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The common assumption is that closing the AI skills gap means teaching accountants new technical skills. But the real gap is structural: whether a firm has redesigned its governance, roles, and workflows around AI.

Charleston, West Virginia-based Gray Griffith & Mays acquired Lambright & Gutta, effective as of Sept. 2.

Lancaster, Pennsylvania-based Trout CPA acquired Schiff & Associates, expanding the firm's dental advisory practice.

The deal expands the Top 25 Firm's assurance and consulting practice, and strengthens its industry and service capabilities.

The Financial Accounting Standards Board posted a proposed accounting standards update with targeted improvements to the Accounting Standards Codification.

A proposed NYSE rule change would let newly listed companies wait five years before establishing an internal audit function.

Base pay rose 3.2% and gross pay was up 4.7% year over year, according to the new ADP Pay Insights component of the report.

Accountants tend to view hallucination control as a governance challenge first and a technical challenge second. Essential to this is human review.

AI's infamous tendency to occasionally generate false information, also known as "hallucinations," remains untamed by even the world's largest accounting firms.

Accrual, generally known as a tax and practice management solutions provider, has acquired the technology and business of AI-guided bookkeeping and accounting solutions provider Puzzle.