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Monday Morning Accounting News Brief: Capping Busy Season Hours FTW; Open the Books on Audit Firms? | 4.15.24

Going Concern

In response, the Public Company Accounting Oversight Board has drafted a rule that the accounting firms can have public trust or private financials—but they can’t have both. Public accounting firms operate in a unique space in our society. Regulations need to change to match. Right now, they don’t.

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What exactly is indirect tax?

ThomsonReuters

for example, does not have a federal sales tax, but taxes may be applied at the state and regional levels. States with the highest average local sales tax rates include Alabama, Louisiana, Colorado, New York, and Oklahoma.

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Monday Morning Accounting News Brief: What Do Big 4 Firms Pay These Days?; EY Gets Sued | 4.8.24

Going Concern

Business Insider analyzed the US Office of Foreign Labor Certification’s 2023 disclosure data for permanent and temporary foreign workers to find out what Big 4 firms pay. Grappling With a Dwindling Shareholder Tax Base Foreign investors, retirement accounts, and other tax-exempt entities now dominate US stock ownership.

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