today's features

audit firms nervous about new tech

bar chart

a “speed revolution” is on the way. are you ready?

by 卡塔尔世界杯常规比赛时间 research

“progressive technology” is about to boom.

more: what accountants can learn from t-ball | staffing tops list of woes at cpa firms | why the dry pipeline? it’s about time | whole person retention: when it’s not just the money | seven enticements to keep talent on board | disruptors: talent crisis? what talent crisis? | seven steps to a stronger future | auditing standards ‘yellow book’ updated | compensation’s up, but up enough to retain staff? | cpas needed to help small biz adopt ai | survey shows that tech remains the great divide | will unclogging the accounting pro pipeline kill mobility?
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but are audit firms on the cusp of the boom-to-be? apparently not. a thomson reuters survey of audit firms finds that there’s still a big gap between ambition and execution. only 14 percent of auditors in the u.s. can brag that a “digital transformation” is well under way at their firms, though another 35 percent say they are starting to implement progressive tech.
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say adios to audit fee pressure

what client goes out for an audit proposal when their auditor provides relevant advice and useful suggestions?  

by alan anderson, cpa
transforming audit for the future

your client likely engaged your firm for an audit because they need an audit. but what is it that they want? they don’t want a stack of paper delivered months after year-end. like anyone else, they focus on “what’s in it for me?” or wiifm.

more: use eight audit exit items to deepen client relationships | exceptional audit client service demands effective communication | deliver more audit value by getting out of the conference roomknow your three audit w’splanning lays the foundation of audit relevance | how do we drive relevance in audit? | before the audit: more than just planning | are you correctly identifying the relevance intersection? | lack of relevance drives audit commoditization | five crucial attributes for successful audit leadership | traditional audits don’t deserve premium billing
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they want relevant ideas that will help them improve their businesses. they want to learn from you about your experience with others in their industry or in a similar situation. they want a relationship with you to talk about their business in plain english. they want someone who can explain the accounting standards and how they impact how they report their results.

remember our definition of relevance:

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the irs tidal wave is here

man silhouetted against open doorway in tidal wave

what you need to know now.

by eric green

for over a year now, we’ve been saying that the irs was properly funded and warned it would unleash a tidal wave of work. we also warned you that we would be dealing with all sorts of untrained employees. the bad news, at least for clients, is that day has come.

more: s corp clients beware | four ways to handle federal tax liens | the irs is coming! get your clients into compliance | tax chat: eric green reveals the tax rep guide to tax season | what i wish clients knew about tax liens | tax: explaining the bad news about canceled debt to clients | offers in compromise aren’t for everyone
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the good news for tax pros is that with this wave of enforcement spells opportunities for representation work. what you do still have to navigate is the impact of untrained employees, who are creating their own set of challenges.
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steve yoss: it’s time for a.i. to do the heavy lifting

the robots are here. put them to work.

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quick tech talk
with steve yoss
cpe today

there are so many incredible artificial intelligence (ai) tools out there. some of the leading companies in this space will be openai, microsoft, google, facebook, et.al. you know, the normal big technology firms. however, several really interesting and useful niche ai applications are popping up, many of which are inside the accounting space and other financial sectors.

click here for more steve yoss

now, these tools can be awesome because they can take tremendous quantities of data, process them in a meaningful way, almost in the blink of an eye, and give you the key insights you can use to know what’s happening inside your business. i like to say it helps you find hidden nuggets of wisdom, those little needles in the haystack that are not observable when you’re just looking at one or a week’s transaction. rather, we will see certain trends emerge when you look at potentially 1000s or even millions or more transactions. frankly, that’s not possible for a human to do. we can’t keep it all in our heads. but guess what, these ai tools can leverage large language models, generative ai, machine learning and more. they can do the heavy lifting for you. so you’re still in the driver’s seat interpreting that information, making it useful and meaningful for your client. but you’ve got these robot workers that can do the heavy lifting to save you a bunch of time.

accounting arc: what tech-savvy accountants know

redefining the accounting landscape.  


accounting arc 

with donny shimamoto and byron patrick
center for accounting transformation

integrating accounting and it expertise is becoming increasingly crucial in today’s rapidly evolving business landscape. in the latest episode of arc, hosts donny shimamoto, cpa, citp, cgma, and byron patrick, cpa, citp, cgma, explore the unique advantages of combining these two fields. 

more: accoounting arc: remote work from the coolest locations and its impact on modern professionals | accounting arc:breaking barriers – how becky dupree’s love for data analytics and her identity shaped her professional pathaccounting arc: forecasting finance & the 2034 accounting landscape | accounting arc: top 10 strategies for managing growth | accounting arc: busting the big 4 myth | accounting arc: exploring ai’s role in modern accounting | accounting arc: unraveling the collapse of silicon valley bank | on a mission: introducing accounting, reaction, comedy (arc) | harper & co. cpas: the perspective of a non-accountant is imperativemenlo innovations: improve office culture by overhauling internal reviews | dustin wheeler: for serious cas success, hire tech teams | chase birky: overcoming paralysis by analysis |

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their discussion highlights how professionals with dual expertise can navigate complex challenges, drive innovation, and achieve long-term success. read more →