While the remote work arrangement has decreased since the end of the COVID-19 pandemic, employers are showing a preference for the hybrid arrangement. Rather than require a full return-to-office schedule, employers are offering employees a hybrid arrangement. The hybrid worker by the numbers A hybrid working arrangement permits employees to work remotely for part of the work schedule. The number of in-office days of such arrangements varies, but according to a recent study by Webex with over 14,000 employees and 3850 employers across 19 countries participating, the average hybrid arrangement i ..read more

Let CoCounsel be your trusted partner Gain unrivaled expertise with GenAI technology to become a pioneer in the tax and accounting industry with CoCounsel. Save time with internal processes Accelerate workflows by relying on generative AI as an efficient research tool. Vet tax positions, tackle questions, and empower junior staff to find answers. Increase productivity Conquer complex tax questions faster than ever. Bolster your tax and accounting knowledge without poring over multiple references and layers of content. Improve communication Answer questions in real ..read more

Subscribe on LinkedIn CoCounsel will revolutionize the way you work In times of change and complexity, our powerful technology and generative AI help you move faster, see further, and accomplish more. Today, we are evolving our technological capabilities, empowering you to focus on what matters most. Discover CoCounsel, the powerful generative AI assistant, aimed to transform how professionals work and access information. From speeding up mundane tasks to delivering trusted answers and insights, CoCounsel is revolutionizing workflows and saving valuable time. Explore how CoCounsel will revolut ..read more

The emergence of generative artificial intelligence (GenAI) has sparked both excitement and apprehension in the tax industry, with professionals divided on its potential impact.  Jump to:   Perceptions of GenAI    How are tax professionals using GenAI?     Training and policies    The future of work    New Report: 2024 Generative AI in Professional Services Explore all the latest comprehensive insights into how GenAI is shaping professional services. Access full report   The new report  The Tho ..read more

Jump to:  How AI-powered research tools streamline research processes  How cloud-based accounting software and automation tools enhance efficiency  How data analytics and visualization tools provide insights  How continuous training and professional development programs are essential  Unlocking the potential of AI to address concerns about staffing accountants Today’s tax and accounting professionals face a wide variety of challenges. From a shrinking labor pool to ever-changing tax regulations to increased client demands, many accoun ..read more

Jump to:  The impact of AI on business protection  Navigating the shifted focus on consulting  Automating the traditional method   It is a transformational time for businesses as artificial intelligence (AI) increasingly impacts how companies of all industries operate and serve their customers. The accounting profession is no exception. In fact, a growing number of accounting firms and corporations are taking a closer look at AI and how it can help them keep pace with tax law changes and ensure tax regulatory compliance.   To shed more light on the ..read more

The mounting stress experienced by tax professionals related to the tax provision process is a double-edged sword. It can cause anxiety, but may also present tremendous opportunities, according to panelists for the Thomson Reuters webinar: _____________________________________________________________________________________________ “From Compliance Necessity to Strategic Advantage: How can you master the tax provision process?” _____________________________________________________________________________________________ “The tax profession, overall, is facing some significant changes,” says Ke ..read more

Businesses that do not have sound tax provision processes are at an elevated risk of damaging their company’s financial health. That’s because interim tax reporting plays a pivotal role in providing valuable financial information between annual reporting periods. By understanding the significance of interim tax reporting and following best practices, businesses can effectively navigate this process. Why is interim reporting important? Interim tax reports give stakeholders important financial information needed to evaluate tax-related risks and opportunities, and to make informed investment or ..read more

Jump to: The evolution of artificial intelligence in the tax and accounting industry Embrace AI as a competitive advantage In today’s fast-paced world, technological advancements have become an integral part of every industry, and the tax and accounting profession is no exception. With the advent of artificial intelligence (AI), professionals in this field are witnessing a transformative shift that can enhance their capabilities and redefine the way they serve their clients. From the early days of simple calculations to the sophisticated AI systems of today, each technological mi ..read more

The pace of change experienced by today’s tax departments feels unprecedented. And, amid this transformation, tax departments are facing a host of challenges, including growing complexity, talent shortages, and financial constraints. Yet, as challenging as the rapid pace of change may be, it doesn’t relieve tax firms of the responsibility to prepare appropriately. The good news is that choosing the right technology solutions can help firms successfully navigate these choppy waters and gain a competitive advantage. Pressure mounting due to technological and regulatory changes The tax industry i ..read more