Introduction

What's changed

Why it matters

What to do next

Resources and links

AI tools can generate research and summaries instantly, but they don’t always produce reliable information. In some cases, outputs may include incorrect or fabricated references that appear credible at first glance. 

In this episode of Small Firm, Big Impact Express, Carolyn White, Manager of Library Services at Chartered Accountants Australia and New Zealand (CA ANZ), explains how accounting firms can use AI tools more safely when conducting research. 

In just a few minutes, she explores: 
Why AI tools can produce incorrect or fabricated references 
What firms should verify before relying on AI-generated information 
Practical steps to validate research outputs 
How CA ANZ Library Services can support research verification 

 Resources and further reading: 
Visit the podcast page for more resources 

AI tools can generate research and summaries instantly, but they&nbsp;don&rsquo;t&nbsp;always produce reliable information. In some cases, outputs may include incorrect or fabricated references that appear&nbsp;credible at first glance.&nbsp;
In this episode of Small Firm, Big Impact&nbsp;Express, Carolyn White, Manager of Library Services at Chartered Accountants Australia and New Zealand (CA ANZ), explains how accounting firms can use AI tools more safely when conducting research.&nbsp;
In just a few minutes, she explores:&nbsp;
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="11" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1">Why AI tools can produce incorrect or fabricated references&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="11" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1">What firms should verify before relying on AI-generated information&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="11" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="3" data-aria-level="1">Practical steps to&nbsp;validate&nbsp;research outputs&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="11" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="4" data-aria-level="1">How CA ANZ Library Services can support research verification&nbsp;</li>
</ul>
&nbsp;Resources and further reading:&nbsp;
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="10" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1"><a href="https://www.charteredaccountantsanz.com/news-and-analysis/news/podcasts/small-firm-big-impact-express">Visit the podcast page for more resources</a>&nbsp;</li>
</ul>

Need regular small practice updates on the go? Small Firm, Big Impact Express (SFBI Express) delivers essential insights for Chartered Accountants in just 5 minutes. ​ 

Each episode, we bring you the best minds across the accounting industry to share critical regulatory changes, compliance updates and emerging trends that impact you.​  

Whether you are commuting, taking a coffee break, or between client meetings, SFBI Express helps you stay up to date. Listen to find out what’s changed, why it matters, and what you need to do next. 

If you’re looking for deeper conversations and bigger-picture thinking, explore our long-form podcast, Small Firm, Big Impact, where we unpack the ideas and issues influencing the future of smaller practices. 

Need regular small practice updates on the go? Small Firm, Big Impact Express&nbsp;(SFBI Express)&nbsp;delivers essential insights for&nbsp;Chartered&nbsp;Accountants in just 5 minutes.&nbsp;​&nbsp;
Each episode, we bring you the best minds across the accounting industry to share critical regulatory changes, compliance updates and emerging trends that&nbsp;impact&nbsp;you.​&nbsp;&nbsp;
Whether you are commuting, taking a coffee break,&nbsp;or&nbsp;between client meetings, SFBI&nbsp;Express&nbsp;helps you stay up to date. Listen to find out&nbsp;what&rsquo;s&nbsp;changed, why it matters,&nbsp;and what you need to do next.&nbsp;
If&nbsp;you&rsquo;re&nbsp;looking for deeper conversations and bigger-picture thinking, explore our long-form podcast,&nbsp;<a href="https://www.charteredaccountantsanz.com/news-and-analysis/news/podcasts/small-firm-big-impact">Small Firm, Big Impact,</a>&nbsp;where we unpack the ideas and issues influencing the future of smaller practices.&nbsp;

Small Firm, Big Impact Express

AI for research: risks and best practice for small firms 

What's happened?

Ethical challenges in accounting rarely arrive as obvious dilemmas. They often show up in everyday decisions, from client pressure and tight deadlines to incomplete information or situations where something simply doesn’t feel right. 

In this episode of Small Firm, Big Impact Express, Josephine Haste, Manager for Ethics and Professional Practice at CA ANZ, explores why ethics matters in everyday accounting practice, particularly for smaller firms where close client relationships can put professional judgement to the test. 

In this episode, you’ll learn: 
How ethical pressures can arise in day-to-day practice 
Why professional judgement and client trust matter 
Practical ways to build ethical decision-making into your firm 
Where to seek guidance when an issue isn’t clear 

Resources and further reading: 
Learn more and register for Global Ethics Day: https://caanz.s.gy/a6yM8c  
Review the Code of Ethics: https://caanz.s.gy/jzypzO  
Learn about the Chartered Accountants’ Advisory Group: https://caanz.s.gy/To2PzW  
Visit the Smaller Practices Centre: https://caanz.s.gy/KLeGJV  

Ethical challenges in accounting rarely arrive as obvious dilemmas. They often show up in everyday decisions, from client pressure and tight deadlines to incomplete information or situations where something simply&nbsp;doesn&rsquo;t&nbsp;feel right.&nbsp;
In this episode of&nbsp;Small Firm, Big Impact Express, Josephine Haste, Manager for Ethics and Professional Practice at CA ANZ, explores why ethics matters in everyday accounting practice, particularly for smaller firms where close client relationships can put professional judgement to the test.&nbsp;
In this episode, you&rsquo;ll learn:&nbsp;
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="3" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1">How ethical pressures can arise in day-to-day practice&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="3" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1">Why professional judgement and client trust matter&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="3" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="3" data-aria-level="1">Practical ways to build ethical decision-making into your firm&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="3" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="4" data-aria-level="1">Where to seek guidance when an issue&nbsp;isn&rsquo;t&nbsp;clear&nbsp;</li>
</ul>
Resources&nbsp;and further reading:&nbsp;
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1">Learn more and register for Global Ethics Day: <a href="https://caanz.s.gy/a6yM8c">https://caanz.s.gy/a6yM8c</a>&nbsp;&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1">Review the Code of Ethics:&nbsp;<a href="https://caanz.s.gy/jzypzO">https://caanz.s.gy/jzypzO</a>&nbsp;&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="3" data-aria-level="1">Learn about the Chartered Accountants&rsquo; Advisory Group:&nbsp;<a href="https://caanz.s.gy/To2PzW">https://caanz.s.gy/To2PzW</a>&nbsp;&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="2" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="4" data-aria-level="1">Visit the Smaller Practices Centre:&nbsp;<a href="https://caanz.s.gy/KLeGJV">https://caanz.s.gy/KLeGJV</a>&nbsp;&nbsp;</li>
</ul>

Making ethics practical in everyday practice  

What's happened

Across Australia and New Zealand, smaller accounting firms are navigating ongoing talent pressure, changing client expectations and the accelerating impact of AI, automation and digital tools. 

In this episode of Small Firm, Big Impact Express, Karen Meredith, Co-founder of PeopleEX, explores the HR runway and why firms need to look beyond immediate resourcing issues.  

Karen explains how smaller practices can plan for the next 12 to 24 months, rethink role design, build capability and use technology to support higher-value client work. 

You’ll hear practical prompts to help your firm step back, assess the skills and structure it needs for the future, and build a more resilient team. It’s about creating enough runway now so your people, processes and technology can adapt with more confidence as the profession continues to change. 

Resources and further reading: 
Learn more about PeopleEX 
Visit the Smaller Practices Centre for general practical tools and guidance 
Build capacity in your practice with the Creating Capacity webinar series [Australia] | [New Zealand]
Listen to us on Spotify or Apple Podcasts 

Across Australia and New Zealand, smaller accounting firms are navigating ongoing talent pressure, changing client expectations and the accelerating impact of AI,&nbsp;automation&nbsp;and digital tools.&nbsp;
In this episode of&nbsp;Small Firm, Big Impact Express, Karen Meredith, Co-founder of&nbsp;PeopleEX, explores the HR runway and why firms need to look beyond immediate resourcing issues.&nbsp;&nbsp;
Karen explains how smaller practices can plan for the next 12 to 24 months, rethink role design, build capability and use technology to support higher-value client work.&nbsp;
You&rsquo;ll&nbsp;hear practical prompts to help your firm step back, assess the skills and structure it needs for the future, and build a more resilient team.&nbsp;It&rsquo;s&nbsp;about creating enough runway now so your people, processes and technology can adapt with more confidence as the profession continues to change.&nbsp;
Resources and further reading:&nbsp;
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1">Learn more about&nbsp;<a href="https://caanz.s.gy/jxe09G">PeopleEX</a>&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1"><a href="https://caanz.s.gy/jxe09G">Visit the Smaller Practices Centre for general practical tools and guidance</a>&nbsp;</li>
</ul>
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="3" data-aria-level="1">Build capacity in your practice with the Creating Capacity webinar series [<a href="https://caanz.s.gy/6Ew6zv">Australia</a>] | [<a href="https://caanz.s.gy/R5OLQ5">New Zealand]</a></li>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="3" data-aria-level="1">Listen to us on <a href="https://caanz.s.gy/zmbeIC">Spotify</a> or <a href="https://caanz.s.gy/JkWgAl">Apple Podcasts</a>&nbsp;</li>
</ul>

The HR runway: preparing smaller practices for what comes next 

What happened?

PPSA compliance can be easy to overlook, but missing the right steps can have serious consequences for clients who hold, lease, hire or supply business assets. 

In this episode, Simon Read, Founder and Director at PPS Advisory, explains why structure alone may not protect assets in an insolvency scenario, and what smaller practices should be aware of when advising clients with asset protection structures, related-entity leasing arrangements, financed equipment, or equipment supplied to customers. 

In this episode, we cover: 
Why PPSA compliance matters for asset protection structures
How clients can lose ownership interests in plant, equipment or vehicles
Which client arrangements may create PPSA exposure
How accountants can help clients spot the issue early and seek specialist advice where needed 

Resources and further reading: 
Visit the Smaller Practices Centre for general practical tools and guidance 
Learn more about Simon Read CA and PPS Advisory 

Helpful checklists from PPS Advisory
PPSA checklist for equipment owners, hirers and leasing businesses
PPSA checklist for businesses selling goods on credit

These third-party resources are provided for general information only and do not constitute legal advice. Consider seeking professional legal advice for your circumstances.

PPSA compliance can be easy to overlook, but missing the right steps can have&nbsp;serious consequences&nbsp;for clients who hold, lease, hire or supply business assets.&nbsp;
In this episode, Simon Read, Founder and Director at PPS Advisory, explains why structure alone may not protect assets in an insolvency scenario, and what smaller practices should be aware of when advising clients with asset protection structures, related-entity leasing arrangements, financed equipment, or equipment supplied to customers.&nbsp;
In this episode, we cover:&nbsp;
<ul>
<li>Why PPSA compliance matters for asset protection structures</li>
<li>How clients can lose ownership interests in plant, equipment or vehicles</li>
<li>Which client arrangements may create PPSA exposure</li>
<li>How accountants can help clients spot the issue early and seek specialist advice where needed&nbsp;</li>
</ul>
Resources and further reading:&nbsp;
<ul>
<li><a href="https://www.charteredaccountantsanz.com/member-services/smp-resource-centre">Visit the Smaller Practices Centre for general practical tools and guidance</a>&nbsp;</li>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="54" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="1" data-aria-level="1"><a href="https://ppsadvisory.com.au/">Learn more about Simon Read CA and PPS Advisory</a>&nbsp;</li>
</ul>
Helpful checklists from PPS Advisory
<ul>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="54" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1"><a href="https://qrco.de/bgr0MV">PPSA checklist for equipment owners, hirers and leasing businesses</a></li>
<li aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="54" data-list-defn-props="{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}" data-aria-posinset="2" data-aria-level="1"><a href="https://qrco.de/bgvFDg">PPSA checklist for businesses selling goods on credit</a></li>
</ul>
These third-party resources are provided for general information only and do not constitute legal advice. Consider seeking professional legal advice for your circumstances.

AI for research: risks and best practice for small firms

Small Firm, Big Impact Express

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