Framework provides starting point for gen AI governance
A coalition of accounting educators and tech leaders released a generative AI governance framework as a starting point for organizations.
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SCOTUS rules mandatory repatriation tax constitutional
In a narrow holding, the Supreme Court upheld the provision, but emphasized that the ruling did not have broader implications.
Communicate a scheduled tax season to your clients and team
When you announce the new tax season to your clients, let them know it’s a new benefit you’re offering.
BDO releases audit quality report, adds to advisory council
BDO USA released its 2023 Audit Quality Report Tuesday as it added a second independent member to its Audit Quality Advisory Council.
Lawmakers propose windfall profits tax on companies inflating prices
Sen. Bernie Sanders and Ed Markey are introducing legislation to impose a 95% windfall tax on the excess profits of large corporations that are overcharging for products.
IRS lowered its sights on high-income taxpayer audits
The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.
The critical role financial planners play when 401(k) savers switch jobs
Many plan participants told the U.S. Government Accountability Office they didn’t understand their four main options — or the potential tax consequences.
Art of Accounting: Where are you going?
Planning is essential in any endeavor, especially in an accounting practice.
Ex-banker’s tax evasion trial ends over his poor health
Former Warburg banker Christian Olearius has been found permanently unfit to stand trial, so the court dropped the case.
Only 1.6% of orgs had no cyber vulnerabilities
After 500 internal penetration tests conducted from 2021-2023, RSM professionals found only 1.6% of organizations had no vulnerabilities at all. Most had around eight.