Audit & Accounting

The Internal Revenue Service is turning to artificial intelligence to help select tax returns to audit and narrow the tax gap, but it needs to use this new technology consistently and transparently, according to a new government report.

The shift of public accounting firms, traditionally focused on providing auditing and tax services, into expansive multidisciplinary firms has long raised concerns among investors and regulators.

The U.S. Fifth Circuit Court of Appeals in New Orleans sided with the private funds industry, which argued that the agency overstepped its authority.

The jobs market showed signs of a slowdown last month as the private sector added 152,000 jobs in May, while annual pay grew 5% year over year, ADP reported.

As the profession takes on more and more roles, it's getting harder and harder to define what, exactly, an "accountant" is.

Restocking the accounting profession's talent pipeline is everyone's responsibility, says the National Pipeline Advisory Group.

Hourly earnings growth for employees slid to their lowest level since the middle of 2021, according to Paychex.

Stewardship and administration of the educational initiative is being transferred from North Carolina Agricultural and Technical State University to the American Accounting Association Foundation.

The report highlights the International Ethics Standards Board for Accountants' yearly accomplishments and outlines future plans, like focusing on sustainability.

Former Baker Tilly member firms in Mexico joined CliftonLarsonAllen Global to create CLA Mexico; Marcum Technology acquired CLA's IT Enhanced Managed Services Division; Doeren Mayhew acquired Nearman, Maynard, Vallez CPAs; and Rea & Associates merged in Koontz & Parkin, CPAs.