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These audits are essential to ensure that integration processes are executed correctly, risks are identified and mitigated, and controls are in place to safeguard the organization's assets and financial reporting.
October 15 th ended the last major income tax due dates in 2023. Most CPAs use the fourth quarter of the year for audit and tax planning for clients, strategic planning for the firm and of course, CPE. (Look out for our December webinar for an additional CPE credit!) As you are contemplating your clients’ needs and identifying tax planning for them, don’t forget about sales tax planning as well.
Virtual cards are a game-changer for accounts payable departments. They’re an efficient solution for any business looking to streamline their expense management and procurement processes. In addition to greater control, security, and flexibility, virtual card payments can save finance teams hours of tedious work. David Coffman, VP Finance at Doximity, says Airbase virtual cards play an integral role in cutting the company’s time-to-close in half.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
Officials from the IRS's Criminal Investigation division met with tax officials from four other countries to uncover tax evasion and money laundering schemes through data mining.
Explore Other Episodes #CivicWarriors #WithumImpact The post Alzheimer’s & Caregiver’s Awareness With the Alzheimer’s Association appeared first on Withum.
Attorney General Letitia James says Uber from 2014 to 2017 improperly deducted sales tax and other fees from driver paychecks that should have been paid by passengers.
Attorney General Letitia James says Uber from 2014 to 2017 improperly deducted sales tax and other fees from driver paychecks that should have been paid by passengers.
By Diana Crawford, CPA. One of the topics the minds of many tax and accounting professionals is the environment. ESG, as the movement is known, includes the aspects considered when companies invest in environmental, social, and corporate governance policies. Legislation is playing a role in this. The Inflation Reduction Act of 2022 (Act) was visioned to encourage clean energy solutions, manufacturing, and innovation.
Withum is pleased to share that it has successfully completed a System and Organization Control (SOC) 2 Type 1 examination in accordance with the standards set forth by the Association of International Certified Professional Accountants (AICPA). The SOC 2 Type 1 report deems Withum’s design of internal controls in its systems in line with the AICPA Trust Service Criteria.
When it comes to compliance with government regulations, navigating the intricacies and nuances of DCAA accounting is essential for any government contractor. DCAA stands for Defense Contract Audit Agency, a branch of the Department of Defense that is tasked with auditing and evaluating proposal and contract costs for the government.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Jump to: What does SAS 145 address? 9 steps to apply SAS 145 Managing SAS 145 compliance What does SAS 145 address? At a high level, SAS 145 addresses a company’s system of internal control and information technology. It also revises the definition of significant risk so that auditors will be focused on where the risks lie on a spectrum of inherent risk.
Thomson Reuters, a global content and technology company, today announced updates on its multi-year global investment strategy in generative artificial intelligence. These include integrating generative AI skills through product, Westlaw Precision.
As people plan for retirement, they rarely take into consideration the tax implications. What taxpayers may not realize is that the amount of retirement income that goes toward taxes can considerably lower the funds available to sustain the type of life they imagined for themselves. This is where offering your assistance as a Certified Tax Planner can be invaluable.
What Is Section 6417? 2023 has been an exciting year for clean energy investments as more guidance has been issued surrounding the Inflation Reduction Act (IRA). One of the most anticipated new provisions of the IRA is Internal Revenue Code Section 6417 , known as the elective pay regime. This allows non-profits and certain governmental entities to receive credits in the form of cash payment rather than as nonrefundable credits.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Intuit Inc. will be closing down Mint, its personal financial management app it acquired in 2009, starting in 2024. Intuit has stated that it will encourage a shift of these users to the similar Credit Karma, which Intuit acquired in 2020. Both systems offer similar features for tracking credit scores, spending, and income, and are often ad supported with credit offers based on anonymized user financial data.
The Institute of Chartered Accountants in England and Wales has written about the talent shortage , more specifically how accounting firms can retain talent in a world where sticking it out until partner is no longer something staff are interested in doing. For “Broader career paths attract accountancy talent” ICAEW spoke to Michael Smets, Professor of Management at University of Oxford’s Saïd Business School , an expert of sorts who’s dedicated two decades of his life to obser
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
Accounts payable is a foundational function that ensures organizations maintain accurate invoices, payments, and vendor relationships, while making bill payments on time. However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges. Without proper oversight and regular checks, accounts payable can turn into a source of financial complexity and risk.
Edge Marketing, Inc. (formerly Edge Legal Marketing and Accounting Edge Marketing), a Minneapolis-based public relations and marketing firm serving the needs of organizations in the legal and accounting industries, has been named a gold winner in two categories of the prestigious MarCom Awards. The agency was named a gold winner for a company launch publicity campaign in the categories of strategic communications, media relations and publicity campaign.
As an accounting leader, you constantly make decisions that affect your organization’s growth. To make the best possible decisions, you need access to the latest information and insights from experts.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
As an investor, you’re probably ware that you can benefit from a favorable tax rate on long-term capital gains. Depending on your situation, you may qualify for a maximum 15%, pretty good in most people’s books. But you might be able to do even better. Believe it or not, some or all of your capital gain may be taxed at a zero percent rate! That’s not a misprint.
In this digital age, efficient payroll processes are not just about cutting checks; they are a strategic tool that can drive business growth. Payroll management is a driver of client satisfaction for staffing businesses due to its direct impact on worker retention, efficiency of temporary workforce management, accuracy of employee benefits and deductions, financial stability and more.
The accounting industry has been changing rapidly—and there are a number of factors at play that are causing those changes. Firms that want to succeed will have to quickly adapt to this moving landscape by adopting new strategies. Our new ebook “The Accounting Firm’s Guide to Preparing for the Tech Stack of the Future” discusses what these changes are, how they are affecting your firm, and what your firm can do to successfully adapt.
Call them worthless bureaucrats if you must but the US Government Accountability Office (GAO) just made a bunch of friends in the crypto space this week with its decision on Staff Accounting Bulletin No. 121 issued by the SEC in March of last year. Without getting too deep into it, said bulletin provided interpretive guidance on how covered entities should account for and disclose their custodial obligations to safeguard cryptoassets held for their platform users.
Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.
The Texas Society of CPAs is collaborating with the American Institute of CPAs and other state CPA societies throughout the U.S. for a unique career awareness event aimed at inspiring and educating students about career opportunities in accounting. Accounting Opportunities Month will bring Certified Public Accountants into middle school, high school and college classrooms to share their career journeys, debunk common myths, and provide valuable insights into the accounting profession.
Menzies LLP - A leading chartered accountancy firm. This article explores 4 common challenges and discusses practical suggestions for how these might be navigated. The ultimate result can be valuable savings in time and money, allowing greater focus on strategic growth. Challenge No. 1 – Property valuation & EBITDA The single most important asset to any hotel business is its property.
Xero, the global small business platform, released new findings as part of its Xero Small Business Insights (XSBI) program, which aggregates and anonymizes data from tens of thousands of Xero small business subscribers in North America.
Menzies LLP - A leading chartered accountancy firm. Menzies’ Scott Bright has a unique insight into businesses operating in the evolving Transport and Logistics sector, which is having to respond to changing market pressures. In this article Scott throws light on some of the common financial reporting challenges business owners face as well as some strategies for improving decision making.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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