Your Daily Accounting Briefing – 2024-06-10

Let’s see what’s in the news today.

AICPA Updates Practice Aid for Auditing Digital Assets

Guidance was added on auditing the valuation of digital assets and audit procedures regarding their existence, rights, and obligations.

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Lawsuit: ‘Grandfatherly tax accountant’ Joseph Pezzano scammed Peco retirees out of $18.5 million

The federal suit sheds new light on an expanding investment debacle affecting 70 or more clients in four states. They’d invested as much as $30 million with Collegeville accountant Joseph Pezzano.

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Auditors prioritize tech for fieldwork

A recent survey from Thomson Reuters said auditors find new technology that assists during the execution/fieldwork phase of an engagement to be most useful.

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CPA Business Execs Feel Less Optimistic About the Economy

After feeling extremely optimistic about the U.S. economy in Q1, that sentiment fell in Q2 due to a variety of factors, the AIPCA said.

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Mid-Year Marketing Checklist for Accounting Firms

Focusing on the middle of the marketing funnel, where potential leads are weighing their options and seeking more information, can significantly enhance your ability to convert prospects into engaged clients.

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