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News
Why accounting firms should benchmark their hiring
5+ day, 22+ hour ago (805+ words) It's no secret that accountants love benchmarking. Internally, accounting firms benchmark their revenue per employee or productive hours against industry averages because benchmarking provides context. Yet few apply the same discipline to one of their biggest investments: their people. Recruiting…...
On the move: RKL installs new CEO
1+ week, 1+ day ago (148+ words) Mike De Stefano has taken the helm at RKL; The Bonadio Group named Cailee Medina its new chief human resources officer; Rea appointed Tory Spadafora its first-ever chief growth officer; and other firm and personnel news from across the profession....
Tax Fraud Blotter: Keep on truckin"
1+ week, 2+ day ago (1210+ words) Philadelphia: Daniel A. Pallen, 46, of Springfield, Pennsylvania, entered a plea of guilty to one count of tax evasion and one count of mail fraud, arising from his submission of over $400,000 in fictitious checks to evade payment of his federal taxes and…...
Statement on Proposal to Rescind “Pay-to-Play” Rule
1+ week, 2+ day ago (182+ words) However, since its adoption, it has proven only to be needlessly penalizing, burdensome and complex to implement, and misaligned with the SEC’s mandate. To that end, our proposal would rescind the political contribution rule in its entirety and amend the…...
The AI skills gap in accounting is structural, not technical
1+ week, 3+ day ago (408+ words) Since generative AI entered mainstream conversation, disruption has dominated the headlines. Will automation eliminate accounting jobs? Will finance teams get leaner, smaller and further removed from the strategic table? For many of us, AI has stopped being an isolated pilot…...
False info, real problems: Can accountants tame AI hallucinations?
1+ week, 3+ day ago (693+ words) Despite the rise of stringent governance and rigorous control structures, the infamous tendency of artificial intelligence to occasionally generate false information, also known as "hallucinations," remains stubbornly untamed by even the world's largest accounting firms. What becomes clear then is…...
Tax Fraud Blotter: Get your stolen checks here
2+ week, 2+ day ago (1100+ words) Philadelphia: Alexander Telewoda, 26, of Clifton Heights, Pennsylvania, was sentenced to 78 months in prison, three years of supervised release, restitution of $10,841,731.83 and forfeiture of $162,144.50 for conspiring with three others to steal and sell thousands of U.S. Treasury checks. The defendant was charged…...
Guggenheim's Walsh says accounting at GPI unit was 'appropriate"
2+ week, 4+ day ago (353+ words) Guggenheim Partners is working with regulators as they probe a business accounting issue at one of its subsidiaries, according to Anne Walsh, chief investment officer of the firm's asset-management business. "We have been very open with regulators and very cooperative…...
Northeast firms merge as BST Gallagher Flynn
3+ week, 3+ day ago (159+ words) The combined firm will launch under the name BST Gallagher Flynn, a regional accounting and advisory firm serving clients across the Northeast. The firm brings together over 230 employees across offices in New York, Vermont, New Hampshire and India. Latham, New…...
Firm files patent on service contract and warranty accounting
3+ week, 5+ day ago (288+ words) Kerper Bowron LLC, an actuarial, accounting, and insurance consulting firm based in Birmingham, Alabama, and Irish Trinity LLC have filed U.S. and international patent applications for what they call Kerper-Bowron Method — a way to forecast and account for liabilities for service…...