KPMG launched its new "AI Impact Initiative," which will focus on helping nonprofits implement AI as well as provide AI training and education for the "workforce of the future."

The jobs report blew past expectations, although the unemployment rate ticked up to 4%.

Officials discussed some of the latest accounting standards and advice for auditing firms during a USC and FEI conference.

A recent survey from Thomson Reuters said auditors find new technology that assists during the execution/fieldwork phase of an engagement to be most useful.

The practice aid provides information on auditing the valuation of cryptoassets and audit procedures surrounding their existence, rights and obligations.

The White House has vetoed a bill that would have repealed a measure requiring custodians of crypto assets to count them as liabilities on their balance sheets.

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.

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.