In The News—July 15, 2024

It’s mid-July, which means for those of us in the Northern Hemisphere, we’re in the thick of summer—the hottest on record! Take a moment to cool off and review the top stories from the past week.

Today, we have a press release from Becker announcing that it has launched a tax representation training program. We also feature an original TWR article covering Insightful Accountant’s 2025 ProAdvisor Awards and another article spotlighting CTBK, one of our TOP 50 CAS winners for 2023 and 2024.

In technology news, Intuit has laid off approximately 10% of its staff, and a TechCrunch article covers the AI-powered financial management platform Adaptive, which seeks to improve back-office operational efficiency for those in the construction industry. In accounting news, the Financial Accounting Standards Board (FASB) has completed a new chapter of its conceptual framework for measuring items recognized in financial statements; finally, a new research report shows that less than 25% of accounting firms are successful in recruiting and retaining talent—read on to learn why, and gain other insights from the past week In The News.

The Woodard Report

Insightful Accountant's 2025 U.S. ProAdvisor Awards Open [The Woodard Report]

The 2025 U.S. ProAdvisor Awards are now open for nominations, recognizing top accounting professionals. This prestigious award celebrates those who significantly impact the industry. Nominate your peers or yourself to join this celebration of excellence. Read more...

Woodard® Top 50 Client Accounting Services Award Firm Spotlight: CTBK, LLP Top50 [The Woodard Report]

The Woodard® Top 50 Client Accounting Services Award recognizes outstanding firms in the accounting industry. This week, we spotlight CTBK, LLP, a firm known for its exceptional client services and innovative solutions. CTBK, LLP stands out for its dedication to client satisfaction and continuous improvement. Read more about their achievements and why they were selected for this prestigious award... read more.

Press releases

Becker Launches Tax Representation Training [Yahoo Finance]

Becker has introduced a new tax representation training program designed to help professionals enhance their skills and better serve clients. This initiative aims to provide comprehensive education on tax representation and related practices. Read more...

IRS news

IRS Makes Big Progress, But… [CPA Trendlines]

The IRS has made significant improvements in various areas, but challenges remain. The article highlights ongoing issues and the IRS's efforts to address them, ensuring better service and efficiency. Read more...

Technology news

Intuit Cuts 10% Staff Amid New Artificial Intelligence Efforts [PYMNTS]

Intuit is reducing its workforce by 10% as it shifts focus to new artificial intelligence initiatives. This strategic move aims to enhance innovation and maintain a competitive advantage in the rapidly evolving tech landscape. Read more...

Adaptive Builds Automation Tools to Speed Up Construction Payments [TechCrunch]

Adaptive is developing automation tools to streamline construction payment processes. These tools aim to reduce delays and improve efficiency in the construction industry by leveraging advanced technology. Read more...

Accounting News

What's Next in CAS [Accounting Today]

This podcast episode explores the future of Client Accounting Services (CAS), discussing trends, challenges, and opportunities for accounting firms. Industry experts share insights on how firms can adapt and thrive. Read more...

FASB Completes Conceptual Framework [Accounting Today]

The Financial Accounting Standards Board (FASB) has finalized its conceptual framework, which will guide future standard-setting activities. This framework aims to enhance the consistency and clarity of financial reporting. Read more...

Three More Strategies for Growing Your Practice [CPA Trendlines]

CPA Trendlines offers three additional strategies to help accounting firms grow their practice. These strategies focus on client engagement, service diversification, and leveraging technology to boost efficiency and profitability. Read more...

Research Shows Less Than 25% Report Success in Accounting Recruiting and Retention [WFXRtv]

A recent study reveals that less than 25% of accounting firms report success in recruiting and retention. The article delves into the challenges faced by firms in attracting and retaining talent in the competitive accounting industry. Read more...

Other interesting things we found

How to Equitably Assign High-Profile Work [Harvard Business Review]

Harvard Business Review discusses methods for equitably assigning high-profile work within organizations. The article provides strategies to ensure fairness and inclusivity in work distribution, promoting a balanced and motivated workforce. Read more...