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Companies scrambling to secure tech talent for internal audit teams

March 20, 2023

Less than one-third of audit team leaders surveyed have access to the talent they need to fuel AI and machine learning solutions. Leaders are trying a variety of approaches to bridge the gap.

  • accounting and auditing
  • technology and cybersecurity

Logging into Zoom at the beach could land you a tax bill

March 20, 2023

When does doing a little work on vacation turn into a stay that piques the interest of local tax authorities? And does a U.K. company, for example, face tax complications abroad if they have staff and key decision makers are dotted across Europe working remotely?

  • technology and cybersecurity
  • federal tax

Why CFOs Need to Evaluate and Prioritize Cybersecurity Initiatives

March 20, 2023

The CEO of White Knight Labs discusses how CFOs can assess and address the unique cybersecurity threats posed by remote workers and the cloud.

  • business and industry
  • technology and cybersecurity

FASAB issues bulletin on reimbursable work agreements

March 17, 2023

The Federal Accounting Standards Advisory Board (FASAB) on Friday issued Technical Bulletin 2023-1, Intragovernmental Leasehold Reimbursable Work Agreements, which is intended to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54, Leases, and other relevant statements.

  • accounting and auditing

Firms of all sizes are culling clients

March 17, 2023

In the face of staffing shortages and capacity crunches, accounting firms of all sizes are culling their client work, according to a recent report.

  • practice management

Taxpayer services should get more of that $80 billion, advocate says

March 17, 2023

The IRS should spend more of its $80 billion appropriation over 10 years on taxpayer services and business systems modernization and less on enforcement and operations, National Taxpayer Advocate Erin Collins said Thursday in a blog post.

  • federal tax

CT comptroller seeks solutions to municipal pension fund crisis

March 16, 2023

Towns say it’s time to curb benefits for new municipal employees. Unions say this would trigger staffing crisis

  • advocacy - state

3 trends that will reshape accounting and finance in 2023

March 15, 2023

The past few years have given us a deep appreciation for how quickly the unexpected can upend our assumptions. And there's no question that uncertainty — around everything from inflation and macroeconomic volatility to geopolitical tensions and regulatory shifts — has dominated discussions at organizations in all industries and regions.

  • accounting and auditing
  • business and industry
  • practice management
  • technology and cybersecurity

54% of CFOs Have Positive Outlook Despite Economy: Weekly Stat

March 15, 2023

Alongside a majority positive outlook, nearly all CFOs are preparing for at least a mild recession, according to a Deloitte survey.

  • business and industry

FASB Seeks Public Comment on Proposed Enhancements to Income Tax Disclosures

March 15, 2023

The Financial Accounting Standards Board (FASB) today published a proposed Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions.

  • accounting and auditing
  • federal tax

PEEC seeks feedback on proposed changes to the Code of Professional Conduct

March 15, 2023

The AICPA Professional Ethics Executive Committee (PEEC) released for public comment two exposure drafts to align the Code of Professional Conduct with international standards and to clarify members' ethical responsibilities when allowable collaboration for CPE crosses the line into cheating.

  • business and industry
  • practice management

SEC proposals target cybersecurity

March 15, 2023

The SEC set its focus on cybersecurity on Wednesday, proposing new rules and expanding the scope of existing rules.

  • technology and cybersecurity

Accountants Have to Go to College for Five Years. Some Are Rethinking That.

March 14, 2023

Accounting, a profession focused on numbers, is vexed by this one: the 150 college credit hours required to become a certified public accountant.

  • accounting and auditing

DCP Nomination Advances After Confirmation Hearing ‘Love-Fest’

March 14, 2023

After a lengthy hearing referred to by one lawmaker as a “love-fest,” the Executive and Legislative Nominations Committee voted Tuesday to approve Bryan Cafferelli’s nomination to serve as Connecticut’s next consumer protection commissioner.

  • advocacy - state

Tax pros need to give ERC claims the 'sniff test'

March 14, 2023

Since its inception, the Employee Retention Credit has been both a boon to employers and a cautionary risk for preparers.

  • coronavirus
  • practice management
  • state tax
  • federal tax

Cybersecurity for CPAs: Delayed reactions

March 13, 2023

As accounting firms are increasingly targeted for cyber attacks, cybersecurity has become essential for any professional. Between data breaches, phishing attacks and malware, criminals are increasingly going after the sensitive financial data held by accountants. The modern accountant, then, must take their cyber defenses seriously for the sake of themselves and their clients.

  • practice management
  • technology and cybersecurity

Worried accountants losing sleep over workload

March 13, 2023

Exasperated practitoners are being kept awake at night due to work pressures, according to a recent survey from AVN.

  • practice management

Werfel begins work as 50th IRS Commissioner

March 09, 2023

Danny Werfel began work today as the 50th commissioner of the Internal Revenue Service.

  • federal tax

Restoring Exam credits expired during COVID would help address CPA shortage

March 08, 2023

The accounting profession is confronted with a talent shortage, and reinstating CPA exam credits that have expired since January 1, 2020, could have an immediate impact on our CPA pipeline.

  • career resources
  • advocacy - federal

CFO Cybersecurity Strategies: How to Protect Against the Rising Storm

March 07, 2023

With cyberattacks becoming more frequent, now is the time for CFOs to shore up their cybersecurity programs and strategies.

  • business and industry
  • technology and cybersecurity