Are Financial Statements Dead?
Are financial statements relics of the past? A myriad of financial tools and alternative sources of information have crowded a space once dominated by financial statements and the accountants who prepared them. But as AI grows more sophisticated and the sources of financial data continue to expand, can CPAs maintain their role at the centre of economic activity? David McGuffin speaks with Jon Lukmonik, Managing Director of Sinclair Capital and Cathy Cobey, the EY Global Trusted A.I. Advisory Leader, about how big data and AI change everything about investing. And how CPAs need to respond to thrive in this new environment. “(CPAs) need to understand how financial statements link to the broader universe of data, And if that happens, the centrality of the profession to the economy will continue. But if not, then, unfortunately, they could become the weavers of the 21st century," says Jon Lukomnik. In this episode, they discuss: 1m:00s How investing has dramatically changed over the past two decades and the