ThomsonReuters

DECEMBER 10, 2024

For tax and accounting firms, agentic AI has the potential to dramatically transform workflows, client services, and the nature of professional work itself. Press release Thomson Reuters acquires Materia a specialist in agentic AI for the tax, audit and accounting profession. Read full press release 3.

audit 97

audit Tax Technology tax return 97

CPA Practice

NOVEMBER 4, 2024

audit workforce—that they would be losing their jobs in the coming weeks, the Wall Street Journal reported on Monday. The job cuts will impact employees such as audit associates and managers but not partners, according to the WSJ. The reason for the layoffs: low levels of voluntary turnover at the Big Four accounting firm.

audit 64

audit accounting firms Tax Account 64

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.

audit 125

audit auditor Education accounting firms 125

CPA Practice

OCTOBER 24, 2024

Given the significant changes in the auditing environment since that time, the PCAOB made it a priority to modernize and update those rules. 1, A Firm’s System of Quality Management , adopted by the AICPA. In 2023, only 14 audit firms out of a total of more than 1,600 registered with the PCAOB met the 100-issuer-or-more threshold.

auditor 126

auditor audit financial statements accounting firms 126

Going Concern

OCTOBER 18, 2024

Firm Watch Accountancy firm BDO fined €1.3 million for work with Russian-held football club Vitesse [ NL Times ] The fine is regarding the work that BDO did as an accountant for football club Vitesse, and a holding company of the former owner of the club, Russian businessman Valeri Oyf, sources told FD.

audit 104

audit auditor New York accounting and finance 104

CPA Practice

APRIL 7, 2023

Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. By Cameron White. Technology also gives staff real-time access to their data, from anywhere at any time.

accounting firms 139

accounting firms CPA Technology Account 139

CPA Practice

APRIL 3, 2023

Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. By Cameron White. Technology also gives staff real-time access to their data, from anywhere at any time.

accounting firms 135

accounting firms CPA Technology Account 135

Going Concern

JANUARY 23, 2025

More than one-fifth of respondents (21%) described the culture of their firm as family-like, and a further 17% as traditional, which may not be seen as a natural fit for PE investment. In “Choosing your accounting firm: why ownership matters” he writes: The accounting industry is currently at a crucial crossroads.

accounting firms 64

accounting firms institute of chartered accountants Account accounted 64

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.

auditor 126

auditor audit Florida accounting firms 126

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 accountant accounted 131

Acterys

DECEMBER 20, 2023

Accounting firms provide financial management services to businesses, including advisory services, bookkeeping, tax preparation, and auditing. For many accounting firms, there remains the opportunity to improve speed, efficiency, and quality. But too many businesses still rely on manual solutions.

accounting firms 130

accounting firms Finance Account accounted 130

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

CPA Practice

APRIL 16, 2024

My generation is more focused on maintaining that work-life balance,” said Kowal, who works at accounting firm EisnerAmper in Philadelphia. “A Last summer she became a tax accountant at wealth management firm Stonehage Fleming. But that doesn’t mean she’s willing to work into the wee hours during busy season. “My

accounting firms 134

accounting firms Account accounted accountant 134

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.

Non-Profits 111

Non-Profits tax consultant auditor cpa firm 111

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

ThomsonReuters

MARCH 3, 2025

While advanced tax technology and automation are nothing new for most accounting firms, the introduction of agentic AI is redefining what classifies as a mundane task. With agentic AI, accountants can automate complex pieces of the tax return process. Its already transforming firms that use it strategically.

Tax 93

Tax Account accounted accountant 93

Going Concern

NOVEMBER 8, 2024

The report also recommends that these private firms be limited to 400 partners, and that they be prevented from offering both audit and non-audit work – like consulting services – to the same client. The musician filed a complaint because the accounting firm’s employee failed to timely file tax returns from 2014-2018.

Florida 98

Florida Mississippi audit auditor 98

CPA Practice

DECEMBER 11, 2023

Forensic Analytics Arrive: Next year’s audit teams will see the adoption of forensic analytical tools that will be easier to implement and utilize due to the integration of curated generative AI tools, most likely due to acquisitions by the major software vendors (and possibly CPA.com’s Dynamic Audit Solution!)

accounting firms 116

accounting firms Technology Account accounted 116

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

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 28, 2024

Greensburg, IN-based accounting firm RBSK Partners has acquired fellow Indiana firm Hash CPA Group, based in Franklin. The combined firm will operate under the RBSK Partners name. The firm has offices in Batesville, Brookville, Columbus, Greensburg, and Seymour in Indiana.

Indiana 98

Indiana CPA audit tax planning 98

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

Going Concern

FEBRUARY 6, 2025

They said : A task force of the American Institute of CPAs Professional Ethics Executive Committee (PEEC) will seek public comment on its preliminary conclusions about revisions to independence rules related to alternative practice structures, changes driven by the increasing prevalence of private equity investment in accounting firms.

audit 90

audit auditor cpa firm CPA 90

CPA Practice

FEBRUARY 12, 2025

The Public Company Accounting Oversight Board on Feb. 11 filed a notice with the SEC to withdraw its new standard on audit firm reporting of standardized firm and engagement metrics for approvala victory for those that opposed the rules, including many of the largest accounting firms in the U.S.

audit 114

audit accounting firms accountant accounted 114

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

ThomsonReuters

NOVEMBER 26, 2024

To achieve this, many forward-looking accountants and tax preparers are shifting toward a fully digital tax workflow. Let’s take a look at what a digital tax workflow is all about and how it can unlock efficiencies for your accounting firm. Jump to ↓ What is a digital tax workflow? What is tax workflow automation?

Technology 52

Technology accounting firms Tax tax preparation 52

CPA Practice

NOVEMBER 5, 2024

Top 200 accounting firm LGA has merged with Abbott & Co., a Lexington, MA-based accounting firm led by Mellinda Abbott. Mellinda prides herself in fostering personal relationships with her clients,” the firm’s website states. Abbott & Co. Personal relationships of any kind were unacceptable.

audit 98

audit accounting firms public accounting tax planning 98

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

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

Going Concern

SEPTEMBER 19, 2024

When I say “everyone” I mean crypto bros and accounting firms trying desperately to be cool with their PS2-era metaverse avatars, the rest of us forgot about it pretty much right off the bat. Or an accounting firm office. It’s technically a game, but it seems about as fun as hanging out in a doctor’s office.

accounting firms 111

accounting firms audit auditor Account 111

Going Concern

APRIL 3, 2023

Up north, the Canadian equivalent of the PCAOB has said that audit quality in America’s hat is on the decline and that the level of significant findings at non-annually inspected firms is “concerning.” ” This is per the Canadian Public Accountability Board’s 2022 Annual Report [ PDF ].

audit 122

audit public accounting Real Estate accounting firms 122

Going Concern

JANUARY 3, 2025

PR Newswire ] Aprio, the 25th largest business advisory and accounting firm in the U.S., announces the strategic acquisitions of two leading accounting firms, KRD, Ltd. The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices.

auditor 98

auditor audit Rhode Island cpa firm 98

CPA Practice

NOVEMBER 12, 2024

He also co-founded Acuity Invests, which invests in accounting tech, SaaS, fintech, and crypto companies. Prior to Acuity, Kenji was CFO of an Inc 5000 tech company and worked in the audit practice at Arthur Andersen. He has served as an advisor for accounting tech companies such as Intuit, Xero, Gusto, FreshBooks, and Expensify.

Technology 126

Technology Sales Indiana Tax 126

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

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

OCTOBER 10, 2024

Apparently some Dem senators are outraged at the PCAOB for this, insinuating that the PCAOB could be doing a better job bullying firms into not being so ass at auditing. They asked whether “repeat offenders” are deterred by potential fines that they said are typically “a drop in the bucket” compared with firm revenues.

audit 111

audit auditor financial statements accounting firms 111