Kratom ka-boom; what a sport; treed; and other highlights of recent tax cases.
Day: July 25, 2024
Broker-dealer audits continue to have high deficiency rates
The PCAOB issued its annual report on its audits of brokers and dealers and noted that it’s seeing at least one deficiency in 70% of the 103 audit engagements it reviewed in 2023.
Funding spurs IRS improvements, but challenges remain, commissioner says
IRS provides fifth quarterly update on transformation efforts, with Commissioner Danny Werfel saying the agency is making “substantial progress.”
Tax practitioners both excited and concerned about gen AI
A recent survey of tax professionals has found that practitioners hold both excitement and concerns about generative AI, though there is slightly more of the latter than the former.
Automating AR processes brings transformative benefits
Companies that lag in making payments more streamlined have the potential of risking customer dissatisfaction and falling behind competitors.
UBS questioned by senator over $350M tax evasion case
UBS Group AG was asked by a powerful U.S. lawmaker about whether the bank it acquired, Credit Suisse Group, failed to report an American accused of evading taxes on $350 million in income.