In Brief To date, “smart contracts” have had only limited use. Nevertheless, they have the power to be transformative, particularly when combined with artificial intelligence…
In Brief With new technologies come new forms of assets and, eventually, new rules for the regulation and taxation of such assets. Beyond the current…
Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
In September 2018, the International Ethics Standards Board for Accountants (IESBA) issued a new International Code of Ethics for Professional Accountants, which was recently revised…
Accounting trend observers report that audit and assurance services regarding environmental, social, and governance reporting, as well as cybersecurity risks, continue to be prominent issues…
In addition to the human health, remote work environment, and technology challenges presented by the coronavirus (COVID-19) environment, tax practitioners have had to absorb and…
ICYMI | A New Approach to Finally Stop the Hackers
Increased Risks Require New Solutions
Everyone knows that hacking is a huge problem that typically results in the theft of large amounts of confidential information. But they don't know a…
In Brief Tax departments are always looking for ways to streamline their processes and procedures, and provide greater value-added services to management. Tax analytics and…
The accounting profession has a long and respectable history, and has made important contributions to business, commerce, and economies for hundreds, if not thousands, of…
Big data, artificial intelligence, and blockchain are among the biggest technology trends in accounting and finance (Bernard Marr, “The 6 Biggest Technology Trends in Accounting…
A New Approach to Finally Stop the Hackers
Increased Risks Require New Solutions
Everyone knows that hacking is a huge problem that typically results in the theft of large amounts of confidential information. But they don't know a…
In addition to the human health, remote work environment, and technology challenges presented by the coronavirus (COVID-19) environment, tax practitioners have had to absorb and…
In Brief Tax departments are always looking for ways to streamline their processes and procedures, and provide greater value-added services to management. Tax analytics and…
ICYMI | An Introduction to Blockchain
What Does it Mean for the Accounting Profession?
Bitcoin was introduced to the world under a cloud of mystery in January 2009. A white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, published in 2008 under…
According to the U.S. Bureau of Labor Statistics Occupational Outlook Handbook, there were more than 1.4 million accountants and auditors in 2019 (https://bit.ly/3DYhhSC). Based on…
The PCAOB requires that registered audit firms adhere to an audit quality control (QC) requirement: A firm of independent auditors has a responsibility to adopt…
The PCAOB requires that registered audit firms adhere to an audit quality control (QC) requirement: A firm of independent auditors has a responsibility to adopt…
ICYMI | Social Media Policies Matter
Is Internal Audit Up to the Challenge?
Today, most people use social media to stay connected to each other, especially since the move to remote work caused by the coronavirus (COVID-19) pandemic.…
In Brief Public health measures taken to mitigate the spread of the coronavirus (COVID-19) pandemic have upended business operations and processes. Auditing is no exception;…
The idea of “peer-to-peer electronic cash” was introduced in a white paper by the mysterious “Satoshi Nakamoto” in 2008. (Readers who are curious may enjoy…
Machine learning is an increasingly familiar technology term that encompasses a broad range of applications. Machine learning can enable businesses to sift through large amounts…
Natural Language Processing
Machine Learning Methods in Forensic Accounting
When performing forensic investigations, CPAs often deal with documents that contain a significant amount of textual data. This type of data may be found in…
An Introduction to Blockchain
What Does it Mean for the Accounting Profession?
Bitcoin was introduced to the world under a cloud of mystery in January 2009. A white paper, Bitcoin: A Peer-to-Peer Electronic Cash System, published in 2008 under…
Social Media Policies Matter
Is Internal Audit Up to the Challenge?
Today, most people use social media to stay connected to each other, especially since the move to remote work caused by the coronavirus (COVID-19) pandemic.…
The PCAOB requires that registered audit firms adhere to an audit quality control (QC) requirement: A firm of independent auditors has a responsibility to adopt…
Using a Permissioned Blockchain?
Consider Structuring It as a VIE
The adoption of blockchain has grown steadily since the technology was first introduced as a platform to create a decentralized currency, free from the effects…
Cloud Computing
Friend or Foe?
In Brief Many organizations are moving some or all of the technology operations to the cloud to reap the various benefits such a relationship can…
Leveraging Low-Cost Technology to Attract the Next Generation of Clients
Adapting to a Changing Environment
Providing services for current clients is often easier for CPA firms than recruiting new clients or tailoring existing services. Although CPAs should strive to meet…
CPAs in the not-for-profit (NFP) sector are busy keeping up with financial accounting, tax law, technology, and operational changes. Many recent tax provisions affect NFP…
The 2021 tax season began with a late start date for processing 2020 returns. As the IRS was still attempting to complete work on 2019…