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Artificial Intelligence for the Accountancy Industry - What Lies Ahead (AI Whitepaper)

Artificial Intelligence (AI) would be a game changer for the accountancy industry. ISCA adopts a human-centred AI perspective, which regards AI as a tool to augment and complement the work of accountancy and finance professionals, rather than to replace them. This AI whitepaper covers ISCA's research to understand the sentiments on, readiness for, and problem statements about AI for the accountancy industry, as well as the potential of AI augmentation for accountancy careers.

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Artificial Intelligence and Work: Two Perspectives

The impact of intelligent technologies on human work is a pressing issue in contemporary society. In this article, Professor Steven Miller and Thomas Davenport take a closer look at the findings of MIT's Work of the Future Task Force in 2018, comparing them against their real-world case study observations.

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State of Play of IA

State of Play of Intelligent Automation in the Finance Function

ISCA, AI Singapore and NUS Business School have collaborated to produce a report titled, “The State of Play of Intelligent Automation in the Finance Function”. The project seeks to discover the risks and benefits for an organisation in implementing intelligent automation (IA) solutions; provide insights into the prevalence of IA adoption; uncover the expectations of the C-suite when implementing IA in the Finance function, and provide recommendations for organisations considering the adoption of IA solutions.

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DA report

Data Analytics Adoption in Singapore SMEs

ISCA, Singapore Institute of Technology and RSM Singapore have produced a joint report titled, “Data Analytics Adoption in Singapore SMEs”. This study seeks to understand the adoption of data analytics (DA) among Singapore small and medium-sized enterprises (SMEs) by examining their readiness and technological capability of adopting DA, the extent of analytics tasks embraced, the perceived “usefulness” of DA and their reasons for adopting or rejecting DA.

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ISCA- ICAEW “Fintech Innovation: Perspectives from Singapore and London” Publication

The efficiency, convenience and reach of financial services has been significantly enhanced by the development of the fintech industry. Today, services including payments, insurance, lending, capital raising and investment management have all benefited from the boom in fintech...

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Artificial Intelligence: Opportunities, Risks and Implications

In this publication titled “Artificial Intelligence: Opportunities, Risks and Implications”, we examine the opportunities, risks and implications of AI use, particularly in the context of the accounting and finance industry, and how we can equip ourselves to deal with such future scenarios. As with any new trend, a healthy perspective towards AI would be to embrace the possibilities it can bring, while also being alert to the potential risks.

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Blockchain: Re-imagining Multi-Party Transactions for Businesses

Blockchain has been popularised by Bitcoin, the cryptocurrency. However, there are many other potential applications. This joint publication with IBM focuses on how blockchain can be applied to businesses, especially in highly regulated industries like financial services. We will describe some of the key concepts in blockchain for businesses, potential use cases, and considerations for adopting the technology.

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State of Play of Intelligent Automation in The Finance Function

While digitalisation of the economy and investments in intelligent solutions have been active in recent times, the COVID-19 pandemic has accelerated this trend, which is growing across the globe. A Euromonitor International survey completed in April 2021 showed that 30% of companies globally plan to increase spending on automation tools in the next five years. For many functions within an organisation, this will involve having to adapt quickly to stay relevant and competitive...

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Don’s Column: Intelligent Automation

Enterprises, in their endeavours to accelerate digital transformation, have been increasingly adopting smart automation technologies to enhance business performance and process efficiency, and also to reduce costs. Automation is gaining momentum to help industries accelerate digital transformation. Within a short span of time, automation has shifted from a native approach to multiplatform. One key challenge to the native approach is that different software may not be able to interact with each other...

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Finance Disrupted

There should be no doubt that today’s business world is on the cusp of another revolution – a technological revolution, and one that is upending traditional business strategies and disrupting the status quo.

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Using Data Analytics in a Financial Statements Audit

Technology leverage has been all the rage in recent times as businesses, and even entire industries, seek to fend off disruptors and/or chase growth. For the audit industry, data analytics has been touted as a potential game-changer as the profession seeks to innovate its way to more effective audits in the face of mounting expectations, business complexity and volume of transactions.

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