PCAOB proposes new audit confirmation standard

The new standard for audit confirmations would replace an interim standard that hasn't changed for two decades, and more of today’s top stories. 

Sign up here to receive Accounting Today's Daily Newsletter — delivered to your inbox every morning.

PCAOB proposes new audit confirmation standard

The proposed auditing standard would take into account advances in auditing technology, but would apply to all methods of confirmation, including paper-based and electronic communications.

In other news today:

Treasury plans tax guidance on IRA by year's end

The Treasury Department announced a timeline for offering more information on some of the main tax provisions of the Inflation Reduction Act.

PCAOB releases inspection results for six major firms

The board released its latest inspection reports on Deloitte & Touche, PricewaterhouseCoopers, KPMG and Ernst & Young, plus BDO USA and Grant Thornton.

M&A roundup: Firms merge and demerge

Withum added Martinez & Associates; Fandl and Gagnon combined; and Whitley Penn and Elliott Davis called off their merger.

Machine learning holds promise for tax enforcement

A recent study found that using machine learning in tax audits can significantly increase evasion detection as well as delinquent tax collection.

Accounting Today launches Firm Growth Forum in May

Scheduled for May 8-10 in San Diego, this premiere event will teach firms how to rethink their business model, launch new services and leverage new technology to build a 21st century practice.