TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. Sales Tax Audit Triggers.

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audit Sales Tax auditor 244

RogerRossmeisl

JUNE 26, 2022

On 6/1/22, the IRS made available an update to the “Cost Segregation Audit Techniques Guide” (Publication 5653). Originally issued in 2004, the purpose of the Audit Techniques Guide (ATG) was to offer guidance to IRS auditors auditing cost segregation studies.

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audit auditor CPA Tax 246

Going Concern

JANUARY 9, 2025

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below.

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audit auditor Education accounting firms 125

Accounting Today

MAY 7, 2024

The Public Company Accounting Oversight Board sanctioned three auditors from Florida accounting firm Liggett & Webb for violations involving audit evidence, professional skepticism, and other matters.

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auditor audit Florida accounting firms 126

CPA Practice

NOVEMBER 11, 2024

We track the top products in every category and discuss them in our weekly podcasts in The Accounting Technology Lab. 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. Trullion could be a replacement for DataSnipper.

accounting firms 111

accounting firms Technology Account accountant 111

CTP

DECEMBER 2, 2024

Despite your best efforts as a tax planner, your client may still end up facing an audit. Since some audits are randomly chosen, this is an unavoidable reality for those of us in the tax field. The question is: what is our role when it comes to supporting our clients through an audit? Where do our responsibilities begin and end?

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TaxConnex

SEPTEMBER 15, 2022

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. Rightly so: Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. Not expecting an audit. Why would you get tagged for audit?

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audit Sales Tax auditor 242

Going Concern

OCTOBER 18, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Firm Watch Accountancy firm BDO fined €1.3 BDO is going to appeal the decision.

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CPA Practice

DECEMBER 9, 2024

Staff report The latest edition of the Public Company Accounting Oversight Board (PCAOB) Audit Focus series provides staff insights for auditors on audit committee communications. The regulator launched the Audit Focus series last month with critical audit matters as the first topic.

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auditor audit Account accountant 52

Going Concern

JUNE 1, 2023

In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. billion in global revenue.

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auditor audit Government Transportation 116

ThomsonReuters

NOVEMBER 4, 2024

← Blog home In the rapidly evolving field of auditing, AI-powered technologies are revolutionizing traditional processes. As emerging technologies and regulations reshape the field, many auditors find themselves grappling with outdated processes and inefficiencies. link] How can AI-powered technology help audit professionals?

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audit Technology auditor CPA 52

TaxConnex

FEBRUARY 27, 2024

Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant. There were about 1.65 in 2022, up 1.3%

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Sales Tax Account accountant 264

Withum

DECEMBER 18, 2024

Finance teams planning for their year-end financial statement audit have an even longer list of things to think about at the end of the year, including income statements, balance sheets, and, finally, the income tax provisions and disclosures that must be presented in the financial statements.

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Tax auditor financial statements income tax 122

CPA Practice

FEBRUARY 23, 2023

What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Responses were gathered from more than 4,100 accountants and 2,300 auditors.

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audit auditor Account accountant 132

Going Concern

JANUARY 1, 2025

To be fair, it wasn’t until the National Pipeline Advisory Group released their mildly anticipated pipeline report over the summer that The Powers That Be officially acknowledged this as one of the leading factors in declining accounting enrollments. ” We had almost 200 write-ins here so I won’t include them all.

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SMBAccountant

DECEMBER 16, 2020

For tax purposes, guidance may be different, but for this article’s purpose, the methods of recording R&D in a contractor’s accounting system will be discussed. Typically it is recorded when the expense is incurred in an R&D expense account. There are some exceptions to this accounting treatment.

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Government Account accountant accounted 246

Going Concern

NOVEMBER 4, 2024

HR Dive discusses the recent CPE situation at EY : A recent scandal involving online training at Ernst & Young has pulled back the curtain on the time and ethical pressures accountants and finance teams are under to balance the demands of client work with ongoing professional training requirements. Should that be allowed?

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Account accountant accounted auditor 105

CPA Practice

OCTOBER 8, 2024

According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm. Graph courtesy of BDO USA.

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audit Finance auditor Technology 143

CPA Practice

SEPTEMBER 19, 2023

A proposal issued by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would hold auditors and others more accountable when they negligently, directly, and substantially cause their firm to violate auditing standards. The deadline for public comment on the proposal is Nov.

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auditor audit accounting firms public accounting 115

Shay CPA

FEBRUARY 19, 2025

Enter: a financial audit. This tool gives you a way to validate that your company is following proper accounting practices and that your books are accurate. Thats not to say that audits arent burdensome. Thats not to say that audits arent burdensome. And this isnt just an audit-specific to-do. As of 2022, all U.S.

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SMBAccountant

JULY 14, 2020

This is the simplest form as your books match your bank account. The accrual basis of accounting matches income and expenses in the same time frame, regardless of when the money came into or left the bank account. Using cash basis accounting, Doe Co. Using cash basis accounting, Doe Co. For example: Doe Co.

Government 246

Government accrual accounting quickbooks Account 246

Going Concern

JANUARY 3, 2025

Psst, take our 2025 Predictions for the Accounting Profession survey. Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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auditor audit Rhode Island cpa firm 98

SMBAccountant

NOVEMBER 4, 2020

Quality management and accounting systems go hand in hand, especially when it comes to managing government contracts. DCAA auditors not only want to see that there is a policy in place, but there is continued effort to monitor the effectiveness through separation of duties and internal audits.

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Government Account accountant accounted 246

Accounting Today

MAY 13, 2024

The Public Company Accounting Oversight Board approved two new standards on a firm's system of quality control and the general responsibilities of the auditor in conducting an audit, albeit with pushback on the QC standard from one board member.

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auditor audit accounted accountant 128

CPA Practice

OCTOBER 18, 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review TimeCredit AI, an AI assistant for technical accountants. Tankersley, CPA.CITP, CGMA 00:00 Randy, welcome to the accounting Technology Lab sponsored by CPA practice advisor. So Brian, I know that from your perspective, you often introduce yourself as recovering auditor.

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Technology Account accountant accounted 111

Going Concern

FEBRUARY 6, 2025

Two years ago, two years after the first major private equity investment in a top 20 firm kicked off a flood of similar investments in some of the largest non-Big 4 firms in the country, the AICPA formed a task force to “look into issues raised by private equity investors in accounting.”

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audit auditor cpa firm CPA 90

CPA Practice

DECEMBER 3, 2024

UHY is getting an injection of private equity funding from Boston-based investment firm Summit Partners, calling it a significant milestone in its growth and strategic development, the top 30 accounting firm said on Dec. With this deal, more than 35% of the top 30 accounting firms in the U.S. In the U.S., UHY in the U.S.

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Non-Profits tax consultant auditor cpa firm 111

ThomsonReuters

JANUARY 21, 2025

Blog home In the ever-evolving landscape of auditing, the integration of artificial intelligence (AI) has emerged as a transformative force. AI-powered risk identification tools are revolutionizing the audit process, enhancing efficiency, accuracy, and overall effectiveness.

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audit Gaming auditor Technology 52

Accounting Insight

NOVEMBER 25, 2024

Collaboration accelerates audit process enhancements and boosts efficiency for firms Caseware , a global leader in cloud and AI-enabled audit, financial reporting, and data analytics solutions, has announced a strategic partnership with Validis, a leading accounting data extraction and standardization tool.

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audit Technology auditor bookkeeping 52

CTP

JANUARY 15, 2025

Just the mention of the word audit can strike fear into a taxpayers heartbut with enough preparation, an audit does not have to be a reason for anxiety. Each year, a number of audits are randomly chosen by the IRS, so the possibility of being audited is unavoidable even if your tax return has been filled out perfectly.

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audit auditor Legal tax return 52

Summit CPA

OCTOBER 10, 2024

account fraud What is Negligence? We recommend having these four types of bank accounts to keep financials neat. If you own a business, you must keep a separate bank account for your business and personal transactions to avoid more questions from the IRS. Information concealed during an audit.

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auditor audit tax return Tax 93

Going Concern

OCTOBER 21, 2024

People familiar with the matter told the Financial Times the UK firm had introduced the new grade to hold on to a key layer of senior accountants and consultants and to bring in external hires with higher salaries. In a matter of weeks, we should be hearing that the Pentagon has failed yet another audit. forces dominant.

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Account accountant accounted South Dakota 59

Accounting Today

SEPTEMBER 19, 2023

The Public Company Accounting Oversight Board issued a proposal to amend its rule for an individual auditor's or audit firm's contributory liability for knowingly or recklessly contributing to violations.

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auditor audit Account accounted 128

Going Concern

NOVEMBER 8, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Others work 50 hours per week and some even as low as 30 hours, MP Kemper Rojas says. “It

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Florida Mississippi audit auditor 98

Going Concern

OCTOBER 25, 2023

The paper-pushers at the PCAOB have punished another audit firm for running afoul of their rules , this time it’s Smythe of British Columbia, Canada and no one involved in this story is based in the United States except for said paper-pushers. The firm used the work of PwC Malta on the Scully audits, PKF Audisur on Tower One.

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Accounting Today

AUGUST 19, 2024

Enforcement by the Public Company Accounting Oversight Board against auditors in 2024 is off to its fastest start in recent years.

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auditor Account accounted accountant 130

Going Concern

NOVEMBER 1, 2023

The press release says: A number of Deloitte auditors in Ontario changed the date and time settings on their computer clocks to manually override controls in Deloitte’s audit software and backdate audit working paper signoffs between November 2016 and May 2018.

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auditor audit CPA Account 138