International Financial Reporting Standards is a complicated accounting framework used by accountants on a regular basis to check accounting treatments and guidance. IFRS® Standards aren’t always easy to navigate and scrolling through pages is often a waste of time. Finance teams experience a high volume of repetitive questions, necessitating the need for a quick reference to the Standards.

The KPMG Financial Accounting and Reporting Assistant is a chatbot tool trained in IFRS Standards that answers easy and moderately complex accounting questions. This saves time and encourages self-service by finance teams. Version 1.0 of the tool includes IFRS 16 Leases.

Chatbot tool features:

  • Increases reference to the regulations and quality of reporting
  • Has embedded examples used to explain certain principles
  • Identifies FAQs to narrow down areas of training
  • Has a quick reference chatbot for easy to moderate questions, which can help save time
  • Has an audit trail on chatbot responses that can be used as support for accounting decisions

Questions to ask yourself:

  • Would you like an instant assistant available 24/7?
  • Is your current search functionality as good as a chatbot?
  • Are you looking to introduce self-service IFRS Standards guidance within the finance function?
  • Is there limited time of technical accounting resources?

  

  

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