Avalara Appoints New CEO, Hugo Sarrazin
Avalara announced Hugo Sarrazin as its new chief executive, succeeding co‑founder Scott McFarlane. Sarrazin arrives after steering Udemy through its sale to Coursera and holding senior roles at UKG and McKinsey. He outlined three immediate priorities—immersing in Avalara’s culture, deepening customer relationships, and accelerating AI‑driven innovation. McFarlane will remain an advisor for roughly 18 months to support the transition.
Scaling Finance Amid Skill Gaps
Finance leaders are at a crossroads as CFOs push to scale and digitize their functions, but talent shortages and skill gaps now eclipse technology as the primary obstacle. A Gartner survey of 100 CFOs through February 2026 shows cost optimization and...
IASB Releases Rate-Regulated Company Standard
The International Accounting Standards Board issued IFRS 20, a new standard for rate‑regulated entities such as electricity, water and gas utilities. It requires firms to record regulatory assets and liabilities so that revenue and expenses align with the period services are...
Centri Scores $20M Credit Facility
Centri Business Consulting, a Philadelphia‑based regional advisory firm, has secured a $20 million credit facility from Citizens Financial Group. The financing will fund acquisitions, leadership hires, and the expansion of service offerings across its eight‑office footprint. Centri, which posted $48.85 million in...
What Can We Learn From CBIZ?
CBIZ’s acquisition of Marcum initially lifted its share price to $90, but by March 2026 the stock plunged to $26.66, a 70% decline that highlights execution risk in accounting‑firm roll‑ups. Private‑equity investors remain unperturbed, focusing on medium‑term integration rather than...
SEC Semiannual Reporting Option Stirs Friction
The SEC has issued a proposed rule that would let public companies elect to file financial statements semi‑annually instead of quarterly, sparking a heated debate among investors, auditors and regulators. The 60‑day comment period comes as SEC Chair Paul Atkins,...
Sales Tax Is Coming for Your Small Business Clients
Sales and use tax has moved from a back‑office issue to a front‑row priority for small‑business advisors, driven by the Wayfair decision and the pandemic‑era surge in online sales. Vertex data shows 681 rate changes and new taxes in 2025,...
New York Plans Tax on Homes over $1M Purchased with Cash
New York lawmakers are drafting a 1% levy on all‑cash home purchases exceeding $1 million in the city, projected to raise about $160 million for the FY 2027 budget. The proposal may later expand to cover cash transactions over $1 million across the state....
Long-Stalled Crypto Market Bill Wins Key Senate Committee Vote
The Senate Banking Committee voted 15‑9 to advance the "Clarity Act," a landmark bill that would make the Commodity Futures Trading Commission the primary regulator of most crypto activities while leaving digital securities under the Securities and Exchange Commission. The...
$35B in Tariff Refunds Cleared for Importers so Far
The U.S. Treasury is set to disburse over $35.5 billion in tariff refunds to importers after a Supreme Court ruling declared President Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs unlawful. A new online portal has...
US Sees Smaller April Budget Surplus on Lower Tax Receipts
The U.S. Treasury reported a $215 billion budget surplus for April, 17% lower than the same month a year earlier. Total federal revenue fell 2% to $837 billion, driven by a 6% drop in individual tax withholdings and an 8% decline in...
Sorren Acquires Maryland Firm
Sorren, the Idaho‑based accounting firm backed by DFW Capital Partners, announced the acquisition of Maryland‑based Gorfine, Schiller & Gardyn (GSG). The deal gives Sorren its first office in Owings Mills and deepens its presence in the Mid‑Atlantic. At the time of...
Whitman Launches Leadership Development Group
Whitman Advisory, Maxwell Leadership and Lions Pride Leadership have teamed up to launch CPA Leadership Group, a new leadership development and coaching platform aimed at the nation’s top 100 accounting firms. The group will help firms consolidate fragmented leadership structures...
Tax Noncompliance Growing Among Federal Employees, Retirees
The Treasury Inspector General for Tax Administration (TIGTA) reported that over 571,000 current and retired federal employees now owe about $6.3 billion in taxes, a 32% increase since FY2021 despite a stable workforce. The number of delinquent cases rose 43% between...
Internal Auditors Confront Fraud Risks
Internal auditors are confronting a heightened fraud risk as schemes become more sophisticated and internal controls erode over time. A joint report from the Center for Audit Quality, the Institute of Internal Auditors and the Anti‑Fraud Collaboration outlines how auditors...