Firm operations

TOPICS / FIRM PRACTICE MANAGEMENT

October 1, 2024

10 tips to help avoid wire fraud scams

CPA firms can protect themselves from falling victim to a wire fraud scheme by taking these actions before, during, and after payment processing.

September 1, 2024

Outsourcing and professional liability

CPA firms that outsource services need to understand what professional liability risks exist and what actions they can take to help mitigate those risks.

August 1, 2024

Single-owner firms: The thrill of flying solo

CPAs piloting their own accounting practices share their challenges, successes, and lessons learned.

August 1, 2024

Small firms find success with advisory services

Young and midcareer CPAs are embracing fresh approaches and modern technology to build flourishing CAS practices.

August 1, 2024

IRS funding and a potential rise in malpractice claims

The Service’s beefed-up audit capabilities provided under the Inflation Reduction Act focus on large entities and high-income taxpayers, but others may also face more audit risk, also exposing CPA tax preparers to malpractice claims.

July 1, 2024

Risk management creates more soft landings

In part 2 of a two-part series exploring the basics of negligence and professional liability litigation, learn why CPAs should interpret risk management advice through the lens of how negligence is litigated.

June 1, 2024

Falling hurts; so does litigation

In the first part of a two-part series exploring the basics of negligence and professional liability litigation, find out why CPAs should interpret risk management advice through the lens of how negligence is litigated.

May 1, 2024

Time for a tax practice tune-up

Building on busy season’s lessons learned, CPAs can turn to optimizing performance going forward.

May 1, 2024

Navigating the patchwork of pay transparency laws

The patchwork of state and local laws regarding pay equity can create compliance challenges for CPA firms that employ remote workforces, recruit nationally, or expand their geographical footprint.

February 1, 2024

Do names matter? Risk and the use of ‘merger’ or ‘acquisition’

Referring to an acquisition as a merger can have a serious impact on successor liability and inadvertently cause your firm to take on liability for services rendered by the acquired firm pre-transaction.

January 31, 2024

Finance leaders have trust issues with their data

Almost 40% of CFOs in a global survey do not completely trust the accuracy of their organization’s financial data, and trust is even lower for finance leaders who are closer to the numbers.

January 4, 2024

Gen AI, business model transformation, and more with AICPA & CIMA CEO

The CEO of AICPA & CIMA explains how the move by private-equity investors into accounting is just one step in firm transformation and why a world “devoid of trust” needs accountants.

January 1, 2024

Oh BOI: The Corporate Transparency Act and CPA firms

The self-reporting requirements of the Corporate Transparency Act will affect many small and midsize businesses as well as sole practitioners — the bread-and-butter client base for most CPA firms. CPAs may face professional liability risk for a client’s noncompliance with the law, which includes new reporting requirements related to beneficial ownership information (BOI).

January 1, 2024

Tips for a better tax season

Practitioners should address tax provision changes and practice management issues.

November 1, 2023

QM is approaching faster than you think — get ready

Tips to catch up on implementing new quality management standards that firms offering audit and accounting services need to put into practice.

October 1, 2023

Generative AI and risks to CPA firms

Generative artificial intelligence platforms such as ChatGPT provide many opportunities for CPA firms, but there are also risks that should be considered before jumping in.

October 1, 2023

Navigating change

Becky Munson, CPA, Partner, Cloud Accounting Services, Eisner Advisory Group, LLC, talks about her experience spearheading the process of combining two CAS practices due to a firm merger.

October 1, 2023

MAP Survey shows firms on upward trajectory

Benchmarking study finds revenue and profit growth, also identifies areas where accounting practices could bolster their appeal for talent.

October 1, 2023

Leveraging advanced tech

Dean Sonderegger, Senior Vice President and General Manager Research & Learning, Wolters Kluwer Tax & Accounting North America, discusses how AI is transforming the accounting profession.

September 5, 2023

ESOP exploration: Can the ‘new’ ownership model age well?

As one of the nation’s largest CPA firms announces the formation of an employee stock ownership plan, the managing partner at a midsize firm entering its third decade as an ESOP shares some perspective.

FROM THIS MONTH'S ISSUE

Flip out with the latest Tech Q&A

The September Technology Q&A column shows how to create dynamic to-do lists with Excel's checkboxes and also how to set up multifactor authentication texts that don't rely on phones. Flip through both items and view a video walkthrough in our digital format.