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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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Nonprofit

Grant Thornton Names 20th Purple Paladin: Money Magnets Club

Through the program, Grant Thornton helps emerging nonprofit organizations move from “start-up to unstoppable” and provides funding, business advice and volunteer support, while also helping nonprofits raise awareness of their work and mission.

Accounting

U.S. Uniform CPA Examination is Now Offered in the Philippines

With the increasing globalization of business, many people who live abroad are interested in obtaining the U.S. professional designation. AICPA and NASBA, in partnership with their test provider Prometric, currently offer the U.S. CPA Exam in 18 countries aside from the Philippines.

Small Business

Clio Launches Accounting Solution for Law Firms

Clio Accounting is a legal-specific bookkeeping and accounting solution designed to address the unique financial needs of law firms.

Advisory

New SmartVault and Liscio Integration Paves the Way for Flexible Accounting Tech Stack

The integration is particularly timely as firms seek to replace outdated systems before the upcoming tax season.

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Accounting

Embracing Technological Change and Expanding Advisory Services are Critical to Internal Audit Profession

The report identified several positive technology-driven changes that are expected transform internal audit over the next decade.

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Accounting

CFO Optimism Hits Highest Mark in 3 Years

Grant Thornton’s Q2 2024 CFO survey of more than 225 senior financial leaders revealed several other positive indicators.

Accounting Standards

AICPA Comments and Requests to Testify on Foreign Trust Proposed Regulations

The submitted recommendations will simplify filing for taxpayers and practitioners, reduce the administrative burden on the IRS

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Accounting

AICPA Comments on Proposed Regs on Excise Tax on Repurchase of Corporate Stock

Section 4501(a) was enacted as part of the Inflation Reduction Act of 2022 and provides that a covered corporation is subject to “a tax equal to 1 percent of the fair market value of any stock of the corporation which is repurchased by such corporation during the taxable year.”

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Small Business

Retailers Saw Moderate Growth in June

Total retail sales, excluding automobiles and gasoline, were up 0.47% seasonally adjusted month over month and up 3.42% unadjusted year over year in June, according to the Retail Monitor.

Accounting

Andersen Global Adds Valuation Capabilities in Nigeria and South Africa

These additions mark Andersen’s first valuation service offerings in Africa, adding to the firm’s global valuation service offerings in North America, Europe, Latin America, the Middle East, and Asia.

Payroll

68% of Americans Think They Are On Track for Retirement, But Worry it Won't Last

Sixty-eight percent of savers with access to a retirement plan at work believe they are on track with retirement savings, up 12% from last year, due in part to improved market conditions. But for those who feel off-track, long-term uncertainty about how much savings (41%) or retirement income they will need (43%) are top of mind.

Accounting

Workiva Adds New Global Internal Audit Standards to Audit Management Platform

Released by the Institute of Internal Auditors (The IIA), the Global Internal Audit Standards are designed to equip internal audit professionals to respond to emerging business challenges and engage with board members and executives as strategic partners for their organizations.