Enrico Palmerino, the CEO of shuttered accounting tech company Botkeeper, said it was hit by a perfect storm of market consolidation.

Jim Peko, the CEO of Grant Thornton Advisors, says it was only by abandoning a vision of incremental change that the firm was able to achieve its current rapid growth.

Accounting solutions provider Basis announced that it has raised $100 million in Series B funding at a $1.15 billion valuation.

As companies shift critical AI workloads toward owned or more controlled infrastructure, several accounting dynamics may change.

Botkeeper, which abruptly shut down earlier this month, has found a new lease on life as the Botkeeper Infinite platform after being acquired by Xendoo.

Plus, Propense unveils Hatfield client service AI; Skipentry premieres with QBO data extractor tool; and other accounting tech news and updates.

In the span of a year, generative AI has moved from a curiosity to a daily conversation in tax and accounting.

The Committee of Sponsoring Organizations of the Treadway Commission has released guidance outlining ways that organizations can achieve and maintain effective internal controls over generative AI.

A number of different factors — technological, conceptual, organizational — have been stymieing efforts to successfully implement artificial intelligence.

Thomson Reuters is developing its own AI foundation model, trained on TR's own content stores as well as a collection of PhD-level researchers and other academics.

Thomson Reuters previewed its latest CoCounsel AI agent as a fully autonomous assistant that can deliver a work product it described as "human-level."

Industry experts seek the potential causes of the sudden demise of Botkeeper, from accounting firm M&A to changes in AI, and beyond.

The startup has raised $138 million to date and said its platform is used by about 30% of the top 25 accounting firms and 20% of the top 150 firms.

Accounting firms can't simply focus on showing up in online search results; they also need to focus on appearing in AI searches on Gemini, ChatGPT and Claude.

Plus, TaxRock announces 2.0 edition; MyCPE One launches comprehensive learning and development services; and other accounting tech news and updates.

While most taxpayers tend to procrastinate on doing their taxes, they're even more hesitant to trust artificial intelligence to do their taxes for them.

Payroll data from Gusto finds that small businesses that use AI more tend to hire slightly more people, but this does not necessarily favor younger people in their early career, or those in heavily AI-exposed occupations.

AI-enabled fraud has become so sophisticated more than one-third of senior internal audit leaders aren't even sure whether or not their organizations have been the targets of any attempts.

Sage announced the latest version of its Sage Intacct solution, which now features AI agents for finance intelligence and data imports.