Accounting, Audit & Advisory

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PwC Is a Name You Can Trust … Or So It Claims
goingconcern.com Jun 15, 2021
Hey all you Trusty McTrustersons! Here’s an excerpt from a post Trusty Tim Ryan published today on LinkedIn explaining something new at PwC called The New Equation: I can just imagine Tim sitting at his laptop twirling a fake villainous mustache...
The IMA Is Beefing With the AICPA and NASBA Over the Future of Accounting Education
goingconcern.com Jun 15, 2021
Today, the AICPA and NASBA unveiled their highly anticipated CPA Evolution Model Curriculum — CPAEMC if you’re nasty — which the Journal of Accountancy describes as “a recommended blueprint for an accounting program designed to help educators...
Accountants Behaving Badly: Ex-Missouri CPA Would Have Made Bernie Madoff Proud
goingconcern.com Jun 14, 2021
Richardson, a certified public accountant until his license was revoked, engaged in a decade-long Ponzi scheme. The government presented evidence at today’s sentencing hearing that Richardson defrauded numerous victims across the United States out...
The Blunt Bean Counter: Let me tell you! William Bengen knows how to define success
thebluntbeancounter.com Jun 14, 2021
The content on this blog has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The blog cannot be relied upon to cover specific situations and you should not act, or refrain from acting,...
Is It Time For Prometric to Ditch the Mask Mandate?
goingconcern.com Jun 11, 2021
On May 16, 2021 the CDC announced that fully vaccinated individuals could enthusiastically rip the masks from their faces and go forth out into the world maskless like they did prior to all this mess. Social distancing? Gone. Hiding in your...
IRS mailing millions of letters about Child Tax Credits
accountingtoday.com Jun 7, 2021
The Internal Revenue Service is sending letters to over 36 million families about how they may be able to qualify for monthly Child Tax Credit payments, beginning in July. The American Rescue Plan Act that Congress passed in March expanded the...
AI bookkeeping: The future of accounting for business
accountingtoday.com Jun 4, 2021
Artificial intelligence is rapidly becoming a part of more businesses’ daily operations, with AI chatbots and product recommendation engines already in widespread use. According to a study by Big Four firm PwC, 72% of business decision-makers say...
KPMG Managing Director Alan White Will Be Laid to Rest on June 3
goingconcern.com Jun 2, 2021
A memorial service will be held in West Virginia on Thursday morning for KPMG Managing Director James Alan White who passed away in Dallas on Oct. 22, 2020. Internment will follow the memorial service, according to his obituary. White, who would...
Deloitte commits $75M toward diverse CPAs
accountingtoday.com Jun 2, 2021
As a new decade gets underway, some efforts in the accounting profession remain unchanged — one of which being the desire to boost diversity and representation in an overwhelmingly white profession. In an industry where less than half of...
The accountant’s survival trap: 10 ways to escape
accountingtoday.com Jun 1, 2021
Chances are you’ve never heard the term “survival trap,” but I’d be willing to bet you have a pretty good idea of what it is. Accountants reading this today have likely spent the last 16 months inside of this trap due to the challenges and changes...
“My Kids Will Never Fight Over My Estate”
thebluntbeancounter.com May 31, 2021
Greed – Very simply, money causes some people to lose their minds and perspective. This can destroy sibling relationships. Grabbers – I have seen this many times. One child “grabs,” or takes, items before the will is considered, or even ignores the...
IRS disburses billions more in Economic Impact Payments, plus-up payments
accountingtoday.com May 26, 2021
The Internal Revenue Service disbursed more than 1.8 million additional Economic Impact Payments totaling over $3.5 billion under the American Rescue Plan in the past two weeks. The IRS and the Treasury said Wednesday they have disbursed nearly 167...
KPMG launches relaxed work policies to combat remote work fatigue
accountingtoday.com May 26, 2021
While the stress of a year (and counting) of remote work has undoubtedly been anxiety-provoking for the accounting profession, a significant number of firm leaders have taken the unique opportunity presented to them to reassess workplace practices...
Optimize tax breaks for retirement planning
accountingtoday.com May 26, 2021
Planning for retirement is a lifelong journey. For accountants and tax professionals working with clients age 50 and older, there are certain tax perks to recommend that could help boost savings for the future. These strategies traditionally...
Oh Look, a Pissed-Off Stockholder Is Suing Mattel Directors and PwC
goingconcern.com May 25, 2021
The five-count, proposed class complaint filed late Friday by lead stockholder Robert Colton Andersen, names 13 current or former officers and directors of the business along with PricewaterhouseCoopers LLP, Mattel’s longtime independent auditor....
IRS tests secure transcript technology for tax pros
accountingtoday.com May 24, 2021
The Internal Revenue Service has been pilot testing new technology allowing for secure tax transcript retrieval that can integrate with an accounting firm’s practice management system. The agency has developed an application programming interface...
Auditors leverage technology lessons from pandemic
accountingtoday.com May 21, 2021
Auditors are taking advantage of the remote auditing capabilities they used during the pandemic to do more types of audits and expand priorities like fraud detection and cybersecurity. The COVID-19 pandemic has forced many audit firms and internal...
Let’s Hop In a Time Machine and Talk About Public Accounting Perks and Comp Circa 2011
goingconcern.com May 20, 2021
Imagine if you will being magically transported back to the year 2011. As you aggressively yank your jeggings over your calves while waiting for Angry Birds to update over your 3G connection, “Somebody That I Used to Know” plays gently (and...
Treasury hopes for billions from cracking down on ghost preparers
accountingtoday.com May 20, 2021
Investing more in tax compliance, including regulating preparers, beefing up cryptocurrency reporting, and modernizing old IRS technology, would yield $700 billion in tax revenue over the next decade, according to a new report. The report, released...
Shape Your Accounting Career Your Way with the Intuit Expert Network
goingconcern.com May 20, 2021
Looking to grow your professional experience, engaging with new clients in new situations? Ready for the next challenge as your accounting career revs up or winds down, or seeking a full-time job as a bookkeeping professional? The offers the...
For CFOs, digital transformation is a post-pandemic must
accountingtoday.com May 19, 2021
The massive remote work experiment forced upon business by the pandemic has been largely successful for two reasons — the perseverance and diligence of employees and the virtual technologies used to communicate, collaborate and automate business...
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