This year’s report of the IRS Advisory Council includes recommendations on 37 issues covering a broad range of topics, among the most important of which are IRS funding and oversight of preparers. The top general report issues also include IRS Strategic Operating Plan assessment and analysis, hiring, online accounts promotion
As the AI revolution continues apace, data has confirmed that generative AI is making some workers more productive and some companies more profitable, though this does not mean it’s a good idea to start cutting staff. During a virtual roundtable hosted by KPMG last week, Pär Edin, the U.S. AI
Captive audience; some disagreement; game of 21; and other highlights of recent tax cases. Barrington, Illinois: Tax preparer Gary Sandiego has been sentenced to 16 months in prison for preparing and filing false returns for clients. He owned and operated the tax prep business G. Sandiego and Associates and for
The offices of KPMG in ChicagoTannen Maury/Bloomberg KPMG released its inaugural Friends at Work survey, which examines the role that workplace friendships play amidst economic uncertainties, political divides, a growing reliance on technology and shifting work environments. The AICPA & CIMA, together forming the Association of International Certified Professional Accountants,
The American Institute of CPAs is still concerned about the Public Company Accounting Oversight Board’s new firm and engagement metrics standard, despite some modifications from the original proposal. During a board meeting Thursday, the PCAOB approved two new standards, on firm and engagement metrics, and firm reporting. Both would have
The Public Company Accounting Oversight Board voted Thursday to adopt new requirements for auditing firms to report on various metrics for both the firm and its engagements, as well as change the annual reports the firms submit to the PCAOB. The changes involve two standards, on firm and engagement metrics,
FloQast, an accounting software developer based in Los Angeles, recently debuted Audit Jamz, an accounting music album that provides an enjoyable way for CPAs to earn continuing professional education credit. The album, which dropped in October, comes from FloQast Studios, which also produces the YouTube sitcom series PBC, featuring several
Aprio, a Top 25 Firm based in Atlanta, is expanding to Southern California by acquiring Kirsch Kohn Bridge, a firm based in Woodland Hills, effective Nov. 1. The deal will grow Aprio’s geographic footprint while enabling it to expand into new local markets and industries. Financial terms were not disclosed.
Facing a backlash from audit firms over its proposal to toughen the standards for failing to detect noncompliance with laws and regulations, the Public Company Accounting Oversight Board has decided to delay action on the standard this year. The PCAOB proposed the so-called NOCLAR standard in June, with the goal
Tax compliance and automation solutions provider Avalara and digital asset accounting platform Ledgible announced a partnership to offer enhanced digital asset cost basis reporting for 1099s. The collaboration enables businesses to integrate digital asset cost basis information into their tax forms. … Expense management solutions provider Emburse added updates and