Accounting Today, an Arizent brand, is the independent news and information resource for tax and accounting professionals.
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ChatGPT retook the CPA Exam after failing the first time (not so different from the 50% of people who fail their first attempt) and passed comfortably after using version 4.0. trib.al/MO3UBsQ #chatgpt
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An activist group that has been protesting the military takeover of the Myanmar government is urging international audit institutions to end all contact with Myanmar's auditor general. trib.al/nk0VlDv
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The accounting profession is closely watching the recent introduction of the Halting International Relocation of Employment, or HIRE, Act in the U.S. Senate. This proposed legislation could fundamentally reshape how CPA firms approach international outsourcing. bit.ly/3V9oYiz #accounting #outsourcing
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ChatGPT has finally met its Waterloo in the form of an accounting class. The AI chatbot did not merely do poorly either. With a score of 47.4%, it utterly bombed, not even getting a D grade. trib.al/mYM3E5r #accounting #ChatGPT
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You're preparing to potentially put your business up for sale and now you've reached a critical moment: bringing in a prospective buyer, writes @GeneMarks How do you protect yourself? Should prospective buyers sign an NDA? Not so fast. trib.al/zIlzPeF
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PwC @PwCUS announced that its PwC Charitable Foundation will donate new grants totaling $2.85 million to organizations supporting communities impacted by COVID-19. trib.al/RFl8hyT
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The #IRS decided to destroy an estimated 30 million paper-filed information return documents in March 2021 because of its inability to process its backlog of paper #tax returns, according to a new report. trib.al/PVnEEw2
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.@PwCUS is encouraging its employees to use their vacation days by actually paying them an extra $250 to do it, while also giving them salary increases and bonuses. trib.al/xNS4iCt
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The Institute of Management Accountants @IMA_News said it would drop out of an accounting conference in Singapore that it was scheduled to participate in this month, one among several groups to withdraw because of the involvement of Myanmar officials. trib.al/haDHbA5
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Big Four firm PricewaterhouseCoopers @PwC_LLP announced a number of new benefits this week for staff members, with a particular focus on new families and personal well-being. trib.al/pfyifWs
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Clients don’t care how much you know about accounting; they care how much you know about their situation. Don’t be a numbers person. Here's how to become a ‘complexity filter’ for your clients. trib.al/XZ2X3BU
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The Institute of Management Accountants @IMA_News said it would drop out of an accounting conference in Singapore that it was scheduled to participate in this month, one among several groups to withdraw because of the involvement of Myanmar officials. trib.al/1lbgB41
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Forensic accountants helped the FBI uncover the college admissions cheating scheme trib.al/NBCtj6U
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ChatGPT has already conquered numerous tests–the Wharton MBA exam, the bar exam, and several AP exams among others. But the talking bot met its match when Accounting Today ran it through the CPA exam and failed utterly in all four sections. trib.al/RGMcXmQ #ChatGPT
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ChatGPT has finally met its Waterloo in the form of an accounting class. The AI chatbot did not merely do poorly either. With a score of 47.4%, it utterly bombed, not even getting a D grade. trib.al/ZEp1tS2 #accounting #ChatGPT
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Power users are getting more tools in their favorite spreadsheet program; @Microsoft stops taking partner's checks; @Zoom evolves; voice-activated payroll at @Paychex; and six other things that happened in technology this past month, from @GeneMarks trib.al/qaPfjT3
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QBO Advanced launched by Intuit, and nine other developments in technology this past month and how they'll impact your clients and your firm. and other tech stories you may have missed, from @GeneMarks trib.al/XtSkl9t
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IRS Commissioner Danny Werfel reported progress on the agency's efforts to increase audits of large corporations, complex partnerships and high-income individuals, collecting over half a billion dollars from millionaires who didn't pay their taxes. trib.al/LqLigBK
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The @AICPA Foundation has launched a scholarship to help CPA Exam candidates cover the cost of their exam fees and/or prep courses. trib.al/9CHfR9n
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An activist group that has been protesting the military takeover of the Myanmar government is urging international audit institutions to end all contact with Myanmar's auditor general. trib.al/jOL3SCC
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The 150-hour requirement for obtaining a CPA license has led to a decline in Black and Latino CPAs of up to 26%, according to a research study. trib.al/9e9ioKZ
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PwC's new U.S. assurance leader, starting July 1, is chief diversity officer Maria Moats. trib.al/ppq8Igs
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The Succession Advisor: If you or a client of yours is planning on selling a company, here are 24 documents you're going to have to show to any prospective buyer. Are you prepared? asks @GeneMarks trib.al/FOMnNIj
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.@CPAAustralia and the @Chartered_Accts of Australia and New Zealand are withdrawing from the ASEAN Federation of Accountants conference in Singapore due to the presence of Myanmar officials, but other accounting organizations haven't followed suit. trib.al/H9INbvL
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The Big Four #accounting firms will have to separate their #audit units from other operations in the U.K. by June 2024 as Britain's Financial Reporting Council reacts to shortcomings that led to the collapse of several companies. trib.al/2BNtidq
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You're preparing to potentially put your business up for sale and now you've reached a critical moment: bringing in a prospective buyer, writes @GeneMarks How do you protect yourself? Should prospective buyers sign an NDA? Not so fast. trib.al/tyEk1FR
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Deloitte LLP was fined 4.3 million pounds ($5.4 million) for its failure to properly audit the accounts of a unit of Serco Group Plc in the latest case of a Big Four firm being sanctioned for its accounting shortcomings. trib.al/fO98iPD
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New AI courses from Amazon, questions about ChatGPT's accounting credentials, the best laptops of 2023, and other major developments in technology from the past month and how they'll impact your clients and your firm, from @GeneMarks trib.al/APMrVzU
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Accountants to Watch: Cortlon Cofield grew up on the South Side of Chicago, and lost both of his parents before he turned 17. But he earned his CPA license, worked at KPMG and Northern Trust and is starting his own firm to help millennial clients. trib.al/2K2H7YH
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Luca Pacioli’s groundbreaking text on bookkeeping, accounting and mathematics, “Somma di arithmetica, geometria, proporzioni e proporzionalità,” also known as the "Summa de arithmetica," sold for $1,215,000 at an auction at Christie’s in New York trib.al/lPt0Tkc
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PwC U.S.'s new tax leader Roy Weathers plans to increase diversity in PwC's tax practice. trib.al/PWivwYV
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Artificial intelligence is being used to generate scams targeting tax refunds, Google is making massive changes to Chrome, and 8 other things that happened in technology this past month, from @GeneMarks. trib.al/yVXEswX
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What are accounting firms looking for in the next generation of new talent? trib.al/vBaWpb8
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Senator @BernieSanders plans to introduce legislation to #tax what he called the “obscene wealth gains” from billionaires during the #coronavirus crisis trib.al/CbVIK0H
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Job hopping is sure paying off for many accounting and finance professionals. bit.ly/17ng7Q4
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The International Federation of Accountants @IFAC has named its first-ever board that has a majority of female members.
trib.al/vtL4oVC
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The number of countries reporting their financial positions on an accrual basis is expected to increase from 37 to 98 by 2023, jumping from 25 percent to 65 percent, according to a new report from the @ACCANews and @IFAC . trib.al/w9aq3Oq
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The International Federation of Accountants @IFAC has released a set of recommendations for achieving high-quality audits as regulators around the world push for more thorough audits to avoid accounting scandals. trib.al/2FjvsSY
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The @AICPA joined with more than 170 organizations in asking congressional leaders to allow businesses to write off expenses associated with loan forgiveness under the Paycheck Protection Program #PPP. trib.al/7MTB8Rr
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FASB’s recent accounting standard on production costs for movies and television episodes provides more clarity in an age when viewers are streaming video online and binge watching their favorite series. Get ready for the changes before next year. trib.al/c5hfyW5
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A 36-year-old accountant at a financial firm was called in as a last-minute replacement for a Chicago Blackhawks goalie in a National Hockey League game, and managed to make seven saves without letting a single puck in the net. trib.al/fgdlcCD
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Skateboarding legend and entrepreneur Tony Hawk told the audience at the AICPA's Engage conference about how his accountant has helped him and how accountants can help small businesses grow by taking risks like he did. trib.al/rcsHmKD
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Mississippi State University's Richard C. Adkerson School of Accountancy is updating its undergraduate and graduate programs to give students a more future-forward curriculum. trib.al/6pIeAba
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The National Association of Black Accountants @NABAinc is hoping to expand its partnerships with accounting firms and corporate America to bring more diversity to the #accounting profession. trib.al/NB8Kq8c
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Big Four firm EY has debuted the Crypto-Asset Accounting and Tax (CAAT) tool, a technology solution designed to facilitate accounting and tax calculations for cryptocurrency transactions. trib.al/WHK2v4N
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The International Ethics Standards Board for Accountants has introduced eCode, a web-based version of the International Code of Ethics for Professional Accountants. trib.al/T4MOb10
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Skateboarding legend and entrepreneur Tony Hawk told the audience at the AICPA's Engage conference about how his accountant has helped him and how accountants can help small businesses grow by taking risks like he did. trib.al/Hf0KZbk
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ChatGPT has already conquered numerous tests–the Wharton MBA exam, the bar exam, and several AP exams among others. But the talking bot met its match when Accounting Today ran it through the CPA exam and failed utterly in all four sections. trib.al/EWJmVLi #ChatGPT
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Robotics is expected to eliminate 40 percent of basic accounting work by 2020. We’re in the early stages of the big data and artificial intelligence revolution in accounting, which already is being wholeheartedly embraced at the larger firms. trib.al/XZ717mm
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Accountants are, behind doctors, the top most trusted professional in the country — and this trust is a major opportunity to become assurance leaders of the future, according to AICPA EVP Susan Coffey. trib.al/lZYqNC3
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.@KPMG plans to become a net-zero carbon neutral organization by 2030. trib.al/r2qtEll
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You might view yourself as an Excel expert, but there's always room for improvement. You could save hours of time with two functions: IF and VLOOKUP. trib.al/UFtedjG
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The International Ethics Standards Board for Accountants has released a set of revisions to the International Code of Ethics for Professional Accountants, making some changes in the independence standards for assurance engagements. trib.al/7P2oTm6
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The Institute of Internal Auditors @TheIIA reported a milestone Monday, with membership numbers now topping 200,000. trib.al/Ad3cDBI
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.@DeloitteTax has entered a deal with Tax Analysts, publisher of the @TaxNotes product portfolio, to make the nonprofit’s federal #tax law library available to the public. trib.al/MuSXtse
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Clients don’t care how much you know about accounting; they care how much you know about their situation. Don’t be a numbers person. Here's how to become a ‘complexity filter’ for your clients. trib.al/J5HHO3f
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KPMG’s audit work in the U.K. is of an unacceptable standard, Britain’s accounting regulator said, fueling calls to reform the industry, including dismantling the Big Four players. trib.al/LjZcRYR
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NASBA is giving CPA candidates up to 30 months to complete a CPA exam after passing the first section of the test without losing credit, but individual state boards will still need to agree to the change. trib.al/D29BCJG #accounting
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.@BDO reported Thursday that total combined fee income worldwide across its network of firms reached $9.6 billion for the fiscal year ending Sept. 30, 2019, representing year-over-year growth of 10.1 percent, up from 8.3 percent growth in 2018. trib.al/uX4Ni2v
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A slideshow on summer reading for accountants. trib.al/vzKIiKJ
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Deloitte and its Deloitte Foundation have pledged $1 million towards accounting PhD candidates and educators. trib.al/dSYWc82
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Jimmy Chilimigras, a 15-year-old student from Mississippi, just became the youngest person to pass the CPA exam. trib.al/7kqTDz7 #accounting
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BKD @BKDLLP, a Top 100 Firm based in Springfield, Missouri, is adding Stayner Bates P.C., a firm in Salt Lake City, effective June 1, 2019, extending the firm’s footprint to Utah. trib.al/rdT3snl
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The IRS failed to tell nearly half a million victims of identity theft last year their information was being used by others for employment purposes, according to a new report, which attributed the failure to a computer programming error. trib.al/hreN2VQ
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Audit committees that include a former partner from a Big Four firm that audits their company can still retain their independence and have high-quality audits, according to a new study. trib.al/ASZVGDz
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A former PwC employee, convicted after revealing details of how some of the world's biggest companies dodged taxes by setting up a base in Luxembourg, won his bid to be recognized as a whistleblower rather than a criminal who stole private data. trib.al/sm0R9gg #tax
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.@KPMG_US unveils newly relaxed employee policies to make the remote work environment less stressful and fatiguing. trib.al/HPvjel9
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Ernst & Young has acquired cryptocurrency technology and patents from Elevated Consciousness, a San Francisco-based startup that focuses on digital currency. trib.al/sCSIycF
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Accounting Today's weekly roundup of news about accounting firms. bit.ly/1y8rTmS
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The International Ethics Standards Board for Accountants @Ethics_Board has released a new code of #ethics for #accountants that’s been rewritten to make it simpler to navigate, use and enforce. trib.al/EiTYuIP
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The way in which bookkeepers work has changed significantly over the years. Technology is breathing new life into the profession and transforming the role bookkeepers can play for the future of small businesses. trib.al/wTwF1K0
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After 14 years of debate, the SEC is in the final stages of bringing a powerful new surveillance tool known as the Consolidated Audit Trail fully online. But Wall Street is seizing on the ideal political environment for a last-ditch attempt to kill it. trib.al/gOIHvoj
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.@NASBA and the @AICPA have proposed a new CPA licensure model designed to "evolve newly licensed CPAs’ knowledge and skills, protect the public interest and position the CPA profession for the future," according to an announcement from the new groups. trib.al/LEPJK6p
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The impact on the accounting profession of technologies like robotic process automation, artificial intelligence and blockchain over the next five years will be nothing short of profound, according to the leaders of the Top 100 Firms. trib.al/0yIDsWL
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Deloitte is facing an investigation by the U.K.’s Financial Reporting Council into its audits of financial statements by Lookers, a chain of car dealerships in the U.K. trib.al/bTGbNcH
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KPMG's U.K. firm was fined 3.5 million pounds ($4.24 million) for misconduct over reports on Bank of New York Mellon Corp. trib.al/bQhJOtw
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From @DoorDash to @GoogleCalendar: See the top 12 📱 apps to help keep you organized AND sane this tax season: trib.al/RC0agAT #advt
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ChatGPT has finally met its Waterloo in the form of an accounting class. The AI chatbot did not merely do poorly either. With a score of 47.4%, it utterly bombed, not even getting a D grade. trib.al/RR7RvN2 #accounting #ChatGPT
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Jimmy Chilimigras, a 15-year-old student from Mississippi, just became the youngest person to pass the CPA exam. trib.al/gzDcumS #accounting
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Cathy Engelbert, the outgoing CEO of Deloitte who was the first-ever woman to helm a Big Four firm, has been named the next commissioner of the Women's National Basketball Association. trib.al/QkCqsX5
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Among CPAs, it’s common to hear a major piece of tax legislation called “The Accountants’ Full Employment Act” -- and the Tax Cuts and Jobs Act is no different. trib.al/VJmlCqr
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Ernst & Young has appointed Kelly Grier as EY US chairman and managing partner-elect, as well as EY Americas Area managing partner-elect, succeeding Steve Howe, who has run EY’s U.S. firm since 2006. trib.al/RX90QQ0
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Forensic accountants helped the FBI uncover the college admissions cheating scheme trib.al/1htqBgq
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KfW, Germany’s third-largest bank by assets, may drop Ernst & Young as #auditor as EY continues to be plagued by its role in the country’s Wirecard #accounting scandal. trib.al/JptV7dU
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The Supreme Court has agreed to hear a case involving U.S. taxation under FATCA of of expatriates living abroad. Alexandru Bittner v. United States is about some of the #tax and compliance rules the U.S. slaps on its own expats. trib.al/HkaIyrb
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The #IRS has pushed back the #tax-filing deadline until May 17 after heavy pressure from Congress and tax and accounting groups. trib.al/bvv5TNf
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The IRS and the Treasury Department unveiled Friday a draft version of the postcard-size Form 1040 that was promised from last year’s tax reform effort. trib.al/KhH4cE5
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How artificial intelligence is optimizing efficiencies in accounting trib.al/ePfdJux
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Special report: The top 100 most influential people in accounting. The thought leaders, change-makers, regulators and other leaders who are shaping the profession, and the issues that they face as they chart the future of accounting. trib.al/MYUS7lX
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Business owners, and their accountants, can rest a bit easier: the IRS has given them the long-anticipated final regulations on the 20% Section 199A deduction for pass-through entities. trib.al/cx8fm9f
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On April 1, CPA firm Watts, Taber and Fiske found a viable option for dealing with the talent shortage, raising the minimum age for partner retirement from 62 to 85, writes @KristenRampe. trib.al/APuccqL
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Accountants to Watch: Dr. Sean Stein Smith. An assistant professor at Lehman College, he has been explaining the intersection of accounting and technology to accountants for a long time, authoring dozens of articles and six books. trib.al/UxRvLkm
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The @AICPA and @NASBA will unveil the new #CPA Evolution Model Accounting Curriculum during a free, online launch event in June, co-hosted with the American Accounting Association @aaahq. trib.al/06lCUrI
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