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If you've already taken it, move along! Here are the 7 things you missed today:
1. ⚖️ Your Chatbot Just Became a £35M Liability
As of August 2nd, the EU AI Act requires any AI system accessible to EU users to have clear labeling and disclosure. Companies face fines of €35 million per incident or 7% of global annual revenue — whichever is higher. The real kicker? They can shut down your AI systems entirely, potentially stopping your business cold. (CFO Dive)
2. 💻 Struggling with Month-End Close? You Need Process Automation.
You're not slow at closing books. You're buried in manual tasks that shouldn't exist in 2025. This free guide shows 15 finance processes you can automate right now to cut your close time in half. Download your copy now.
3. 💰 UK Declares War on Late Payments with £4B Plan
PM Keir Starmer unveiled aggressive new rules: mandatory 30-day invoice verification, 60-day maximum payment terms, and board-level scrutiny of payment practices. With 38 UK businesses closing daily due to cashflow issues, this €4B plan targets large firms using small suppliers as unofficial lenders. (AccountingWeb)
4. 📊 This CPA Firm Modernization Strategy Actually Works
Tech modernization fails because of bad change management, not bad software. Successful firms start with pilots, update basic templates first, and celebrate small wins. Five-minute team tips drive more adoption than hour-long training sessions. The secret? Align new systems with how people actually work. Read the full transformation playbook.
5. 🏛️ UK Treasury Eyes Lifetime Cap on Tax-Free Gifts
The seven-year inheritance tax rule might be history. The Treasury is exploring a lifetime cap on tax-free gifts, similar to US rules. Currently, only 4.6% of deaths trigger inheritance tax, but changes could dramatically expand that number. (The Guardian)
6. 🔐 Quantum Computing Wants to Stop Fraud Before It Happens
Quantum algorithms can predict fraud before transactions finalize by processing vast datasets in parallel. For accounting, this means reconciling cross-ledger accounts in seconds and handling complex audits instantly. The UK is positioned to lead this revolution. (Finextra)
7. 🛡️ Finance Leaders Are Building Crisis-Proof Organizations
Resilient organizations use uncertainty as fuel for innovation. Finance leaders breaking out of silos and collaborating across teams build companies that thrive during disruption. The key? Building cultures where everyone understands their role in shared goals. (AICPA & CIMA)