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Your Daily Accounting Briefing – 2024-03-21

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Let’s see what’s in the news today.

IRS needs to plan better for modernization funding

The Internal Revenue Service hasn’t fully updated its plans to use the tens of billions of dollars in additional funds provided by the Inflation Reduction Act, according to a new report.

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EY’s New Leader Leans on Rivals to Unify Firm After Failed Split

Ernst & Young’s incoming global CEO Janet Truncale has made room for a trio of rivals on her executive team as she steers the Big Four network still healing from the trauma of its collapsed restructuring deal a year ago.

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Women CA: From just 8% in 2000, share of women CAs now 30% | India News

India News: A recent report has revealed a significant rise in female Chartered Accountancy qualifiers, now making up 48% of pass-outs, a record high. The overall

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PCAOB fines Israeli audit firm $200K

The Public Company Accounting Oversight Board sanctioned an Israeli auditor and her firm for violating the PCAOB’s rules in several audits, imposing a $200,000 penalty.

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Support Gels for Changes to Convertible Debt Accounting Rules

Accountants and professional groups largely back a US accounting standard-setter proposal to clarify a complex part of convertible debt accounting rules that affects company income statements, comment letters show.

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