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The new breed of audit

TaxConnex

Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office. Fear and perception of audits are as tangible as the real examinations. Fear and loathing.

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4 questions to drive your audit firm’s evolution

ThomsonReuters

The accounting and audit profession is undergoing significant changes as a result of the rapid advancement of technology. So, then, how do audit firms evolve to make sure they are prepared for when the right technology can help them prosper? Standardization can help firms save significant time and reduce inefficiencies.

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Charting a smooth course: Avoiding common mistakes in embracing audit technology

ThomsonReuters

Charting a smooth course, either on the open seas or at your audit firm, is an exciting opportunity for explorers and tax professionals alike. Here, we will talk through some best practices when implementing new audit software solutions as well as some common pitfalls that can arise throughout the process.

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Sustaining audit innovation: How to set your firm apart

ThomsonReuters

In a rapidly changing and increasingly competitive business environment, it is essential for audit firms to stay ahead of the curve and remain competitive. What is the role of innovation in auditing? Innovation is a crucial element of any successful business, and the auditing process is no exception.

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How AI transformed the tax and accounting profession in 2023

ThomsonReuters

White Paper Expertise matters in AI-powered tax and accounting solutions Not all AI is created equal – what data is your solution learning from? Traditionally, audits involved manually reviewing financial data, which was time-consuming and prone to human error.

Tax 101
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Ensuring Climate ESG Auditing Excellence: How Your Trusted Accounting Partner Makes the Difference

Withum

Now, regulations, investors and other stakeholders want companies to prove their ESG and climate information is accurate and reliable through audits and assurance. This experience puts them at the top of most companies’ list when considering a firm to perform the third-party audit of their ESG and climate reporting.

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The value of audit certification and what it means for tax firms

ThomsonReuters

Driven by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products, companies are increasingly setting their sights on ESG-related initiatives, such as audit certification. In fact, an article by global management consulting firm McKinsey and Co.,

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