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Ethical Implications of AI in Tax and Accounting Practices: Identifying Risks, Implementing Guidelines

A live 110-minute CPE webinar with interactive Q&A

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Monday, February 24, 2025

1:00pm-2:50pm EST, 10:00am-11:50am PST

or call 1-800-926-7926
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This webinar will examine the ethical implications of utilizing artificial intelligence (AI) for tax and accounting services. Our panel of ethics experts will discuss how AI is used to improve workflow and how this usage creates ethical concerns that practitioners must prepare for now.

Description

Everyone expects artificial intelligence (AI) will enhance and disrupt workflows for tax preparation and accounting. Usage of AI is already ramping up, and the impact has been substantial, even at this early stage. In the past year, we have seen an explosion of scripted robotic agents (a.k.a., dumb RPA bots) being deployed to automate repetitive workflows by pulling data, completing forms, making decisions, and following established processes. Today’s dumb bots are incapable of deep thinking and strategy, but they get work done and can perform many AP, AR, and payroll tasks as competently as a person, only faster and 24x7. This is already resulting in workforce displacement that impacts the labor market. The next generation of worker agents will be fully intelligent (a.k.a., smart bots), capable of handling any situation, making nuanced decisions on sensitive matters, and directing (not just following) the organization’s workflow. As this inevitable transformation unfolds, the tax and accounting services industry must be vigilant at imposing the highest standards of ethics.

As the use of AI scales, so do the risks. Today, the risk is mostly data security and protecting a client’s sensitive information. Tomorrow, the risk will evolve into questionable judgement calls, lack of transparency, violations of accounting practices, susceptibility to influence to commit fraud or other crimes, and more. There are ample risks associated with using AI and the related consequences can be severe.

Listen as our panel of knowledgeable AI professionals addresses managing the ethical concerns surrounding AI for tax and accounting firms.

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Outline

  1. Ethical implications of AI in a tax and accounting practice
  2. AI applications for tax and accounting practices
  3. Ethical risks and AI
  4. Exercising professional skepticism
  5. Establishing guidelines
  6. Other considerations
  7. Case scenarios

Benefits

The panel will cover these and other critical issues:

  • The significant impact of AI on tax and accounting firms
  • Recommended guidelines to implement surrounding AI usage in a tax practice
  • How to safely lean into this amazing technology
  • Appropriate professional skepticism when utilizing AI
  • Case scenarios examining dangers and considerations for AI usage

Faculty

Hickey, David
David Hickey
Principal
Baker Tilly US

Mr. Hickey is a principal with Baker Tilly’s robotic process automation (RPA) practice. He leads innovative...  |  Read More

Mahmood, Nasir
Nasir (Nas) Mahmood
Principal
Baker Tilly US

Mr. Mahmood is a principal with Baker Tilly’s digital solutions practice. He is a seasoned executive with a...  |  Read More

Scheer, Thad
Thad Scheer
Chief AI Officer
SphereOI Studios

Mr. Scheer is responsible for the AI strategy and engineering practice at SphereOI. His role is Chief AI Officer...  |  Read More

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CPE On-Demand

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