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Featured….
PCAOB Publishes Refresher for Auditors on Audit Committee Communications
PCAOB Lays Out 2025 Inspection Priorities
Growth of Sports Betting May Be Linked to Financial Woes, New Studies Find
AICPA & CIMA Announce Inaugural Graduates of the Registered Apprenticeship for Business Partner Program
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
CPE Webcast Dec. 5 – Struggling with Workflow Chaos? Discover How Identifying Your Offerings Changes Everything!
CPE Webinar: Top 10 Payroll Tasks to Prepare for Year-End
Events….
Accounting
Intuit Connect 2024 – Oct. 28-30
Get inspired by influential speakers and expert-led sessions on topics such as QuickBooks tools and services, Mailchimp, firm growth, client advisory, and more.
SYNERGY 2024 Conference – Nov. 6-9, 2024
From AI-driven solutions to cutting-edge advancements in digital transformation, find out what’s next from Thomson Reuters at SYNERGY 2024
Ensuring Success 2024 – CPAs Can Earn Up to 14 Hours of Free CPE in December
The end of the year is almost here, and that means you need to check if you have all of your CPE completed. A lot of us have just gotten out of extension season, then the election, but if you need more CPE, Ensuring Success is an easy way to earn up to 14 hours of CPE credits in 2 days, from your own office or laptop. And it’s free.
Federal Court Blocks Enforcement of Corporate Transparency Act and BOI
A new federal law that would require most LLCs, corporations and partnerships to file disclosures with the Treasury Department, including Beneficial Ownership Information, has been halted by a Texas federal judge.
Corvee to Launch Professional Tax Prep System Under Its ‘Instead’ Brand
Corvee announced that the the company’s tax management platform, Instead, has been approved by the Internal Revenue Service to offer e-filing tax preparation software, and is nearing completion of the corresponding capabilities to prepare associated state, city and other related jurisdictional tax filings.
Small Business
Intuit and Amazon Expand Partnership to Help Small Business Sellers
QuickBooks will become Amazon’s preferred partner for financial management solutions integrated directly in Amazon Seller Central, the Amazon site where sellers manage their businesses.
Auditing
PCAOB Publishes Refresher for Auditors on Audit Committee Communications
The PCAOB said its staff continues to identify numerous deficiencies related to auditor communications with audit committees.
Auditing
PCAOB Lays Out 2025 Inspection Priorities
The staff report includes key risks and considerations for auditors, questions for audit committees, and more.
Payroll
Growth of Sports Betting May Be Linked to Financial Woes, New Studies Find
Missouri voters are the latest to approve sports betting, making it legal in 39 states and the District of Columbia.
Accounting
AICPA & CIMA Announce Inaugural Graduates of the Registered Apprenticeship for Business Partner Program
The apprenticeship graduates are established professionals that entered the program to enhance their skillsets to meet the ongoing talent demands of the finance and accounting profession.
Accounting
Indiana CPA Society Honors 20 Outstanding CPAs and Related Professionals
This year’s winners were announced at the annual INCPAS CPA Celebration on November 22 at The Crane Bay Event Center.
Payroll
Fear Over Trump Tariffs Sending Americans Into Debt, Study Reveals
A recent survey found that a third of consumers are stockpiling items and taking on additional debt because they fear higher prices.
Payroll
U.S. Job Growth Bounces Back in November
Employers added 227,000 jobs in November, led by healthcare and leisure and hospitality, according to new government data.
Taxes
Treasury and IRS Offer Guidance on Energy Efficient Home Improvement Credit
The revenue procedure provides procedures and requirements that a manufacturer of specified property must follow to be treated as a qualified manufacturer.
Firm Management
What Clients Expect From Their Accountants
Findings highlight the need for seamless technology, proactive communication, and personalized service.
Payroll
Dayforce Wallet Surpasses $5 Billion Milestone
Dayforce Wallet, the company’s flagship on-demand pay solution, has delivered over $5 billion USD through on-demand pay, early direct deposit, and paycard to employees.
Payroll
Hiring Platform Remote Eases Challenge of Finding Global Talent
The initial rollout of capabilities includes Matches, a new way to help companies find top global talent ideal for customers’ open positions, sourced from Remote’s pool of active, qualified job-seekers from all over the world.
Taxes
Corvee to Launch Professional Tax Prep System Under Its ‘Instead’ Brand
Corvee announced that the the company’s tax management platform, Instead, has been approved by the Internal Revenue Service to offer e-filing tax preparation software, and is nearing completion of the corresponding capabilities to prepare associated state, city and other related jurisdictional tax filings.
Taxes
IRS Criminal Investigation Division Releases Its FY 2024 Highlight Reel
IRS-CI initiated more than 2,667 criminal investigations, obtained 1,571 convictions, and reclaimed its 90% conviction rate in FY24.
Small Business
AICPA Releases Statement on BOI Injunction, FinCEN Appeal
A federal court in Texas has issued an injunction barring enforcement of the Corporate Transparency Act and BOI reporting, until the case is resolved.
Auditing
PCAOB Says Audit Firm Culture is Tied to Audit Quality
Taking a deep dive into internal firm culture, a new PCAOB staff report discusses several factors that can impact audit quality.
Auditing
PCAOB Punishes New York Audit Firm, Three Partners for Deceiving Inspection Staff
The PCAOB doled out $465,000 in total fines, permanently revoked the registration of Raines & Fischer, and barred three of its partners.
Small Business
AMEX Report Shows Small Businesses are Embracing Tech, Eyeing Growth in 2025
Looking back on 2024, 70% of small businesses say their business became stronger following a period of uncertainty, and nearly three-quarters (74%) expect a period of stability for their business in 2025.
Technology
Overview of 2024 CCH Connections- The Accounting Technology Lab Podcast – Nov. 2024
Brian Tankersley, CPA, and Randy Johnston provide a recap of the 2024 CCH Connections user conference.
Sales Tax
Sovos Handled Taxes on Nearly 300 Million Transactions During Black Friday and Cyber Monday
Sovos achieved record-breaking performance during this year’s Black Friday and Cyber Monday shopping events.
Auditing
PCAOB Revokes Israel-Based Audit Firm’s Registration, Bars Partner
The sanctions against Weinstein International CPA and Idan Weinstein are for violating rules on three issuer audits.
Small Business
Improve Client Cash Flow in 2025 Using Proven Strategies
Slow or non-payments are a real concern, and as a firm owner, it’s in your best interest to help your clients receive their payments faster and reevaluate spending.
Mergers and Acquisitions
Platform Accounting Group Acquires NorCal Accounting Firm DHS
Platform is a next-gen accounting and professional services group created in 2015. It strives to preserve the dynamics of small firm cultures and incorporates the technology and connectedness of the 21st century.
Auditing
PCAOB Adopts New Audit Firm Reporting Standards
“Sound and consistent information strengthens investor confidence and can drive audit quality,” PCAOB Chair Erica Williams said.
Accounting
IDC Names Thomson Reuters as a Leader in SaaS, Tax Automation
Pagero, part of Thomson Reuters, was also recently named a Leader in the IDC MarketScape.
Accounting
Tipalti Adds Solution for Canadian Businesses
Since establishing a presence in Canada with its Vancouver office in 2020 and its Toronto office in 2022 to support its US headquarters, Tipalti has grown its Canadian workforce to over 300 employees.
Financial Reporting
Federal Court Blocks Enforcement of Corporate Transparency Act and BOI
A new federal law that would require most LLCs, corporations and partnerships to file disclosures with the Treasury Department, including Beneficial Ownership Information, has been halted by a Texas federal judge.
Payroll
ADP Says Jobs Increased 146K in November, Annual Pay Up by 4.8%
The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market.
Payroll
Survey Shows 62% of Workers Face Serious Financial Anxieties
While many employees feel a strong sense of long-term “retirement confidence,” anxiety around near-term finances is growing and impacting workplace productivity.
Payroll
U.S. Small Business Job Growth Rate Remained Steady in November
According to the Paychex Small Business Employment Watch, small business job growth across the U.S. remained relatively consistent in November .
Accounting
CPA Business Execs’ Optimism About the Economy is Soaring Post-Election, AICPA Says
CPA business leaders’ optimism about the economy surged by 41 percentage points from the previous quarter, the AICPA & CIMA said.
Firm Management
Dean Dorton Picks Up Shilts CPA in Florida
The deal with Shilts CPA, effective Dec. 1, expands the top 100 accounting firm’s valuation and forensic accounting offerings.