ThomsonReuters

DECEMBER 8, 2023

How AI is transforming audit Traditionally, auditors have heavily relied on manual processes to uncover risk in financial statements and business operations. This allows auditors to focus on more complex and strategic aspects of their work, such as interpreting results and providing experience-based insights to clients.

audit 98

audit auditor financial statements Technology 98

ThomsonReuters

OCTOBER 31, 2023

Jump to: How is AI affecting accounting? Is AI replacing accounting jobs? What is AI automating in accounting? Can AI do accounting? How to use AI to innovate Artificial intelligence (AI) is making its presence felt across many industries—and the accounting profession is no exception.

accounting jobs 52

accounting jobs accountant jobs accounts jobs Account 52

CPA Practice

DECEMBER 19, 2023

Accounting and finance professionals are always on the lookout for tools that can help them become more efficient, productive and accurate in their work. Of course, to stay in demand, finance and accounting pros will need to ensure that they maintain relevant skills, especially when it comes to working with generative AI.

accounting and finance 121

accounting and finance Finance Account accountant 121

Going Concern

DECEMBER 19, 2023

445 professional staff — 93 percent auditors and seven percent tax and advisory — participated in answer sharing during mandatory, open-book internal training assessments between 2016 and 2020. That changed on November 21, 2019 when assurance staff were told via webinar to “complete assessments independently.”

auditor 102

auditor audit CPA Government 102

Airbase

DECEMBER 6, 2023

“The biggest thing for me is I need to have controls, but I also want employees to have an enjoyable experience,” Doximity’s Senior Director of Accounting, Alexander Schlick, told Airbase’s VP of Marketing, Michael Freeman. Our auditors have said Airbase is one of the best tools that they work with,” said Alex. Benefits and results.

NetSuite 130

NetSuite NetSuite Integration accounting and finance AP Automation 130

Going Concern

OCTOBER 31, 2022

The story is behind a paywall but Law.com says that during a recent Law.com webinar, EY global law leader Cornelius Grossmann said a new EY company, split from its audit business, would focus on largescale clients and projects that are multidisciplinary in nature, with legal services being a key—but not dominant—component. It has to work.”

Account 99

Account accountant accounted audit 99

Cherry Bekaert

AUGUST 9, 2023

In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the Firm’s GovCon practice who spent 13+ years with the DCAA and held various positions such as Quality Manager, Supervisory Auditor, Field Audit Office (..)

audit 97

audit auditor Government public accounting 97

ThomsonReuters

MAY 2, 2023

Specifically, we’ll look at the need for auditors to maintain professional skepticism and document their work thoroughly to improve audit effectiveness and efficiency. In other words, how did the auditor identify a risk of material misstatement? Other controls based on auditor judgment.

audit 52

audit auditor financial statements Account 52

ThomsonReuters

MAY 10, 2023

Clarifying audit scope SAS 145 defines significant class of transactions, account balance, or disclosure, which is important for firms as it helps to clarify scope and improve efficiencies. Although the term significant class of transactions, account balance, or disclosure is not new, it was not previously defined.

audit 52

audit auditor Account accountant 52

ThomsonReuters

MAY 17, 2023

As we complete our examination of the impacts of SAS 145 for tax and accounting professionals, we’ll build on our previous posts on risk assessment , documentation and analysis , and balancing scope and complexity in auditing. In this last post, we’ll look at risks that can arise from the use of IT in accounting and auditing.

auditor 52

auditor audit Technology Tax 52

ThomsonReuters

MARCH 20, 2024

These issues and more were discussed by tax and trade experts in a recent webinar hosted by Thomson Reuters “ Empowering retailers to thrive and modernize tax management in an omnichannel landscape.” Auditors typically request data encompassing several years, Davis notes, but large retailers may be processing millions of transactions per day.

Retail 52

Retail Tax Technology auditor 52

ThomsonReuters

APRIL 24, 2023

The significance is not taken lightly among auditors, who understand the importance of their role in providing reasonable assurance about whether a company’s financial statements are free of material misstatement. Let’s begin with a closer look at some of the changes within SAS 145.

auditor 59

auditor audit financial statements Tax 59

Going Concern

MAY 5, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. The gap widens again at the upper levels. Pajamas forever!

audit 106

audit cpas auditor Mississippi 106

ThomsonReuters

JANUARY 20, 2022

Sometimes, a plan instructs us to send claims information, which includes protected health information (PHI), to another business associate of the plan, such as a claims auditor or a medical reviewer. Both the PBM and the claims auditor have business associate contracts with the plan. Contributing Editors: EBIA Staff.

auditor 52

auditor audit Tax Account 52

Withum

MAY 21, 2024

An example of this is when Silicon Valley Bank failed, and I was able to “teach” the real meaning and application of Fair Value accounting, which is usually a hard concept for students and, as I have shown, even for experienced auditors to understand. Buy it, read it and enjoy it!

financial statements 59

financial statements audit auditor public accounting 59

ThomsonReuters

MARCH 19, 2024

To mitigate these concerns, forward-looking accountants are relying on AI-powered tax research solutions that are grounded in data from trusted experts and reliable sources, as opposed to public options that pull information from across the internet. Clearly, this is an unacceptable risk for tax and accounting professionals.

Tax 52

Tax Technology Education auditor 52

Going Concern

FEBRUARY 9, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. My buddy from undergrad works office security at one of the Big 4 accounting firms in Midtown.

Technology 85

Technology Colorado audit cpa firm 85

CPA Practice

SEPTEMBER 26, 2023

FloQast , a provider of accounting workflow automation software created by accountants for accountants, has announced several new additions to its cloud-native Accounting Operations Platform, which enables customers to streamline and manage the Financial Close, Finance and Accounting Operations, and Compliance Programs.

Entertainment 40

Entertainment accounting and finance audit Technology 40

CPA Practice

SEPTEMBER 14, 2023

FloQast , a provider of accounting workflow automation software created by accountants for accountants, has announced several new additions to its cloud-native Accounting Operations Platform, which enables customers to streamline and manage the Financial Close, Finance and Accounting Operations, and Compliance Programs.

Entertainment 40

Entertainment accounting and finance audit Technology 40

CPA Practice

JULY 27, 2023

How can AI make you a more effective and efficient accountant? Likewise, if you have an active CAS (Client Accounting Services) practice, consider what AI could do for you and your clients in this area. What’s a strategy to get that job done? Auditing : Audit engagements require meticulous planning, execution, and review.

Technology 98

Technology audit Education accounting and finance 98

ThomsonReuters

NOVEMBER 16, 2023

For tax departments, complying with CTC regulations means transitioning away from the traditional, post-audit method of tax reporting, in which auditors collect, compile, and report transaction information in batches, long after the transactions have taken place.

Tax 59

Tax Technology AP Automation accounts payable 59

ThomsonReuters

AUGUST 24, 2021

Watch our free on-demand webinar, Building a business case for indirect tax automation. 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.

Technology 52

Technology Sales Tax audit 52

Going Concern

DECEMBER 11, 2023

Business travel remains PwC UK’s single-largest source of carbon pollution, with flying accounting for more than two-thirds of the firm’s emissions in 2022. As a result, the accounting industry grows, but touted benefits for markets and corporate stakeholders appear elusive. Navarro-Velez joined the department at UNLV in 2019.

auditor 102

auditor Account accountant accounted 102

Cherry Bekaert

MAY 9, 2024

A: An independent third-party auditor typically conducts an overhead rate audit. The auditor should be a qualified accounting professional who is experienced in auditing overhead rates and familiar with the intricacies of A&E accounting. Q: Who conducts an overhead rate audit?

audit 115

audit auditor Transportation Government 115

CPA Practice

OCTOBER 12, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the latest trends in generative AI, and their impact on accounting firms. Lots of people are talking about it, lots of webinars and so forth. They have, you know, just a bit as well as tax and accounting that they work with. Use the podcast player below to listen.

Technology 111

Technology quickbooks accounting and finance Legal 111

CPA Practice

MARCH 9, 2023

The rapid and continued pursuit of data and technology enablement, across all industries and organization types, has intensified competition for technology-capable talent along with the need to upskill or retrain internal auditors. Protiviti will host a complimentary one-hour webinar on April 11, 2023, at 1:00 p.m.

audit 52

audit Technology auditor accounting firms 52

Going Concern

APRIL 22, 2022

In honor of the one day a year we recognize the detrimental impact humans have on our home rock, we’re including a couple relevant links on performative environmentalism as it relates to the accounting industry and financial reporting below. This is an accounting firm, not a drive-thru. Thought tax season was over?

audit 52

audit Michigan Non-Profits auditor 52