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Costs of non-compliance (part 2)

TaxConnex

In part 1, we looked at the mounting financial costs of maintaining sales tax compliance with the thousands of tax jurisdictions nationwide. Now let’s look at how some companies have tried to game the system – and what to do so you don’t have to run that risk. Do not collect sales tax and fail to remit it. That’s fraud.

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Unlocking efficiency: The impact of AI on tax compliance and reporting

ThomsonReuters

In the corporate tax space, just as the regulatory compliance landscape becomes more challenging and reporting requirements become more demanding, technology is advancing rapidly to crunch vast amounts of data in no time and streamline labor-intensive processes. AI is adept at supporting both.

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Discover a better work-life balance for auditors with the Cloud Audit Suite

ThomsonReuters

Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?

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Friday Footnotes: Florida Man’s Tax Problem; Accountants Are Walking Out; BDO Assures on Tether | 2.10.23

Going Concern

Talent As tax season approaches, accounting firms are short on staff [ Marketplace ] Oh hey! Audit Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record [ Bloomberg ] A $4 billion accounting shortfall would typically raise alarm bells for an auditor.

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Monday Morning Accounting News Brief: PwC Auditor Hurt; Deloitte Tops a List; EY Writes the Treasury | 8.22.22

Going Concern

PwC is being sued by a 28-year-old auditor who claims he suffered a serious head injury after attending a work event that involved an “excessive” drinking game of pub golf. The post Monday Morning Accounting News Brief: PwC Auditor Hurt; Deloitte Tops a List; EY Writes the Treasury | 8.22.22 OK, not strictly doggy daycare.

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SAS 145 offers tech-powered audits for the future

Accounting Today

This new standard changes the game for auditors to make risk assessments even more effective.

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23

Going Concern

Big 4 ‘Shadow’ culture at consulting giant PwC led to tax-leaks scandal: Ziggy Switkowski [ News.com.au ] Consulting giant PwC has been savaged in an independent review that exposed the firm’s “shadow” culture contributing to its infamous tax leaks scandal. KPMG offered video game training to some employees.

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