In the blogs: Ignorance of the law is no excuse
Taxes don’t pause; chaotic policy; larger tax burden; and other highlights from our favorite tax bloggers.
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SEC creates accounting unit in Enforcement
The specialized enforcement unit will pursue accounting and financial reporting fraud cases, as well as general misconduct in accounting and auditing.
IAASB proposes to revise audit standards for new tech risks
The International Auditing and Assurance Standards Board proposed revisions to three of its International Standards on Auditing.
IRS offers guidance on paid family and medical leave credit
The IRS and the Treasury issued guidance on the permanent extension of the employer tax credit for paid family and medical leave under the OBBBA.
Bonadio adds credit risk management firm
The Top 50 Firm will acquire T. Gschwender & Associates, expanding its ability to serve banks, credit unison and other financial institutions.
FASAB issues guidance on public-private partnerships
The Federal Accounting Standards Advisory Board released guidance on implementing the disclosure requirements for public-private partnerships.
IRS improper payments on tax credits increased last year
The IRS’s overall improper payment rate on refundable tax breaks increased from 21.9% in 2024 to 26.5% in 2025, totaling about $28.1 billion.
Ascend firms expand in California, New York
San Jose, California-based PP&Co acquired Ami Shah, and Mid-Atlantic Regional Leader LMC opened a new office with the addition of Ricky Spike and his team from Ives, Sultan & Spike CPAs.
Small business work hours grew in July
Growth in the number of weekly hours worked at small businesses hit its highest level in over five years last month, according to Paychex.
Advisory work doesn’t have a demand problem — it has a people problem
The top two blockers to advisory growth aren’t a lack of client demand — they’re internal.