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Evolution of the Sales Tax Audit: Have Audits Changed with Economic Nexus?

TaxConnex

So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. Many events can ignite a sales tax audit. But have sales tax audits changed over the last few years, through the pandemic and the introduction of economic nexus in 2018?

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New Approaches to Audits Gain Ground

CPA Practice

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

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DAE Get Sick of Hearing About Accounting Firms Getting Their Data Breached?

Going Concern

Another small accounting firm has reported a data breach involving the protected health information of a whole lotta people. DA&E provided auditing services to some Aurora area hospitals. Surely the firm isn’t paying retail. The post DAE Get Sick of Hearing About Accounting Firms Getting Their Data Breached?

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Are There Conflicts of Interest Between the IRS and Accounting Firms?

CPA Practice

The question in the title of this article is one the Treasury Inspector General for Tax Administration (TIGTA) recently tried to answer for some members of Congress who asked the IRS watchdog to evaluate employees moving between large accounting firms and the IRS, often referred to as the “revolving door.”

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Monday Morning Accounting News Brief: Feds Raid PwC; Big 4 Wants to Be Like Grant Thornton!? | 11.4.24

Going Concern

Reports NL Times : The accountancy firm Ernst & Young (EY) is the latest accounting company to discover exam fraud. The fraud consisted of accountants sharing answers to mandatory tests, which is not allowed. Public trust in the auditing profession is under intense pressure. Should that be allowed?

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China Tells Its Businesses Don’t Use Big 4 Audit Firms

Going Concern

Some time last year PCAOB inspectors visited China and while details of their visit were kept somewhat quiet from both sides, we were told that the inspectors gained unprecedented access to Chinese audit work.

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Friday Footnotes: PwC Slashes Partner Class; Accounting Firm Rescues Dog; Do We Still Need CPAs? | 4.19.24

Going Concern

consulting partners by more than 50% compared with last year as demand for advisory services continues to slow and the firm reorganizes its business lines. The Big Four accounting firm is considering adding about 85 U.S. Given the gravity of these allegations,” the AFRC is “obliged to initiate an investigation,” it said.