"
Running a Firm

Running a Firm (772)

Children categories

AICPA: ESG Engagements Grow

The percentage of companies seeking independent assurance on their environmental, social and governance  information grew to 58 percent 2020,  rising from 51 percent the prior year. That was the top finding of a study from the International Federation of Accountants , American Institute of CPAs  and Chartered Institute of Management Accountants.


A follow-up study showing 2021 data will be released later. The recently released conclusions incorporate data from 1,400 global companies from the G20 nations plus Hong Kong S.A.R., China and Singapore. 2 percent. 

While audit firms represent 63 percent of those hired for these engagements, most are performed by businesses outside of the accounting profession in countries including South Korea, the United Kingdom and the United States, most assurance engagements are conducted by service providers outside of the accountancy profession.

The countries with the highest rates of accounting firms performing the services include Australia, France, Italy, Germany and Spain

Among other findings was that 89 percent of companies presented at least some information in each of four categories: greenhouse gasses, other environmental factors, social and governance. However,  only 4 percent provided assurance for all four categories, with greenhouse gases the most common in 95 percent of engagements.

The study found use of, or reference to, Sustainability Accounting Standards Board (SASB) standards more than doubled in 2020. It notes new disclosure proposals from the International Sustainability Standards Board (ISSB) include and build upon SASB standards. (SASB’s parent organization, the Value Reporting Foundation, consolidated into the IFRS Foundation on this month.

Read more...

Zoho: Accountants Don’t Know Us

DisguiseZoho has one major barrier in appealing to accountants to be involved with its products: professionals do not recognize Zoho’s name, according to the executive who runs Zoho's accountants program.

Read more...

Summer: Focus on Advisory Services

ConsultingMost tax and accounting firms follow a predictable annual cycle. There are quarterly estimates due, key extension deadlines to be aware of and, of course, tax season.

Read more...

KPMG Releases ESG Impact Plan

Plan idea actionm KPMG has released a broad-based U.S. Impact Plan about its priorities for environmental, social and governance issues. The plan includes comprehensive goals for hiring and promoting minorities and women, pushing for clean energy and combating human rights abuses.

Read more...

QB Large Firm Council Launches

Committeee meetingIntuit has formed a new group to represent large accounting firms. The company said six individuals have become the inaugural members of its Large Firm Accountant Council, which addesses the company's QuickBooks platform.

Read more...

Exam Cheats Cost EY $100M

CheatingThe SEC has socked Ernst & Young  with a civil money penalty of $100 million for cheating by hundreds of audit staffers on CPE courses, including sections about ethics. This was the second major episode of exam cheating in the last 10 years with the other round costing EY $50 million.

Read more...

ACIPA Seeks CPA Exam Comments

 feedback mailboxThe American Institute of CPAs is asking for feedback on the Exposure Draft of the new design of the Uniform CPA Examination. Comments are being sought through September 30, the AICPA said this week.

Read more...

IRS Issues Jump as CPA Concerns

IRS againDealing with the Internal Revenue Service has become an increasing concern for CPA firms, according to a survey by the American Institute of CPAs and CIMA. That resulted from frustration with dealing with the IRS was the top challenge of firms with 10 or fewer professionals.

Read more...

Wave Getting New CEO

Wave Financial, which markets small business accounting software, is changing CEOs effective July 1. CEO and cofounder, Kirk Simpson, is stepping down after 15 years in the position.Khoja Zahir

Read more...

CapinCrouse Names Three Partners

Sharrett LoganCapinCrouse, an Indianapolis, Ind.-based CPA firm, has named three partners. The firm, which specializes in working with nonprofit clients, has promoted Daren Daiga, Chris Purnell, and Logan Sharrett to partner effective this month.

Read more...

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.