You can look at the revenue recognition standard in one of two ways — a compliance burden, or an opportunity for finance leaders to emerge and change the game.
They’re an eclectic bunch — some of the nation’s most privileged heirs alongside entrepreneurs who have made spectacular fortunes in real estate, finance and Silicon Valley. But collectively they’re united on the need to tax more of the richest Americans’ assets.
The American Institute of CPAs’ Auditing Standards Board has issued a proposed standard on audit evidence to update an older standard and include new technologies such as data analytics and blockchain.
The House Ways and Means Committee unanimously approved a bill to allow same-sex couples who married before the Defense of Marriage Act was struck down by the Supreme Court to claim tax refunds.
Thirteen percent of organizations currently use AI or machine learning to combat fraud, and 25 percent expect to adopt such technology in the next year or two.
Many audit teams are neglecting to implement new technologies that could reduce the time needed for SOX audit requirements.
As more and more companies look to report on a wider range of measures, opportunities are arising for accountants.
The company is developing technology to inject AI into the audit process.
Marijuana businesses are growing fast, but it’s a complicated market that accountants need to really understand before they jump in, according to Dave Roberson and Maureen Ryan of Kukuza Associates.
If staff do not grow, then the owners cannot grow.