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Another small accounting firm has reported a data breach involving the protected health information of a whole lotta people. On October 7, Dohman, Akerlund & Eddy, LLC (or DA&E as we’ll refer to them for the remainder of this article) of Aurora, Nebraska sent out letters to 82,207 people whose data — including name, address, date of birth, Social Security number, medical treatment/diagnosis information, dates of service, health insurance provider name, health insurance claim
According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm. In fact, according to the inaugural 2024 BDO Audit Innovation Survey , released on Oct. 7, the ability to leverage new technologies was a slightly more important factor that influences audit firm selecti
A survey of internal audit and IT leaders found that while they identity AI as a growing technology risk, they have the least confidence in their ability to evaluate and handle its risks versus other technologies.
As the rapid adoption of artificial intelligence (AI) transforms industries, organizations are becoming increasingly aware of the elevated risks it brings—particularly in the areas of cybersecurity and data privacy. The 12th Annual Global Technology Audit Risks Survey by Protiviti and The Institute of Internal Auditors (IIA) highlights how AI is reshaping the perception of existing risks, with 59% of IT audit leaders identifying AI as a significant threat over the next two to three years.
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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.
Grappling with rising labor costs, ongoing talent shortages, and the increased complexity of aligning human capital investments with business goals? You need HR strategy and workforce planning systems that support a more strategic, data-driven approach. Only one-third of HR leaders feel confident in their organization’s ability to effectively use data in the workforce planning process, according to Gartner.
Proposals on the Corporate Alternative Minimum Tax and Alternative Fuel Vehicle Refueling Property Credit lead the wave of legislative and procedure changes out of the Internal Revenue Service last month.
Proposals on the Corporate Alternative Minimum Tax and Alternative Fuel Vehicle Refueling Property Credit lead the wave of legislative and procedure changes out of the Internal Revenue Service last month.
Corporations or LLCs that are owned entirely by Indian Tribal governments and formed under the laws of the Tribes that own them wouldn’t be recognized as separate entities for federal tax purposes and wouldn’t be subject to federal income tax, according to regulations proposed by the Treasury Department and the IRS on Oct. 7. During discussions with the Treasury Tribal Advisory Committee, Tribes had requested guidance on the federal tax classification of Tribal law entities entirely owned by Tri
Starting salaries in public accounting are projected to increase an average of 8.9% next year, with roles in tax services expected to see an average increase of 8.4% in 2025 and roles in audit and assurance expected to rise by an average of 9.5%, according to a CPA Practice Advisor analysis of public accounting pay data provided by specialized staffing firm Robert Half.
Search engines have conditioned all of us to find what we need to know with a few clicks. But not all search engines – or state tax websites – are created equal. What it’s like typing “sales tax” into that little rectangle with the magnifying glass on each state’s website? Which states are up front from the first click with what you need and who seems to almost delight in hiding their information?
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
In response to Hurricane Helene’s recent devastation and Hurricane Milton’s impending landfall, Wolters Kluwer Tax & Accounting is highlighting tax relief opportunities available to those affected by natural disasters in 2024. Tax relief options for impacted individuals and businesses could include filing and payment deadline extensions, casualty loss deductions, and penalty-free access to retirement funds.
Budgeting is crucial for any business that wants to succeed in the long term. As a business owner of a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.
The Deloitte Global Boardroom Program surveyed 468 board members and C-suite executives in 57 countries from May to July 2024. Some respondents may serve at multiple organizations as both executives and board members. Why this matters Although enterprise investment in AI is increasing globally, many boards are still getting up to speed and are unsure how to govern its use.
Whether it's the toxic client you can't afford to lose, the partner who refuses to align with the firm's vision and values, or the superstar employee who won't cooperate, high-stakes scenarios inevitably have a negative impact on the firm.
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.
The Treasury Department and the IRS issued guidance on Oct. 3 that addresses long-term, part-time employees in 403(b) retirement plans under the SECURE 2.0 Act, which applies to 403(b) plans beginning in 2025. In addition, Treasury and the IRS announced a delayed applicability date for related final 401(k) regulations. 403(b) plans are similar to 401(k) plans but are generally for employees of charities and public schools.
Sponsored by Govee. Not really. Deloitte has added Greenhouse #6 to its stable of Greenhouses across the US in San Francisco, New York, Washington, Houston, Deloitte University in Westlake, TX, and now Chicago. What are Greenhouses? “Deloitte Greenhouses are cutting-edge physical spaces located around the world designed to help clients tackle their complex problems,” says Deloitte.
Creating unique, clear and meaningful names for your offerings sets your firm apart from competitors and communicates value more effectively to clients.
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?
Lane Gillespie Bankrate.com (TNS) American culture changes at a breakneck pace — just ask fans of Stanley cups and skinny jeans in 2024. But over the past decades, one mantra hasn’t changed much: Don’t talk about your personal finances. Today, money is such an awkward topic that only 38% of U.S. adults feel comfortable discussing their bank account balances with family and close friends, according to Bankrate’s new Financial Taboos Survey.
Each of the Acumatica Editions were included in the 2024 R2 update release. This article discusses various enhancements to the Construction Edition. Future Insightful Accountant articles will cover other Acumatica Edition articles.
The Association of International Certified Professional Accountants has sent comments to the Organisation for Economic Co-operation and Development (OECD) Center for Tax Policy and Administration requesting clarification on the Transitional Country-by-Country Reporting (CbCR) Safe Harbour for non-implementing jurisdictions in 2024 under Global Anti-Base Erosion Model rules (GloBE), also known as Pillar Two.
On August 28, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a final rule aimed at combating illicit finance and addressing national security threats in the investment adviser sector. Key Elements Expansion of the “Financial Institution” Definition Investment advisers, including both registered and exempt reporting advisers, are now classified as financial institutions under the Bank Secrecy Act.
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.
Withum was excited to participate in the 2024 Private Funds CFO Fees & Expenses Survey, which has been conducted biennially since 2014. As Withum partner Colleen Fay highlights, fee flexibility has become a focal point for private equity funds, which are increasingly adapting to management fee models in six distinct ways. The Private Funds CFO Fees & Expenses Survey has once again captured the latest evolutions in one of the most sensitive areas of fund negotiations.
As DMCL continues to grow and evolve, we’re proud to recognize the outstanding contributions of our team members who’ve gone above and beyond this year. At DMCL, our success is driven by the innovation, dedication, and expertise of our people, and today, we’re excited to announce the promotion of several exceptional individuals. Their commitment to excellence and fresh perspectives have been instrumental in helping us navigate challenges and strengthen our standing as a leading accounting
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As artificial intelligence (AI) and machine learning (ML) continue to revolutionize industries, tax preparers face new challenges in navigating the complex landscape of research and development (R&D) tax credits for their clients.
As businesses grow, so do their IT needs. Managing these needs internally can become overwhelming, particularly for small to mid-sized companies that may not have the resources to support a full-scale IT department. Co-managed IT services offer a flexible solution that allows businesses to partner with a technology provider to supplement your current team.
Quadient took the spotlight at the Future Forward App Academy, showcasing their award-winning AP (Accounts Payable) and AR (Accounts Receivable) automation solutions.
Employees in positions of power have greater opportunities to commit and conceal financial statement fraud. Tracy explains how and why this is the case in the video below.
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