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When Is the Right Time to Leave Public Accounting?

Going Concern

When I started in public accounting, one of the audit partner s I worked with shared the elevator metaphor: working in public accounting is like riding an elevator—the longer you stay on, the higher up you will go. Side note : this is how about half the partners in public accounting became partners.).

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How to Use ChatGPT to Create Forms and Templates for Accounting Firms

CPA Practice

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.

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The Best Tech for Accounting Firms: The 2024 Tax and Accounting Innovation Awards Announced!

CPA Practice

Since the pandemic, firms have broadly accepted remote and hybrid workforces, and the technologies supporting these functions have seen significant advancement, increasing productivity, while giving staff enhanced work-life balance. The patent covers the application of artificial intelligence to financial statement audits.

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Friday Footnotes: The ERC Problem; EY Double Dips; Stress Less in Public Accounting | 5.26.23

Going Concern

The accounting firm is embroiled in a national scandal over its use of confidential information about proposed tax laws to drum up business. The bitcoin mining company “dismissed” its previous accounting firm Marcum on May 18, appointing Deloitte to take its place. Ron Wyden, the chairman of the Senate Finance Committee.

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Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

Owners of Public Accounting firms are always telling their clients to work on their business and not in their business, yet many times do not take their own advice. It is possible to run an Accounting Firm and never do tax returns or financial statements!

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Friday Footnotes: PwC Completes Its Punishment; Hybrid Work Should Stay in 2025; Deloitte Clutters Up the Dark Web | 1.3.25

Going Concern

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. Larger firms are more likely to do it, but many times they are combining why they exist as a firm with what they do and / or how they do it.

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The AICPA Gets Around to Looking Into If This Whole Private Equity Thing Requires New Independence Rules

Going Concern

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.

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