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FASB Issues New Segment Reporting Guidance

November 27, 2023 The Financial Accounting Standards Board recently issued a final Accounting Standards Update intended to improve disclosures about a public entity’s reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses.

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IRS Modernization – Preparing Clients

November 15, 2023 Internal Revenue Service (IRS) procedures seem to be outdated due to a lack of technology. On a good day, one can call the IRS and only wait on hold for an hour or two before speaking to an agent who may request a form be faxed. A tax professional may have spent half their workday by the time the situation is resolved or a plan of action has been established.

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Implementing AI in Financial Audits

November 15, 2023 As we navigate an environment with rapidly changing technological advancements, the audit world will need to integrate artificial intelligence (AI) into its approach to enhance accuracy, efficiency and insight.

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