How Technology Can Eliminate Busy Season
Pellegrini, Jaime L., 1997--
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Busy season is an overwhelming period for accountants who become inundated with an enormous amount of work that needs to be completed before looming deadlines. The purpose of this research project is to analyze how further use of technology can lessen or altogether eliminate busy season for audit and tax professionals in public accounting. Four methods and technologies are explored in this paper: continuous auditing, continuous monitoring, robotic process automation, and 5G technology. Continuous auditing and continuous monitoring aim to transform current periodic audits into a continual process. Robotic process automation focuses on streamlining repetitive, straightforward tasks for tax and audit professionals to reduce that respective workload and shift their focus towards higher-skilled work. 5G technology is explored as a means to enhance current procedures and assist in the execution of the first three methods. Overall, by incorporating any one to all four of these methods and technologies, public accounting firms have the capability to vastly reduce and eliminate the need for a busy season. This paper was compiled of journals, articles, and brochures published by public accounting firms, CPAs, as well as technology specialists. In addition, I drew upon my personal knowledge and experiences of some topics and technologies.