The implications of AI on financial reporting
School of Management hosts free panel discussion
By Alexandra Richter
The evolving landscape of artificial intelligence offers the world of accounting and finance the opportunity to streamline processes and enhance efficiency, and this spring, the School of Management hosted a panel of experts for a free lecture.
Presented by the school’s Helen and Oscar Sufrin Lectureship in Accounting, the panel discussion was moderated by Adam Storch, BS ’02, senior officer at the U.S. Securities and Exchange Commission. Storch established and leads the SEC’s Event and Emerging Risks Examinations Team, which examines new and emerging technologies such as alternative data and AI.
The panel included Hero Alimchandani, BS ’04, managing director in Deloitte’s National Office; Bruce Karpati, JD ’96, partner and chief compliance officer for KKR; and Rose Hu, BS/MBA ’09, clinical assistant professor of accounting and law and director of the MS in Accounting program in the School of Management.
As current and future accountants navigate the implications of AI and seek to maintain a competitive edge in the profession, the discussion was timely for students and professionals.
“The Sufrin lecture made me more intentional about the skills I want to cultivate for my career in public accounting,” says Sunny Chen, BS ’24, MS ’25, incoming audit intern at EY. “As we imagine the profound transformations of AI within the next five years, understanding how we can effectively use and interact with AI will empower us as aspiring professionals to spearhead innovation and develop products to enhance client service.”
Throughout the event, Storch, Alimchandani, Karpati and Hu discussed how AI has impacted their careers, and what changes they anticipate moving forward. Their insights highlighted the skill sets new graduates will need as they join the workforce, recognizing the increasing importance of soft skills such as intellectual curiosity as well as the ability to provide professional judgement based on outcomes generated by AI systems.
The Helen and Oscar Sufrin Lectureship in Accounting brings distinguished business professionals to the UB School of Management to speak about accounting issues. Funding is provided through the generous support of Leslie Sufrin, CPA, and Gerald Sufrin, MD, a longtime UB professor, in honor of their late parents.