NEWS: ACCOUNTING TODAY
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   NEWS: ACCOUNTING TODAY
Accounting Today
Oct 30, 2024

EY resigns from Super Micro audit over 'integrity'
The resignation comes after Department of Justice launched a probe into an ex-employee's claims that Super Micro violated accounting rules.

Accounting Today
Oct 30, 2024

FASB proposes to clarify guidance on acquirer in business combinations
The proposed ASU would set more consistent requirements for determining the acquirer when a transaction is achieved by exchanging equity interests.

Accounting Today
Oct 30, 2024

Bonadio to merge in Cover & Rossiter
The Top 50 Firm is expanding into Delaware with its latest M&A deal.

Accounting Today
Oct 30, 2024

Intuit rolls out new features and capacities
Intuit announced new features and capacities, many of them within its QuickBooks line of products.

Accounting Today
Oct 30, 2024

Xero awards $460K to 'Beautiful Business Fund' winners
Xero announced the four winners of its annual Beautiful Business Fund competition, who each received a portion of $460,000 in prize money.

Accounting Today
Oct 30, 2024

Xero awards $460K to 'Beautiful Businesses'
Xero announced the winners of its annual Beautiful Business Fund competition, of which four were based in the US.

Accounting Today
Oct 30, 2024

Let's make accounting great again
Far too often, accountants get put into a box, and people assume this is a single-path career. But that is far from reality.

Accounting Today
Oct 30, 2024

Let's put accounting on top again
Far too often, accountants get put into a box, and people assume this is a single-path career. But that is far from reality.

Accounting Today
Oct 30, 2024

Audit partners concerned about 2025 risks
A potential recession is the biggest economic risk factor that audit partners foresee over the next 12 months, followed by regulations and geopolitical instability, said a survey by the Center for Audit Quality.

Accounting Today
Oct 30, 2024

Lovesac to pay SEC $1.5M over buried expenses
The sofamaker agreed to pay $1.5 million to the SEC to settle allegations that two former executives devised a fraudulent accounting scheme to meet a key Wall Street metric.

Accounting Today
Oct 30, 2024

Lovesac to pay SEC $1.5M over scheme that buried expenses
The sofamaker agreed to pay $1.5 million to settle allegations that two former executives devised a fraudulent accounting scheme to meet a key Wall Street metric.

Accounting Today
Oct 30, 2024

Private sector added 233K jobs in October as annual pay grew
Private sector employers added a robust 233,000 jobs in October as annual pay grew 4.6% year over year, payroll giant ADP reported.

Accounting Today
Oct 30, 2024

233K jobs added as annual pay grows
Private sector employers added a robust 233,000 jobs in October as annual pay grew 4.6% year over year, payroll giant ADP reported.

Accounting Today
Oct 30, 2024

Auditors navigate a state of 'permacrisis'
Richard Chambers is seeing a neverending series of crises confronting internal auditors and posing risks to their organizations.

Accounting Today
Oct 29, 2024

Herbein acquires Bumpers
The Pennsylvania-based Regional Leader is expanding to Delaware.

Accounting Today
Oct 29, 2024

TCJA extension or sunset: Gamechangers for professional athletes
Uncertainty around sunsetting provisions should have professional athletes planning ahead on their taxes.

Accounting Today
Oct 29, 2024

In the blogs: Are we ready?
Foreign gifts and penalties; FBARs and the Constitution; contention and confusion; and other highlights from our favorite tax bloggers.

Accounting Today
Oct 29, 2024

Private equity changes accounting career paths
The increasing amount of investment from private equity firms in the accounting profession is transforming the ways accountants pursue their careers, according to a new report.

Accounting Today
Oct 29, 2024

Small biz job growth impacted by hurricanes
Job and wage growth continued at a moderate pace among small businesses in October, likely slowed by the impact of recent hurricanes down south, according to payroll company Paychex.

Accounting Today
Oct 29, 2024

FASB proposes update on accounting for software development
The Financial Accounting Standards Board issued a proposed accounting standards update to update the guidance on accounting for software, specifically when it comes to developing software for internal use.

Accounting Today
Oct 29, 2024

FASB proposes update on software development
A proposed ASU would update the guidance on accounting for software, specifically when it comes to developing software for internal use.

Accounting Today
Oct 29, 2024

Enhance your firm's client experience
Your clients have options, and the experience you offer can make and keep you the clear choice.

Accounting Today
Oct 29, 2024

How to create the ultimate client experience at your accounting firm
Your clients have options, and the experience you offer can make and keep you the clear choice.

Accounting Today
Oct 29, 2024

Thomson Reuters makes major investment in AI cross-selling
Thomson Reuters has made a major investment in Propense, an AI-powered cross-selling solution, which will enable the company to expand its reach among CPA firms.

Accounting Today
Oct 29, 2024

Thomson Reuters makes major investment in AI cross-selling software
Thomson Reuters has made a major investment in Propense, an AI-powered cross-selling solution, which will enable the company to expand its reach among CPA firms.

Accounting Today
Oct 29, 2024

How tax breaks brought a Chinese solar giant to Ohio
What looks like a domestic triumph is also a win for America's primary industrial and geopolitical rival.

Accounting Today
Oct 29, 2024

How American tax breaks brought a Chinese solar energy giant to Ohio
What looks like a domestic triumph is also a win for America's primary industrial and geopolitical rival.

Accounting Today
Oct 29, 2024

U.S., Taiwan to talk on double taxation
Taiwan's firms see high U.S. taxes as a major impediment to additional investment in America.

Accounting Today
Oct 29, 2024

US, Taiwan to begin talks on a deal to address double taxation
Taiwan's firms see high U.S. taxes as a major impediment to additional investment in America.

Accounting Today
Oct 29, 2024

10M more 1040s by 2031
The number of taxpayers filing Forms 1040 and 1040-SR are projected to increase by about 10,000,000 over the next eight years.

Accounting Today
Oct 28, 2024

Trump proposes tax credit for caregivers
It's the latest in a series of tax breaks announced by the Republican nominee with the election only about a week away.

Accounting Today
Oct 28, 2024

Alaska flood victims get tax relief
The IRS is pushing back filing and payment deadlines for those impacted in Juneau.

Accounting Today
Oct 28, 2024

AI in a CPA practice brings benefits and responsibilities
Firms are increasingly turning to artificial intelligence to help with data management and security, but paradoxically, that technology can pose security risks of its own.

Accounting Today
Oct 28, 2024

Only 1 HSA provider rated 'high' quality by Morningstar. Here's why
Low interest-rate yields, minimum-asset requirements for investing and higher fees brought lower grades for most of the firms reviewed in an annual study.

Accounting Today
Oct 28, 2024

EY acquires tech consulting firm
Dignari is a woman-owned firm specializes in digital ID and access management solutions for U.S. government clients.

Accounting Today
Oct 28, 2024

EY acquires tech consulting firm Dignari
The woman-owned firm specializes in digital identity and access management solutions to provide cybersecurity for U.S. government clients.

Accounting Today
Oct 28, 2024

Ending tax breaks for wealthy fuels support in Puerto Rico race
Juan Dalmau has tapped into frustration with the island's two-party system by proposing broad tax and energy reforms.

Accounting Today
Oct 28, 2024

Ending tax breaks for wealthy plays well in Puerto Rico race
Juan Dalmau has tapped into frustration with the island's two-party system by proposing broad tax and energy reforms.

Accounting Today
Oct 28, 2024

Art of Accounting: Planning for 2025's tax season
Tax season is about providing superior, high-value services to clients. That means doing everything necessary to make the experience working with you pleasant.

Accounting Today
Oct 28, 2024

Setting standards for AI: Inside ISO 42001
ISO 42001 is a comprehensive framework concerning oversight of AI management systems in terms of security, ethics and accountability.

Accounting Today
Oct 28, 2024

Schellman takes the lead as an AI watchdog
Top 50 Firm Schellman recently became the first U.S. firm accredited to certify compliance with the new ISO 42001 AI management standard.

Accounting Today
Oct 28, 2024

A primer on PE
Private equity comes with a great many questions; Bob Lewis offers answers and valuable advice for accountants looking at this major trend.

Accounting Today
Oct 25, 2024

IRS slow to stop fraudsters using tax practitioner telephone line
The Internal Revenue Service did little to stop fraudsters who used the Practitioner Priority Service Line to fraudulently claim nearly $462 million in refunds, per the Treasury Inspector General for Tax Administration.

Accounting Today
Oct 25, 2024

EY fires staff for 'cheating' on training courses
Ernst & Young fired dozens of its U.S. staffers for taking multiple online training courses simultaneously, violating the firm's ethic's policies.

Accounting Today
Oct 25, 2024

CrowdStrike, Carahsoft struck deal to sell software IRS didn't buy
Questions have been raised about how Crowdstrike accounted for the deal in its financial statements.

Accounting Today
Oct 25, 2024

IRS offers guidance on energy-efficient homes
Final regulations are also available for the Advanced Manufacturing Production Credit established by the Inflation Reduction Act.

Accounting Today
Oct 25, 2024

On the move: Ascend adds chief AI officer
Traphagen CPAs raises over $1K for American Cancer Society; KPMG appoints four partners to deal advisory & strategy practice; and more news from across the profession.

Accounting Today
Oct 25, 2024

Williams sworn in for second term at PCAOB
Erica Williams, who began her first term in January 2022, will now helm the Public Company Accounting Oversight Board through Oct. 24, 2029.

Accounting Today
Oct 25, 2024

Tech news: RSM announces "Catamaran" suite of outsourced solutions
RSM announces "Catamaran" suite of outsourced solutions; Avalara announces AvaTax for Accounts Payable; Sage Copilot launches in US; and other accounting technology news.

Accounting Today
Oct 25, 2024

Tech news: RSM announces suite of outsourced solutions
Plus, Avalara announces AvaTax for Accounts Payable; Sage Copilot launches in U.S.; and other accounting technology news.

Accounting Today
Oct 25, 2024

Practice Profile: Providing rare clarity
Mariel Diaz's accounting practice is custom-made for her exclusively jewelry-industry clients.

Accounting Today
Oct 25, 2024

Boomer's Blueprint: AI in the 2025 tax season
Artificial intelligence is transforming how firms manage tax returns, communicate with clients and handle administrative tasks.

Accounting Today
Oct 25, 2024

5 cybersecurity best practices for accountants
Making sure your firm is well protected is critical for maintaining client trust.

Accounting Today
Oct 25, 2024

Cohen & Co. gets private equity infusion
The Top 50 Firm based in Cleveland is the latest to receive a private equity investment, in this case from Lovell Minnick Partners.

Accounting Today
Oct 24, 2024

Tax Fraud Blotter: Rampant self-dealing
Makin' a list; caught again; back to school; and other highlights of recent tax cases.

Accounting Today
Oct 24, 2024

A plague on both your (political) parties
Accountants are pretty unhappy with the current political situation.

Accounting Today
Oct 24, 2024

Accountants and the 2024 election: The home stretch
As Nov. 6 gets closer and closer, the accounting profession is leaning heavily Republican.

Accounting Today
Oct 24, 2024

IPSASB issues exposure draft on tangible natural resources
The International Public Sector Accounting Standards Board today issued Exposure Draft 92, Tangible Natural Resources.

Accounting Today
Oct 24, 2024

Harris goes quiet on Biden's push to tax unrealized gains
Harris' campaign also declined to say if she supports the specifics of the minimum tax on billionaires included in Biden's annual budget request.

Accounting Today
Oct 24, 2024

IRS starts up pass-through compliance unit
The Internal Revenue Service is looking to boost its historically low audit rates for complex arrangements.

Accounting Today
Oct 24, 2024

Intuit ProAdvisor Academy offers new training, certifications
Intuit announced the launch of the new ProAdvisor Academy, an expansion of the QuickBooks ProAdvisor Program which offers new training, certifications and badges.

Accounting Today
Oct 24, 2024

Creating a continuous learning culture
Learning should be an ongoing process, not just an annual obligation or an item to tick off during performance evaluations.

Accounting Today
Oct 24, 2024

New rules for Sustainable Aviation Fuel Credit
The Internal Revenue Service set the credit at $1.25 to $1.75 per gallon of fuel with a minimum reduction of 50% of GHGs.

Accounting Today
Oct 23, 2024

Andersen establishes institute for finance, economics
The global professional services firm founded by a group of former Arthur Andersen partners has attracted influential economists to its advisory board.

Accounting Today
Oct 23, 2024

Tax-exempt groups don't need to file corporate AMT form for 2023
The Treasury and the IRS granted a filing exception for tax-exempt organizations, saying they don't have to file Form 4626 for tax year 2023.

Accounting Today
Oct 23, 2024

PCAOB posts three resources for new standard
The Public Company Accounting Oversight Board posted a practice aid, comparison document and webinar related to the implementation of QC 1000.

Accounting Today
Oct 23, 2024

Balancing the interests between attorney-client privilege and the auditor's need to know
Companies often face the tricky task of producing privileged and confidential information to their independent auditors for audit purposes.

Accounting Today
Oct 23, 2024

Wolters Kluwer announces Axcess enhancements
Wolters Kluwer announced a host of integrations and improvements in tax, practice management and audit for its CCH Axcess product.

Accounting Today
Oct 23, 2024

Wolters Kluwer announces integrations, enhancements
Wolters Kluwer announced a host of integrations and improvements in tax, practice management and audit for its CCH Axcess product.

Accounting Today
Oct 23, 2024

AuditBoard rolls out AI features for analytics, automation
Audit, risk and compliance platform AuditBoard announced the addition of three new AI-driven automation and analysis capacities to its platform.

Accounting Today
Oct 23, 2024

Trump excludes Asian, European cars from tax-break plan
Donald Trump touted his pledge to provide tax breaks for purchasing cars, highlighting that the benefit would only apply to vehicles made in the U.S.

Accounting Today
Oct 23, 2024

Trump excludes Asian, European cars from vehicle tax-break plan
Donald Trump touted his pledge to provide tax breaks for purchasing cars, highlighting that the benefit would only apply to vehicles made in the U.S. as he rallied voters in a crucial swing state with just two weeks until Election Day.

Accounting Today
Oct 23, 2024

What accounting firms can learn about talent management from tech vendors
Explore lessons that accountants can learn from vendors with a focus on one of the most pressing challenges in the profession: talent management.

Accounting Today
Oct 22, 2024

After the election: What's next
Regardless of the election results, we will see some tax legislation next year, says one expert.

Accounting Today
Oct 22, 2024

Accountants more pessimistic about global economy
Global confidence among accountants and finance professionals globally declined moderately in the third quarter of this year and is now at its lowest level since Q4 2023, although confidence increased in North America.

Accounting Today
Oct 22, 2024

Thomson Reuters acquires AI specialist Materia
Materia's platform can answer accounting queries in plain language and embed citations so users can verify the information.

Accounting Today
Oct 22, 2024

PCAOB sanctions, bans firm and bars partner
The Public Company Accounting Oversight Board imposed a $50,000 fine, revoked the firm's registration and barred its partner.

Accounting Today
Oct 22, 2024

IRS adjusts tax amounts for inflation for 2025
The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

Accounting Today
Oct 22, 2024

How CPAs can manage deadlines and reduce year-end stress
CPAs and accounting firms live (or die) by calendars and clear communication, with regular deadlines dictating their activities and priorities.

Accounting Today
Oct 22, 2024

Microsoft launches AI agents, deepening rivalry with Salesforce
The Redmond, Washington-based software maker said it would roll out 10 "autonomous agents" to complete tasks on behalf of people in areas such as sales, customer support and accounting.

Accounting Today
Oct 22, 2024

Microsoft launches AI agents, deepens rivalry with Salesforce
The software giant said it would roll out 10 "autonomous agents" to complete tasks on behalf of people in areas such as sales, customer support and accounting.

Accounting Today
Oct 22, 2024

U.S. extends 25% chip tax credit
The Biden administration finalized rules for a 25% tax credit for semiconductor manufacturing projects, including solar wafers.

Accounting Today
Oct 22, 2024

US extends 25% chip tax credit to wafers, including solar
The Biden administration finalized rules for a 25% tax credit for semiconductor manufacturing projects, expanding eligibility for what is likely to be the largest incentive program from the 2022 Chips and Science Act.

Accounting Today
Oct 22, 2024

In the blogs: Profound effects
Local measures galore; AI to the rescue; franchisees' checklist; and other highlights from our favorite tax bloggers.

Accounting Today
Oct 22, 2024

By the numbers: Industry niches, standard deductions and more
The latest data on how accounting firms spend time serving CAS clients, current and projected standard deductions, and other key metrics.

Accounting Today
Oct 21, 2024

Transforming client relationships: The crucial role of customer experience
Focusing on client relationships and satisfaction can lead to longer and more productive partnerships, directly impacting the firm's revenue.

Accounting Today
Oct 21, 2024

AICPA looks to ease accountant shortage in public sector
The American Institute of CPAs teamed up with the National Association of State Auditors, Comptrollers and Treasurers on a joint report calling attention to the urgent need for accountants in state and local governments.

Accounting Today
Oct 21, 2024

FASB plans updates on contract assets and liabilities, credit losses
The Financial Accounting Standards Board has decided to tweak some of its standards related to contract assets and liabilities for construction contractors.

Accounting Today
Oct 21, 2024

IPSASB releases new strategy and work program
The International Public Sector Accounting Standards Board issued its updated five-year strategy and work program.

Accounting Today
Oct 21, 2024

The post-'stretch' home stretch for Roth IRA conversions
The first Secure Act was a "game-changer for IRAs and Roth IRAs," according to a retirement expert. Here's the compelling case for paying taxes sooner.

Accounting Today
Oct 21, 2024

Trump considers no taxes for military, police and firefighters
The idea, which the former president was asked about during an interview, could impact as many as 20 million taxpayers

Accounting Today
Oct 21, 2024

Art of Accounting: A template for next tax season
Most accountants have just completed their tax season for last year's returns and are probably not thinking about their next tax season. But they should.

Accounting Today
Oct 19, 2024

PTIN renewal season kicks off
The IRS is reminding tax pros to register for or renew their professional ID number by Dec. 31.

Accounting Today
Oct 18, 2024

On the move: RRBB hires tax partner
Sax reaches $1 million milestone for annual charity run; Withum adds new ESG offering; and more news from across the profession.

Accounting Today
Oct 18, 2024

Armanino takes on minority investment
Private equity firm Further Global has taken a minority stake in the Top 25 Firm.

Accounting Today
Oct 18, 2024

GASB issues guidance on capital asset disclosures
The Governmental Accounting Standards Board's Statement No. 104 requires separate disclosures for certain types of capital assets.

Accounting Today
Oct 18, 2024

Tech news: Data Snipper releases AI-powered document validator
Data Snipper releases AI-powered document validator; TaxPlanIQ announces 1-day virtual summit; IRS announces availability of 18 online seminars; and other accounting tech news.

Accounting Today
Oct 18, 2024

Tech news: Data Snipper's AI-powered document validator
Plus, TaxPlanIQ announces virtual summit; IRS announces availability of 18 online seminars; and other accounting tech news.

Accounting Today
Oct 18, 2024

Enforcement vs. progress: Audit reform amid heavy regulation
The PCAOB's aggressive enforcement agenda overshadows the profession's achievements.

Accounting Today
Oct 18, 2024

Tax Strategy: Tax assistance for natural disasters
So far, around 150 federal disaster declarations have already been announced for 2024, involving 44 states, two territories, and half a dozen Native American tribes or bands.

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