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Tax
IRS could be required to publicly report wait times and backlogs [Government Executive]
A bipartisan bill focused on improving customer service at the IRS is headed for a full Senate vote. The Senate Finance Committee advanced the Taxpayer Assistance and Service Act in a 26-1 vote during a Thursday markup hearing. The bill contains over 60 IRS reforms proposed by Republicans and Democrats on the committee and the agency’s National Taxpayer Advocate.
Statement From National Taxpayer Advocate Erin M. Collins Regarding Senate Finance Committee Approval of the TAS Act [National Taxpayer Advocate]
““It is especially encouraging that virtually all these bills have advanced with strong bipartisan support. Tax administration may not always attract headlines, but it profoundly affects nearly every individual, family, and business in the country.”
AI
EY says its ‘invisible’ AI router has helped cut token consumption by up to 60% [Business Insider] EY does not let every employee query go straight to the smartest AI model in the room. The Big Four firm has introduced an “invisible” router to help manage its internal AI spending, Dan Diasio, EY’s global consulting AI leader, told Business Insider. Rolled out globally in April, the router sits behind some of EY’s specialized AI tools and acts as an intermediary to direct employees towards the best AI model for the task at hand. The router, together with training and governance strategies, has helped reduce token consumption by 60% since its implementation in April, EY said.
The 2 biggest mistakes companies are making with AI, according to PwC’s US CEO [Business Insider] TLDR: “1) AI isn’t fundamentally a technology transformation, 2) believing AI alone can fix a broken business.
Griggs, who started at the Big Four consulting giant as an intern roughly 30 years ago, said that he sees AI as the “greatest opportunity” of his career, and there’s no question about it enhancing productivity. The real question is what companies should do with it.
As AI use in cybersecurity rises, so do the risks [Journal of Accountancy]
The gap between deployment of artificial intelligence (AI) tools in cybersecurity and confidence in those tools is widening as organizations struggle to establish governance for effective implementation, a global survey shows. Active use of AI in cybersecurity strategy among IT and security professionals rose from 50% to 78% in one year, according to 2026 SANS AI Survey Insights by SANS Institute, an information and cybersecurity training company. At the same time, increased deployment has produced more failures.
India
“India is becoming one of the world’s most important accounting talent hubs”: CPA Australia CEO Chris Freeland AM [EdexLive]
As the accounting profession undergoes rapid transformation driven by artificial intelligence, digital technologies, and cross-border business, globally recognised qualifications are becoming increasingly valuable for professionals seeking international careers. Against this backdrop, CPA Australia has renewed its Mutual Recognition Agreement (MRA) with the Institute of Chartered Accountants of India (ICAI). The agreement enables eligible members of both professional bodies to pursue membership through a streamlined pathway, strengthening professional mobility and collaboration between India and Australia. During his visit to India for the signing ceremony, Chris Freeland AM, Chief Executive Officer of CPA Australia, spoke to EdexLive in an email interview about the significance of the renewed partnership, India’s emergence as a global accounting and finance talent hub, the opportunities created by the country’s expanding Global Capability Centre (GCC) ecosystem, and how artificial intelligence and continuous upskilling are reshaping the future of the profession.
Audit
UK regulator probes KPMG, two accountants over Wood Group audits [Reuters]
Britain’s accounting watchdog said on Thursday it had opened a probe into KPMG’s financial audit of British oilfield services and engineering firm Wood Group for the fiscal year ended December 2023. The Financial Reporting Council (FRC) also said it would probe two individual accountants, whom it did not name, for financial statements and communication in relation to the firm’s Projects Business Unit from 2022 to 2024.
Sanders, Grassley reintroduce bill fining Pentagon for audit failures [The Hill]
The senators’ legislation, called the Audit the Pentagon Act, stipulates that if any component of the Pentagon does not pass a clean audit, it would have 2 percent of its budget withheld and would be sent over to the Treasury Department to slash the national deficit. “The Pentagon has been plagued by a massive amount of waste, fraud and financial mismanagement for decades. Year after year, the Pentagon fails an audit, and year after year, Congress hands it another blank check,” Sanders said in a statement. “At a moment when the administration has dragged us into an unconstitutional war with Iran and is demanding the largest military budget in our history to pay for it, the Pentagon still cannot tell us where trillions of dollars have gone.”
News
Ex-KPMG Partner to Run Global Accounting, Sustainability Body [Bloomberg Tax]
A former KPMG partner will lead the strategy and funding approach of the body that sets international accounting and sustainability standards for companies to follow, it announced Thursday. Laura Forzani will become the International Financial Reporting Standards Foundation’s managing director Sept. 1. The foundation is the parent organization of both the International Accounting Standards Board and the International Sustainability Standards Board.
By the Numbers
How many employees work at Deloitte Digital US? [Revelio Labs]
Deloitte Digital US’s workforce has declined 20.4% from 2023 to 2026, down 1.4% year over year in 2026. It fell to a low of 6,032 in 2026 Q1 before recovering. Its workforce is concentrated most in India (21.3%), followed by the United States (16.1%) and the United Kingdom (11.0%), with Spain, its fastest-growing location.