Mon.May 05, 2025

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Will AI Take Over Accounting Anytime Soon?

Ryan Lazanis

I’m sure you’ve heard this question before. With more accounting firms relying on artificial intelligence than ever, will it replace […] The post Will AI Take Over Accounting Anytime Soon? appeared first on Future Firm.

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DOGE downsizing, IRS commissioner switch complicate tax season

Accounting Today

The IRS continued layoffs, changed its acting commissioner, and ended its Direct File program as Tax Day arrived.

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How Technology Powers Continuous Innovation for CAS Practices

CPA Practice

Clients are increasingly looking beyond traditional accounting services and instead want strategic partners capable of providing real-time financial insights and proactive guidance.

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Key Financial Statement Audit Preparation Tips for First-Time Audits

Withum

While the SEC does not mandate that private companies conduct financial audits, many voluntarily opt for an audit to bring credibility and transparency to their financials, whether to meet investor expectations, fulfill loan requirements, secure future funding, satisfy regulatory requirements or prepare for a potential sale. Regardless, a financial statement audit is crucial both to management and to applicable external users of the financial statements.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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.

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Eide Bailly Adds Hamilton Tharp in California

CPA Practice

Eide Bailly has acquired Solana Beach, CA-based Hamilton Tharpthe third M&A deal the top 20 accounting firm has made in the past week.

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Art of Accounting: The most important issue facing the profession

Accounting Today

Staff recruitment, training, retention and work conditions are a neglected area and should be the top area of concern.

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Beyond rainmakers: The new face of business development

Accounting Today

Bringing in new clients is rapidly becoming a team sport at accounting firms.

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Overview of the AICPA Startup Accelerator – The Accounting Technology Lab Podcast – May 2025

CPA Practice

In the latest Accounting Tech Lab, Randy Johnston and Brian Tankersley, CPA, discuss the AICPA Startup Accelerator. Watch the video, listen to the audio, or read the transcript.

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KPMG rolls out tool to model tariff impacts

Accounting Today

Big Four firm KPMG announced its new Tariff Modeler solution, made to help users prepare for and respond to ongoing trade policy changes. It also announced a minority equity investment in Llamadex.

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S Corporation Overview and Compliance

Dent Moses

Advantages of an S Corporation An S corporation offers several key advantages for small and closely held businesses. One of the most notable is pass-through taxation, which allows income, deductions, and credits to flow through to the shareholders personal tax returns, avoiding the double taxation faced by traditional C corporations. Other key benefits include: – Limited Liability Protection Shareholders personal assets are generally shielded from business liabilities. – Tax Efficie

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

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Poll: People trust AI less, but use AI more

Accounting Today

People trust AI tools less and are more worried about their negative impacts than they did two years ago but, despite this, their use has been growing steadily, as many feel the benefits still outweigh the risks.

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Monday Morning Accounting News Brief: EY in the Middle of Some City Drama; AI Takes the Entry-Level Work, Spares the Rich Guys | 5.5.25

Going Concern

Hey. I have some news for you. Let’s lead with a couple AI stories I saw over the weekend. Futurism drifts into The Onion territory with Top Venture Capitalist Says AI Will Replace Pretty Much All Jobs Except His, Which Relies on His Unique Genius The future is a world of jobless workers except for the enlightened philosopher-kings of venture capital, that is.

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PCAOB wants examples of CAMs

Accounting Today

The Public Company Accounting Oversight Board's Investor Advisory Group is asking for examples of critical audit matters or key audit matters for analysis.

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Tax Legislative Timeline Taking Shape

Insightful Accountant

Tax practitioners should prepare for significant developments as the House Ways and Means Committee's markup of the tax title in the reconciliation bill approaches.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

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.

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Eide Bailly merges in Hamilton Tharp

Accounting Today

The Top 25 Firm is expanding its presence in Southern California with its third M&A deal in a week.

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Sensiba Acquires Australia-Based Cyber Audit Firm AssuranceLab

CPA Practice

The top 75 firm has acquired AssuranceLab Pty. Ltd., a cybersecurity audit and risk assurancefirm headquartered in Sidney, Australia, with additional offices in Austin, Texas, and Dublin, Ireland.

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QuickBooks 'Resolution Center' Keeps You Abreast of Support Calls

Insightful Accountant

New QuickBooks Online 'Resolution Center' provides the status of all your recent support cases.

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IRS reduced workforce 11% so far

Accounting Today

More than 11,400 IRS employees have either received termination notices as probationary employees or voluntarily resigned, according to a new report.

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8 Pillars of Leadership Development

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.

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IRS Has Slashed 11% of Its Workforce as of March, TIGTA Says

CPA Practice

A new report from the Treasury Inspector General for Tax Administration provides an update on the IRSs efforts to reduce its workforce, and it also provides a snapshot of IRS business units impacted.

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Layoff Watch ’25: PwC ‘Aligns the Firm For the Future’ By Axing 1500 People

Going Concern

A tipster sent this in earlier today: More PwC News today. Mass layoffs across tax, assurance, and audit. They then linked this post in r/PwC: Getting Laid Off? by u/Significant-Metal-85 in PwC It is definitely confirmed as multiple outlets have reported PwC will be laying off about 1,500 people. Someone also shared the text of an email from Assurance head Deanna Byrne to her people: Team, I want to take a moment to speak with you directly and transparently about a very difficult decision weve m

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Fewer Employees Plan to Bolt From Their Job in Early 2025, Survey Finds

CPA Practice

A new survey from Robert Half has revealed that job satisfaction is on the rise, with only 29% of professionals planning to look for a new job in the first six months of 2025, down from 35% inJuly 2024.

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Trump Wants Tax Deduction for Interest on Loans to Buy U.S.-Made Cars. Can it Happen?

CPA Practice

TheWhite Househasnt provided any details of how the tax break would work, but the president touted it during the 2024 campaign and reiterated his support last month.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

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.

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Trump’s Attack on Harvard’s Tax-Exempt Status Could Be a Problem for the IRS

CPA Practice

Experts say theIRSwould face an uphill climb if it decided to move ahead against Harvard. And that fight could potentially take years.

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Trump Asks Supreme Court for DOGE Access to Social Security Data

CPA Practice

The Trump administration is challenging a federal trial judges order blocking DOGE from having full access to personally identifiable information in the Social Security Administration database.

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