In the News - May 5, 2025

As we celebrate Cinco de Mayo today and welcome the start of May, the accounting industry continues to experience rapid change, with firm mergers, federal leadership shifts, and AI-driven workforce predictions dominating headlines. This week’s news includes IRS leadership developments, major accounting firm combinations, technology updates from Xero and Intuit, and a new Woodard Report podcast episode with Joe Woodard and Dan Hood that explores how client accounting services (CAS) and AI are transforming top firms.

What's Happening at Woodard

Podcast: How CAS and AI Are Reshaping the Top 100 Firms (The Woodard Report)

In Episode 120 of The Woodard Report Podcast, Joe Woodard and Dan Hood of Accounting Today discuss how the intersection of CAS and AI is redefining what success looks like for leading firms. The episode explores trends, opportunities, and the strategic mindset required to stay competitive in this evolving space. Read more...

Choosing the Right Conference for Your Firm’s Growth (The Woodard Report)

This article by Heather Satterley explores how to strategically select conferences that align with your firm’s goals and growth trajectory. From networking to professional development, it offers guidance on evaluating event value and making informed decisions. Read more...

IRS News

Hundreds of IRS Appeals Workers Accept Buyout Offers (CPA Practice Advisor)

Hundreds of employees in the IRS Appeals division have reportedly accepted early retirement or buyout offers. The workforce reduction is part of broader cost-cutting and restructuring efforts underway across the agency. Read more...

Trump Nominates Donald Korb as IRS Chief Counsel (CPA Practice Advisor)

Former IRS Chief Counsel Donald Korb has been nominated to return to the role. Korb previously held the position during the George W. Bush administration and brings extensive experience in federal tax law and IRS procedures. Read more...

Mergers & Acquisitions

Rehmann Merges with Martinet Recchia in Ohio (CPA Practice Advisor)

Michigan-based Rehmann has merged with Ohio firm Martinet Recchia, expanding its footprint in the Midwest and boosting its service capabilities in assurance, tax, and consulting. Read more...

13 Firms Combine to Form Sorren (Accounting Today)

A new accounting and consulting group called Sorren has been formed through the merger of 13 firms. The combination aims to create a national platform focused on innovation and client-centric service delivery. Read more...

Baker Tilly and Moss Adams Announce Merger (Going Concern)

Baker Tilly and Moss Adams are joining forces in a merger backed by private equity. The deal is expected to significantly alter the accounting industry landscape by creating one of the largest advisory-driven firms in the U.S. Read more...

Technology & Innovation

AI Could Reshape 25% of Jobs, Salesforce Predicts (Inc.)

According to a new report by Salesforce, artificial intelligence is likely to shift 25% of workers into new roles. The prediction emphasizes the growing need for reskilling and adaptation across professional industries, including accounting. Read more...