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Monday Morning Accounting News Brief: BTFO PCAOB; Did the CPA Exam Evolve Without Academia? | 4.28.25

Going Concern

The proposal to eliminate the independent Public Company Accounting Oversight Board was published late on Friday by the leadership of the House Committee on Financial Services, for inclusion in the giant tax and spending bill being considered by Congress. There’s a whole bill. Well I better read it before I say more.

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In ongoing accounting crunch, where to go for sales tax help?

TaxConnex

Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant.

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State CPA Society News & Updates

CPA Practice

Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. Tennessee: The Tennessee Society of CPAs (TSCPA) recently released its Updated Fiscal Year 2021 Tennessee Tax Credit Report which provides a detailed list of all credits claimed for tax periods July 1, 2020 to June 30, 2021.

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Number of Accounting Grads Continues to Shrink

CPA Practice

post-secondary accounting degrees fell sharply in the 2021-22 academic year, according to a biennial American Institute of CPAs (AICPA) report on trends related to accounting graduation rates, the CPA Exam and hiring demand by accounting firms. Master’s degrees earned at private institutions fell 10.9%

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Beyond tax season: creating revenue stability year-round

ThomsonReuters

Tax season is a critically busy time of the year for accountants, and we all know the stress that can come with such a high demand for services during that part of the year. But for some tax and accounting firms, the high volume of clients from January to April represents the majority of their business for the year.

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The Accounting Talent Shortage is Not New, You Guys

Going Concern

A record 68,639 students graduated with accounting degrees in 2010. Nearly 4 in 10 accounting graduates hired last year by CPA firms had master’s degrees, compared with 26 percent in 2008. By contrast, 43 percent of graduates hired had bachelor’s degrees, down from 56 percent in 2008. This is a decrease of 2.8%

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Number of CPA Exam Takers Continues to Dwindle

CPA Practice

Citing the newly released AICPA and CIMA 2022 Integrated Report , the number of people who took the CPA exam in 2022 was about 67,000, down from 72,000 in 2021 and short of the AICPA’s 2022 forecast of 74,000. FT reported that was the lowest amount of CPA exam takers in at least 17 years.

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