Where AI tools can help in a small accountancy practiceUses of AI tools in a small practice, from reading receipts to drafting letters, with the limits of each and the review the professional bodies expect.What ICAEW, ACCA, AAT and ICAS have published on AIThe AI guidance published by ICAEW, ACCA, AAT and ICAS, with dates and links, and the ethics principles it rests on, chiefly due care and confidentiality.AI tools and UK data protection for accountantsThe ICO's guidance for a practice using AI on client data: lawful basis, DPIAs, transparency, accuracy, automated decisions, processors and transfers.Client confidentiality and AI suppliersHow the duty of confidentiality in the accountancy codes of ethics applies to AI tools, and the questions to put to an AI supplier before client data goes in.AI tools and anti-money laundering duties in a practiceHow the Money Laundering Regulations 2017 apply when a practice uses software for ID checks and screening, with record keeping, reporting and tipping-off risks.How to check AI output before it reaches a clientA review method for AI output in accounts and tax work: source every figure, re-perform calculations, agree to the ledger and keep evidence of the review.What a small firm's AI policy coversAn outline of an AI policy for a small accountancy practice: approved tools, data rules, engagement letter points, review, records, training and incidents.
AI in accounting
How a small practice can use AI tools within its professional and legal duties: where they help, what ICAEW, ACCA and AAT have published, the ICO's guidance on data protection, confidentiality and questions to ask a supplier, anti-money laundering, checking the output, and an outline of a firm's AI policy.