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The Accountant Shortage is a Material Weakness Now

Going Concern

WSJ: The widening shortage of accountants has begun showing up in financial statements. We have engaged a leading public accounting firm to support this work. We are also actively developing and implementing a comprehensive remediation plan.

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Friday Footnotes: Ex-CPA Leaves Clients in the Lurch Before Tax Day; EY Layoffs; More ERC Concerns | 4.12.24

Going Concern

We broke that record in 2023. This situation worsened in 2023,” says the report, which was tabled in council in March. Accounting jobs are in high demand—many pay over $100,000 and can be done from home [ CNBC ] Didn’t they write this same article a few months ago? We set a record in 2022.

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Your Firm and Your AI Future

CPA Practice

As we enter 2024, it’s natural to wonder what the future holds for this transformative emerging technology, especially for accountants. Source: [link] Enhanced Financial Reporting and Auditing : AI will improve financial reporting and auditing processes. A Top Technology Initiative Article – Dec.

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Friday Footnotes: For the Last Time, Salaries Are Too Low; NOCLAR Is Back; Big 4 Beat Up Again | 3.1.24

Going Concern

Meanwhile, the audit side is under increased regulatory pressure because of perceived lapses in audit quality at accounting firms of all sizes. Last year, the median salary for full-time entry-level accounting jobs was roughly $62,500, up from about $50,000 in 2020, according to Handshake data.

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Friday Footnotes: EY Can’t Hire Tech; John Doe Sues the PCAOB; Auditors Can’t Find Torpedoes and Missiles | 1.20.03

Going Concern

Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves.

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Accounting Automation: The Definitive 2023 Guide

Ryan Lazanis

This is my complete guide to accounting automation in 2023. So if you want to: Learn the 8 benefits of automated accounting. Save time by automating your accounting processes. Automate all 15 areas of your accounting. How to Automate Your Accounting in 15 Key Areas. Cloud accounting software (ie.

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Friday Footnotes: AI Trash Talks Big 4 Firms, Academics Apologize; EY Partner Took $700k in Naughty Money | 11.3.23

Going Concern

How will AI affect accounting jobs? Thomson Reuters ] While 51% of accounting professionals believe that ChatGPT and generative AI should be applied to tax, accounting, and audit work, opinions are divided about the usefulness of AI tools. Aspects of Proposed Accounting Standards Update (ASU) No.