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Friday Footnotes: The Joys of Accounting; Big Data; Empowered! | 1.17.20

‘Friendly Competitors’ Merge To Form New Boutique CPA Firm [The Newtown Bee] Two local companies whose principles all trained at several of the nation’s most prestigious accounting firms — and who always described themselves as “friendly competitors” — recently merged to form a new and expanded boutique enterprise that local individuals, businesses, and nonprofits can really count on.

Three Questions with Professor Bob Anderson On the Joys of Accounting [The Bottom Line] Can’t anything be interesting if you’re interested in it? It’s my duty as a teacher to make it interesting. I actually am worried sometimes or concerned when I hear students say, “Oh I had no idea that accounting was so interesting.” So sometimes I worry that I make it too interesting.

How Big Data Guides The Accountant’s Evolution [PYMNTS] Technology continues to initiate change in the role of accountants from number-crunchers to strategic advisors. With client requirements in flux, and with regulations becoming more complex, accountants have an opportunity to wield automation technologies that can free up time for more strategic initiatives.

FERF’S 10th Annual Audit Fee Survey Report Reveals Accounting Changes Continue to Be Key Influencer of Fee Increases [Cision] Capturing trends from the 2019 audit season, FERF’s 2019 Audit Fee Survey Report indicates the growth in average audit fees remains strong. Overall, average audit fees increased 4.25% from 2017 to 2018 citing changes in the standards from the Financial Accounting Standards Board (FASB) as the primary driver. Public companies reported more change in the amount of audit work by external auditors pursuant to obtaining an auditor’s report on the financial statements than their private and nonprofit counterparts. Private companies reported a median increase of 8%, while nonprofits reported no median increase.

Atlanta audit committee’s private meetings an apparent violation of law [Atlanta Journal Constitution] For years, the committee that oversees the City of Atlanta’s independent auditor charged with making government more accountable, cost-effective and transparent has held its meetings in private without notifying the public or keeping records of what was discussed, in apparent violation of the Georgia Open Meetings Act.

Disneyland Tax Bill May Be About to Skyrocket [Hollywood Reporter] A proposed ballot initiative to reform California’s seminal Prop. 13 could mean millions more in fees on theme parks like Universal Studios and entertainment headquarters, aiding public schools. Will progressive Hollywood fight it?

Wounded Warrior Project Teams Up with Deloitte to Empower Veterans Seeking Employment [PR Newswire] Wounded Warrior Project® (WWP) and Deloitte are teaming up again to provide free career development training to wounded veterans and family members seeking employment across the United States. Together, WWP and Deloitte hosted over 15 employment boot camps in cities across the country in 2019 and will host an additional 15 sessions in 2020.

KPMG pays employees more to give up their company cars [The Brussels Times] The KPMG consultancy firm says it will double the daily allowance it gives employees when they give up their company cars for public transport in travelling to and from work. From 1 February, they will receive 10 euros per day, La Libre Belgique and De Standaard reported.