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A lot of colleagues call me and “complain” that their staff are not doing as good a job as they need to. After a brief discussion, it appears the problem lies with the owner or partner because they have shortcut the planning process. This is not an isolated issue. Everyone always seems to be perpetually […]
The American Institute of CPAs and CPA.com have announced that the 2020 Private Companies Practice Section Client Accounting Advisory Services Benchmark Survey is accepting submissions. The annual poll gathers input on key performance indicators, management strategies, staffing and financial results from client accounting service practices across the country. After completion, participants will receive benchmarking data […]
In late 2015, Eli Fathi was named CEO of the artificial intelligence firm MindBridge. Fathi’s enthusiasm for artificial intelligence was sparked by the purchase of DeepMind by Google in 2014, demonstrating the potential power and opportunities for AI-based applications. Fathi, a Canadian serial entrepreneur, had headed several tech startups when MindBridge founder Solon Angel tapped […]
A month after President Donald Trump moved to shore up workers’ incomes by giving employers the option of deferring payroll taxes, the effort has failed to energize a U.S. economy still reeling from the coronavirus pandemic. No major private employer has stepped forward with plans to forgo withholding the levy from workers’ paychecks — as […]
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 […]
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