The Internal Revenue Service’s progress in improving tax compliance in recent years has been threatened by cuts in funding and hiring, according to a new report. The report, released by the Treasury Inspector General for Tax Administration, examined IRS trends in compliance activities through fiscal year 2023. That was a
The Indiana CPA Society’s CPA Educational Foundation awarded $24,550 in 2025-26 college and CPA exam scholarships. The new class of scholarship recipients will receive a total of $21,000: Max Carmody, graduate student, Indiana University; Adam Hernandez, freshman, Purdue University; Kyera North, junior, University of Evansville; Ryan Rakaska, junior, Indiana University
Staff members at Hannis T. Bourgeois Accounting Today and Best Companies Group have announced the members of the 2025 Best Accounting Firms to Work For list. The annual survey and awards program is designed to identify, recognize and honor the best employers in the accounting profession. The 2025 list is
The Institute of Internal Auditors presented its updated competency framework for internal auditors during its international conference this week in Toronto. The new competency framework has three main components, with skill subcategories, proficiency levels and characteristics of demonstrating proficiencies in each of the categories, similar to the old competency framework.
Succession planning for closely held business owners has always carried estate tax risks, but the Supreme Court’s 2024 decision in Connelly v. United States has made those risks more costly (to the tune of $890,000 for one taxpayer’s estate). The Supreme Court held that life insurance proceeds used for a
The Internal Revenue Service’s plan under the Biden administration to audit high-income taxpayers appears less likely after staffing and budget cuts under the Trump administatation, according to a new report. The report, released by the Treasury Inspector General for Tax Administration, reviewed the IRS’s examination plan to ensure Inflation Reduction
The Public Company Accounting Oversight Board today sanctioned Goldman & Company, CPA’s, and Raymond Chabot Grant Thornton for violations related to required audit records and disclosures of key information for investors. The board found that Goldman & Company violated AS 1215, Audit Documentation, by failing to timely assemble a complete
Maggie Havelka Schneider Downs & Co., Pittsburgh, added as shareholders: Maggie Havelka, who joined the firm in 2013 and focuses on estate, succession planning and individual taxation for business owners, executives and high-net-worth individuals; Patrick Hickman, who joined the firm in 2023; Logan Kowcheck, who joined the firm in 2011,
Cloud costs are on the rise, and most organizations are struggling to keep them under control. For one thing, most organizations have a passive approval process for realizing spend – that is, no purchase order or written or verbal approval. Cost is based on consumption. Organizations need deep insight into
A joint report authored by the AICPA and Chartered Professional Accountants Canada said the rapid rise of AI throughout the global economy opens up new opportunities for accounting professionals to provide independent assurance of these systems to help build trust and confidence in their functions. In just a few years,