article thumbnail

Statement by Chair Gensler on PCAOB’s Determinations Regarding Public Accounting Firms in China

Harvard Corporate Governance

Today, the Public Company Accounting Oversight Board (PCAOB) announced that it was able, in 2022, to inspect and investigate completely issuer audit engagements of PCAOB-registered public accounting firms headquartered in China and Hong Kong. standards, as required under the Sarbanes-Oxley Act.

article thumbnail

How do different accounting firms use AI?

ThomsonReuters

Jump to: How many accounting firms use AI? How do smaller accounting firms use AI? In today’s fast-paced business world, ignoring technology is not an option, and the field of accounting is no exception. How many accounting firms use AI? How do the Big 4 use artificial intelligence?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Value-based versus fixed-fee pricing for accounting firms

ThomsonReuters

Historically, accounting firms have operated under a transactional billing model, providing once-a-year services primarily focused on tax compliance and reporting. As with value pricing, these prices will likely evolve as you better grasp what it costs your firm to complete each task.

article thumbnail

Why accounting firms should become business advisors

ThomsonReuters

As accounting firms look to differentiate themselves from the competition, one trend is leading the way: business advisory. From advising on mergers and acquisitions to specializing in accounting and advisory in your clients’ specific industry, there are many ways to take advantage of this unique opportunity.

article thumbnail

4 financial consulting services accounting firms should quickly add

ThomsonReuters

Many accounting firms provide invaluable services that go far beyond tax prep and financial reporting. For small to mid-size accounting firms that want to explore other revenue streams, accounting consulting services can be a great place to start. 2. Financial compliance.

article thumbnail

Year-end tax planning strategies: How to set your accounting firm up for success

ThomsonReuters

In an era of staffing shortages and scarcity of technical tax professionals , accounting firms must increasingly look outside the box to fill gaps in talent. Many firms are shifting their hunt for talent beyond the traditional accounting background.

article thumbnail

How accounting firms can fill talent gaps with technology

ThomsonReuters

With The Great Resignation accelerating staffing challenges for accounting firms of all sizes, it might be time to look for a non-traditional new hire: technology. Many firms have historically employed dedicated staff to manage specific manual tasks and processes. Ready for an engaged team and enhanced client relationships?