The International Federation of Accountants teamed up with the Pan African Federation of Accountants to report on how the profession can play a key role in transforming the continent’s finances.
Category: NYT Accounting News
The past and future of accounting ethics
Ethical standards in accounting encompass the moral principles and rules that accountants are required to adhere to during their professional work.
Campari owner rejects claims after reports of €1B unpaid taxes
The parent of Italian beverages group Davide Campari-Milano NV said it isn’t aware of any investigation following reports over alleged tax avoidance.
IRS looks to settle with some conservation easement participants
Some participants will get a letter next month outlining a potential settlement offer.
FASB to propose simplified guidance on software costs
The FASB voted to propose a new ASU that would, among other things, remove the distinction between linear and nonlinear development methods.
IRS advisory group recommends regulating tax preparers
An influential advisory committee to the Internal Revenue Service is asking Congress to regulate noncredentialed tax preparers and boost funding for the IRS and the National Taxpayer Advocate.
98% of accountants have used AI, mostly for data entry and processing
Pretty much every accountant has used AI in one form or another, with the most common use case being data entry and processing, according to a poll from Intuit QuickBooks.
Talent scarcity puts renewed focus on AI
The arrival of artificial intelligence represents the biggest opportunity to modernize the profession since the advent of the spreadsheet.
In the blogs: Moore to come?
Disaster planning; the flipside of an Employee Retention Credit mess; the QoE; and other highlights from our favorite tax bloggers.
Framework provides starting point for gen AI governance
A coalition of accounting educators and tech leaders released a generative AI governance framework as a starting point for organizations.