A de­layed start? Ac­count­ing To­day’s Ac­coun­tants Con­fi­dence Index In part­ner­ship with ADP ®

The ACI jumped again for the sec­ond month, with over­all ex­pec­ta­tions of growth ris­ing in both the short- and the midterm. The index com­po­nents rose more strongly for the next six months than for the next three, with many re­spon­dents ex­pect­ing the com­ing

Accounting Today - - Professionwatch - 65 60 50 3 MOS. 6 MOS. 59.51

The high vol­ume of changes in the Tax

Code, along with a short­ened cy­cle and missed dead­lines, are in­creas­ing the risk of a de­layed start to the 2019 tax-fil­ing sea­son, ac­cord­ing to a new re­port from the Trea­sury In­spec­tor Gen­eral for Tax Ad­min­is­tra­tion. ( See page 22.)

Charles “Chuck” Ret­tig was of­fi­cially

sworn in as com­mis­sioner of the In­ter­nal Rev­enue Ser­vice by Trea­sury Sec­re­tary Stephen Mnuchin — and he has quite a job ahead of him, com­ing on board as the ser­vice is work­ing to im­ple­ment the many changes to forms, sys­tems, cal­cu­la­tions and other as­pects of the tax sys­tem cre­ated by the mas­sive tax re­form act passed by Congress last De­cem­ber, while also strug­gling with the reper­cus­sions of slashed bud­gets, a shrink­ing work­force, and a seem­ing in­abil­ity to man­age tech­nol­ogy.

The Center for Au­dit Qual­ity marked its

fourth an­nual “#Au­di­tor­proud” day on Sept. 27, cel­e­brat­ing the au­dit pro­fes­sion on so­cial me­dia and en­cour­ag­ing stu­dents and prospec­tive pro­fes­sion­als to con­sider a ca­reer in the field.

The Se­cu­ri­ties and Ex­change Com­mis­sion

warned pub­licly traded com­pa­nies that they should con­sider cy­berthreats when they im­ple­ment in­ter­nal con­trols. The sug­ges­tion stems from an in­ves­ti­ga­tion by the SEC’S En­force­ment Divi­sion of nine un­named com­pa­nies that fell prey to cy­ber­crim­i­nals who stole mil­lions of dol­lars from them. In some cases, the frauds went on for months at a time and were de­tected only af­ter law en­force­ment au­thor­i­ties or out­side par­ties in­ter­vened. Each com­pany lost at least $1 mil­lion.

The IRS is phas­ing out its grand “Fu­ture

State” ini­tia­tive for in­ter­act­ing with tax­pay­ers on­line, which was be­gun in 2014, but it is in­cor­po­rat­ing some of the con­cepts in its five-year strate­gic plan. ( See page 22.)

Top 100 Firms EKS&H and Plante Mo­ran

fi­nal­ized the merger they agreed on in June. The two were al­ready the largest in­de­pen­dent firms in their re­spec­tive re­gions of the coun­try — Plante Mo­ran pri­mar­ily in the Great Lakes area, and EKS&H in the Moun­tain Re­gion — and the com­bined firm ex­pects to be the 11th largest in the coun­try, with over 3,000 pro­fes­sion­als in 27 of­fices. ( See M&A Watch, page 32.)

Cyn­thia Holder, a for­mer in­spec­tions

leader at the Pub­lic Com­pany Ac­count­ing Over­sight Board and for­mer ex­ec­u­tive di­rec­tor at KPMG, pleaded guilty to schem­ing to de­fraud the PCAOB and the SEC by get­ting con­fi­den­tial lists of which au­dit clients the PCAOB planned to in­spect and giv­ing the in­for­ma­tion to KPMG em­ploy­ees to im­prove the firm’s per­for­mance on in­spec­tions.

PWC Global firms earned gross rev­enues

of $41.3 bil­lion in the fis­cal year ended June 30, grow­ing 7 per­cent in lo­cal cur­rency terms, and by 10 per­cent in U.S. dol­lars. In terms of ser­vice ar­eas, Pwc’s ad­vi­sory busi­ness grew 10 per­cent, to $13.8 bil­lion. Tax and le­gal ser­vices rev­enues, mean­while, grew by 8 per­cent to $10.4 bil­lion. Over fis­cal 2018, the firm added 64,776 staff, bring­ing its head­count to more than 250,000 peo­ple. PWC firms ad­mit­ted a record 739 part­ners world­wide, 30 per­cent of whom were women.

Big Four firm EY an­nounced that it will

boost its hir­ing in the new year, with ap­prox­i­mately 15,700 can­di­dates ex­pected to be brought on board in the U.S. ( See page 38.)

Top Six Firm Grant Thorn­ton an­nounced

rev­enues for the fis­cal year ended July 31 of $1.8 bil­lion, an in­crease of 3.4 per­cent over the previous year, and a record for the firm. Grant Thorn­ton also high­lighted its on­go­ing brand­ing ef­forts, which in­clude spon­sor­ships of the PGA Tour, The

The As­so­ci­a­tion of In­ter­na­tional Cer­ti­fied

Pro­fes­sional Ac­coun­tants and its tech­nol­ogy arm, Cpa.com, are seek­ing can­di­dates for their joint startup ac­cel­er­a­tor pro­gram. ( See page 31.)

Erica Ishida was ap­pointed to the newly

cre­ated po­si­tion of CEO of the Lead­ing Edge Al­liance, to work with pres­i­dent Karen Kehl-rose, who will re­tire at the end of the year. Ishida has more than 15 years of ex­pe­ri­ence in or­ga­ni­za­tion de­sign, change man­age­ment and lead­er­ship de­vel­op­ment; most re­cently, she led a strate­gic ex­e­cu­tion con­sult­ing firm she founded, which fo­cused on de­vel­op­ing lead­ers, es­pe­cially women lead­ers. Kehl-rose, who has been in her role since the cre­ation of the CPA firm as­so­ci­a­tion in 1999, will as­sist with the tran­si­tion through June 2019.

Steve San Filippo, found­ing part­ner of

Sen­siba San Filippo LLP, died un­ex­pect­edly Oct. 9, at the age of 67. San Filippo founded SSF in his home in 1977 and grew it into one of the top 25 firms on the West Coast.

3 month All re­sponses from an Oc­to­ber 2018 sur­vey of the Ac­count­ing To­day Ex­ec­u­tive Re­search Coun­cil, an on­line panel of over 1,500 ac­count­ing pro­fes­sion­als. The ACI was cre­ated in part­ner­ship with: 6 month

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