This column marks the ninth anniversary of these “Art of Accounting” practice management columns. I am blessed to have been able to write them and to not miss an issue during this period. I also am thrilled to have been working with Michael Cohn as my editor and to have
The Treasury Inspector General for Tax Administration said that the Internal Revenue Service’s Taxpayer Digital Communication program, despite having existed for two years, could do more to improve communications with taxpayers, feeling that current efforts are a little unfocused. The recent report did note that, since the initiative was first
The Public Company Accounting Oversight Board has proposed a set of significant changes in the requirements for auditing firms’ quality control systems, in a major update from the earlier standards in place for decades. The proposed standard is part of the PCAOB’s efforts to modernize the standards it inherited 20
A recent Accounting Today guest column got me thinking. The author, a 20-year tax manager at a small regional firm, had been getting inundated with inquiries from recruiters desperate for talent. And while her pay would be substantially higher if she switched firms, she’d discovered that she’d be expected to work
Do you have an upcoming interview at your dream accounting firm? Or, are you just starting to do your research to see what accounting positions are currently being offered by firms in your area? Whatever the case may be, it is pertinent to be wholly prepared for the interview(s) you
Top 10 Firm Grant Thornton released its empower.x application, which guides entities through organizational changes. The new application will be used by GT professionals, leveraging data to provide a range of capacities related to internal organizational matters for their clients: Collect and store information on a client’s impacted stakeholder groups;
An estimated 99% of accountants have experienced burnout. Ongoing tax seasons, two years of COVID and being overworked have left many accountants and firm owners feeling worn out. When you’re drained and stressed, it’s not always easy to approach the workday with the same enthusiasm and passion as you once
An incorrectly formatted spreadsheet caused Iceland to price the sale of its Islandsbanki stake too cheaply earlier this year, an investigation by the National Audit Office has found. The sale of a 22.5% stake in the bank in March sparked a public outcry and led to the government pulling the
We have a short window during the next month where we can reduce tax season compression, have better served and happier clients, and make more money. I call this the “trifecta of tax season compression reduction.” Many of our clients and particularly our larger clients probably engaged in out of
The probability of Republicans gaining a narrow majority in the House after this week’s midterm election, combined with lingering uncertainty about which party will control the Senate next year, has tax experts hypothesizing what will happen in Congress during the lame-duck session through December and over the next two years.
