ThomsonReuters

FEBRUARY 22, 2024

So, what are the key aspects of AI that are likely to affect the world of corporate tax? Unlike with traditional computing, there’s no need for the software to be given specific instructions for every aspect of a task because it learns what to do. Blog Find out how corporate tax departments can implement AI.

corporation tax 93

corporation tax Tax Technology audit 93

ThomsonReuters

MARCH 20, 2024

When it comes to Single Audits of local governments, nonprofits, school districts, and HUD engagements, auditors must navigate through a complex set of rules that are constantly changing. These challenges compound quickly as the volume of audits increases. However, there is an answer: audit automation.

audit 52

audit auditor cpas financial statements 52

ThomsonReuters

APRIL 19, 2023

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.

audit 105

audit Technology auditor Start-ups 105

ThomsonReuters

JUNE 28, 2023

Let’s take a look at some best practices accounting firms can use to help clients overcome the challenges of ESG data collection and management. What are the challenges of ESG data collection? What are the best practices for ESG data management? What are the best practices for ESG data management?

Tax 98

Tax auditor audit Technology 98

ThomsonReuters

APRIL 2, 2024

In this blog, we will overview the details of the investigation, the implications for Ohtani and the Dodgers, and the broader impact on the world of professional sports. million from Ohtani’s bank account. million from Ohtani’s bank account.

Gambling 105

Gambling Sports Legal Tax 105

Xero

AUGUST 29, 2023

This guest blog post was written by the team at financial management app, Expensify. What your employees are expected to do with that receipt kicks off almost everything that follows in your expense management process. Finding the right balance between automation and compliance in any business process can be challenging.

Approval Workflows 84

Approval Workflows general ledger audit Expense Management 84

Withum

SEPTEMBER 8, 2022

Audited financial statements are a cornerstone of the financial markets. Tonight I will conduct my second Auditing class session of this semester at Fairleigh Dickinson University, and I will be teaching what the auditor’s opinion means and what auditors do to arrive at their opinion.

accounting principles 119

accounting principles auditor audit financial statements 119

ThomsonReuters

JUNE 6, 2022

When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?

accounting standards 142

accounting standards Account accountant accounted 142

ThomsonReuters

JUNE 28, 2023

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.

audit 98

audit Technology auditor Start-ups 98

ThomsonReuters

MAY 10, 2023

The AICPA’s Auditing Standards Board has issued SAS 145 to provide additional guidance on a number of audit-related topics. The first blog in this series focused on the new guidance around risk assessment under SAS 145 , and the second on improved documentation and skeptical analysis.

audit 52

audit auditor Account accountant 52

ThomsonReuters

JUNE 15, 2023

Increased focus on ESG There are a number of issues and challenges around ESG that tax and accounting firms need to consider. How is the growing focus on ESG affecting the audit profession? As an area that is still developing, and – from an audit and accounting standpoint – still in its infancy, it can feel a bit like the Wild West.

audit 96

audit auditor Education Tax 96

ThomsonReuters

OCTOBER 4, 2023

Jump to: How many accounting firms use AI? How do smaller accounting firms use AI? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. How many accounting firms use AI? How do the Big 4 use artificial intelligence? For now, not many.

accounting firms 111

accounting firms Account accountant accounted 111

Going Concern

AUGUST 8, 2023

Edward Ketz, Associate Professor of Accounting at Penn State. In the first, he explains why he is quitting the American Accounting Association (AAA). ” The AAA chose not to publish it in Accounting Education News and so we are instead. Edward Ketz Written for Accounting Education News , not published.

auditor 91

auditor Account accountant accounted 91

ThomsonReuters

NOVEMBER 29, 2023

This, in turn, puts tax departments at greater risk for even more audits and stiffer penalties. During the webinar, panelists discussed ways to reduce risk, avoid audits and potential penalties, and explore solutions to the challenges ahead. Automation is also considered an essential part of improving processes and productivity.

audit 98

audit Technology Tax corporation tax 98

ThomsonReuters

JUNE 9, 2023

In today’s rapidly changing business environment, firms need to stay on top of their audit compliance. In this blog post, we’ll provide some tips on how to ensure your firm is audit compliant and up to date with the latest industry changes. How do you ensure audit compliance? compatible.

audit 98

audit Non-Profits Technology auditor 98

ThomsonReuters

JULY 6, 2023

If you’re a tax and accounting professional, you’ve likely found yourself answering numerous questions related to your clients’ tax returns. That’s why many accountants are embracing the profitable shift to tax advisory services. That’s why many accountants are embracing the profitable shift to tax advisory services.

Tax 98

Tax tax return income tax audit 98

ThomsonReuters

JULY 25, 2023

Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be. And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. –

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

JULY 25, 2023

For today’s accounting firms, advanced technology is no longer an option but a necessity. The most successful accounting firms are making the investment today to optimize growth tomorrow. Let’s take a look at how AI is transforming the way accountants work and why it will help shape the future of the profession.

Technology 98

Technology Tax audit accounting firms 98

CPA Practice

OCTOBER 31, 2023

This article first appeared on the Thomson Reuters blog. What’s the goal you’re trying to achieve, and how does the A.I. Consider having an outside vendor help audit the tool before and after implementation, to monitor for and correct for any potential disparate impact on protected groups. Used with permission.

Legal 116

Legal audit payroll Technology 116

ThomsonReuters

JANUARY 24, 2023

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.,

audit 59

audit auditor Tax accounting firms 59

DuctTapeMarketing

JULY 14, 2018

 Services Online Audit. Cloud-based accounting software can provide a whole suite of tools to help business owners get ahead. Handle payments and manage accounts payable. Delegate what you can. And focus on what they do best. Strategy First. Marketing Training for your team. Website Review. A la carte SEO.

bookkeeping 238

bookkeeping accounting and finance accounting software bookkeeping services 238

ThomsonReuters

DECEMBER 19, 2023

Jump to: What are green taxes? Current ESG tax credits and initiatives What are the benefits of an ESG tax strategy? Accountants play a critical role in helping their clients navigate ESG tax credits and green taxes. What are green taxes? How are environmental taxes calculated?

Tax 52

Tax Account accountant accounted 52

inDinero Tax Tips

NOVEMBER 4, 2021

Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. However, most businesses are unprepared and need IRS tax audit help. Having proper documentation of all your income and expenses is the easiest way to pass an audit. What is an Audit?

audit 98

audit Tax tax return tax preparation 98

Going Concern

FEBRUARY 12, 2024

EY piled more than $700mn of extra debt on to its global operating business to deal with the costs of the failed plan to spin off its consulting arm, according to newly filed accounts. Between a wave of retirees and a drop in the number of people graduating with accounting degrees, the whole profession is struggling to staff up. “We

auditor 70

auditor Account accountant accounted 70

Menzies

FEBRUARY 22, 2023

Menzies LLP - A leading chartered accountancy firm. HONOR, AUDIT SENIOR I graduated from the University of Portsmouth in 2020 after achieving a First in Accounting with Finance. What stood out to you about Menzies? If I am not working on an audit this is usually due to studying at our training provider.

audit 52

audit chartered accountant accounting and finance accounting firms 52

ThomsonReuters

APRIL 13, 2023

These two words can strike fear in the hearts of your tax and accounting clients: IRS audit. Understanding how to manage client expectations and concerns and how to get through the process is an essential skill in the tax and accounting professions. Most IRS audits are not random, although that is possible.

audit 52

audit accounting firms Tax Account 52

Menzies

FEBRUARY 22, 2023

Menzies LLP - A leading chartered accountancy firm. JENSON, AUDIT JUNIOR I graduated from the University of Portsmouth in 2021 with a 2:1 in Accounting with Finance. I joined Menzies this year as an Audit Junior, after working for a different accounting firm previously. Interested in a career at Menzies?

audit 52

audit chartered accountant accounting and finance accounting firms 52

ThomsonReuters

MAY 17, 2023

As we complete our examination of the impacts of SAS 145 for tax and accounting professionals, we’ll build on our previous posts on risk assessment , documentation and analysis , and balancing scope and complexity in auditing. What is the definition of general IT controls? What are the risks of using IT?

auditor 52

auditor audit Technology Tax 52

Ryan Lazanis

APRIL 18, 2023

Artificial intelligence in accounting is currently transforming the industry. Table of Contents What is AI in Accounting? Can AI Replace Accountants? Benefits of Artificial Intelligence How is AI Used in Accounting? In fact, ChatGPT wrote the above description: Can AI Replace Accountants?

Account 96

Account accountant accounted Technology 96

ThomsonReuters

FEBRUARY 6, 2024

Jump to: When to consider an automated tax software solution Benefits of sales tax automation software What if you don’t have a complex business model? The results are tested, expected, and applied consistently and accurately – reducing the time spent managing sales and use tax, reducing audit risk, and increasing data accuracy.

Sales 98

Sales Tax audit Account 98

ThomsonReuters

MARCH 20, 2023

For tax and accounting firms, therein lies an opportunity. Further, the ability to assist clients with ESG compliance and audit can pull your firm even further ahead of the pack. But where should an accounting firm begin when it comes to ESG? Let’s start with the basics. What is ESG? What is an ESG narrative?

Tax 59

Tax Account accountant accounted 59

ThomsonReuters

JUNE 16, 2023

Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients. What are the challenges?

Account 110

Account accountant accounted Technology 110

ThomsonReuters

MARCH 8, 2024

As busy accountants, it’s easy to get stuck in survival mode. How can you build your service offerings to better serve your clients and grow your CPA firm through accountability? Accounting firms face an array of challenges, such as new technologies, increased client demands, legislative changes, and staffing constraints.

cpa firm 96

cpa firm CPA Technology Tax 96

ThomsonReuters

JULY 6, 2023

What are APIs and how do they work? What are the benefits of tax provision software? Data consistency and audit trail: For a company, tax provisioning is the most looked-at process due to its impact on the financial statements. APIs enable consistent data capture and provide an audit trail of the calculations performed.

Tax 92

Tax general ledger corporation tax audit 92

ThomsonReuters

JANUARY 20, 2023

Firms are now turning to audit talent with new skillsets to help them navigate new challenges. New paths for audit talent It isn’t news that the rise of technology caused dramatic changes in the audit profession. More than ever before, today’s audit talent needs more than technical skills.

audit 59

audit auditor Technology CPA 59

ThomsonReuters

MAY 12, 2022

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.

audit 105

audit Sales Tax auditor 105

MazumaBusinessAccounting

AUGUST 26, 2021

What Is the Hobby Loss Rule? If you try to claim your hobby as a business then it could trigger an IRS audit. For more clarification on what constitutes a business or a hobby, the IRS has put out a helpful guide you may want to read. Janet is the blogger and owner of a lifestyle blog. Purchased ad space on other blogs.

accounting and finance 98

accounting and finance Tax audit business tax 98