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Friday Footnotes: PwC Completes Its Punishment; Hybrid Work Should Stay in 2025; Deloitte Clutters Up the Dark Web | 1.3.25

Going Concern

The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices. But in recent months, local governments have been waiting longer and paying more for required financial statements. Audit firms face a unique set of challenges.

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Bet on growth through experimentation at firms

Accounting Today

Employees spend their career at a firm working to become partners, and partners have tremendous skin in the game — even linking their retirement to the long-term success of the firm. A traditional accounting firm structure is a partnership, where the timelines for returns are relatively long.

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Friday Footnotes: PwC Makes Things Harder For Firms in China; AICPA Fights Against New PCAOB Reporting Rule; Accounting < HR | 12.20.24

Going Concern

Audit AICPA asks SEC to reject PCAOB rules that pose ‘significant challenges’ [ Journal of Accountancy ] We don’t trust the AICPA so draw your own conclusions as to why they’re really against this. . Firms must invest in training, technology, and methodological tools to maintain audit quality.

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Tech Startup Accounting Insights From A Y Combinator Company

inDinero Tax Tips

People need skin in the game to incentivize them to continue working. For instance, if you expand internationally, you may have to navigate transfer pricing laws, which govern how revenue is allocated and taxed among business entities you own across different countries. Equity for founders should be subject to vesting schedules.

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Embracing AI and closed-loop automation for tax exemption certificate management

ThomsonReuters

As businesses aim for greater efficiency and accuracy, artificial intelligence (AI) is a game-changer in handling exemption certificates. Tax departments have typically dealt with ECM reactively, addressing issues only during audits. The integration of AI also improves the accuracy of tax determinations.

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Friday Footnotes: RSM Partner Says UK Gov Should Sell Off Bitcoin to Pay Debts; No KPMG Law Yet; Flat Salaries For Consultants | 1.31.25

Going Concern

EYs own experience with AI provides important lessons [ Federal News Network ] Audit DWS names EY as auditor despite funds suing firm over Wirecard scandal [ Financial Times ] Deutsche Banks asset manager DWS has named EY as its new group auditor despite taking the accounting firm to court for its involvement in the Wirecard scandal.

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IRS Slot Machine Jackpot Threshold is Going Up, Experts Say

CPA Practice

The slot reporting threshold is governed by an IRS regulation, so the change will not go into effect until the agency updates its rules. the co-chairs of the bipartisan Congressional Gaming Caucus, introduced the Shifting Limits on Thresholds (SLOT) Act to update the reporting threshold to $5,000 and index it to inflation.