a standardized approach to AI incidents and risks of AI for their own sectoral use cases," Garg said. 'Ideally, the sectoral approach may feed into the objective of the proposed AI Safety Institute at the national level and may also be discussed internationally through the network of AI Safety Institutes." Need for self-reglation In January, MeitY announced the IndiaAI Safety Institute under the ₹10,000 crore IndiaAI Mission to address AI risks and safety challenges. The institute focuses on risk assessment and management, ethical frameworks, deepfake detection tools, and stress testing tools. 'Standardisation is always beneficial as it has generic advantages," said Satya N. Gupta, former principal advisor at the Telecom Regulatory Authority of India (Trai). 'Telecom and Information and Communication Technology (ICT) cuts across all sectors and, therefore, once standards to mitigate AI risks are formed here, then other sectors can also take a cue." Also read | AI hallucination spooks law firms, halts adoption According to Gupta, recording the AI issues should start with guidelines and self-regulation, as enforcing these norms will increase the compliance burden on telecom operators and other companies. The MeitY sub-committee had recommended that the AI incident database should not be started as an enforcement tool and its objective should not be to penalise people who report AI incidents. 'There is a clarity within the government that the plan is not to do fault finding with this exercise but help policy makers, researchers, AI practitioners, etc., learn from the incidents to minimize or prevent future AI harms," the official cited above said.
Yahoo
02-06-2025
- Business
- Yahoo
What are Akuvox's Latest Offerings that Cement its Leadership in Smart Intercoms?
XIAMEN, China, June 2, 2025 /PRNewswire/ -- Akuvox, a leader in smart intercom and smart home solutions, proudly announced the launch of two groundbreaking products: X937 Surveillance + Intercom AI Monitor and the X910 Single-Button Package Detection Door Phone. The launch of the two new models marks one step forward for Akuvox in secure communication and surveillance, delivering seamless integration, advanced functionality, and unparalleled user experience for residential and commercial applications. Akuvox X937 Surveillance + Intercom AI Monitor The Akuvox X937, a 15.6-inch indoor monitor running Android 14, is the first to unify surveillance, smart intercom, and an LLM-powered voice assistant. Key features include: Unified Command Hub: Displays up to 25 live camera feeds from NVRs connected via HDMI input or LAN auto-detection, manages video calls, and controls door access through an intuitive interface. AI Voice Assistant: Powered by a large language model, the AI voice assistant interprets natural speech to control the X937, third-party systems, or smart home devices. Google-Certified Flexibility: GMS certification enables access to millions of Google Play apps, transforming the X937 into a versatile hub for streaming, cooking, or music. Akuvox X910 Single-Button Package Detection Door Phone The Akuvox X910 is a compact, single-button intercom tailored for upscale single-family homes. Its standout features include: Real-Time Parcel Tracking: Continuous monitoring with instant notifications via the Akuvox SmartPlus app or indoor monitors ensures package security. Dual Camera System: 5MP HDR main camera (150°H/116°V) and 2MP secondary camera deliver 2K video, eliminating blind spots in any lighting. Versatile Smart Access: Supports BLE, QR codes, NFC, RFID, and app-based remote unlocking for secure, tailored entry. Akuvox Smart Intercom: One Step Forward These products mark a shift toward integrated, AI-driven advanced security for high-end markets. The Akuvox X937's fusion of surveillance, intercom, and natural language processing sets a new benchmark for indoor monitors, while the Akuvox X910 redefines door phones by combining access control with proactive monitoring. Together, they deliver smart, scalable solutions for the high-end market. "Akuvox's X937 and X910 empower users with intuitive, secure technology," said Will Chen, GM of Akuvox. "These devices adapt to modern lifestyles, offering precision, reliability, and elegance to transform how we interact with our spaces." View original content to download multimedia: SOURCE Akuvox Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
05-03-2025
- Business
- Zawya
ACCA report: Accountants' role in AI adoption extends beyond traditional financial controls
Findings from the latest in ACCA's series of AI Monitor reports, Risk and Responsibility, underscore the vital role of professional judgement in ensuring the successful adoption of artificial intelligence (AI). As organisations in the Middle East accelerate AI integration, accounting professionals are uniquely positioned to guide ethical and effective implementation, balancing innovation with robust governance. 'In the Middle East, as AI technologies become integral to business operations, accounting professionals play a crucial role in connecting technological potential with practical application. Their expertise ensures that AI initiatives are not only innovative but also aligned with ethical standards and strategic objectives,' comments Kush Ahuja, Head of Eurasia and Middle East at ACCA. The Risk and Responsibility report highlights that while AI has the potential to enhance human capabilities, it also presents challenges related to control, reliability and professional responsibility. For organisations in the Middle East, where AI adoption is expanding rapidly, it is essential to balance technological advancements with strong governance frameworks. When it comes to classifying AI risks, a couple of immediate threats for many organisations relate to the significant amounts of investment being committed and either unrealistic expectations or poor judgement concerning the potential impact of integration. While AI continues to promise huge potential, real value remains far more elusive and difficult to quantify. ACCA believes success will come through combining traditional financial acumen with new forms of technological oversight to maintain the profession's fundamental role as arbiters of trust and integrity. These capabilities don't replace professional judgement, but underscore its importance. Professional judgement and critical thinking will be fundamental to dealing with AI-generated insights. Demonstrating the application of professional expertise and documenting how decisions are made when using AI is important to support transparency and accountability. Alistair Brisbourne, head of technology research, ACCA, said: "Safely introducing AI into how our organisations work and make decisions isn't just about technology - it's about redefining how we exercise things like professional judgement. As regulatory frameworks evolve and AI capabilities expand, success will depend on striking the right balance: leveraging AI's analytical power while strengthening professional expertise." "Traditional concepts of materiality and professional scepticism are being reframed in the context of AI systems that can analyse entire datasets rather than samples during an audit, for example. This shift challenges accountants to think differently about risk assessment and the nature of professional evidence." While professionals don't need to be technical experts, they need sufficient understanding to exercise appropriate judgement. Being an AI specialist in every application is impossible. Instead, the profession needs to develop consistent frameworks that ensure uniformity in language and practice across different projects and applications. The report points out that accountants are uniquely positioned to harness AI's potential while maintaining robust safeguards. But their role in AI risk management extends beyond traditional financial controls. Moving forward, their contribution must reflect a three-layered approach: data, architecture, and business impact. Brisbourne added: "Organisations need to build principles of transparency, accountability and clear procedures for monitoring and improvement into their AI adoption and implementation plans. If they do that, they'll find themselves well-positioned to leverage new capabilities and meet changing regulatory and stakeholder expectations." Read the shorthand report. Middle East media contacts: Natalie Glorney natalie@ Sheila Tobias sheila@ For media enquiries, contact: ACCA News Room E: newsroom@ About ACCA We are ACCA (the Association of Chartered Certified Accountants), a globally recognised professional accountancy body providing qualifications and advancing standards in accountancy worldwide. Founded in 1904 to widen access to the accountancy profession, we've long championed inclusion and today proudly support a diverse community of over 252,500 members and 526,000 future members in 180 countries. Our forward-looking qualifications, continuous learning and insights are respected and valued by employers in every sector. They equip individuals with the business and finance expertise and ethical judgment to create, protect, and report the sustainable value delivered by organisations and economies. Guided by our purpose and values, our ambition is to lead the accountancy profession for a changed world. Partnering with policymakers, standard setters, the donor community, educators and other accountancy bodies, we're strengthening and building a profession that drives a sustainable future for all. Find out more at:
