ThomsonReuters

APRIL 19, 2023

The accounting and audit profession is undergoing significant changes as a result of the rapid advancement of technology. While some have expressed concerns that automation may replace human auditors, the reality is that technology is here to enhance the profession rather than replace it.

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audit Technology auditor Start-ups 105

ThomsonReuters

JUNE 28, 2023

To do this, auditors must leverage technology and data analytics to innovate and sustain their edge over the competition. In this article, we will explore how using data analytics and automation can help enhance the auditing process, achieve greater operational efficiency, and ultimately set your firm apart.

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audit Technology auditor Start-ups 98

ThomsonReuters

JANUARY 16, 2024

How mobile apps meet client expectations Streamlining your 1040 source document collection According to a recent survey by Protiviti and The Institute of Internal Auditors (IIA) , almost 75% of respondents, including 82% of technology audit leaders, view cybersecurity as a high-risk area, and with good reason.

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audit auditor Technology Construction 64

ThomsonReuters

JANUARY 24, 2023

This starts with solid reporting by company management and presents a significant opportunity for auditors. Why are ESG audits important? According to CAQ, auditors, especially public company auditors, are ideally positioned to enhance reliability of ESG reporting. What are the benefits of ESG specialization?

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audit auditor Tax accounting firms 59

ThomsonReuters

FEBRUARY 23, 2024

To prepare for a sales tax audit, it is important to understand what auditors are looking for and why. State auditors, for example, are usually trying to locate revenue they can recover, so they are looking for instances when taxes have either been underpaid or underreported. Think Black Friday and Cyber Monday, November and December.”

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audit Sales Tax auditor 52

ThomsonReuters

MARCH 19, 2024

To justify contesting a sales tax audit over documentation issues, Bobby says a company must first believe it has the invoice(s) or exemption certificate(s) to prove to auditors that their assessment is invalid. But suppose you bought 1,000 compressors in 2024, and you know auditors will raise the same tax issue in the future.

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audit Sales Tax auditor 52

ThomsonReuters

MARCH 20, 2024

A lot of companies are in situations of unknown unknowns,” she says, “where they don’t even realize they have nexus and they end up finding out in painful ways when auditors come knocking.” Auditors typically request data encompassing several years, Davis notes, but large retailers may be processing millions of transactions per day.

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Retail Tax Technology auditor 52

ThomsonReuters

JANUARY 12, 2023

Historically, auditors spent weeks out in the field holed up at the headquarters of the company undergoing an audit. It requires planning, and it requires a feedback loop to make sure we have processes in place that work for everyone, said Stephanie Lanke, Senior Accounting and Auditing Consultant at Thomson Reuters. .

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audit auditor Technology Account 52

ThomsonReuters

AUGUST 24, 2021

Tax engine software virtually eliminates these types of accounting errors by providing consistently accurate sales and use tax, value-added tax (VAT), and goods and services tax (GST) calculations that don’t raise red flags. The same basic approach can be taken by running GL account and purchase locations.

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Technology Sales Tax audit 52

CPA Practice

JUNE 29, 2023

Now, Brian claims that he is a recovering auditor, I don’t think you ever get audit blood out of yourself at least listening to him, that’s for sure. Because they can’t find enough Pete, they can’t find a enough accountants to do the work that needs to get done for them. Randy Johnston 00:03 Well, good day. Welcome to Technology Lab.

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