Accounting Today

MAY 23, 2024

Traditional audits may hinder business growth potential as accounting firms are slow to embrace modern approaches, according to an Inflo report.

audit 131

audit accounting firms Account accountant 131

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. When retaining talent, more than 85% of accountants and 90% of auditors said it is either somewhat or extremely difficult.

audit 132

audit auditor Account accounted 132

ThomsonReuters

OCTOBER 4, 2023

Jump to: How many accounting firms use AI? How do smaller accounting firms use AI? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. How many accounting firms use AI? How do the Big 4 use artificial intelligence?

accounting firms 111

accounting firms Technology Account accounted 111

Going Concern

NOVEMBER 4, 2024

You’ve likely heard of people in audit getting disappeared from KPMG in recent days, we certainly have. WSJ reports today that KPMG is laying off a few hundred people in audit “as it works to make up for lower levels of voluntary turnover.” ” Meaning attrition is still too low. What shortage?

audit 121

audit accounting firms accountant accounted 121

CPA Practice

SEPTEMBER 27, 2023

For accounting firms, automation gathers scattered information and turns it into valuable insights. It increases productivity and empowers firms to better advise their clients by putting the right data into the right hands at the right time. A new report from BILL shows how accounting firms are winning at automation.

Technology 122

Technology accounting firms Gaming accounts payable 122

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.

audit 143

audit Finance auditor Technology 143

TaxConnex

NOVEMBER 22, 2022

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. How can they go about making the move? Mark Friedlich, CPA, vice president of U.S. Mark Friedlich, CPA, vice president of U.S.

accounting firms 130

accounting firms Sales Tax tax return 130

CPA Practice

JANUARY 23, 2023

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

audit 124

audit auditor forensic accounting Technology 124

CPA Practice

NOVEMBER 11, 2024

We have concluded that we’ll rebuild our accounting tool recommendations to include more AI-based financial reporting like Digits , data extraction like MakersHub.ai , and KPI advisory products like 4ImpactData , Aider.ai , or SOBI Analytics. AuditBoard : Offers robust risk management and audit automation features.

accounting firms 111

accounting firms Technology Account accounted 111

CPA Practice

NOVEMBER 11, 2024

The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. auditing rules and for failing to cooperate with an investigation into those violations. 8 for repeated violations of U.S.

audit 111

audit auditor cpa firm public accounting 111

CPA Practice

AUGUST 28, 2024

Origins of the Award In the latter 1990s, the connectivity of the newly adopted internet quickly started to transform how the accounting profession operated within firms and served clients. The patent covers the application of artificial intelligence to financial statement audits.

Technology 124

Technology accounting firms Account accounted 124

CPA Practice

OCTOBER 10, 2023

Becca McGovern During the 2023 Association for Accounting Marketing (AAM) Emerge Virtual Conference on Oct. 4, Becca McGovern, marketing manager at top 200 firm Johnson Lambert, provided five ways AI can help accounting firms personalize their marketing efforts. Maybe part of that is the audit committee.

accounting firms 122

accounting firms Account accounted accountant 122

CPA Practice

SEPTEMBER 11, 2024

Sangeeta Chhabra Efficiency and speed matter more than ever in today’s business environment—and for the majority of accounting firms. These services scale IT infrastructure to help accountants speed up accounting services, manage the workforce, adhere to global compliances, and lower operational costs.

accounting firms 111

accounting firms Account accounted accountant 111

Going Concern

JANUARY 30, 2024

A few other recent data breach cases at accounting firms : PwC Audit Client Gets Added to the List of Companies That Have to Send Out Letters to Customers About a Data Breach EY and PwC Among the Many Entities Caught Up in the MOVEit Cybersecurity Breach Ransom An Accounting Firm Gets Phished: A Play In Two Acts The post Another Accounting Firm Has (..)

accounting firms 111

accounting firms Account accounted accountant 111

Going Concern

OCTOBER 5, 2023

Every accounting firm struggles with project management, with smaller practices that are rapidly expanding taking the brunt of the damage. As your firm adds new clients, takes on more work, and hires additional employees, old-school project management processes can quickly become obsolete. However, all is not lost!

accounting firms 119

accounting firms Account accounted accountant 119

Going Concern

FEBRUARY 15, 2023

The only other listed entity we found that it audits has a market capitalization of about INR 640 million (U.S. Shah Dhandharia hardly seems capable of complex audit work. We here at GC wondered out loud if Big 4 firms would even touch this mess, a report in Reuters yesterday answers in the negative that no, no they won’t.

audit 116

audit auditor accounting firms Government 116

CPA Practice

DECEMBER 19, 2023

In an era where AI, particularly generative AI, is reshaping industries, small accounting firms stand at a crossroads. As we approach 2024, the integration of AI into accounting practices is not just an opportunity for an advantage, but a necessity. Training your team on the importance of data integrity and security is vital.

accounting firms 124

accounting firms Account accounted accountant 124

CPA Practice

SEPTEMBER 6, 2023

The question in the title of this article is one the Treasury Inspector General for Tax Administration (TIGTA) recently tried to answer for some members of Congress who asked the IRS watchdog to evaluate employees moving between large accounting firms and the IRS, often referred to as the “revolving door.”

accounting firms 119

accounting firms Account accounted accountant 119

Going Concern

FEBRUARY 14, 2023

Thomson Reuters has written up the 2022 ConvergenceCoaching, LLC® Anytime, Anywhere Work (ATAWW) Survey — you can request survey results here — and we learn that almost all responding firms say they are being flexible about where and when their people put in their time. We’re gonna need their names and HR contacts, thanks.

accounting firms 115

accounting firms Account accounted accountant 115

Going Concern

APRIL 22, 2024

Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report. So they might catch a fine from the audit regulators. The devil’s in the details, people. I dunno, you guys.

audit 119

audit auditor financial statements Education 119

CPA Practice

MARCH 15, 2023

They often focus their efforts to maximize the eventual sales value of the acquired business via a combination of targeted acquisitions of other firms, capital investments, expansion into profitable niches, waste reduction, tech adaptation, streamlining and other measures. What size accounting firms are private equity groups eyeing?

accounting firms 132

accounting firms Account accounted accountant 132

CPA Practice

OCTOBER 11, 2023

Public accounting firms in the United States reported strong top-line and bottom-line growth in their latest fiscal year results, driven by high demand for their services, according to a survey by the American Institute of CPAs and the Chartered Institute of Management Accountants.

accounting firms 119

accounting firms Account accounted accountant 119

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.

auditor 115

auditor audit accounting firms public accounting 115

CPA Practice

JUNE 24, 2024

I asked ChatGPT what forms it recommended for a CPA firm. Here is the answer I got (since ChatGPT is nondeterministic, you won’t get the exact same answer I got.): For a CPA (Certified Public Accountant) firm, creating and utilizing various forms and templates can significantly streamline practice management tasks.

accounting firms 124

accounting firms cpa firm Account accounted 124

Going Concern

SEPTEMBER 7, 2023

Business growth is always a high priority for accounting firms, especially small-to-midsize practices. Simply copy and paste the content below, print it out on some nice letterhead, invent a way to send letters to abstract concepts, apply appropriate postage, and—BOOM—your accounting firm will be growing sustainably in no time!

accounting firms 122

accounting firms Technology Account accounted 122

Accounting Today

SEPTEMBER 11, 2023

The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.

audit 132

audit Account accounted accountant 132

Going Concern

MAY 30, 2024

Says the ICAEW report: While some accountancy firms favour lower-risk organic growth, the mid-tier has been active in using M&A for growth to meet client demand. The majority of respondents (64%) confirmed that their firm had acquired another in the past and 17% had been part of a merger. So this is interesting.

accounting firms 118

accounting firms Account accounted accountant 118

Going Concern

OCTOBER 8, 2024

Another small accounting firm has reported a data breach involving the protected health information of a whole lotta people. DA&E provided auditing services to some Aurora area hospitals. The post DAE Get Sick of Hearing About Accounting Firms Getting Their Data Breached? appeared first on Going Concern.

accounting firms 111

accounting firms Hospitality Account accounted 111

CPA Practice

MAY 15, 2024

The technologies used in professional accounting firms continue to evolve and shape how practices function, from client service, to staffing issues, and overall management and growth. And following dire budget conditions during and following the pandemic, states have greatly increased their sales tax audit activity.

Technology 119

Technology accounting firms cpas Account 119

CPA Practice

MAY 10, 2023

The head of the Public Company Accounting Oversight Board (PCAOB) said today that its inspectors found significant deficiencies in the audits of U.S.-listed listed Chinese companies conducted by KPMG’s affiliate in mainland China and PwC’s member firm in Hong Kong. Today’s reports are a powerful first step toward accountability.

audit 111

audit auditor financial statements public accounting 111

CPA Practice

OCTOBER 29, 2024

Businesses want to use big data to their advantage and will pay accounting firms for data-driven forecasts and projections. AI is assisting accounting professionals, allowing them to offer greater insights into the financial health of their clients’ businesses with forecasts and projections.

accounting firms 111

accounting firms Account accounted accountant 111

Going Concern

AUGUST 9, 2024

With that in mind, Accounting Today recently conducted its inaugural salary survey to create a snapshot of compensation levels across the country. The university said it would post a corrected version of the audit “as soon as possible.” Bet it’s super disruptive and unique and truly speaks to the spirit of this firm.

accounting firms 104

accounting firms Account accounted accountant 104

CPA Practice

JUNE 6, 2024

Let’s dive into the essential steps to help ensure your firm’s marketing efforts are on track for success. Content Audit and Optimization Review Blog Posts and Articles (free content): Ensure content is relevant, up-to-date, and optimized for SEO. Download the Mid-Year Marketing Checklist today.

accounting firms 117

accounting firms Account accounted accountant 117

GrowthForceBlog

MARCH 12, 2024

9 min read Nonprofit organizations do not pay taxes, so they are not subject to audits performed by the Internal Revenue Service. Audits, however, are still sometimes required for nonprofit organizations by federal, state, or local entities.

audit 92

audit accounting and finance Finance accounting firms 92

CPA Practice

JANUARY 9, 2024

In recent years, the integration of Artificial Intelligence (AI) and Machine Learning into accounting firms has been on the rise, bringing both opportunities and challenges. By Shane Westra. Enforce stringent controls on who can access data, and ensure that data is encrypted when being transferred.

accounting firms 122

accounting firms Account accounted accountant 122

Going Concern

FEBRUARY 3, 2023

We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. From the report: The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. The only other listed entity we found that it audits has a market capitalization of about INR 640 million (U.S.

audit 124

audit auditor accounting firms Government 124

CPA Practice

JULY 9, 2023

the developer of the award-winning cloud-based audit automation platform, has announced aquired Advantage Audit from John Wiley & Sons, Inc. Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner.

audit 111

audit auditor Technology financial statements 111