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How large tax and accounting firms can use AI

ThomsonReuters

Jump to Key areas where AI enhances tax services in large firms Barriers to AI adoption in large firms and overcoming them Embrace AI in your large firm for a competitive edge The tax and accounting industry is on the brink of a significant transformation, driven by the integration of artificial intelligence (AI) and generative AI (GenAI).

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What Private Equity Means for Accounting Firms: Thought Leaders Explore Pros and Cons

CPA Practice

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?

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Governance and leadership dynamics in accounting firms need scrutiny

Accounting Today

The shift of public accounting firms, traditionally focused on providing auditing and tax services, into expansive multidisciplinary firms has long raised concerns among investors and regulators.

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PCAOB Has Handed Out a Slew of Punishments to Audit Firms Recently

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) has not been in a jovial mood lately. Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug.

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Public Accounting Starting Salaries Expected to Increase Nearly 4% in 2024

CPA Practice

Starting salaries for roles in tax services are projected to increase an average of 3.6% in 2024, while audit and assurance services will see starting salaries likely go up an average of 3.8% Firms that are upfront about a role’s salary range can improve their hiring prospects. Overall average increase: 3.6%

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Who Wants to See How Much Big 4 Revenue by Service Line Has Changed Since SOX?

Going Concern

CPA Journal has published an intriguing deep dive into Big 4 revenue , specifically how the firms started making more money in advisory than audit or tax in the last 10+ years. Writes The CPJ: Over this period, audit revenue declined while advisory service revenue increased. TLDR Assurance is out, Advisory is in.

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Deloitte Will Be the Next Big 4 Firm to Split Audit and Consulting Says WSJ, Deloitte Denies

Going Concern

The rumor mill got fired up a mere 14 days ago when the Wall Street Journal reported EY was considering splitting its audit and advisory arms (pesky regulators and conflicts of interest and whatnot). A KPMG spokesman said in a statement the firm remains “committed to our multidisciplinary model” and hasn’t talked to banks about a split-up.

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