In the News - April 28, 2025

As we close out April and move into the heart of spring, change continues to ripple through the accounting profession. This week, we continue our What's Happening at Woodard section, highlighting updates from our team alongside national accounting news. Here’s what you need to know.

What's Happening at Woodard

Podcast: Counting on Change — How AI is Rewriting the Ledger (The Woodard Report)

In Episode 119 of The Woodard Report Podcast, the discussion focuses on how artificial intelligence is transforming accounting, from bookkeeping automation to real-time financial analysis. Read more...

Reflecting on Tax Season: Planning What Comes Next (The Woodard Report)

This article from The Woodard Report explores key lessons from the 2025 tax season and provides guidance on how accounting professionals can leverage post-season momentum to improve workflows, client communications, and service offerings. Read more...

IRS News

IRS Reduces Workforce in Taxpayer Experience and Diversity Offices (CPA Practice Advisor)

The IRS has laid off employees from its Taxpayer Experience Office, Diversity Office, and Taxpayer Services. These reductions are part of a broader restructuring effort amid budget pressures and shifts in agency priorities. Read more...

Accounting News

Iowa Society of CPAs Appoints New CEO (CPA Practice Advisor)

Carrie Steffen has been named the new CEO of the Iowa Society of CPAs. A seasoned leader with a background in public accounting and consulting, Steffen is expected to guide the organization through a period of continued professional transformation. Read more...

SEC Gets New Chairman: Atkins Sworn In (Accounting Today)

Michael S. Atkins has been sworn in as the new chairman of the Securities and Exchange Commission (SEC). Atkins is expected to prioritize transparency, cybersecurity, and investor protections as top agenda items. Read more...

Improving the Use of SOC 1 Reports (The CPA Journal)

The CPA Journal discusses best practices for enhancing the use and reliance on SOC 1 reports, particularly in evaluating internal controls at service organizations. The article stresses the importance of clear communication between service providers, auditors, and client companies. Read more...

Firm Sues BDO Alliance Following Trump Media Audit Controversy (Accounting Today)

An accounting firm is suing the BDO Alliance after being expelled allegedly for auditing Trump Media & Technology Group. The lawsuit raises broader questions about political pressures and independence standards within audit networks. Read more...

Technology News

Intuit to Acquire HR Platform GoCo (Intuit Press Release)

Intuit announced plans to acquire GoCo, a cloud-based HR platform aimed at simplifying human resources management for small- and mid-sized businesses. This move is expected to strengthen Intuit's position in employee management solutions alongside its existing accounting and payroll services. Read more...

That wraps up this week’s In the News update. Stay tuned next week for more top developments impacting the accounting and advisory profession.