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Isaac M. O'Bannon

Managing Editor

isaac.obannon@cpapracticeadvisor.com

Isaac M. O'Bannon is the managing editor and digital content manager for CPA Practice Advisor (www.CPAPracticeAdvisor.com), drawing on two decades of experience covering the areas of professional accounting, taxation, business productivity and consumer technologies. Prior to CPA Practice Advisor, O'Bannon was a consultant at firms in San Francisco, Denver and Tulsa, serving clients that included Logitech, Polycom, Hilti, Microsoft, the Stanford Research Institute, the University of Oklahoma's College of Engineering and other technology leaders. He is a U.S. Navy veteran. Email: isaac.obannon - @ - cpapracticeadvisor.com

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Accounting

60% of CFOs Say Their Organizations are Ready to Implement and Work With AI, but Only 35% are Using AI in Finance

The report also notes a significant focus on business continuity and resilience, with 59% of finance executives prioritizing these areas in 2024, up from 51% in 2023 and 40% in 2022.

Accounting

Airwallex Partners with Float for Bill Payment Automation for Canadian Businesses

Float’s Bill Pay product, powered by Airwallex, introduces payouts – including bank transfers, EFT, wire, and ACH – as part of Float’s unified business finance platform for Canadian companies.

Accounting

Wolters Kluwer Acquires European Tech Portfolio, Including CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin

Wolters Kluwer Tax & Accounting has signed an agreement with Belgian fintech company Isabel Group to acquire its accountancy portfolio of cloud-based financial workflow and data exchange solutions for €325 million in cash.

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Accounting Standards

Growth Seen in Pilot Program that Reduces Barriers to Finishing CPA Licensure Education Requirement

A program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure has expanded since it began offering online courses last semester.

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Small Business

First-Party Fraud Costs $100 Billion Per Year

First-party fraud occurs when the legitimate holder of a credit card disputes a purchase they truly did make, but reports the transaction as an unauthorized purchase.

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Small Business

Local Governments are Addicted to Sales Tax Revenues

The 2024 Mid-Year Sales Tax Rates and Rules report, commissioned by Vertex Inc., outlines the evolving landscape of local tax implementation, proliferation of fees, and increasing complexity of tax compliance for businesses across the U.S.

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Accounting

Uncertainty and Global Risks Outpace Risk Management Processes

Only a third (37%) say their organizations have complete enterprise risk management (ERM) processes in place, and just over a quarter (30%) rate their organizations overall risk management oversight as “mature” or “robust.”

Accounting

Acumatica Launches Alliance Program to Expand Partner Ecosystem

Organizations eligible to become Alliance Members are those focused on helping companies grow and succeed in an evolving business landscape.

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Payroll

U.S. Military Households More Likely in Better Financial Situation Than Non-Military Households

Also, military households with higher incomes are more likely to be confident about retirement prospects than non-military households.

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Sales Tax

KPMG and Avalara Form Alliance for Tax Compliance Automation

The new alliance allows organizations to leverage the combined power of Avalara’s compliance automation technology – including indirect tax calculation, returns, exemption certificate management, cross-border compliance, e-invoicing, and registrations.

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Technology

Thomson Reuters Launches AI-Assisted Research System

Checkpoint Edge with CoCounsel is designed to help tax professionals get trusted answers to complex tax research questions.