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Accounting Groups Call for More Competitive Pay for Government CPAs

CPA Practice

State and local governments are being squeezed by a shortage of accounting professionals, making it difficult at times to find staff CPAs who can prepare critical financial information or outside firms to conduct audits. But accountants who do government work face unique challenges that require more specialized solutions.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

Training Hours for Audit Personnel. Experience of Audit Personnel. 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. Retention of Audit Personnel (firm-level only). Allocation of Audit Hours.

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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

The report also recommends that these private firms be limited to 400 partners, and that they be prevented from offering both audit and non-audit work – like consulting services – to the same client. As with any innovation, its fragilities take time to iron out, and taxes will play only one part of governments’ approach to AI.

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So How Did Your 2024 Predictions For the Accounting Profession Work Out?

Going Concern

Beneficial owner reporting The fact that public accounting partners steer the CPA credential and do so in a way adverse to CPAs – i.e. big 4 and others would rather have a flood of CPAs with little to no barrier than increase the incentives/pay to get more CPAs The regulatory environment is driving people away from the profession.

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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. Practice Management Vision, Mission and Values: The Missing Links in Most Firms Strategic Planning [ INSIDE Public Accounting ] Small firms arent doing it.

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Here’s Why Maryland Paid the IRS $5.4 Million in Taxes

CPA Practice

million to the Internal Revenue Service after a rare IRS audit of the state found it owed millions of dollars in taxes in 2020. Samuel Handwerger, a Certified Public Accountant who teaches at the University of Maryland’s Robert H. It might be the first time the state has ever been audited,” Lierman said.

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How to Turn a Shortage of Accountants Into an Opportunity for Businesses

CPA Practice

The alarm bells in accounting have been ringing for years: fewer people want to join – or stay – in the profession. The American Institute of Certified Public Accountants (AICPA) said in its “2023 Trends” report that the percentage of accounting graduates fell 7.8% expect to leave the profession in the next 12 months.