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Monday Morning Accounting News Brief: Unintended Audit Consequences; The IRS Needs Experienced Accountants; PwC AI | 9.18.23

Going Concern

This next wave of hiring will help the IRS add key talent like tax accountants to help reverse a decade-long decline of audits for the wealthy as well as complex partnerships and corporations. These new employees will be focused on higher-income and complex tax areas like partnerships, not average taxpayers making less than $400,000.”

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Friday Footnotes: Fired Accountant Spills the Dirty Laundry; Scandals of Yore; Gen AI For Good | 1.26.24

Going Concern

How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations. This allows auditors to shift attention to more complex and strategic work, like interpreting results and offering experience-based insights to clients.

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Guide to accountant responsibilities

ThomsonReuters

Working with external auditors. Examining financial documents and financial transactions to ensure compliance and rectify any discrepancies. Types of accountants and niche practice areas There are, of course, various types of accountant jobs and areas of specialty. Recording expenses and preparing financial reports.

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