ThomsonReuters

JUNE 16, 2023

Many of today’s tax and accounting practices are struggling with strained firm capabilities. Is your firm among them? More than half of respondents confirm that capacity challenges are constant in their firms and organizations — and workforce recruitment/retention is the most critical professional challenge,” the survey stated.

Accounting Firms 98

Accounting Firms Technology Marketability 98

ThomsonReuters

FEBRUARY 14, 2022

Every tax and accounting firm is unique, so there’s really no one-size-fits-all approach to hiring. However, there are seven key factors to consider before posting your next job advertisement. Understanding your company culture is a useful step in finding a new accountant who is the right fit for your firm.

Accounting Firms 92

Accounting Firms Finance Equity 92

Audit Board

OCTOBER 4, 2022

This article originally appeared on the ISACA blog. . As businesses continue to extend their digital footprints to support remote workers and deliver the products and services customers demand, the risk of a breach grows exponentially. Four Common Vulnerabilities to Address to Reduce Your Risk. Patch management.

Compliance 52

Compliance 52

ThomsonReuters

OCTOBER 24, 2023

Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge.

Technology 52

Technology Marketability 52

ThomsonReuters

APRIL 10, 2023

As a governance framework, CPR broadly includes the issues a company wants to take a stand on, how they will employ their resources and influence, and ensure transparency in doing so. With investors and stakeholders taking note , accounting firms are following suit. Why should accounting firms embrace corporate political responsibility?

Accounting Firms 59

Accounting Firms Marketability 59

ThomsonReuters

JANUARY 24, 2023

For firms, providing ESG audit certification is a great way to differentiate, expand their clientele base, and better meet the growing needs of clients. Underscoring this point, a survey by McKinsey and Co., found that investors are often uncertain about corporate sustainability disclosures because too few of them undergo third-party audits.

Accounting Firms 59

Accounting Firms Compliance Marketability 59

ThomsonReuters

AUGUST 3, 2021

Most accountants are not risk takers. When you start your own small firm, the confidence you have as a business owner may not be as strong as the confidence you have as an accountant. However, you can give yourself a boost of self-assuredness with these five keys to growing your business confidence.

Start-ups 52

Start-ups Accounting Firms Compliance Technology 52

ThomsonReuters

MARCH 8, 2021

Whether you’re starting your career, or you’ve been in the profession for a while, women have more opportunities than ever to rise above in the tax and accounting profession. How we find ourselves in a career such as tax and accounting isn’t always typical. Then, I took an accounting class, and the nerd I am, it clicked for me.

Start-ups 111

Start-ups 111

ThomsonReuters

APRIL 13, 2023

But while this certainly adds a dose of predictability to your revenue stream, retainer clients take your income consistency to another level. A retainer fee refers to money clients pay upfront to secure not just your services, but also your availability. You get predictable, periodic income.

Accounting Firms 59

Accounting Firms Finance 59

ThomsonReuters

APRIL 15, 2021

Tax and accounting firms are uniquely positioned to be strategic advisors and service providers for their clients—but CPA firms must evolve, too. Modern businesses face unique challenges when trying to grow and stay competitive in a rapidly changing business environment. Marketplaces are becoming tighter and competition fiercer.

Accounting Firms 96

Accounting Firms Compliance Technology Finance 96

Audit Board

OCTOBER 25, 2022

Organizations have experienced a surge in demand for better transparency regarding environmental, social, and governance (ESG) issues, compliance, and reporting. Download the full guide here , and continue reading below for an overview of the growing importance of planning for ESG integration in an evolving landscape. Both in the U.S.

Compliance 52

Compliance 52

ThomsonReuters

OCTOBER 6, 2023

Tax season is hard enough: you don’t need to make it harder on your team and clients with outdated technology and a stagnant process. That’s because traditional methods of data collection—paper organizers, portals, and file-sharing services—are extremely inefficient. leaving preparers to wait on key information late into tax season.

Technology 64

Technology Start-ups Accounting Firms 64

ThomsonReuters

JUNE 9, 2023

In this blog post, we’ll provide some tips on how to ensure your firm is audit compliant and up to date with the latest industry changes. By following these steps, your firm will have a smoother audit process with fewer compliance issues — resulting in greater profitability. How do you ensure audit compliance? compatible.

Compliance 98

Compliance Technology 98

ThomsonReuters

JULY 25, 2023

And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. – If you are still doing tax calculations manually, one way to determine if IDT automation will help is to look at your team’s error rate. If it’s 3% or higher, automation may help.

Start-ups 93

Start-ups Technology Compliance Finance 93

ThomsonReuters

JUNE 22, 2021

How then can IT leaders in large tax and accounting firms best make their case for new technology? For most people in accounting firms, driving change, and leading people through change is not a natural skill set for them. ” – you must first understand what your stakeholders value.

Accounting Firms 89

Accounting Firms Technology 89

ThomsonReuters

APRIL 6, 2021

Taking on a consultant role to help businesses through this evolution presents your firm with an opportunity to replace vanishing revenue from declining tax compliance work. It also offers an avenue to strengthen your relationship with clients. But how specifically can your firm help clients change to meet modern business needs?

Start-ups 64

Start-ups Compliance Technology Finance 64

ThomsonReuters

MARCH 13, 2023

LLC.  More recently, in April 2022, New Mountain Capital announced a majority investment in professional services firms Citrin Cooperman.  These investments marked a notable transformation in the profession, with the realization among private equity firms that investing in large accounting firms can yield great returns.

Equity 59

Equity Accounting Firms Private Equity Firm Technology 59

ThomsonReuters

FEBRUARY 16, 2024

The proper utilization and deployment of technological solutions alongside valued tax professionals is how successful tax departments deliver valued analysis, insights, and guidance for their organizations. Further, the Global Minimum Tax (GMT) (GloBE or Organization for Economic Cooperation and Development BEPS 2.0

Technology 96

Technology Compliance Start-ups Finance 96

ThomsonReuters

MARCH 21, 2023

Are members of your accounting team among them? In fact, the World Health Organization (WHO) has officially classified burnout as an occupational phenomenon. In fact, the World Health Organization (WHO) has officially classified burnout as an occupational phenomenon. This pattern continued into 2022.

Start-ups 52

Start-ups Finance 52

ThomsonReuters

JULY 11, 2023

Facing a rise in client expectations and an increasingly complex regulatory environment , a growing number of firms are looking to transform their practice and take their advisory services to the next level. Is your firm among them? Accounting professionals have long been trusted advisors for their clients.

Compliance 75

Compliance Marketability 75

ThomsonReuters

JANUARY 12, 2023

The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. . With advanced technology shifting the way accountants work, many are looking to expand into specialized services that can give them a leg up on the competition. Let’s start from the beginning. .

Technology 59

Technology Compliance Start-ups Accounting Firms 59

Audit Board

MAY 31, 2023

Often the team is laser-focused on growing the business and achieving its goals with little thought into establishing a well-controlled environment. Creating an internal audit function early in your company’s history can bring significant long-term benefits.

Start-ups 52

Start-ups Compliance 52

ThomsonReuters

JULY 30, 2021

For tax and accounting firms, the struggles of burnout employees are all too familiar. Stressed, burnt out, and unengaged employees are not capable of producing the high level work your firm needs to set itself apart. In order to rejuvenate your firm’s staff and inspire the work they do, leaders need to create a strong company culture.

Accounting Firms 52

Accounting Firms Compliance Marketability 52

ThomsonReuters

MARCH 17, 2022

With the number of college students enrolled as accounting majors hitting record numbers, there will be more accounting professionals from younger generations in the years to come. This raises the question of how to manage millennial and Gen Z accountants. Millennial and Gen Z accountants want to do meaningful work.

Accounting Firms 52

Accounting Firms 52

ThomsonReuters

DECEMBER 21, 2021

As we head into the new year, tax and accounting firms are emerging from the COVID-19 pandemic just in time to face an onslaught of new challenges. Our 2022 Strategic Planning Guide for tax and accounting firms offers guidance on addressing a variety of challenges so you can enter the new year with a sense of preparedness.

Accounting Firms 52

Accounting Firms Finance Marketability 52

Audit Board

JUNE 28, 2022

Organizations with immature risk management environments are facing challenges to evolve. With minimal historical risk information to build upon and little to no pre-existing enterprise risk management (ERM) process, it’s difficult to see organization-wide risk clearly or ensure appropriate follow-through. De-silo Risk Activities.

Start-ups 52

Start-ups Technology Marketability 52

Audit Board

SEPTEMBER 29, 2023

For insurance organizations, staying ahead of cyber risk should be a top priority to safeguard business growth and expansion opportunities. In today’s data-driven business environment, ineffective cyber risk management can pose a serious threat to achieving strategic business objectives.

Compliance 52

Compliance Technology Finance Marketability 52

ThomsonReuters

FEBRUARY 1, 2023

Compliance is and will always be a key component of any well-run supply chain — after all, fall afoul of regulations and watch your organization pay stiff penalties, potentially risk costly delays, legal exposure, reputational damage, and even loss of trading privileges. Nor is this a trend on the decline.

Compliance 59

Compliance Technology Marketability 59

ThomsonReuters

JULY 6, 2023

Are you an accountant looking to break into the exciting world of mergers and acquisitions (M&A) advisory services? Why should accountants get into M&A advisory? An accountant’s background provides the ideal foundation to understand and navigate complex transactions.

Discounted Cash Flow 52

Discounted Cash Flow Start-ups Private Equity Firm Accounting Firms 52

ThomsonReuters

APRIL 19, 2022

Organizations have acknowledged this desire for remote work, and some are adopting a hybrid work model. Accounting firms need to consider this as their workers begin to return to the office. Tax and accounting firms need to invest in learning and development for their employees to retain talent and address succession issues.

Accounting Firms 97

Accounting Firms 97

ThomsonReuters

SEPTEMBER 8, 2023

Anyone starting a business should consult a qualified tax professional, such as an accountant or tax attorney, for advice on which corporate structure best fits their goals—but it helps to understand some of the factors that typically influence such decisions. What are the main types of business ownership? What is a C Corporation?

Start-ups 75

Start-ups Compliance Dividends Business Enterprise 75

Audit Board

AUGUST 1, 2023

The stakes and expectations of an organization’s IT Risk Management capabilities have never been higher – and as we all know, the dollar impacts are real. IT Risk Management practices can have a significant positive impact on an organization’s information risk posture, with a focus on inventorying, identifying, and prioritizing risks.

Technology 52

Technology Start-ups Compliance Marketability 52

Rhythm Systems

JUNE 30, 2023

CEOs worry about managing growth and growing predictably. People Next, CEOs are concerned about hiring, employee engagement, accountability, leadership and performance management. How do you organize and lead the change initiatives across the company? Execution Successfully executing new strategies, projects, and plans.

Marketability 52

Marketability 52

Audit Board

SEPTEMBER 14, 2023

The importance of robust vendor risk management, or “VRM”, practices has been illustrated by a number of cyberattacks and data breaches that have originated from vendors and gone on to significantly impact the organizations using their services. What is Vendor Risk? What Types of Vendor Risk are There?

Compliance 52

Compliance Start-ups Accounting Firms Technology 52

ThomsonReuters

JUNE 8, 2023

In today’s competitive audit landscape, organizations must stay ahead of the curve to ensure they have the best audit staff in their workforce. This blog post will provide an overview of these three strategies that are essential for successfully recruiting and keeping top talent in the audit industry.

Technology 52

Technology Data Analysis 52

Audit Board

JUNE 23, 2022

Despite your organization’s best ransomware prevention efforts , you may be unable to prevent a cyberattack from succeeding. As the threat grows unabated, limiting the depth and severity of an attack often depends on your company’s response efforts. Activate your breach response plan. . Engage legal counsel. .

Compliance 52

Compliance 52

ThomsonReuters

OCTOBER 12, 2023

For accountants, understanding how to navigate foreign asset reporting is essential, as the IRS requires taxpayers to report certain foreign assets to ensure compliance and combat tax evasion. The aggregate value of your specified foreign financial assets is more than the reporting thresholds that applies to you. Generally, any U.S.

Compliance 40

Compliance Banking Dividends Technology 40