Fri.Oct 11, 2024

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Stop Fraud Before It Starts

FraudFiles

My idea of a good time: Digging through boxes of documents for hours on end, looking for that smoking gun that proves an employee was stealing from a business. An attorney’s idea of a good time: Going to court with the expert witness who proved the employee was stealing, and burying the guilty party with [.

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Acterys Recognized as a Champion in SoftwareReviews’ 2024 EPM Quadrant Award

Acterys

Acterys has been named a Champion in the 2024 Enterprise Performance Management (EPM) Quadrant by SoftwareReviews. For the second consecutive year, Acterys has been voted into the top spot by its customers. Each year, SoftwareReviews presents the Data Quadrant Awards to top-performing software products based solely on authentic user reviews, without any paid placements or analyst opinions.

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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections, and appeals.

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Are you ready? Prepare for tax season with these essential resources for accountants

ThomsonReuters

Jump to ↓ Why tax season resources matter How to make the most of these resources Tax season success starts here Tax season is here, and with it comes the familiar rush of deadlines, complex returns, and endless questions from clients. You know the drill all too well. But what if you had a comprehensive place with tools, guides, and expertise to help you navigate the chaos and stay ahead of the curve?

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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CohnReznick is Allegedly Exploring a Private Equity Deal

Going Concern

PE Hub is reporting that according to three sources, CohnReznick is in talks with William Blair — the Patty Stanger of private equity investments — to “gauge new capital sources of investment” in the next few months. CohnReznick has $150 million of EBITDA, they said. The firm is currently sitting at #16 on the INSIDE Public Accounting Top 100 with $1,052,365,413 in revenue.

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Key Questions To Help Evaluate And Operate Your Construction Business

Randal DeHart

External factors, such as economic changes or technological advances, can significantly impact whether a business will thrive or fail. The rise of sharing and gig economy apps is an excellent example. These apps gave consumers more affordable options for daily tasks and errands and provided individuals with a new way to earn money on their schedules.

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Friday Footnotes: AICPA Gets Around to Addressing Outsourcing; Prison-Bound CEO Updates His LinkedIn Hilariously; Big 4 Split | 10.11.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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GASB Asks For Input on Infrastructure Assets Proposals

CPA Practice

Several Governmental Accounting Standards Board (GASB) proposals regarding the accounting and financial reporting for infrastructure assets are on the table for stakeholders to review and provide feedback. The GASB issued a preliminary views document Oct. 10 on the infrastructure assets project, which the standard-setting board said is in its “relatively early stage.

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AI: Solving old drudgery, creating new drudgery

Accounting Today

New technology has a habit of fixing old problems but creating new ones in their place, and AI is unlikely to be an exception.

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What Procedures Are Performed in an ERISA 103(a)(3)(c) Audit?

Withum

Effective July 2019, the AICPA Auditing Standards Board issued the Statement on Auditing Standards (SAS) No. 136, Forming an Opinion on Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The SAS works on enhancing the reporting requirements for the audit and changes the form and content of the auditor’s report, therefore upgrading the name of a limited scope vs. full scope audit to the newly named ERISA 103(a)(3)(c) audit and ERISA non 103(a)(3)(C) audit.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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RSM US and UK plan to combine

Accounting Today

Allowing for regulatory approvals and other hurdles, the two firms hope to become a single firm by the end of 2025.

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RSM to Merge With RSM

Going Concern

Well this is surprising news to say the least. RSM US and RSM UK announced the two entities “intend to establish a partner-owned multinational organization dedicated to delivering quality, globally integrated services for the middle market.” In other words, they’re merging. And of that they said: This merger would significantly expand the multinational platform created by the U.S. and Canada with the launch of RSM Canada in 2017 to meet the growing needs of global middle market

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The new drudgery

Accounting Today

Once AI handles all the boring and unpleasant tasks for accountants, what boring and unpleasant tasks will replace them?

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Numeric Raises $28 Million in Series A Funding

CPA Practice

AI accounting automation platform Numeric has raised a $28 million Series A led by Menlo Ventures, with participation from new investors IVP and Socii Capital. Existing backers Founders Fund, 8VC, Long Journey, Access Industries, and Friends & Family Capital, among others, also invested in this round. Numeric said the investment will accelerate engineering hiring and product development, supporting the San Francisco-based company’s aim to enable real-time decision-making from financial d

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Tech news: Center rolls out "Insights for Travel"

Accounting Today

Plus, Paystand enhances support for Microsoft Dynamics; and other accounting tech updates.

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Validis Launches Upload Functionality to Streamline Data Collection

CPA Practice

Validis, a maker of technologies for accounting data extraction and standardization, has announced a breakthrough in financial data sharing that promises to transform the audit industry. The launch of its innovative Upload functionality empowers auditors to access standardized financial data from any accounting system, dramatically reducing data collection time while enhancing the customer experience.

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On the move: Centri hosts Community Collaboration Day

Accounting Today

Baker Tilly names chief growth officer; Marcum and KPMG release surveys; and more news from across the profession.

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QuickBooks License: What You Need to Know Before You Buy?

Ace Cloud Hosting

QuickBooks is an accounting software that has proven to be a perfect choice for multiple businesses, from small bookkeeping firms to large enterprises. Selecting the proper QuickBooks license makes a.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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Section 1071: Understanding Data Collection Requirements Under the Dodd-Frank Act

Anders CPA

As the effective start dates for Section 1071 data collection draw near, banks need to review the requirements outlined in the Dodd-Frank Act and guidance provided by the CFPB. To stay in compliance with new data collection requirements, your institutions must understand which data points to collect, and how to build processes and procedures around them.

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Tax Gap For 2022 Estimated At $696 Billion, IRS Says

CPA Practice

The projected gross tax gap—the difference between the total taxes owed to the federal government and how much is collected on time—for tax year 2022 is $696 billion , down $12 billion from a revised 2021 tax gap of $708 billion, the IRS said on Oct. 10. A projected $90 billion of the gross tax gap eventually will be paid, resulting in a net tax gap of $606 billion, according to the IRS.

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Fatema Raza Named on NJBIZ 2024 Leading Women in Business List

Withum

Withum is proud to share that Fatema Raza , Partner, has been named on NJBIZ’ s 2024 Leading Women in Business List in the Traditional category. Previously known as the NJBIZ Best Fifty Women in Business, this program recognizes women who have made a significant impact on business in New Jersey. In addition to being an active member of Withum’s Financial Services Team , Fatema is a central contributor to several firm-wide initiatives and events.

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IRS Provides Tax Relief to All of Florida After Hurricane Milton

CPA Practice

Because of hurricanes Debby, Helene, and, most recently, Milton, all taxpayers in Florida now have until May 2025 to file individual and business tax returns and make tax payments, the IRS announced on Friday. As a result of Hurricane Milton—which hit the western coast of the Sunshine State during the late evening of Oct. 9 and crossed through Florida during the morning of Oct. 10—individuals and businesses in 51 counties will receive disaster tax relief.

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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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RSM US and RSM UK Plan Merger of Transatlantic Units

CPA Practice

RSM US LLP and RSM UK Holdings Limited, both among the largest providers of assurance, tax and consulting services for middle market leaders globally, are in advanced discussions to merge, subject to definitive agreements and customary legal, regulatory and other approvals. The transatlantic merger would establish a partner-owned multinational organization spanning locations across the U.S., the UK, Canada, Ireland, India and El Salvador, supported by 23,000 professionals, with combined annual

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AI and Privacy Regulations – The Accounting Technology Lab Podcast – Oct. 2024

CPA Practice

Hosts Brian Tankersley, CPA, and Randy Johnston discuss how the privacy implications of artificial intelligence and new regulations attempting to address these issues. Watch the video: Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Brian F. Tankersley, CPA.CITP, CGMA 00:00 Randy, welcome to the accounting Technology Lab sponsored by CPA Practice Advisor, with your host, Randy Johnston and Brian Tankersley, Randy Johnston