Audit & Accounting

CTA unconstitutional; AI and your practice; 30 years and counting; and other highlights from our favorite tax bloggers.

Are client advisory services the future of accounting?

The ruling further complicates an already complicated area — the law's mandate around beneficial ownership information reporting.

Year-over-year hourly earnings growth for U.S. workers moderated slightly in February, continuing a trend that began mid-2022, while small business job growth held steady.

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power."

Investors have filed a lawsuit against an accounting firm alleging it helped a client maintain a Ponzi scheme involving cash advances that led to the loss of millions of dollars.

The Top 100 Firm also announced the first three member firms of the network, which will focus on food and agriculture clients.

The Chicago-based agricultural commodity trader said the issue with internal controls relates to the way it reports sales between segments.

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

The development comes as Trump is appealing a trial loss that resulted in a $454 million judgment against him and his company for inflating the value of assets by billions of dollars.