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Friday Footnotes: Inside PwC Cheating; Audit Market Monopoly; AI Anxiety | 12.15.23

Going Concern

As reported by Canadian Accountant, PwC Canada has already paid Canadian and US audit regulators more than one million dollars in fines, after disclosing widespread sharing of answers by its accountants on internal training tests. Market studies would help drive improvements in the audit market, the FRC said.

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What triggers a sales tax audit and how do you reduce the risks?

ThomsonReuters

What triggers a sales tax audit and how do you reduce the risk of an audit? Almost all companies undergo a sales tax audit at some point. This sales tax audit guide can help indirect tax teams avoid common audit triggers and manage the sales tax audit as smoothly as possible.

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How Stage 1 Financial Taps Automation to Help Startups Wrangle Tax Complexity

CPA Practice

To help manage these processes, they often turn to a certified public accountant, a technology they can use in-house, or both. These processes often include accounting and CFO services, financial planning, transaction services, corporate tax compliance and, increasingly, state and local tax compliance, including sales and use tax reporting.

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Thomson Reuters Adds Generative AI to SurePrep

CPA Practice

Thomson Reuters, a global content and technology company, has added several updates to its suite of tax, accounting and audit products, it announced at its annual customer event, SYNERGY. Automating tax and audit workflows “Tax industry professionals struggle with the increased pace of regulatory change and hiring challenges.

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Bookkeeping Fundamentals for Small Business Owners

DuctTapeMarketing

 Services Online Audit. Marketing Automation. In today’s digitally forward world, small business owners need to leverage available technology as much as they can. Services Online Audit. Strategy First. Marketing Training for your team. Website Review. Local Marketing System. Professional Services Marketing.

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ICPAS SUMMIT23 Returns Offers Summer CPE and Networking Event for Accounting and Finance Professionals

CPA Practice

The Illinois CPA Society’s (ICPAS) annual educational event for accounting and finance professionals aims to help attendees navigate the future and expand their possibilities. Beyond the keynotes, innovative learning tracks will cover the areas of accounting, auditing, corporate finance, ethics, personal development, tax, and technology.

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Important Changes to R&D Deductions (Section 174) – FAQ

Shay CPA

How does this impact your tech startup? Technology Companies performing research and development (engineers, software engineers, etc.) will no longer be able to deduct 100% of their expenses starting in 2022 and for future year tax years. How about if I get audited – what do I need to provide? SHAY CPA P.C.