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Monday Morning Accounting News Brief: EY Embarrasses Itself (Again); Archaic IRS Tech; Partners Battle It Out | 2.27.23

Going Concern

The Big 4 Accounting firm announced the independent review following the tragic death of EY worker Aishwarya Venkatachalam, 27, who fell to her death from the 11th floor of the company’s Sydney office in August last year. Go forth and account. From FloQast : Six in ten (63%) U.K. From FloQast : Six in ten (63%) U.K.

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What's new in May for state sales and use taxes

TaxConnex

Despite all good intentions of municipal representatives of both parties, replacing the revenue that would be lost with a sales tax exemption on groceries has been plagued with what one city finance director called “choice overload.”. It claimed that these services were exempt as accounting services and as customization of software.

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4 Key Pieces of Your Sales Tax Compliance Process

TaxConnex

These states’ returns can be quite lengthy as you may be required to itemize by county or city or district how the sales tax should be applied across these various jurisdictions. In a few states, most notably Alabama, Colorado, and Louisiana, there are separate local level returns that you are required to file.

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Friday Footnotes: Looking Elsewhere For Talent; MPs Talk Private Equity Concerns; The Burnout Queen | 8.25.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.