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Monday Morning Accounting News Brief: Messing with Texas Costs EY $3 Million; CPA Says Blame Yourself, Not Your CPA | 11.13.23

Going Concern

And EY news from elsewhere: the Texas Board of Accountancy has fined EY $3 million for cheating. “The action represents the Board’s message to all Texas licensees that the Board will not tolerate any form of professional misconduct,” said TSBPA Executive Director William Treacy. Is it your accountant?

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Tax Partner Matters More Than Firm on Business Taxes

CPA Practice

When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business. Wilde’s team analyzed more than 94,000 tax returns of U.S.

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Will the tax filing deadline be extended?

ThomsonReuters

It is the question at the back of every tax practitioner’s mind this tax season – will tax season be extended? So far, we’ve only seen one instance of local filing deadline extensions in Texas, where the deadline was pushed to June 15 th due to complications resulting from severe winter storms. What about Texas?

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Friday Footnotes: CPA Says Stop ERC Fearmongering; Deloitte Cussed Out For ‘Grueling Culture’; Worst Books Ever | 2.23.24

Going Concern

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. million in related income that she and her husband had earned from 2012 through 2014.

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Spotlighting Women in Advisory Practice: Answering the call to accounting with Brittany Lanphier, CPA

ThomsonReuters

Following high school and an internship at a small business where her role included accounting work, Brittany Lanphier determined that she would definitely not study accounting in college. Dennis Lanphier, an attorney in addition to being an accountant, can handle complex tax situations.)

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Friday Footnotes: Working 100 Hours a Week (For Real); 99% of Firms Short on Staff; The EY Power Struggle | 8.4.23

Going Concern

Technology With generative AI, start with the basics, EY tells CFOs [ CFO Dive ] The best thing for CFOs today is just “take a look at their operations,” Michael Kelly, partner and management consulting consultant at Big Four accounting firm Ernst & Young said.

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Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

So as a professional in the field is doing research on a particular topic and in the course of a client engagement, they can use this tool to help them respond to those types of inquiries, or to assist in the audit process,” Will Bible, digital transformation and innovation leader, audit and assurance for Big Four accounting firm Deloitte said.

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