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Monday Morning Accounting News Brief: EY Wants to Buy; Losers Dump NFTs For Tax Purposes; CPA Demand in 2031 | 1.9.23

Going Concern

A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.

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AICPA Foundation Accepting Applications for CPA Exam Scholarships

CPA Practice

The AICPA Foundation , established in 1922 to advance accounting as a learned profession and promote its future, is offering more than $75,000 in scholarships for CPA Exam candidates and college accounting students. The CPA Exam Scholarship is available to U.S. The CPA credential opens the door to many professional opportunities.

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Friday Footnotes: PwC Slashes Partner Class; Accounting Firm Rescues Dog; Do We Still Need CPAs? | 4.19.24

Going Concern

CPAs Have a Branding Problem for the Younger Generation [ CPA Journal ] By Jason L. Ackerman, CPA, CFP, CGMA Probably the hottest topic in the profession over the past few years has been the pipeline problem: Firms can’t find qualified individuals to handle the increasingly complex world that CPAs deal with on an ongoing basis.

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CPAs to Clients: The IRS is Coming for Cryptocurrency

CPA Practice

The IRS’s strategic operating plan for 2023 through 2031 lays out the agency’s intention to ramp up enforcement action related to digital assets, according to Green Tree, PA-based accounting firm H2R CPA. The IRS is looking for unreported assets,” said Lucas Rihely, a tax partner at H2R CPA. And that’s just the beginning.

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Meeting the Staffing Demands: How Automation is Transforming Accounting Firms

CPA Practice

This surge in demand for CPA services comes at a time when experienced public accountants are exploring alternative career options, and fewer graduates are entering the profession. It offers a buffer against the challenges of recruiting new staff and retaining seasoned CPAs.

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Extending Outsourcing Contracts Can Alleviate Shortage of CPAs

CPA Practice

Projections indicate that demand for accountants and auditors will increase by 13% between 2021 and 2031, with an estimated 136,400 job openings between 2021 and 2023. accounting profession is facing a severe shortage of certified accountants.

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How Offering Financial Planning Can Enhance Your Credibility as an Accountant

CPA Practice

According to the American Institute of CPAs, the demand for financial planning services is at an all-time high. Bureau of Labor Statistics predicts that the need for financial advisors will grow 15% between now and 2031. John Graziano, CPA, PFS, CFP® is president of FFP Wealth Management, a financial planning and management firm.