GDPR, Something Stringent Building Sway, Part IV
GDPR an Overview: International Issues And Challenges The General Data Protection Regulation (GDPR) raises international concerns and challenges. Firstly, data transfers to third countries and international organizations are problematic. It has ineffective and inefficient mechanisms for cooperation among supervisory authorities in different states. It has limits in its extraterritorial application and enforcement, and, lastly, its impact and influence on other […]
GDPR, Something Stringent Building Sway, Part III
GDPR, Pixabay, Pixabay Content License GDPR an Overview: Data Subject Rights, Remedies, and Terminology Last time we considered the applicability and the principles of the GDPR. Now we take a closer look at the rights, including but not limited to the right to be informed, the right to erasure, the right to restriction on processing, and the right […]
GDPR, Something Stringent Building Sway, Part II
GDPR an Overview: Applicability and Principles Previously we noted that the General Data Protection Regulation (GDPR) addressed the inadequacies of EU law Directive 95/46/EC, so formally it is a comprehensive and complex law that regulates how personal data of individuals in the European Union (EU) and the European Economic Area (EEA) is collected, processed, stored, and transferred. […]
GDPR, Something Stringent Building Sway
GDPR’s Precursor Beginning in the 70s, then through the 80s and 90s, given the increased use of information and communication technology (ICT) in private and official activities, growth in international trade, globalization, and resultant cross-border communications and information flows, and the growing concerns of data subjects (users) for privacy and the preservation of other rights legislation for data protection seemed […]
Recapitulation of Generative AI Use in Accounting
Recapitulation of Generative AI Use in Accounting Over the past seven-series articles, which began on January 5, 2024, we considered generative AI use in accounting: more precisely the promise and the practice of generative AI capabilities, the risks of generative AI use in the accounting practice, accountancy standards and regulatory bodies, the policies of those bodies regarding generative AI, […]
Private Database Implementation of Generative AI in Accounting
A private database is a data source that is not publicly accessible or shared with anyone else. It can help prevent data leakage, help maintain the accounting client confidentiality, and assure compliance with data protection laws and regulations, such as the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA,) when using a large language model like […]
Custom API Script and Plugins for Generative AI in Accounting
Last time we looked at the manual use of generative AI in accounting. We noted the limitations of manual use in larger-scale accounting operations. As such we recommended using custom application programming interface (API) scripts and plugins where and when manual operations can become tedious. On the one hand, custom API scripts are pieces of […]
Implementation of Generative AI (LLM System) in The Accounting Practice
Last time, we recounted the policies regarding AI use in the accounting industry by regulatory bodies. This time, in our discussion of an accounting AI system, we will focus our attention on selected, technical LLM accounting solutions and less so on a project integration plan for the implementation of such. So, see the implementation tab […]
Accountancy Standards and Regulatory Bodies Policies on Generative AI
Last time we enumerated the standards and regulatory bodies that can have a say on the use of generative AI in accountancy, in the United States. Now, we look at the various policies and statements of these USA-based bodies with regard the use of generative AI. Some have not made any rule on generative AI […]
Accountancy Standards And Regulatory Bodies
Regulatory Bodies With Say Vis-à-vis Generative AI Previously we looked at risks to an accountancy practice associated with the use of generative AI and considered measures for their mitigation. Now, in anticipation of governmental policy and recommendations and guidelines of the accounting industry regulatory and standards bodies for generative AI use, we enumerate the relevant standards and […]