Why Accounting certification is important!

Jeff Thomson, CEO of the Institute of Management Accountants, discusses why certification is essential for accountants — even those with a MBA.

The article provides an excellent overview of the different certifications available to accountants.

https://www.forbes.com/sites/jeffthomson/2019/08/12/an-mba-is-still-relevant-but-a-certification-can-provide-differentiation/#471eaa962bf1

Calculator, pen and papers

AI part of Microsoft 365

Microsoft is infusing AI into many aspects of Microsoft 365 for Office users. Check out the following video for some of the new user friendly options.

https://www.linkedin.com/feed/update/urn:li:activity:6567816925953556480/

Unified drone laws – European Union

Drones are now a part of an auditor’s toolbox by helping with inventory and other asset verification.

Drone over orchard
Photo by Quang Nguyen Vinh from Pexels

After several incidences, including a drone shutting down Gatwick airport, the EU has drafted rules regarding the use of drones. This 70 page document is currently under feedback and will take effect in a year.

To Read more, go to: https://sfmagazine.com/technotes/august-2019-eu-publishes-unified-drone-laws/

Forensic Auditing with Excel

The role of a forensic auditor may be to identify suspicious transactions which may be fraudulent. Excel can be a useful tool to review a smaller dataset.

This Excel Zoom article shows users how to perform 5 simple forensic tests, including:

  • Identify Duplicate Transactions
  • Identify Rounded Transactions
  • Find above average payments
  • Identify a gap in transactions
  • Compare highest to 2nd highest transaction

To see the article, go to: https://excelzoom.com/five-ways-performing-forensic-audit-using-ms-excel/

Excel Tip – Text Functions #1

There are times text needs to be converted to lower case, proper case, or upper case for consistency sake. Excel provides functions to easily convert text in these cases.

However, Excel does not convert text to sentence case — the first letter only is capitalized. Using a combination of functions will easily convert text to sentence case.

The formula to convert the text in A1 is:

=UPPER(LEFT(A1,1))&LOWER(RIGHT(A1,LEN(A1)-1))

For examples, see the following:

Examples of text functions.
Examples of Text functions

Next week will continue with more useful text functions.

FaceApp – Invasion of Privacy?



A recent trend in social media is the use of FaceApp. Upload your photo and it will return an image of how you would look in the future. You may also use the app to change your appearance in a variety of manners. Although it appears to be a fun use of Artificial intelligence, are you also giving them permission to use your photo?

Images using FaceApp aging filter
Images using Faceapp aging filter

From FaceApp’s Terms and Conditions: ” You grant FaceApp consent to use the User Content, regardless of whether it includes an individual’s name, likeness, voice or persona, sufficient to indicate the individual’s identity. By using the Services, you agree that the User Content may be used for commercial purposes.  “

According to this, they can use your photo as they like — including selling it.

To read more about their policy:

https://www.businessinsider.com/faceapp-privacy-data-terms-service-russia-2019-7



New Forensic Accounting Standards

The AICPA issued new standards for those that perform forensic accounting services engagements.

The standard defines forensic services as those “provided for investigation or litigation”.

To read more about the release of standards, go to: https://www.journalofaccountancy.com/news/2019/jul/forensic-accounting-aicpa-standards-201921580.html

To review the Statement on Standards for Forensic Services No. 1, go to: https://www.aicpa.org/content/dam/aicpa/interestareas/forensicandvaluation/resources/standards/downloadabledocuments/ssfs-no-1.pdf