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6+ hour, 58+ min ago (117+ words) Extension battle goes on; flipping out; correcting clients' misinformation; and other highlights from our favorite tax bloggers. Fun's in the journey " Public Company Accounting Oversight Board officials are sounding a cautious note about the spread of artificial intelligence and private equity at audit firms. The Chicago-based firm has acquired New York- based accounting firm Farkouh, Furman & Faccio. The most influential people in the field, as chosen by their peers. Pilot's Local Partner Program provides software and automation capabilities, as well as advisory services and sales enablement tools, to independent bookkeepers and accounting firms. HTL International netted the most new Securities and Exchange Commission engagements in the third quarter of 2025, followed by CBIZ and KPMG....

8+ hour, 13+ min ago (461+ words) The scale of these misaligned values is well documented. Some 86% of businesses report up to 30% of their monthly invoiced sales remain overdue even though automation has been proven to reduce Days Sales Outstanding by double digits. Further, nearly 85% of firms rely on partially manual AR processes despite the cost of delayed cash intensifying in an elevated interest-rate environment. Fortunately, AI is fundamentally changing the AR function, transforming receivables from a reactive process into a predictive one. What's missing isn't team capability but recognition that AR modernization solves the problems finance leaders deal with daily: cash flow predictability, customer retention and capital efficiency. Receivables are often treated as routine work post-sale, which means they rarely compete for investment against growth initiatives. On the contrary, research from McKinsey shows companies integrating predictive analytics into order-to-cash processes can improve working capital efficiency by…...

9+ hour, 18+ min ago (492+ words) Andersen Group Inc., the U.S. arm of the professional services firm that succeeded the shuttered accounting giant Arthur Andersen, is seeking to raise $176 million in an initial public offering." The company plans to market 11 million shares for $14 to $16 each, according to its filing Monday with the Securities and Exchange Commission." At the top of that range, Andersen would have a market value of around $1.75 billion based on the outstanding shares listed in its filing. The San Francisco-based company had net income of $65.7 million on revenue of $668.3 million for the nine months ended Sept. 30, compared with net income of $144.5 million on revenue of $589.2 million for the same period a year earlier. The consultancy was founded by former Arthur Andersen partners following that firm's collapse, the website shows. The current firm was launched under a different name in 2002 and adopted the Andersen brand…...

12+ hour, 51+ min ago (165+ words) As part of our annual Top 100 Most Influential People in Accounting list, Accounting Today asks candidates to name who they think are the most influential people in the field, and here they are, ranked by the number of votes they received from the 151 candidates. The top nine are listed below, and you can see Accounting Today's full list of the Top 100 here. The most influential people in the field, as chosen by their peers. Pilot's Local Partner Program provides software and automation capabilities, as well as advisory services and sales enablement tools, to independent bookkeepers and accounting firms. HTL International netted the most new Securities and Exchange Commission engagements in the third quarter of 2025, followed by CBIZ and KPMG. In collaboration with Kintsugi, Vertex and CPA.com are giving accountants an AI solution for sales tax compliance. Morningstar's study of…...

12+ hour, 54+ min ago (195+ words) Pilot, an AI-powered bookkeeping and advisory provider for small- to midsized businesses and startups, today launched a partner program. The Local Partner Program provides Pilot's software and automation capabilities, as well as advisory services and sales enablement tools, to independent bookkeepers and accounting firms. It also connects its partners with pre-qualified prospects to help grow their businesses, managing the lead-generation process by matching bookkeepers with customers based on specialties and locations." The program is available now to firms across select cities, with plans for nationwide expansion in the coming year." The most influential people in the field, as chosen by their peers. Pilot's Local Partner Program provides software and automation capabilities, as well as advisory services and sales enablement tools, to independent bookkeepers and accounting firms. HTL International netted the most new Securities and Exchange Commission engagements in the third…...

14+ hour, 1+ min ago (348+ words) The third quarter of 2025 saw a return to a more normal level of new Securities & Exchange Commission audit client engagements, with HTL International taking the lead. The Houston-based firm added and netted seven new SEC clients, four of which came over from Top 100 Firm Grassi & Co. thanks to a corporate combination between special purpose acquisition company Alset International and lifestyle company HWH International. (See "Net engagement leaders.") Top 10 Firm CBIZ CPAs actually brought on more new clients, with 11, but only netted five. Six of those engagements came from Marcum; the merger of the two billion-dollar firms had driven massive numbers of audit changes in the first two quarters of the year, but the ripples of that are dying down, leading to a reversion to more normal levels of client transfers. Among the largest firms, meanwhile, KMPG lead the way, adding…...

17+ hour ago (258+ words) Prosperity Partners, a Chicago-based firm backed by private equity firm Unity Partners, has acquired New York-based Farkouh, Furman & Faccio, a provider of tax, attest, accounting and business consulting services." The deal brings Prosperity a dedicated audit team and international tax expertise to benefit Prosperity's existing clients. The partnership also establishes Prosperity with a new flagship office in New York City, although its headquarters will remain in Chicago." Financial terms of the deal were not disclosed. Prosperity has reached approximately $75 million in pro forma revenue, 242 staff members, of whom 37 are partners, and 10 offices including the FF&F office in Midtown Manhattan. FF&F has seven partners and 38 employees of that total." All FF&F employees will participate in Prosperity's Employee Purpose Plan, an employee ownership program that lets employees benefit from the firm's future success. Kirkland & Ellis LP acted as legal…...

21+ hour, 31+ min ago (1321+ words) The SEC's Office of Investor Education and Assistance is issuing this Investor Bulletin to inform investors about health savings accounts (HSAs), which offer tax benefits when used to pay for qualified medical expenses. We encourage you to also consult Internal Revenue Service (IRS) guidance on HSAs." A health savings account (HSA) is a tax-advantaged savings account you can use to pay for qualified medical expenses. Qualified medical expenses can include, for example, doctor and hospital bills, prescription medicine, and dental and vision costs. HSAs come with federal and sometimes state tax benefits, which means using an HSA instead of a traditional checking or savings account to pay for qualified medical expenses can help you save money. You can put money in an HSA like you would a typical deposit account. Some HSAs also allow you to invest your money, including…...

1+ day, 5+ hour ago (295+ words) Indirect tax solution provider Vertex and CPA.com are deepening their partnership to bring an artificial intelligence-based sales tax compliance tool to the accounting profession. In collaboration with AI-powered tax automation platform Kintsugi, the new solution will let CAS and state and local tax teams at accounting firms figure out clients' sales tax exposure, automate their registration and filing, and stay on top of ongoing compliance requirements. Firms can now either handle clients' compliance directly through a white-labelled platform, or refer them to Vertex and Kintsugi. The solution integrates with major ERP, billing and e-commerce platforms. "This launch marks an important next step in our journey to serve the accounting community," said Bradd Wildstein, vice president of partner sales at Vertex, in a statement. "Through our partnership with CPA.com and Kintsugi's advanced AI capabilities, we're helping CPA firms unlock…...

1+ day, 8+ hour ago (470+ words) The Financial Accounting Standards Board published an accounting standards update with the goal of improving the navigability of the required interim reporting disclosures while clarifying when that guidance should be applicable." The standards update also includes extra guidance on what disclosures should be provided in interim reporting periods. "The ASU clarifies the applicability of the interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with generally accepted accounting principles," said FASB chair Richard Jones in a statement Monday. "We expect that these clarifications will enhance consistency in interim reporting for all entities." The update doesn't actually change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements, which were determined by previous FASB boards when the disclosure requirements were originally issued. The goal instead is to…...