AI-Based Accounting and Tax Services Revolutionizing the Industry with ChatCPA (Beta) Integration

The Korea Institute of Certified Public Accountants (KICPA) has announced the launch of a new AI-based accounting and tax service called ChatCPA (Beta), designed exclusively for its members. This innovative tool provides knowledge information on accounting and taxation, including accounting standards, question and answer data, tax code rules, and precedents.

ChatCPA is a collaborative project between the KICPA and the Youth CPA, marking the first AI service that members can actually use for their work. The beta version of ChatCPA is equipped with essential resources such as K-IFRS accounting standards and approximately 260,000 tax law-related rules and precedents. Additionally, the platform will continuously update with new professional information necessary for practice.

One of the key benefits of ChatCPA is its ability to quickly search and analyze information, significantly reducing the time accountants spend on research. The service also provides reliable answers by clearly presenting the source and rationale behind the responses generated by large-scale language models (LLM) for questions written in natural language.

Chairman Choi Woon-yeol emphasized the importance of AI in the accounting profession, stating that the utilization of AI will be an essential competency for accountants in the future. He highlighted the KICPA’s commitment to supporting accountants in increasing efficiency and creating greater value through AI.

With the launch of the beta version of ChatCPA, the Korean CPA aims to accelerate digital innovation in accounting and taxation, presenting a new paradigm for the industry. The institute plans to gather feedback from members to improve the service continually and provide practical and innovative support to enhance productivity and adapt to changing environments.

Overall, ChatCPA represents a significant step towards leveraging AI technology to streamline accounting and tax processes, ultimately empowering accountants to perform their work more efficiently and professionally.