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Firm Management

KPMG to Cut Audit Staff By About 4%

The Big Four firm has let 330 people, or nearly 4% of its roughly 9,000-person audit workforce, know they will be losing their jobs.

Jason Bramwell

Software

Checklist: Ensure your firm’s success this upcoming tax season

Right now is the best time to prepare for tax season. In this guide, you will discover the nine things you can do today to improve your next tax season.

Firm Management

CBIZ Completes Marcum Acquisition

The 2.3-billion-dollar megadeal between the two top 15 accounting firms, which was announced in July, became official on Nov. 1.

Jason Bramwell

Taxes

Bloomberg Tax Partners with Specialized Tax and Expense Solutions

Bloomberg Tax’s new partner program includes K1x for investment data, Incentify for tax credits and incentives, and Antium, which optimizes expense management.

Isaac M. O’Bannon

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Small Business

Third-Party Cyber Risk Management Shows Progress

The fifth annual global survey into supply chain cyber risk management highlights ongoing investment in technology and talent to enhance supply chain security.

Isaac M. O’Bannon

Firm Management

Employee Burnout Continues to Rise, According to Grant Thornton Survey

Fifty-one percent of survey respondents have suffered burnout in the past year, a 15 percentage-point increase from last year’s survey.

Isaac M. O’Bannon

Accounting

FASB Adds Standard on Income Statement Expenses

The FASB listened to investor requests by requiring public companies to disclose more information about certain expenses.

Jason Bramwell

Firm Management

Blue & Co. Merges in Mellen, Smith, and Pivoz

The combination, effective Nov. 1, enables the Carmel, IN-based top 60 accounting firm to expand into the Detroit market.

Jason Bramwell

Advisory

Sikich Expands AI Consulting Offerings

The top 30 firm launched the Sikich AI Solutions Studio and appointed longtime firm veteran Ray Beste as principal AI strategist.

Jason Bramwell

Taxes

Taxes, Tariffs and More: 5 Key Economic Stakes of the U.S. Election

Tuesday’s election will have far-reaching economic consequences, ranging from how Americans are taxed to global trade and energy.

Taxes

Here’s Why Maryland Paid the IRS $5.4 Million in Taxes

Maryland has paid $5.4 million to the IRS after a rare audit of the state found it owed millions of dollars in taxes in 2020.

Taxes

Bruins’ Struggles Due to Massachusetts State Taxes, Business Coalition Argues

A trend is forming in the Boston sports scene: if a team struggles, state taxes are blamed for the poor performance.

Payroll

U.S. Payrolls Rise By Just 12,000 Amid Storms and Strikes

Nonfarm payrolls increased 12,000 in October, and hiring over the previous two months was weaker than previously thought.

Accounting

Wolters Kluwer Adds AI and Other New Features Across CCH Axcess Solution

The company has also expanded vendor participation in the CCH Marketplace, further committing to open integration in support of growth.

Isaac M. O’Bannon

Accounting

Forensic Accountants to Meet During Period of Increased Demand for Their Services

Forensic and valuation services (FVS) professionals will meet this year in Dallas from October 28-30 at the annual AICPA & CIMA Forensic & Valuation Services Conference.

Isaac M. O’Bannon

Benefits

Finance & Insurance Tops All Industries in Employee Benefits

The Finance & Insurance industry has the best benefits, as the industry earned the highest overall score of 92.33 out of a possible 100.

Isaac M. O’Bannon

Accounting

Forvis Mazars Launches ProBank Advisor

ProBank Advisor offers assistance by connecting institutions with a robust team of compliance professionals, including former examiners, attorneys, and banking practitioners with more than 150 years of combined experience.

Isaac M. O’Bannon

Accounting

Withum Announces Cloud-Based Digital Audit Platform

By integrating this platform with the firm’s other cloud-based solutions, Withum has created automated workflows that foster consistency, collaboration and scalability.

Isaac M. O’Bannon

Taxes

IRS Releases 401(k), IRA Contribution Limits For 2025

The 401(k) contribution limit will increase to $23,500 next year, the IRS says, but the IRA contribution limit will stay at $7,000.

Jason Bramwell

Accounting

CPE Webcast Nov. 18 – The Thriving Tax Office: Firm Modernization

Delve into practical strategies to grow your tax firm in today’s market. We’ll cover pricing strategies, firm modernization, and technology adoption to boost efficiency and client satisfaction. Join us as we chart a course toward growth for your business.

Taxes

SafeSend Launches New Client Portals

With straightforward workflows, SafeSend’s portal offers an efficient, organized experience that eliminates the need to juggle multiple systems.

Isaac M. O’Bannon

Benefits

U.S. Workers Want More Support on Financial Well-Being

The survey found U.S. employers are prioritizing support for mental (73%) and physical (50%) well-being.

Isaac M. O’Bannon

Mergers and Acquisitions

Forvis Mazars Adds Florida Accounting Firm MSL

As a result of the deal, Forvis Mazars gains 120 professionals, including 14 partners, and three new Florida office locations.

Isaac M. O’Bannon

Taxes

Campaign-Trail Tax Proposals Face Hard Road to Passage

Former members of Congress and staff have mixed predictions for the viability of the presidential candidates’ tax proposals.

Accounting

Review of Syft Analytics – The Accounting Technology Lab Podcast – Oct. 2024

Hosts Brian Tankersley, CPA, and Randy Johnston review Syft Analytics, which lets professionals generate everything from reports through integrated forecasts and consolidations, to make better business decisions with their financial data.

Brian Tankersley, Randy Johnston

Advisory

Crowe Launches Human Capital Consulting Practice

The new human capital consulting practice at Crowe will be led by Joy Duce, who previously was chief people officer at Baker Tilly.

Jason Bramwell

Advisory

Avalara Expands Global E-Invoicing Compliance with Built on Workday

The Avalara ELR solution gives customers a robust tax automation tool to help remain compliant with e-invoicing regulations globally.

Isaac M. O’Bannon

Small Business

Vertex Releases AI-Powered Copilot and Honors Partners at Exchange 2024 Conference

Vertex unveiled its generative AI-powered Copilot, a next-gen capability on the cloud platform to streamline access to insights and elevate the efficiency of the tax process.

Isaac M. O’Bannon

Technology

Russian Court Fines Google $20 Decillion (20 with 33 Zeros)

Russia has fined Google $20,000,000,000,000,000,000,000,000,000,000,000, many times more than the world’s entire GDP, for blocking its YouTube accounts.

Accounting Standards

FASB Proposal Aims to Clarify Guidance on Accounting Acquirer in Business Combinations

The determination of the accounting acquirer can significantly affect the carrying amounts of the combined entity’s assets and liabilities, which can affect the combined entity’s post-transaction net income.

Isaac M. O’Bannon

Accounting

Sage and Artis Partner for Document Automation and Efficiency

This collaboration marks the first time Sage is delivering AI services to a partner’s platform, highlighting its strategy to extend the reach of its proven AI capabilities beyond its own product ecosystem.

Isaac M. O’Bannon