Accounting

Companies that don’t receive tax services from their auditing firms to avoid compromising auditor independence could end up paying more in taxes, at least temporarily, according to a new academic study. Original Article Posted at : https://www.accountingtoday.com/news/avoiding-tax-services-from-audit-firms-proves-initially-costly-for-companies

Here’s what CPAs and their clients need to know when hiring an employee. Original Article Posted at : https://www.accountingtoday.com/opinion/advising-clients-hiring-household-help-during-the-coronavirus-pandemic

NCCPAP’s Stephen Mankowski offers an update on how the service is handling the pandemic. Original Article Posted at : https://www.accountingtoday.com/news/the-irs-is-back-to-its-new-normal

The Public Company Accounting Oversight Board announced that 234 U.S. accounting students were selected to receive $10,000 scholarships. Original Article Posted at : https://www.accountingtoday.com/news/pcaob-announces-2020-2021-scholarship-recipients

The dominant accounting firms must do a better job of challenging their clients in order to reach a satisfactory level of audit quality, the industry’s U.K. watchdog said. Original Article Posted at : https://www.accountingtoday.com/articles/big-four-urged-to-challenge-clients-as-audit-quality-slides-in-u-k

The European Union may delay digital tax proposals to give countries move time to hammer out a deal and avert a transatlantic trade war, a top official from the bloc said. Original Article Posted at : https://www.accountingtoday.com/articles/eu-open-to-prolonged-digital-tax-talks-to-avoid-trade-war

The Tax Court struck down four more abusive syndicated conservation easement transactions last week, prompting the IRS to call on any taxpayer involved in such transactions who receives a settlement offer from the Service to accept it soon. Original Article Posted at : https://www.accountingtoday.com/news/irs-victories-in-conservation-easement-cases-spurs-interest-in-settlement-offers

A group of five national tax authorities has been working together for the past two years on cooperating in the fight against tax crimes, with one man pleading guilty last week in Germany to fraud charges involving cryptocurrency. Original Article Posted at : https://www.accountingtoday.com/news/international-task-force-sees-success-in-cracking-down-on-tax-crimes

Managing cash flow has become the top priority for financial professionals as their businesses have seen significant drops in cash flow, revenue and profits amid the COVID-19 pandemic, according to a new survey. Original Article Posted at : https://www.accountingtoday.com/news/decreased-revenues-and-profits-weigh-on-finance-pros-during-coronavirus