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Financial A&A news from around the web: July 17 – 21, 2023

Written on Jul 21, 2023

AI can help accounting move toward a zero-day close 
Advancements in artificial intelligence and machine learning could potentially revolutionize how accounting teams approach the close — automating and streamlining workflows to make data processing faster and more accurate, reducing the time and effort needed to complete the close.  

The accountant shortage is showing up in financial statements  
Advance Auto Parts and others have cited a lack of skilled accounting personnel for material weaknesses in their financial-reporting controls, a key predictor of restatements. 

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