Chicago-based Top 10 firm Grant Thornton found that finance leaders, who were already concerned about inflation, grew even more pessimistic about the road ahead. The study revealed that 72% of the 249 CFOs surveyed for the second-quarter edition of the poll expect interest rate hikes will lead to a recession.
As part of the AICPA Fellowship for Minority Doctoral Students, which strives to grow and diversify the educator pipeline in accounting programs, the AICPA Foundation offered 23 minority doctoral students a $12,000 fellowship. Established in 1922 to advance education and professional advancement in accounting, the AICPA Foundation has been supporting
Grant Thornton reported Thursday that its U.S. firm’s revenue for the fiscal year ending July 31, 2022, rose nearly 17% to reach a record of $2.3 billion. The accounting and auditing practice accounted for 33% of the total revenue, while tax made up 25% and advisory services contributed 42%. “Our
The Massachusetts Society of CPAs announced the seven recipients of the 2022 Women to Watch Awards and will honor winners on Wednesday, October 25 at the MassCPAs’ Women’s Leadership Summit. In partnership with the Association of International CPAs Women’s Initiatives Executive Committee, a panel of judges selected seven female leaders based on their contributions
States once flush with revenue from surging sales tax collections are starting to see inflation-related declines, signaling state revenues may continue to drop. The number of states that saw year-over-year declines increased to 25 in June from 16 in May, according to the Urban Institute. That declining performance, which is
Small businesses are more concerned about inflation than ever before, with 90% sharing that they fear the impact of inflation on their business, according to a new report. The quarterly MetLife and U.S. Chamber of Commerce Small Business Index revealed that half of respondents think inflation is currently the biggest
The Internal Revenue Service needs to beef up security at its facilities to address ongoing threats, according to a recent report. The report, released Monday by the Treasury Inspector General for Tax Administration, pointed out the IRS is often the target of threats from individuals and organizations looking to do
The Securities and Exchange Commission’s Investor Advisory Committee released a set of recommendations for reforming the way the Financial Accounting Standards Board operates so it can be more responsive to the needs of investors. “In recent years, investors have increasingly voiced concerns that accounting standard-setting has not kept pace with
A study by the U.S. Census reveals that over 3 million children have a disability, about 4.3% of the under-18 population, and it’s estimated that one in five households is caring for a child with special needs. The number is growing because of changes in diagnostic criteria; for example, the
Repeat business; bar none; installment plan; and other highlights of recent tax cases. Plover, Wisconsin: Tax preparer James Canfield, 74, has been sentenced to eight months in prison for aiding in the preparation of false federal returns. Canfield owned and operated Advanced Accounting Concepts. Between 2013 and 2018, he prepared
