Public finance

Organizations seem to be going all in on AI, not only planning huge investments in it this year but making these investments central to their growth strategy, even amid other economic headwinds.

Internal auditors are reporting more cuts in their staffing and budgets, according to a survey by the Institute of Internal Auditors' Internal Audit Foundation.

New York City Mayor Zohran Mamdani is proposing raising New York City's property taxes for the first time in more than two decades.

The Internal Revenue Service Advisory Council issued its annual report after a turbulent year at the agency, criticizing the repeated funding and staffing cuts.

The Internal Revenue Service intends to shut down nine in-person Taxpayer Assistance Centers in six states as part of the administration's cost-cutting moves.

Government contractors are feeling the revenue effects of executive orders from the Trump administration and cuts from the Department of Government Efficiency.

The Institute of Internal Auditors expressed its opposition to efforts to slash the funding of the Government Accountability Office nearly in half.

The continuing resolution that the Senate narrowly approved included the extension of a $20.2 billion rescission in the Internal Revenue Service's budget.

Internal auditors are taking on more responsibilities, leveraging generative AI for tasks such as audit planning and reporting, says a new IIA report

The convergence of machine learning, generative AI and autonomous sourcing gives organizations the ability to realize most of the ZBB ideal.

The U.S. government recorded a higher surplus for the month of April thanks to a rise in tax receipts, while steeper debt-servicing costs impose a major drag.

The debt ceiling agreement included a side deal that would allow $70 billion in accounting moves to spare agencies most cuts, though $20 billion in cuts to IRS funds may be accelerated.

The 9th Annual Accounting Firm Operations and Technology Survey will remain open through September 1.

Recent data says that companies spent significantly more on software over the past year, with finance departments' spending in particular seeing major spikes.

Shrinking revenues make it harder for the Treasury to stay within the federal debt limit, which the department hit in January.

Plus Quadient launches AI-based cash application module; Metapraxis launches budgeting platform; and other accounting tech news.

The Treasury Secretary defended the extra investment in the IRS, arguing it is already paying off and that taxpayers are getting "drastically improved customer service this year."

An important factor in building and maintaining a profitable business is using an accurate budget.

Financial forecasting plays a pivotal role in the success of a business. That's why it's important to avoid missteps in creating this vital report.

While there are pension accounting standards, they allow plans to make more aggressive assumptions about how well they're funded than in the private sector.