Mon.Nov 04, 2024

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Tired of 20+ Page Organizers? Here’s How to Make Tax Season a Breeze

Insightful Accountant

Tax season can be a challenging time for both accountants and clients, particularly when it comes to collecting accurate and complete tax information. A primary source of frustration for accountants is the use of traditional tax organizers.

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Layoff Watch ’24: KPMG Shrinks Audit By a Few Hundred People

Going Concern

You’ve likely heard of people in audit getting disappeared from KPMG in recent days, we certainly have. Anyone who tried to cope with a “they must have been low performers” might want to season their hat before they eat it. WSJ reports today that KPMG is laying off a few hundred people in audit “as it works to make up for lower levels of voluntary turnover.” Meaning attrition is still too low.

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Steve Menna Joins Withum

Withum

Withum is excited to welcome Steven Menna as a Partner in our Financial Services Team. Menna, who brings extensive experience and innovative leadership, will spearhead the firm’s national alternative investments expansion, focusing on the Southeast and Southwest regions. “I’m thrilled to be joining Withum’s dynamic team and advancing the firm’s presence and success nationally with concentrations from the southeast to the Southwest.

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Monday Morning Accounting News Brief: Feds Raid PwC; Big 4 Wants to Be Like Grant Thornton!? | 11.4.24

Going Concern

Well the year is just chugging along, here we are at the first Monday news brief of November. I trust you had your fill of candy the past few days. Now gorge on some news! The Aussie feds are swarming PwC Australia HQ , staff have been advised to “please carry on as usual.” Australian federal police officers have commenced a search for documents at the headquarters of PwC Australia in response to the damaging tax leaks scandal.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Bloomberg Tax Partners with Specialized Tax and Expense Solutions

CPA Practice

Bloomberg Tax & Accounting has launched a strategic partner program with several tax software providers focused on automating common tax processes. This collaboration extends the value of Bloomberg Tax’s suite of solutions and provides customers with a more robust set of tools to address critical tax workflow challenges. The new strategic referral network includes: K1x : An AI-powered platform that streamlines alternative investment data — K-1s, K-3s, and 990s — for investors and advisors.

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Fraud Prevention Resources for Startups

BurklandAssociates

Protect your startup from costly fraud with expert insights, tools, and resources designed to strengthen your defenses. The post Fraud Prevention Resources for Startups appeared first on Burkland.

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Navigating the new era of auditing with AI technology: Meet Audit Intelligence Analyze

ThomsonReuters

← Blog home In the rapidly evolving field of auditing, AI-powered technologies are revolutionizing traditional processes. As emerging technologies and regulations reshape the field, many auditors find themselves grappling with outdated processes and inefficiencies. The need for advanced technologies in modern auditing has never been more apparent, and artificial intelligence (AI) is at the forefront of this evolution.

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Why accounting firms are bleeding talent

Accounting Today

Stagnating wages and gaps in career path awareness have pushed young professionals away from accounting, leading to a dearth of candidates and leaving firms scrambling to find a solution.

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CBIZ Completes Marcum Acquisition

CPA Practice

Top 15 accounting firm Marcum has officially been absorbed into top 11 firm CBIZ, as the 2.3-billion-dollar megadeal that was announced on July 31 officially closed on Friday. As a result of the Marcum acquisition, CBIZ will have combined annual revenue of approximately $2.8 billion, more than 10,000 team members, and over 135,000 clients. The Cleveland-based firm is expected to vault over Grant Thornton for seventh spot in the ranking of the top 10 largest U.S. accounting firms based on revenue

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Tax engine integration strategies for digital transformation success

ThomsonReuters

← Blog home As corporate tax departments embrace digital transformation, utilizing a tax engine to automate and simplify tax calculations and reporting is becoming a core part of their strategy. Indeed, fully half of tax professionals surveyed recently said their companies are either already using an indirect tax determination engine or plan to purchase one in the next 12 months, according to the Thomson Reuters Institute 2024 Corporate Tax Technology Report.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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Blue & Co. Merges in Mellen, Smith, and Pivoz

CPA Practice

Top 60 accounting firm Blue & Co. has expanded into the Detroit market after combining with Mellen, Smith, and Pivoz (MS&P), a full-service accounting and advisory firm based in Bingham Farms, MI, effective Nov. 1. Carmel, IN-based Blue & Co. has added three partners—Jason Pivoz, Jeffry Campeau, and Mark Smith—and more than 20 employees from MS&P.

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Outsourcing Tissue Culture for Cannabis Growers: Eliminate Risk, Boost Yield

Anders CPA

With all the complications of running a cannabis business, it’s easy to forget that cannabis is a plant: a living organism with its own genetics that takes care and cultivation to grow. To get all the various strains that now fill our stores, there are things a grower can do to improve those genetics and test to make sure we’re getting the highest quality plant possible.

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Sikich Expands AI Consulting Offerings

CPA Practice

Top 30 accounting firm Sikich on Nov. 4 announced it has expanded its artificial intelligence capabilities with the launch of the firm’s new Sikich AI Solutions Studio and the appointment of Ray Beste as principal AI strategist. Ray Beste Building on established generative AI and data analytics strengths, the expanded AI offerings deliver innovative solutions that drive business growth and success, the Chicago-based accounting firm said.

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FASB issues standard on income statement expenses

Accounting Today

In response to demand from investors, public companies will be required to disclose more information about certain expenses in the notes to financial statements.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Chrysa Cousley Named the 2024 MOCPA Outstanding Young Professional

Anders CPA

Tax Manager Chrysa Cousley, MBA has been named has been named the 2024 Outstanding Young Professional by the Missouri Society of Certified Public Accountants (MOCPA). The annual MOCPA Impact Award for Outstanding Young Professional honors one CPA under the age of 35 who serves as an emerging and dynamic leader in the profession. This recognition highlights Chrysa’s dedication to the profession through mentorship, promoting financial literacy, encouraging others to pursue the CPA credential and h

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EY forms Global AI Advisory Council

Accounting Today

Big Four firm Ernst and Young announced the formation of the Global AI Advisory Council, which will act as a sounding board as EY manages the extensive scale of AI deployments.

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Finance & Insurance Tops All Industries in Employee Benefits

CPA Practice

According to recent data, 78% of employees say they’re more likely to stay at a job based on the benefits offered. Furthermore, the cost of replacing an employee can be between one-half and two times the departing employee’s salary. To discover which industries offer the most comprehensive employee packages, international telecom provider TollFreeForwarding.com gathered new data to rank 16 industries on their employee benefits.

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Planning for 2025's tax brackets and retirement rules

Accounting Today

The adjustments reflect how inflation is slowing down and upcoming changes to the rules based on the Secure 2.0 Act and the Tax Cuts and Jobs Act.

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How To Break Digital Transformation Barriers And 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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Nominations for 2025 ProAdvisor Awards Continue

Insightful Accountant

It's not too late, you can still tell that 'special ProAdvisor' in your life just how much you think of them by nominating them for the 2025 ProAdvisor Awards. Whether they are U.S. or International ProAdvisor we're still accepting nominations.

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PCAOB updates standard-setting, rulemaking agendas

Accounting Today

The Public Company Accounting Oversight Board staff updated its short- and mid-term standard-setting agenda as well as its rulemaking agenda.

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Join us for App Academy - Tomorrow 11/6/2024

Insightful Accountant

Murph is excited to be joining the team for Wednesday's App Academy. He will be sharing insights and commentary on the five participating app solutions.

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PCAOB board member complains of persecution by senators

Accounting Today

Christina Ho said Sens. Elizabeth Warren and Sheldon Whitehouse are unfairly singling her out for audit failures at firms.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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Third-Party Cyber Risk Management Shows Progress

CPA Practice

The 2024 study demonstrates Progress is being made in third-party risk management as respondents shifted focus from TPRM awareness and adoption to enforcement and compliance. That’s according to a new survey by BlueVoyant , a cyber defense company. The fifth annual global survey into supply chain cyber risk management highlights ongoing investment in technology and talent to enhance supply chain security.

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Art of Accounting: Catch someone doing something good

Accounting Today

Many managers are not in the habit of telling people they did something good.

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Future-proofing Your Accounting Firm

Canopy Accounting

In this free eBook, "Future-Proofing Your Accounting Firm," you’ll learn data-backed strategies on AI integration, digital transformation, cybersecurity, and workforce planning—all critical to future-proofing your firm.

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Is PE right for you?

Accounting Today

Private equity is a solution to many firm problems — but not for all firms. Allan Koltin dives into who might be a good fit for PE, and more.

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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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Withum Announces Cloud-Based Digital Audit Platform

CPA Practice

Withum , a nationally ranked advisory and public accounting firm, has announced the implementation of its integrated cloud-based digital audit platform, marking a significant milestone in its innovation offerings. By integrating this platform with the firm’s other cloud-based solutions, Withum has created automated workflows that foster consistency, collaboration and scalability.

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M&A roundup: KSM, KNAV and ATKG expand

Accounting Today

KSM adds SGKK; KNAV merges in HLG Netherlands; ATKG combines with SPR.

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Forvis Mazars Launches ProBank Advisor

CPA Practice

Forvis Mazars, LLP, ranked among the largest public accounting and consulting firms in the United States, today launched ProBank Advisor , a secure compliance advisory platform for financial institutions. Staying current on compliance matters is a major challenge for financial institutions as the federal regulatory landscape is ever-changing. ProBank Advisor offers assistance by connecting institutions with a robust team of compliance professionals, including former examiners, attorneys, and ban

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ESG Adoption and Hospitality: The Path Forward

Menzies

Menzies LLP - A leading chartered accountancy firm. The most successful and progressive leaders of today are embracing ESG (Environmental, Social, Governance) throughout their businesses in various forms. ESG is a vast and ever-changing topic that is no longer background noise and should be considered the backbone of any business. The Hospitality industry is no different and especially customers are now wanting to see that a facility practices social responsibility, has ethical governance plans,

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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.