ThomsonReuters

NOVEMBER 26, 2024

Jump to ↓ How GenAI empowers small accounting firms Practical steps for integrating GenAI into small firm operations Are you ready to integrate GenAI into your small accounting firm? Are you ready to integrate GenAI into your small accounting firm?

Technology

Accounting Insight

NOVEMBER 5, 2024

The IRIS Elements suite now offers three tiers: IRIS Elements Essential for smaller practices and startups, IRIS Elements Professional for mid-tier firms and, now, IRIS Elements Enterprise for firms serving complex clients. “In

accounting firms

Going Concern

JANUARY 6, 2025

Business Insider wrote up a PCAOB report that discusses culture at the top six firms: Accounting firms have been making more errors, but bosses are split on whether remote work is to blame 64% of respondents said that improving work-life balance for firm personnel improves audit quality. Remember this?

accounted

Withum

NOVEMBER 21, 2024

A well-executed year-end close process ensures that accounting records present the most accurate picture for the end user, whether it be internal management, investors or your accounting firm. This will allow the accounting team to ensure that activity has been reviewed in detail and balances fully substantiated.

accounts payable

ThomsonReuters

OCTOBER 18, 2024

Statutory reporting is a critical process for multinational corporations, involving the preparation and submission of financial statements to comply with legal obligations across various jurisdictions. Key components of statutory reports include financial statements and ESG disclosures, enhancing stakeholder trust and governance.

Non-Profits

Accounting Today

JULY 9, 2025

Accountants who grasp these behavioral dynamics are better equipped to lead businesses through the emotional and operational challenges of building stronger defenses. The modern accountant must blend technical precision with behavioral insight.

Technology

AccountingDepartment

NOVEMBER 27, 2024

What FP&A Services Look Like If company executives plan to hire an accounting firm to perform FP&A services, they may wonder what those services include. The analyst will look at the financial statements and any reports generated to determine how the company has performed. Descriptive Analysis.

financial statements

ThomsonReuters

JANUARY 23, 2025

One accountant cited in the report said: “I would like to be able to utilize [GenAI] to complete tasks that are boring or mundane, and I also think it has the capability to enhance my ability to offer more analytical tools to my clients, for example cash flow forecasting or financial statement interpretation.”

accounting firms

Going Concern

JANUARY 9, 2025

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below.

audit

Accounting Today

JUNE 16, 2025

For journal entries, firms did not consider the characteristics of potentially fraudulent journal entries when identifying and did not perform journal entry procedures. And for evaluating audit results, firms did not sufficiently evaluate whether the broker-dealer financial statements were presented fairly in accordance with GAAP.

audit

Accounting Today

JUNE 23, 2025

In late 2023, GASB issued Statement 102 , "Certain Risk Disclosures," requiring state and local governments to provide financial statement users with information about specific risks when circumstances make a government vulnerable to a heightened possibility of loss or harm. That is effective for 2025 financial statements."

accounting standards

ThomsonReuters

DECEMBER 27, 2024

Blog home With the introduction of Accounting Standards Update 2023-08, Subtopic 350-60, the landscape for accounting, audit, and assurance of cryptocurrency is evolving. What should accountants look for in cryptocurrency audit software? What is an auditors responsibility in crypto audits?

audit

Going Concern

JANUARY 3, 2025

PR Newswire ] Aprio, the 25th largest business advisory and accounting firm in the U.S., announces the strategic acquisitions of two leading accounting firms, KRD, Ltd. Two anonymous accountants and an unnamed accounting firm have challenged the Public Company Accounting Oversight Boards enforcement authority.

auditor

ThomsonReuters

OCTOBER 25, 2024

While many accounting firms find a shifting regulatory environment to be a significant challenge, forward-looking firms are harnessing the latest technology to give their firm a competitive advantage. This creates a prime opportunity for accounting firms to expand their services beyond compliance and into advisory roles.

Tax

CPA Practice

OCTOBER 29, 2024

GBQ Partners, a full-service accounting firm with over 300 professionals across multiple Ohio offices, has established itself as a trusted advisor to clients in construction and various other industries. In the past, leases were often an afterthought, especially operating leases, which were only a footnote in financial statements.

Construction

Analytix Finance & Accounting

JUNE 24, 2025

Simply put, outsourcing accounting services allows business owners to access higher-quality accounting services at a lower overall cost, which creates immediate savings that can be redirected toward growth initiatives or other business priorities. Either way, you’re only paying for what you actually use.

accounted

Going Concern

FEBRUARY 6, 2025

They said : A task force of the American Institute of CPAs Professional Ethics Executive Committee (PEEC) will seek public comment on its preliminary conclusions about revisions to independence rules related to alternative practice structures, changes driven by the increasing prevalence of private equity investment in accounting firms.

audit

Going Concern

DECEMBER 24, 2024

Average annual training hours for partners, managers, and staff of the firm, combined, across the firm and on the engagement. Average number of years worked at a public accounting firm (whether or not PCAOB-registered) by senior professionals across the firm and on the engagement. Experience of Audit Personnel.

audit

CPA Practice

JULY 7, 2025

Jason Bramwell Mergers and Acquisitions July 7, 2025  Ascend Adds Accounting Firms in New York, North Carolina Ascend has expanded its presence on the East Coast by adding two more accounting firms to its platform—Tronconi Segarra & Associates in Williamsville, NY, and BGW in Charlotte, NC—effective July 1.

cpas

Going Concern

NOVEMBER 22, 2024

Audit Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator [ Wall Street Journal ] Large accounting firms will have to submit financial statements annually to the U.S. Talent Accountants ramp up offshoring to bring down costs [ Financial Review ] We’re doomed.

auditor

Going Concern

OCTOBER 11, 2024

News AICPA moves to amend financial statement standard [ CFO Dive ] Well this is a BFD! Remaining Downtown: While others move on, an accounting firm is expanding in the Golden Triangle [ Pittsburgh Post-Gazette ] At a time when many firms are downsizing their office space, Louis Plung & Company is going against the flow.

audit

Going Concern

MARCH 21, 2025

Top Remote Tax and Accounting Candidates of the Week | March 20, 2025 Firm Watch National accounting firm to exit uptown for new Ballantyne office, training center [ Charlotte Business Journal ] CliftonLarsonAllen, one of Charlotte’s largest accounting firms, is moving its office to Ballantyne Village.

Technology

Basis 365

APRIL 21, 2025

Improved Cash Flow Management Outsourced accounting firms can help monitor cash flow, identify potential financial risks, and implement strategies to optimize your working capital.

payroll

Going Concern

JUNE 27, 2025

The watchdog found that audit teams in the Big Four firms — Deloitte, EY, KPMG and PwC — as well as BDO and Forvis Mazars were increasingly using this technology to perform risk assessments and obtain evidence.

audit

Accounting Insight

JANUARY 22, 2025

Validates AI-powered algorithms automate the financial statement review process. has revolutionized the way BDO approaches financial statement reviews, seamlessly integrated into our workflows and delivered unparalleled efficiency and accuracy. Plans to localize Validate are due to be announced in the future.

Technology

Menzies

JANUARY 7, 2025

Menzies LLP - A leading chartered accountancy firm. For assets purchased under finance leases, capital allowances do not apply and instead, companies can claim tax relief on the depreciation in the financial statements.

Tax

Shay CPA

JUNE 11, 2025

Migrating large volumes of financial and HR data increases the chance for errors and compliance missteps, especially when done under tight timelines. Strained Relationships with External Accounting Teams Workflow Overhaul. This not only slows them down but can drive up external fees. Delay in Go-to-Market Priorities Focus Siphon.

accounting and finance

Accounting Today

JULY 24, 2025

If an online shipping company can inject that much personality into something as mundane as postage, whats stopping CPA firms from doing the same? Too often, accounting firms hide behind a veil of professionalism that borders on sterile. By Michael Cohn 7h ago Practice management Who's most likely to leave your firm?

cpas

CPA Practice

DECEMBER 6, 2024

Staff report The Public Company Accounting Oversight Board (PCAOB) on Dec. 3 settled disciplinary orders sanctioningNew York-based accounting firm Raines & Fischer and three of its partnersWilliam Fischer, Brian Uhlman, andSteven Sarrelfor violating PCAOB rules and standards.

New York

Withum

JUNE 27, 2025

A relationship with an outsourced accounting service firm can alleviate this pressure and free up time to focus on moving the business forward. An outsourced accounting firm will have the resources to manage the additional reporting, process improvement and expertise needed to sustain the company’s growth.

Real Estate

Basis 365

MARCH 9, 2025

Controllers are responsible for overseeing accounting operations, ensuring financial accuracy , and maintaining compliance with financial regulations. Their primary responsibilities include: Financial reporting Preparing accurate financial statements and reports.

accounting and finance

Accounting Today

JULY 24, 2025

By Paige Hagy 2h ago Accounting IFRS gives examples of reporting climate uncertainties The examples show how companies can improve the reporting of uncertainties in their financial statements using climate-related examples as practical illustrations.

Tax

AccountingDepartment

JANUARY 29, 2025

What FP&A Services Look Like If company executives plan to hire an accounting firm to perform FP&A services, they may wonder what those services include. The analyst will look at the financial statements and any reports generated to determine how the company has performed. Descriptive Analysis.

financial statements

Going Concern

NOVEMBER 4, 2024

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. Throughout his career, Beaver’s innovations expanded and enriched the literature in the accounting field.

accounted

Accounting Today

JULY 7, 2025

In finance and accounting, accuracy and accountability are paramount. Poorly built or inadequately supervised AI agents could cause severe disruption, from misclassifying transactions to fabricating data — not only wreaking havoc on financial statements but fundamentally destroying trust.

Technology

ThomsonReuters

JULY 10, 2025

Set to take effect, in part, on December 15, 2025, the new Quality Management Standards (QMS) provide guidelines that enhance the quality of services accounting firms deliver. SQMS 1 SQMS 1 addresses the firm’s system of quality management. What are the Quality Management Standards (QMS)? 1 — December 15, 2025 SQMS No.

audit

Menzies

JULY 14, 2025

Menzies LLP - A leading chartered accountancy firm. Client’s goals and objectives Touchlight required financial statements that presented a true and fair view ahead of their first audit by a Big Four firm.

corporation tax