Identity fraud: when AI attacks

From cpaaustralia.com.au: The Tax Practitioner Board and Australian Taxation Office mandate that tax practitioners verify clients’ identities through specific documentation before offering services.

With the rise of AI-driven identity theft, businesses are warned to adopt robust client verification processes to mitigate risks of fraud, such as using secure communication methods and identity verification services.… read more

Give the ATO more money, says The Tax Institute

From www.themandarin.com.au: The Tax Institute calls for increased permanent funding for the ATO to enhance tax administration and reduce uncertainties caused by unenacted measures.

Julie Abdalla of TTI emphasizes that sufficient resources are needed for the ATO to effectively address evolving economic situations and improve guidance on tax laws.… read more

Swiss Alert Tax Evasion and Personal Responsibility

From alvarezandmarsal.com: Swiss administrative criminal law emphasises personal responsibility in tax evasion cases, extending beyond the taxpayer to individuals involved in tax dealings.

A recent court decision highlights this, stressing the importance of compliance with Swiss tax laws, especially withholding tax, and the potential implications for other taxes like VAT.… read more

AI in advisory: What work is at risk for accountants?

From www.accountingtoday.com: Artificial intelligence is increasingly impacting advisory services, particularly those that are transactional and rely heavily on data analytics.

Services such as internal process mapping, tax notice management, financial modelling, and certain aspects of cybersecurity face the greatest risk of disruption.… read more