Taxpayers Love Their Accountant, but Want More From ThemRead the rest of this entry »
Clients love their tax accountant, though half wonder if they’re doing enough to cut their tax bill.
Those seemingly contradictory opinions come from a survey by practice management software provider Canopy.
85% of the taxpayer respondents say they would recommend their accountant, despite 53% not being confident they're getting enough help minimizing their taxes.
What the survey takers most appreciate is the in-person communication with their accountant. In fact, they …
Alternatives Investors Plan to ‘Stay the Course’ This YearRead the rest of this entry »
Despite market volatility and an uncertain economic outlook, investors are committed to their alternative asset programs, declares Preqin in its half year investment update.
The majority of investors in alternatives say they intend to stay the course this year, telling Preqin they are satisfied with the performance of their portfolio over the last year.
“Almost all investors intend to either maintain (60%) or increase (33%) allocations to private capital, …
COVID Is Making Accounting’s ‘Unthinkable’ a PriorityRead the rest of this entry »
A year ago, the accounting and business technology firm Sage confirmed what accountants felt was happening: the nature of the profession was transforming.
Driven by clients, regulatory demands, generational change and the marketplace, accounting was changing, said Sage’s Practice of Now report, from a transactional profession to one focused on partnership and consultancy.
What no one could have foreseen was a pandemic that would force upon firms some of the …
Wall Street Bonuses Are Shrinking This YearRead the rest of this entry »
About those year-end bonuses Wall Street bankers and traders were expecting just a few months ago: If they happen at all they’re going to be smaller than last year.
The compensation consulting firm Johnson Associates Inc. says the prolonged business shutdown, which has kept millions unemployed, is weighing on banks, which have upped their cash reserves anticipating the possibility of widespread credit defaults.
They’ve also taken a hit to lending …
5 Questions to Improve Accounting’s Leadership DiversityRead the rest of this entry »
Noting that “Women are underrepresented as partners and top executives in the accounting profession,” a panel of women accounting leaders said the way to change is for firms to focus on talent acquisition, retention, and promotion.
In a session at AICPA’s ENGAGE 2020 online conference the four women leaders explained it’s not enough for firms to simply hire more women accountants. Partners and managing executives have to provide women training …
First Continuous Testing CPA Scores Due Out This WeekRead the rest of this entry »
The first group of accountants to take the CPA exam under the new continuous testing policy will begin to get scores Friday. Those who passed, will be celebrating. Those who didn’t will, for the first time, be eligible to retake the test almost immediately.
As of July 1, the rigorous 4-part, 4-hour exam for accountants who want to earn the coveted Certified Public Accountant designation is offered throughout the …
Banks Seek to Improve Their Senior Level DiversityRead the rest of this entry »
The world’s largest banks may have slowed their overall hiring, but responding to #BlackLivesMatter and other pressures to be more diverse, they are placing greater emphasis on recruiting women and minorities, especially for senior positions.
"It's not tokenism," one London-based recruiter told eFinancialCareers."It's more that if you have a candidate who fulfills diversity criteria they are likely to sail through the approval process more quickly. This is getting more …
COVID-19 Is Teaching Accounting to Get ‘Comfortable With the Uncomfortable’Read the rest of this entry »
In the post-pandemic world, life at successful accounting firms will be very different from what it was just last year.
Partners will be more mentor than boss, engaging with staff in a more personal way than ever before. There will be a new emphasis on leadership and development. The consultative part of accounting will be center stage, as clients look for guidance and help in rebuilding their business. Technology adoption …
Companies Are Finding Virtual Recruiting to Be More EfficientRead the rest of this entry »
It takes a little getting used to, but companies are finding that recruiting executives remotely offers more than enough benefits to make up for the lack of in-person meetings.
“There are many ways where the virtual recruitment is more efficient than what we did before,” said Jacqueline Welch, chief human resources officer and chief diversity officer at mortgage-finance giant Freddie Mac.
She told The Wall Street Journal that Freddie …
Investment Banks May Start Hiring in Q3Read the rest of this entry »
Investment banks are having a strong year.
After taking belt-tightening steps last year and announcing cost reduction plans this year, the coronavirus pandemic and subsequent business shutdowns worried the industry that more draconian action might be coming.
That prospect now is much less likely. Most investment banks had a strong 1st quarter and are on track for an equally good Q2.
Reporting on positive financial news from three of the …