ESG
BDO USA Releases Its 2023 Sustainability Report
The report highlights the firm’s efforts to integrate sustainability across its business through strategies that improve resilience, enhance inclusivity and encourage accountability.
Isaac M. O'Bannon
Managing Editor
isaac.obannon@cpapracticeadvisor.com
Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies.
Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran.
Email: isaac.obannon - @ - cpapracticeadvisor.com
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Taxes
More than 1,000 IRS Employees Were Delinquent or Noncompliant on Their 2023 Income Taxes
Between October 1, 2021, and April 1, 2023, the IRS closed 1,175 cases with disciplinary actions, for 1,068 current employees, with confirmed tax noncompliance issues.
Accounting
60% of CFOs Say Their Organizations are Ready to Implement and Work With AI, but Only 35% are Using AI in Finance
The report also notes a significant focus on business continuity and resilience, with 59% of finance executives prioritizing these areas in 2024, up from 51% in 2023 and 40% in 2022.
Accounting
Airwallex Partners with Float for Bill Payment Automation for Canadian Businesses
Float’s Bill Pay product, powered by Airwallex, introduces payouts – including bank transfers, EFT, wire, and ACH – as part of Float’s unified business finance platform for Canadian companies.
Accounting
Wolters Kluwer Acquires European Tech Portfolio, Including CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin
Wolters Kluwer Tax & Accounting has signed an agreement with Belgian fintech company Isabel Group to acquire its accountancy portfolio of cloud-based financial workflow and data exchange solutions for €325 million in cash.
Accounting Standards
Growth Seen in Pilot Program that Reduces Barriers to Finishing CPA Licensure Education Requirement
A program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure has expanded since it began offering online courses last semester.
Small Business
First-Party Fraud Costs $100 Billion Per Year
First-party fraud occurs when the legitimate holder of a credit card disputes a purchase they truly did make, but reports the transaction as an unauthorized purchase.
Small Business
Local Governments are Addicted to Sales Tax Revenues
The 2024 Mid-Year Sales Tax Rates and Rules report, commissioned by Vertex Inc., outlines the evolving landscape of local tax implementation, proliferation of fees, and increasing complexity of tax compliance for businesses across the U.S.
Accounting
Uncertainty and Global Risks Outpace Risk Management Processes
Only a third (37%) say their organizations have complete enterprise risk management (ERM) processes in place, and just over a quarter (30%) rate their organizations overall risk management oversight as “mature” or “robust.”
Accounting
Acumatica Launches Alliance Program to Expand Partner Ecosystem
Organizations eligible to become Alliance Members are those focused on helping companies grow and succeed in an evolving business landscape.
Payroll
U.S. Military Households More Likely in Better Financial Situation Than Non-Military Households
Also, military households with higher incomes are more likely to be confident about retirement prospects than non-military households.