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New Jersey CPA Society Announces Ovation Awards

CPA Practice

The New Jersey Society of Certified Public Accountants ‘ has announced that 40 individuals are the recipients of its 2024 Ovation Awards in seven categories: Lifetime Leader; Diversity, Equity & Inclusion; Exceptional Educators; Emerging Leaders; Impact; Innovation; and Women to Watch. Centeno, CPA, MBA — Director, Smolin, Lupin & Co.,

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IRS Begins Audits of Corporate Jet Usage

RogerRossmeisl

As reported in IR-2024-46 Using Inflation Reduction Act funding and as part of ongoing efforts to improve tax compliance in high-income categories, the Internal Revenue Service announced on 2/21/24 plans to begin dozens of audits on business aircraft involving personal use.

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Disclosures Regarding Audit Firm Oversight Have Plateaued, CAQ Report Finds

CPA Practice

A new analysis of audit committee disclosures of companies in the S&P 1500 reveals a plateau in disclosure rates across several areas important to investors, including considerations in appointing or reappointing the external auditor, length of auditor tenure, and how the audit committee evaluates audit fees in relation to audit quality.

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So How Did Your 2024 Predictions For the Accounting Profession Work Out?

Going Concern

At the start of last year we ran a little survey asking readers what they thought would be the biggest issues impacting the profession in 2024. What will be the biggest issue affecting the profession in 2024? The 2024 predictions survey also asked if there are any issues that aren’t being talked about and should be.

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What TF Is Going on With CPA Exam Pass Rates?

Going Concern

The CPA Exam remains broken. Q4 2024 Pass Rates: Core: FAR – 36.80% AUD – 43.50% REG – 60.40% Discipline (Candidates Choose 1): BAR – 33.70% TCP – 72.20% ISC – 56.40% A few thoughts: The consensus on the new exam was FAR would see higher pass rates as difficult material moved to BAR.

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Here Are Tax and Audit Salaries at Top 25, Top 300, and Regional Firms

Going Concern

Recruiting firm Brewer Morris has released its 2025 US CPA salary guide and should you want to read the whole thing you can request it from them here. Or an audit senior in Washington, DC getting $87,000 from a regional firm and a senior manager in tax with a salary of $160,000 at a top 10 CPA firm in Atlanta.

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Decisions 2024: The Opportunities for Accounting Firms Have Never Been Greater

CPA Practice

In the coming months, my K2 organization and this column will continue to cover useful AI tools for Client Accounting Services (CAS), tax, and audit. Batch Extensions from HubSync : Helps CPA firms prepare extensions in bulk. AuditBoard : Offers robust risk management and audit automation features.