84 %
1.6M
40 %
20K +
89 %
$ 20M
nt
news & trends
AIgaining traction
“ Audit partners see challenges ahead for businesses as inflation remains above historic levels , new regulations affect compliance costs and cybersecurity threats remain high .”
– Center for Audit Quality CEO Julie Bell Lindsay
AI
When it comes to the use of generative AI ( GenAI ), a survey of finance executives at companies with annual revenues of $ 1 billion or more found :
50 % have either deployed or piloted GenAI solutions for financial reporting functions .
52 % expect AI to attract more talent to financial reporting roles .
65 % expect auditors to evaluate their use of AI either by conducting third-party attestation or detailed reviews of control environments .
70 % of those using AI expect to implement it more broadly over the next two years .
– KMPG the numbers
84 %
The number of employees who expect learning and development programs among job perks .
– edX
1.6M
The number of accountants employed in the U . S . in 2023 , 15.9 % fewer than in 2019 .
– Bureau of Labor Statistics
40 %
The amount drained from Americans ’ pandemic savings because of inflation .
– Santander U . S . Capital Markets
20K +
The number of employee retention credit disallowance notices sent by the IRS .
– IRS
89 %
The number of accountants who believe their roles will never be replaced despite technological advances .
– ShareFile
$ 20M
The amount in fines issued by the PCAOB in 2023 , topping the previous record of $ 11 million .
– PCAOB
4 CALIFORNIA CPA MARCH / APRIL 2024 www . calcpa . org