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Every business needs sound accounting policies and procedures. While accounting firms often help clients identify the guidelines they need to have in place to protect themselves, prevent fraud and operate efficiently, firms sometimes neglect their internal operations. Two critical internal policies and procedures every firm needs to address are expense reimbursement and company credit card usage. These policies can help your firm establish rules that promote financial account

In the accounting profession, it's critical to stay ahead of the curve when it comes to technological advancements shaping how you do business and serve your clients. Generative artificial intelligence (AI), including ChatGPT, is one such technology that has emerged in the past year. While there's lots of buzz about ChatGPT and other Generative AI platforms in the media, many firms still aren't sure what its practical uses are or if they should implement policies around it.