Mon.Feb 10, 2025

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Quality management standards: Time is running out!

Accounting Today

For auditors and quality management, there's a big difference between a 'document' and a 'system.

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What TF Is Going on With CPA Exam Pass Rates?

Going Concern

Um, what is this? The CPA Exam remains broken. Q4 2024 Pass Rates: Core: FAR – 36.80% AUD – 43.50% REG – 60.40% Discipline (Candidates Choose 1): BAR – 33.70% TCP – 72.20% ISC – 56.40% A few thoughts: The consensus on the new exam was FAR would see higher pass rates as difficult material — Dr. Josh McGowan, CPA (@Jmcgowan3838) February 8, 2025 Full text of Dr.

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What’s new in Xero – February 2025

Xero

We’re kicking off the new year with some exciting Xero updates designed to address some of the enhancements youve been asking for, and make things more automated to save you time. Keep reading to learn how these enhancements will benefit you and your business. Global: Enhancements to new invoicing [Product Idea ] You’ll love the time-saving enhancements we have made to new invoicing this month.

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Organize Microsoft Teams Chats and Channels With Sections

Withum

Information overload is a challenge for everyone. Im always excited to check out features that will make my life easier and keep things organized. Microsoft Teams channels have long been a critical way to stay productive, and now Microsoft Teams has made one of the biggest changes to the Teams chat UI in recent memory: a combined layout for both channels and chats.

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The Silent Crisis: Why Finance Lags in Digital Transformation and How to Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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AICPA prepares for possibility of PCAOB being folded into SEC

Accounting Today

AICPA & CIMA president and CEO Mark Koziel told a group of accountants that the association is preparing for the possibility of the PCAOB being "rolled up.

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New 2025 Filing Requirements for PA Nonprofits

Withum

Starting January 2025, due to Pennsylvania Act 122, most domestic and foreign filing associations registered to do business in Pennsylvania are required to file an Annual Report. This report will replace the prior filing, which is required once every 10 years, to confirm the existence of entities that have not made some other type of filing with the Pennsylvania Corporation Bureau during the preceding 10 years.

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Copilot Updates: Microsoft 365 Copilot Chat Is Now Available

Withum

Microsoft Copilot has an update: Microsoft 365 Copilot Chat is now available! Copilot Chat is free access to Enterprise grade Copilot, giving organizations a taste of Copilot. This version has some limitations but is a great starting point for organizations not ready to get the value from the $30/month Copilot license. Key Features of Microsoft 365 Copilot Chat Web-Grounded Chat with GPT-4o: Microsoft 365 Copilot Chat is powered by GPT-4o , providing a robust and secure AI chat experience.

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$1,928 is the Average Refund Amount So Far This Tax Season

CPA Practice

Since the start of the 2025 tax filing season on Jan. 27, the IRS has issued 3.23 million refunds with an average refund amount of $1,928 as of Jan. 31, the agency said last week.

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2025 ProAdvisor Awards Application Deadline is February 15th

Insightful Accountant

All 2025 ProAdvisor Award Applications must be completed no later than this Saturday, February 15, 2025 at 11:59:59 PM Pacific-time.

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FICPA Honors Leadership Academy Graduates

CPA Practice

The FICPA Leadership Academy is a selective, high-impact program for CPAs age 35 and under who are looking to grow as leaders within their firms and the profession.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

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Melancon joins Baker Tilly U.S. and International

Accounting Today

Former AICPA president and CEO Barry Melancon is joining Baker Tilly U.S. as an advisor Baker Tilly International as a non-executive director and chair-elect.

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Four New Members Added to American Accounting Association Hall of Fame

CPA Practice

This years inductees include David R. Bean, Barry C. Melancon, Terry Shevlin, and Mary T. Washington Wylie (1906-2005). The 2025 inductees represent a diverse group of accounting thought leaders, from practice and academia.

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The End of Another 1099 Season is Here at AccountingDepartment.com!

AccountingDepartment

It is that time of the year again, tax season. Many businesses dread this time of the year - it's tough. But thankfully, it's not as tough when you have the unrivaled support of AccountingDepartment.com.

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GBQ Acquires Talentcrowd in Ohio

CPA Practice

The Columbus, OH-based top 100 firm has acquired Talentcrowd, a referral-based hiring platform also based in Columbus that brings tech talent to top companies and teams, effective Jan. 31.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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The state of CAS

Accounting Today

Kim Blascoe of CPA.com dives into CAS's extraordinary growth rates, the key practices of a high-performing CAS practice, and more.

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Former AICPA CEO Barry Melancon Joins Baker Tilly

CPA Practice

The Louisiana native, who retired at the end of last year after a nearly 30-year run as AICPA chief executive, will join Baker Tilly as an advisor and will become a non-executive director and chair-elect of the Baker Tilly International board of directors.

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The AI Revolution in Tax Firms: Adapting to the Future

Insightful Accountant

The rise of AI agents is poised to fundamentally reshape how tax firms operate and compete. As autonomous AI systems become more sophisticated, firms must prepare for significant changes.

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DOGE Team Now Seeks Access to Treasury’s Accounting Data

CPA Practice

Elon Musk's DOGE team will be in Parkersburg, WV,from Tuesday through Thursday, whereTreasurykeeps its Central Accounting Reporting System, or CARS, which handles accounting and reporting access for all federal agencies.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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$1M in HSA is a rosy projection. But smaller savings still pay off

Accounting Today

The estimate for the amount required for 65-year-old spouses is one of many from a study full of figures that financial advisors can use to highlight the value of HSAs.

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Stampli Set to Launch Procure-to-Pay Solution

CPA Practice

The new software offering from Stampli unifies all procurement processes, documents, and discussions into a single workflow.

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Art of Accounting: My Accounting High interview

Accounting Today

Accountants should stop focusing on the past data they generated, and the current situations their clients are in, and migrate to a future-oriented spotlight.

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Workers in Different Industries Have Differing Priorities

CPA Practice

Respondents shared their thoughts on the latest trends in employee attitudes, desires and concerns across various sectors, including technology, banking, healthcare, manufacturing, retail and transportation and distribution.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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The Future of Accounting: Roger Knecht on Bookkeeping, Tax Planning & CFO Services

Insightful Accountant

In this episode of the Accounting Insiders Podcast, host Gary DeHart sits down with Roger Knecht, president of Universal Accounting Center, to discuss key trends shaping the accounting industry.

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Thomson Reuters Announces New $150M Corporate Venture Capital Fund

CPA Practice

Building on the success of its first $100 million fund, launched in 2021, Fund 2 reaffirms the company's commitment to driving innovation and delivering customer value.

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Thomson Reuters launches $150M fund for accounting and tax tech

Accounting Today

Thomson Reuters announced plans to invest millions in tax and accounting solutions through its newly-launched $150 million venture fund.

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interVal Adds Customization to Business Reports Feature

CPA Practice

interVal has upgraded its Business Reports feature to allow accountants and advisors to customize and create shorter, streamlined, and more specific reports for their SMB clients.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Why Thomson Reuters is the best choice for corporate tax professionals

ThomsonReuters

In todays rapidly evolving business landscape, companies of all sizes are upgrading their technological infrastructure to improve productivity and remain competitive. These digital transformations typically involve transitioning to a cloud-based business system, and they are important to corporate tax leaders because the tax function touches virtually every aspect of a modern organization.

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Global Pension Assets Hit Record $58.5 Trillion

CPA Practice

Global pensions assets rose by 4.9% year on year in 2024, reaching a record $58.5 trillion, led by growth in the largest defined contribution (DC) markets, according to the latest Global Pension Assets Study from WTWs Thinking Ahead Institute.

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Identifying CASS Breaches and Reporting

Menzies

Menzies LLP - A leading chartered accountancy firm. All firms must understand the circumstances within their business models where breaches of CASS can occur and ensure that they have adequate systems and controls in place to identify non-compliance. Firms retain full responsibility for the compliance of the outsourced operational functions this includes any breaches that may occur by a third party.

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Monday Morning Accounting News Brief: It’s TikTok *Tax* Advice, Not Grammar Advice; NABA Gets a New Ally | 2.10.25

Going Concern

Good morning, counterati. It’s Monday again, here is some news for you to start your week. ‘Tis the season to get tax advice from TikTok. p.s. It’s they’re , buddy. Accountants are too stupid to know about this because after all the schooling they just STOP learning! pic.twitter.com/BuMGHJuKx9 — Jessica Smith, EA , not a CPA (@Taxsavvyjessica) February 9, 2025 Something to chew on as both sides argue about fraud and waste: My dad was an auditor with The Indiana Depa

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.