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In 2019, Armanino debuted TrustExplorer, an assurance platform that uses blockchain technology to provide continuous evidence collection and on-demand audit opinions. The firm has announced a new client in CoinShares, a European digital asset investment firm that has more than $1 billion under management. TrustExplorer works by interacting with digital assets — i.e., cryptocurrency tokens […]
Anti-fraud experts are seeing a rise in various types of fraud this year due in large part to the COVID-19 pandemic, according to a new report released Friday by the Association of Certified Fraud Examiners. The new report follows up on one released in June by the ACFE, which polled CFEs in May on their […]
Strategic planning is misunderstood in most small and midsized CPA firms. There have been tons of books and articles published about the strategic planning process. Developing strategies is probably the most prevalent topic that accounting firm partner retreats focus on. Firms have used numerous processes to create and execute a strong, effective strategic plan to […]
The Internal Revenue Service issued the special per diem rates Friday for 2020-2021 that taxpayers can use to substantiate the amount of expenses they can deduct for lodging, meals and incidental expenses when they’re traveling away from home, effective Oct. 1, 2020. Notice 2020-71 provides the special transportation industry rate, the rate for the incidental-expenses-only […]
IRS names deputy chief of criminal investigation; PKF Texas launches new service line; and more CPA news.
A group of international sustainability accounting standard-setters — including the Carbon Disclosure Project, the Climate Disclosure Standards Board, the Global Reporting Initiative, the International Integrated Reporting Council and the Sustainability Accounting Standards Board — released a shared vision Friday of the elements needed for more comprehensive corporate reporting and a joint statement of intent to […]
The IRS is expanding information and assistance available to taxpayers in additional languages, including providing the 1040 in Spanish for the first time. In addition to being available in English and Spanish, the 2020 Form 1040 will also give taxpayers the opportunity to indicate whether they wish to be contacted in a language other than […]
The Internal Revenue Service plans to mail out letters later this month to an estimated 9 million non-filers, encouraging them to claim their economic impact payments by an Oct. 15 deadline. The letters will be going out to Americans who typically don’t file federal income tax returns, but who may be eligible for stimulus payments […]
Ernst Young reported Thursday that its global revenues grew 4.1 percent in local currency terms to a record level of $37.2 billion in the fiscal year ending June 30, 2020, despite the impact of the novel coronavirus pandemic. All EY service lines saw growth in fiscal year 2020. The assurance practice grew 3.1 percent, the […]
The Internal Revenue Service added six more forms to the 10 that can be signed digitally by taxpayers and tax professionals as the COVID-19 pandemic continues to make it difficult for tax practitioners and their clients to meet in the same room. Last month, the IRS announced it would temporarily allow the use of digital […]
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