The commission approved proposals from the PCAOB around contributory liability, the responsibilities of the auditor, and technology-assisted data analysis.
Category: NYT Accounting News
SOC 2 reports reimagined: From burden to business enabler
It’s time to change our outlook and embrace the advancements in performing SOC 2 audits to fully realize the incredible amount of value and competitive advantage the service can provide.
Greatland buys Information Returns
Greatland Corporation, the company behind Yearli, announced it has acquired Information Returns Inc.
Unauthorized access of tax returns on the rise at IRS
In 2023, 125 violation cases of unauthorized access of tax return data were reported, the highest since 2018 —but instances of disclosure violations remains low.
In the blogs: They’re off
A useful AMT; refunds of the dead; core-satellite portfolios; and other highlights from our favorite tax bloggers.
North Carolina joins IRS Direct File
The Treasury Department and the Internal Revenue Service announced that North Carolina will be the latest state to join the IRS Direct File free tax program in filing season 2025.
Baby season vs. busy season
Accountants are planning their pregnancies to avoid having children during tax and audit busy seasons — and they’re not happy about it.
Tax deadline next year looms large as Democrats rally in Chicago
Vice President Kamala Harris and former President Donald Trump have laid out widely divergent plans for handling the sunset date for many parts of the TCJA.
PCAOB ramps up enforcement against auditors
The board brought 34 actions against 45 respondents and imposed a record $35 million in penalties in the first half of 2024.
Synapse crisis shows ledgers are key
Many cutting-edge fintech companies, such as now-bankrupt Synapse, lack essential infrastructure to effectively reconcile transactions, track funds, and maintain visibility into ledgers.