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Friday Footnotes: KPMG’s Open Plan; Accountants’ Latest Worry; Vacation Time? | 5.15.20

KPMG LLP Introduces Dynamic, Risk-Based, Policy And Technical Framework To Help Organizations Safely Reopen Their Workplaces [PR Newswire] “Reopening organizations and bringing employees back on-site presents technical challenges complicated by the fluidity of the situation, public policy responses, and different challenges faced by businesses, their suppliers and their individual employees,” said Atif Zaim, Customer and Operations Services Line Leader, KPMG LLP. “KPMG’s dynamic risk-based framework helps organizations build and execute an effective return-to-work program.”

Tax Pros Can Help Taxpayers Struggling with Federal Tax Debt [CPA Practice Advisor] By now, most have heard that taxpayers have until July 15, 2020, to file and pay their 2019 federal income taxes which includes the first and second federal estimated payments. However, taxpayers may not be aware that the IRS also put in place a temporary moratorium on collections actions and suspended the requirement to make already established Installment Agreement and Offers in Compromise payments without fear of default.

What CPAs should consider before deferring ASB reporting standards [Journal of Accountancy] CPAs and their clients will experience substantial benefits from implementing the new standards because they were developed to enhance the communicative value of the auditor’s report and align generally accepted auditing standards (GAAS) with the standards issued by the International Auditing and Assurance Standards Board (IAASB) and the PCAOB.

Deloitte Australia launches AWS Cloud Guild [ZDnet] Deloitte Australia has on Tuesday launched a new internal program, aimed at training over 4,000 staff on cloud technologies. Speaking with media on a virtual panel session hosted by Amazon Web Services (AWS), Deloitte Australia AWS Alliance lead Zack Levy said the Deloitte Cloud Guild is aiming to take professional development within the consulting firm, specifically around cloud, to the next level. “Clients rely on us for our expertise, it is critical for our people to be up to speed with the latest technology and cloud is an enabling technology that underpins so many business transformations today,” Levy said. “This is why we decided to team up with AWS and invest in this initiative.”

Accountants worry about losing clients amid the pandemic [Accounting Today] Client attrition is the issue that’s keeping the most accounting firm leaders up at night amid the upheavals of the coronavirus pandemic, according to a new survey — even as a third of those leaders struggle to balance their work with the new personal responsibilities brought on by the new environment. The research, conducted by Accounting Today’s parent company, Arizent, polled 189 accounting firm executives in mid-April as part of a broader survey of 592 executives across an array of sectors including financial services, wealth management, insurance and professional services, to understand how businesses are dealing with the crisis, their sentiments about the future and potential actions under consideration.

PwC: Automation is key to supply chain agility post pandemic [Supply Chain Dive] Automation is on the minds of executives across sectors as they look for ways to diminish disruption from future crises or even subsequent waves of COVID-19, PwC U.S. Chairman and Senior Partner Tim Ryan said on a call with media.Thirty-seven percent of CFOs are planning to accelerate automation across functions. “The initial shock of the virus and its effect on the business community is over. And we’re seeing a real shift among executives around focusing on what they can control,” Ryan said.

EY Legal UK Partners and Staff Must Use 70% Of Annual Leave By August [] Big Four accounting firm EY has told all U.K. staff, including those in its legal arm, to use 70% of their annual leave by the end of August. EY said in a statement that the measures are “intended to protect individual well-being while also safeguarding EY’s efficiency and productivity throughout the year”. “We are strongly encouraging our people and partners in the U.K. to spread their annual leave across the year by taking 70% of their annual leave entitlement by 31 August, which is in line with what people would normally do in any given year,” the statement added. Staff have also been asked to use 35% of annual leave by the end of July, a person close to the situation added.