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Friday Footnotes: CPA’s Call to End ERC Fearmongering. Deloitte Criticized.

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TLDR:

  • A CPA advises to stop fearmongering about the Employee Retention Credit (ERC) on Tax Twitter.
  • Deloitte faces criticism for its “grueling culture” as former staff and directors speak out.

In this week’s roundup of accounting news, a CPA discusses the inefficiency and lack of training at the IRS concerning the ERC. Deloitte is under fire for its harsh work environment, with complaints of pressure to perform in a grueling corporate culture. A study by Deloitte shows that concerns about rising prices are affecting Americans’ financial well-being. Additionally, there is a strong demand for nonprofit services amidst ongoing workforce shortages and inflation.

The study also confirms that businesses are favoring a gradual adoption of generative AI to address knowledge gaps. KPMG in Canada focuses on keeping diversity, equity, and inclusion at the forefront of the return-to-office process. Other topics discussed include tax evasion schemes, audit issues, and the impact of private equity in the accounting profession.

Overall, this week’s accounting news highlights the importance of addressing workplace culture, financial well-being, and the need for effective audit practices in the industry.


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