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It remains true that automating processes within a firm that have long followed a tried-and-true manual process can be met with fear. It’s no one’s fault: sometimes even simple automation means a big change in how an accountant spends their time, and any change is scary. But perhaps we can take a lesson from Hollywood […]
Charles H. Noski has been reappointed as chairman of the board of trustees of the Financial Accounting Foundation, the group overseeing the Financial Accounting Standards Board, the Governmental Accounting Standards Board and the Private Company Council, but only until the end of 2019. Noski began chairing the FAF at the beginning of 2016, and his […]
The American Institute of CPAs has introduced a U.S. International Tax Certificate Program that aims to give accounting and finance professionals added skills to navigate the vagaries of international tax compliance and planning. Photo: AICPA The program includes training in how to distinguish between various types of global tax systems, and recognize the choice of […]
Breaches that expose the data of hundreds of thousands and even millions of consumers are becoming regular headlines, with cybercrime on the rapid rise and efforts to plug the leaks struggling to keep pace. Similarly at risk, however, is employee data, which can include home addresses, social security numbers or phone number, among other sensitive […]
The Internal Revenue Service issued a six-year plan Thursday for updating and modernizing its information technology systems, some of which date back to the Kennedy administration, in an effort to improve taxpayer service and beef up cybersecurity. The IRS has made previous efforts to update its aging computer systems, but has been constrained by budget […]
The United Kingdom’s Competition and Markets Authority has released the final version of a long-awaited report on changes in the audit market, recommending separation of audit from consulting services, mandatory “joint audits” to enable firms outside the Big Four to develop the capacity needed to review the U.K.’s largest companies, and the introduction of statutory […]
When it comes to workplace safety, accounting firms are largely considered low-risk. But that perception shouldn’t make employee safety any less of a priority. Accounting firm employees can still experience injuries or illnesses caused by preventable hazards. In fact, 3,800 nonfatal occupational injuries or illnesses were reported in the industry in 2017, according to the […]
Human capital management company ADP has released its Next-Generation Tax Engine, which is now embedded in all its tax compliance offerings. The Tax Cuts and Jobs Act of 2017 introduced significant new federal tax reforms and has driven similar legislation in more than 40 states, making it difficult for employers to keep up with the […]
If you do a Google search on “what is innovation?” you’re bombarded with multiple definitions from leading experts, respected publications and even the dictionary. You will also find many articles that quote the overly ominous, “Innovate or die!” refrain and illustrate the point by citing failed businesses like Woolworth’s, Kodak and Blockbuster. But innovation within […]
The Financial Accounting Foundation’s board of trustees has appointed Susan M. Cosper, technical director of the Financial Accounting Standards Board, as a member of the FASB board. In addition to being the longtime technical director at FASB, Cosper also chairs FASB’s Emerging Issues Task Force. Her term starts on May 1, 2019 and runs through […]
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