Going Concern

MARCH 31, 2023

auditors who believe their part of the firm could end up weakened by a deal. We have already begun embedding some bits of generative AI into these projects, which is truly remarkable,” said MaheshMakhija, leader, digital and emerging technologies, EYIndia. John King and Frank Mahoney, senior U.S.

auditor 105

auditor audit Virginia Technology 105

CPA Practice

JULY 17, 2024

With fewer young people entering the profession and an increasing number of baby boomers, who account for three-quarters of CPAs, heading for retirement, a Bloomberg analysis of data from the Bureau of Labor Statistics found that there are 340,000 fewer accountants than there were five years ago. Investors are latching onto the idea.

accountant 124

accountant accounted Account Technology 124

CPA Practice

DECEMBER 1, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss TeamMate Document Linker for External Audit, a solution from Wolters Kluwer designed for CPAs, saving junior auditors time, strengthening audit quality, and improving auditor satisfaction. Welcome to Technology Lab. SPEAKERS Randy Johnston, Brian F.

Technology 98

Technology auditor audit CPA 98

ThomsonReuters

JUNE 16, 2023

Will it replace CPAs? We’ll take a closer look at some of these shifts later, but let’s first explore some ways AI is currently used in accounting. This is one of the key reasons why AI plays an important role in audit. In audit, AI enables auditors to analyze large data sets and swiftly identify anomalies and patterns.

accountant 110

accountant accounted Account Technology 110

Going Concern

FEBRUARY 27, 2023

“IRS tech is so ‘archaic’ the agency struggles to find people to work it” from The Washington Post : The Internal Revenue Service, which funds nearly everything the federal government does, uses information technology that is creaking with old age. Yet that is what the IRS deals with every day.” Go forth and account.

Technology 105

Technology accountant accounted Account 105

Going Concern

JANUARY 12, 2024

Long Reads How Auditor Deloitte Missed A Nigerian Company’s Massive Fraud [ Forbes ] Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. These issues were apparently not glaring enough for the company’s auditor, however.” Tingo paid $1.6 in 2021/22.

audit 111

audit auditor Illinois CPA 111

CPA Practice

SEPTEMBER 23, 2024

CPAs are essential for financial reporting, advanced tax preparation and other dull-but-important tasks that keep the economy going. These days, the accounting profession is in crisis as CPAs retire and the pipeline to replace them dries up. The health of the capital markets depends on breathing new life into the profession.

cpas 59

cpas CPA auditor accounting principles 59

CPA Practice

OCTOBER 12, 2023

Transcript (Note: There may be typos due to automated transcription errors. I’m Randy Johnston with brand grizzly as co host for the technology lab, we are pleased to have you back with us again. And we have a separate Technology Lab on data Snipper. But even cch access tax is going to get some a bot automation.

Technology 111

Technology quickbooks accounting and finance Legal 111

ThomsonReuters

JULY 11, 2023

They are also experiencing an internal struggle to cope with the decreasing talent pool and growing need to use technology to stay efficient. Bureau of Labor Statistics projects the employment of accountants and auditors to grow 6% from 2021 to 2023, with the average number of annual openings around 136,400.

Technology 73

Technology accountant accounted Account 73

Going Concern

OCTOBER 11, 2024

As it’s become increasingly popular for external CPAs and even CFOs to help run a company’s financial operations, the American Institute of CPAs is looking to clarify the standard for how financial statements prepared as part of an external client advisory services engagement are treated. Talent Is your firm hiring? It’s free!

audit 59

audit Technology Texas accounting firms 59

ThomsonReuters

JUNE 28, 2023

Accountants and auditors have an expanding role to play in determining the integrity of a company’s disclosure of ESG topics. This is where an investment in automation comes in. Governance risks include financial reporting , fraud prevention, executive pay transparency, and overall business dealings of the company.

Tax 98

Tax auditor audit Technology 98

CPA Practice

MAY 24, 2024

. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor, with your hosts, Randy Johnston, and Brian Tankersley. 01:32 Yeah, sure.

CPA 78

CPA Technology accountant accounted 78

Ryan Lazanis

APRIL 18, 2023

AI in accounting refers to the use of artificial intelligence (AI) technologies, such as machine learning algorithms and natural language processing, to automate and enhance various accounting processes. How to Get Started With Accounting Intelligence How AI Was Used to Write This Article What is AI in Accounting?

accountant 96

accountant accounted Account Technology 96

Going Concern

NOVEMBER 1, 2024

Audit Private Equity’s Ties to Companies’ Auditors Have Never Been Closer. CBIZ Completes Acquisition of Marcum [ PR Newswire ] Concurrent with the closing of this transaction, the attest business of Marcum was acquired by CBIZ CPAs, a national independent CPA firm with which CBIZ has had an Administrative Service Agreement for over 25 years.

audit 52

audit Florida auditor accounting firms 52

CPA Practice

DECEMBER 2, 2023

Advantage Audit AI leverages a patented artificial intelligence engine to optimize and automate the auditing process. The new modules enhance this capability, offering: Real-time analytics and insights Automated trial balance classification and AI-assisted roll-forwards Seamless integration with existing accounting systems. “The

audit 69

audit Technology auditor cpas 69

Going Concern

SEPTEMBER 29, 2023

Maginnis recalls early in his career when Newt Becker, founder of the Becker CPA exam prep courses, told him that every year spent in public accounting is the equivalent of two years in private industry. They wanted to know about their international expansion strategy and technology use.

accounting careers 128

accounting careers accountant accounted Account 128

Going Concern

SEPTEMBER 22, 2023

The job security and the ability to have a comfortable life motivated me at first,” said Khokhar, who served as a senior accountant at two construction firms and senior auditor at an accounting firm. Accountants have long been viewed by people in the profession as underpaid and undervalued compared with positions in tech and banking.

accountant 116

accountant accounted Account CPA 116

CPA Practice

JUNE 7, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, review Black Ore Tax Autopilot, an AI tax prep system for CPAs, which features complete 1040 tax preparation automation. Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) So you’ve turned to outsourcing.

Technology 64

Technology Tax accountant accounted 64

Going Concern

SEPTEMBER 22, 2023

People Ken Miller set to retire after more than three decades of service [ Virginia Tech ] After more than 35 years of dedicated service to Virginia Tech, Ken Miller has announced his retirement. Both Mendlowitz and his father, also a CPA, attended the CUNY school.

audit 109

audit accounting and finance Virginia auditor 109

Going Concern

MARCH 8, 2024

Audit SEC Settlement Against Auditing Firm Serves as Reminder of Important Independence Rules [ JD Supra ] On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co. Here is the essence of the dialogue.

audit 100

audit auditor New York Legal 100

CPA Practice

SEPTEMBER 19, 2023

The urgent message for CPA firm leaders is this: It’s already tough hiring and retaining CPAs , and the risk of losing staff at all levels of experience is high. Provide relevant training opportunities to keep everyone’s skills current and be proactive about managing change as you adopt new technologies.

cpa firm 110

cpa firm CPA accounting and finance Virginia 110

Going Concern

SEPTEMBER 15, 2023

Audit Comments Raise Concerns About PCAOB’s Proposal To Expand the Scope of Audits and the Role of Auditors [ JD Supra ] In June 2023, the Public Company Accounting Oversight Board (PCAOB) proposed sweeping amendments to its auditing standards. Nelson & Nelson CPAs is the oldest existing accounting firm established in South Dakota.

Colorado 111

Colorado audit CPA Texas 111

Going Concern

JANUARY 25, 2023

GASB 96, Subscription-Based Information Technology Arrangements (SBITAs) Summary: Requires government entities to recognize a right-to-use subscription asset and corresponding subscription liability for such contracts with a specified term. Consider choosing technology that has a short implementation timeline.

accountant 105

accountant accounted Account Real Estate 105

Going Concern

JULY 26, 2024

Accounting for the Future: Empowering Tomorrow’s CPAs Today [ Seton Hall University ] Seton Hall University recently hosted the “Accounting for the Future” Pre-College program, an inspiring two-day workshop designed to introduce high school students to the dynamic world of accounting. But is the excitement warranted?

Oklahoma 105

Oklahoma audit South Dakota accounting firms 105

CPA Practice

JANUARY 10, 2024

LeaseCrunch LLC , a lease accounting and lease management software provider, has announced a major growth investment from Aquiline Capital Partners LP, a private investment specialist with $10 billion in assets under management that invests across financial services and related technologies.

cpa firm 52

cpa firm CPA accounting standards Technology 52

CPA Practice

FEBRUARY 28, 2023

The American Institute of CPAs (AICPA) and CPA.com announced its 2023 Startup Accelerator cohort at a kick-off meeting held at AICPA headquarters in New York. The Startup Accelerator supports the growth of early-stage technology companies benefiting the accounting and finance ecosystem. “The

E-commerce 52

E-commerce Technology Texas accounting and finance 52

Going Concern

JULY 10, 2023

The firm’s junior auditors have been told that the pay band for one cohort would be frozen while others would increase by just 3pc or 6pc. Last month, the Big Four firm warned its 25,000 UK staff to expect smaller pay rises and bonuses this year amid a slowdown. PwC said this was owing to “challenging” market conditions.

accountant 97

accountant accounted Account CPA 97

ThomsonReuters

JANUARY 12, 2023

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. Increasingly, businesses are engaging third-party assurance auditors to report on those ESG disclosures. . One of these specialties is ESG audits. . What is ESG?

audit 52

audit auditor Technology Government 52

ThomsonReuters

JANUARY 18, 2024

Ever-changing regulations and laws, shifts in client expectations, and advancements in innovative technologies like artificial intelligence (AI) are changing the way firms do business and how accountants serve their clients. Working with external auditors. Accountant vs. CPA vs. tax preparer: What are the differences?

accountant 59

accountant accounted Account tax preparation 59

CPA Practice

JUNE 1, 2023

This transformation is fueled by a desire to deliver exceptional customer experiences, and 82% of accountants say technology is fostering more meaningful client interactions. Automated Workflows: Streamline repetitive tasks with workflow management and automation to save time and enable firms to stay on top of a growing client list.

accountant 52

accountant accounted Account Technology 52

Going Concern

MAY 15, 2023

Virginia Society of CPAs is tackling the question “ is 150 too many? ” For nearly the past two decades, prospective CPAs in Virginia have had to undertake 150 hours of education before becoming licensed. But a declining CPA pipeline has accountants asking: Is the 150 now a barrier to becoming a CPA?

accountant 52

accountant accounted Account cpas 52

Going Concern

MARCH 17, 2023

“A proposal like this could allow for the reinstatement of credit for more than 15,000 CPA candidates and re-open the door for those candidates to complete their journeys to becoming licensed CPAs. Your technology strategy will become your talent strategy 2. It seems there is a shortage brewing in The Philippines.

Government 97

Government Gambling audit CPA 97

Ryan Lazanis

AUGUST 2, 2023

NumboRama AccuVibe Fiscal Fusion CountWise Money Marvels QuickCents CashFlow Champs Audit Gurus Digit Dynamos ProfitPulse DoughGetters Penny Wizards Dollar Dashers CheckMates Ledger Legends WealthWhiz TaxTango Finance Frenzy Numbers Ninjas Coin Connect Money Magic Precision Profits WealthWave Digit Delight Cash Crafters Balance Boosters Finance Finesse (..)

accounting firms 52

accounting firms accountant accounted Account 52

Snyder

MARCH 6, 2023

Accounting automation Since accounting automation software emerged and hit the market, like QuickBooks or Xero and other popular solutions, there’ve been talks about how they’ll rip accounting professionals off jobs. Apparently, the software could automate a substantial part of the bookkeeper’s and accountant’s work.

forensic accounting 52

forensic accounting accountant accounted Account 52

Going Concern

APRIL 20, 2022

Increased demand for technology skills, particularly in the audit function, was credited as the reason behind this shift. CPA firms expect to have the same number or more CPAs on staff in 2022 in comparison with 2021. Two years later, the number of non-accounting new hires is up by more than 10%. In the 2021 report, 42.7%

accountant 52

accountant accounted Account CPA 52

Going Concern

APRIL 19, 2024

CPAs Have a Branding Problem for the Younger Generation [ CPA Journal ] By Jason L. Ackerman, CPA, CFP, CGMA Probably the hottest topic in the profession over the past few years has been the pipeline problem: Firms can’t find qualified individuals to handle the increasingly complex world that CPAs deal with on an ongoing basis.

cpas 105

cpas accounting firms accountant accounted 105

CPA Practice

APRIL 25, 2024

Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor, with your hosts, Randy Johnston, and Brian Tankersley. So Brian, what do you think about there?

Technology 111

Technology audit accountant accounted 111