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News•Feb 25, 2026
Practice Profile: Giving Everyone a Piece of the PE Pie
Citrin Cooperman, after private‑equity backing from New Mountain in 2021 and a Blackstone stake in 2025, rolled out a firm‑wide "P unit" program that gives every employee a share of the firm’s equity growth. The participation units vest based on performance and tenure, and the first distribution paid out millions of dollars to staff. With 3,592 employees across the U.S. and India now holding units, the initiative has been credited with strengthening culture, boosting retention, and accelerating recruitment, especially in talent‑tight markets.
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Deals•Feb 25, 2026
Sorren Acquires Connected Accounting to Expand in California
Sorren, a Meridian‑based accounting firm, announced the acquisition of Connected Accounting, a technology‑focused firm in Los Angeles, to broaden its California footprint. The terms were not disclosed, and the deal aligns with Sorren’s strategy of integrating digital platforms across its...
Accounting Today
News•Feb 24, 2026
Forvis Mazars Global Revenue Grows 11% to $5.7B
Forvis Mazars reported $5.7 billion in global revenue for fiscal years 2024‑2025, marking an 11 % year‑over‑year increase. Audit and assurance contributed 45 % of the top‑line, while tax, advisory and outsourcing made up the remainder. The firm’s U.S. segment grew 4 % to...
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News•Feb 24, 2026
IRS-CI Uses Bank Filings in Nearly All Criminal Investigations
The IRS Criminal Investigation (IRS‑CI) unit relied on Bank Secrecy Act (BSA) filings for 94% of its FY25 probes, conducting over 3.9 million searches. BSA data linked to 89% of cases, directly originating 11.7% of investigations. Tax‑related fraud investigations uncovered $2.9 billion...
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News•Feb 24, 2026
GAO Calls for Stricter IRS Oversight of Tax Preparers
The Government Accountability Office released a report warning that unpaid tax preparers, especially unenrolled ones, frequently make serious errors that can cost taxpayers benefits and trigger audits. Over half of individual filers used a paid preparer in fiscal year 2024,...
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News•Feb 24, 2026
NABA and TSCPA Partner on Accounting Pipeline
The National Association of Black Accountants (NABA) and the Tennessee Society of CPAs (TSCPA) have formed a partnership to combat the accounting talent shortage. The collaboration will coordinate student‑focused programs, mentoring, networking, and professional‑development initiatives. TSCPA becomes the first state...
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News•Feb 24, 2026
COSO Releases Guidance on Internal Controls for AI
The Committee of Sponsoring Organizations (COSO) issued new guidance on internal controls tailored for generative AI. It adapts COSO’s five‑component framework—control environment, risk assessment, control activities, information & communication, and monitoring—to address AI’s probabilistic, dynamic, and scalable nature. The guidance...
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News•Feb 24, 2026
How Wealth Management Partnerships Can Benefit CPA Practices
CPA firms face a talent crunch and rising technology costs, prompting many to reconsider traditional growth routes. In 2024, financial‑services acquirers accounted for 32.9% of accounting sector deals, up from 18.9% in 2023, highlighting a shift toward wealth‑management partnerships. Such...
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News•Feb 24, 2026
What Brought Down Botkeeper?
Botkeeper announced its shutdown in early February, blaming a "perfect storm" of macro‑economic shifts and unexpected industry consolidation. Experts say rapid mergers among large CPA firms dramatically shrank Botkeeper's addressable market, exposing the weakness of its flat‑rate subscription model. The...
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News•Feb 23, 2026
Haefele Flanagan Strengthens Nonprofit Practice
Haefele Flanagan announced the acquisition of Mig Murphy Sistrom CPA PC, a Durham‑based nonprofit accounting firm. The deal brings founder Mig Murphy Sistrom and seven employees into HFCO, raising its headcount to 60. By adding specialized nonprofit advisory talent, HFCO moves beyond pure compliance into strategic...
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News•Feb 23, 2026
Trump Pegs New Tariffs to a Payments Crisis Experts Doubt
President Donald Trump invoked Section 122 of the 1974 Trade Act to impose a 15% tariff on a broad range of imports, framing it as a response to a purported balance‑of‑payments crisis. Treasury Secretary Scott Bessent described the duties as a...
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News•Feb 23, 2026
The New Frontier of Stablecoin Reporting
The Genius Act, the first U.S. federal framework for payment stablecoins, imposes strict issuer eligibility, dual federal‑state oversight, one‑to‑one reserve backing, and monthly reporting verified by accountants. The AICPA responded with a March 2025 presentation and disclosure framework, recently updated to...
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News•Feb 23, 2026
BDO Adds Most New SEC Clients in Q4
BDO USA secured the most new SEC audit clients in Q4 2025, largely thanks to its November 2025 acquisition of Mississippi‑based Horne. Nine of the Top 10 Firm’s ten new engagements originated from Horne, propelling BDO ahead of peers. CBIZ followed...
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Deals•Feb 23, 2026
Haefele Flanagan Acquires Mig Murphy Sistrom CPA PC to Strengthen Nonprofit Practice
Haefele Flanagan announced the acquisition of Mig Murphy Sistrom CPA PC, a Durham‑based nonprofit accounting firm. The deal adds the founder and seven employees to Haefele Flanagan, expanding its nonprofit advisory capabilities and bringing its headcount to 60.
Accounting Today
News•Feb 20, 2026
Advisory Services: Pruning for Growth
Accounting firms are rapidly losing compliance work to AI and automation, prompting a shift toward advisory services. Experts advise firms to prune low‑margin clients and replace them with high‑value, advisory‑ready relationships. Scaling requires moving from ad‑hoc consulting to structured, team‑based...
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News•Feb 20, 2026
Doeren Mayhew Adds Alabama Firm
Doeren Mayhew announced the acquisition of Birmingham‑based CPA firm Dent Moses and its affiliate Impact Technology Group, effective Feb. 10. The deal adds Doeren Mayhew’s first Alabama office, nine principals and roughly 65 staff, expanding its Southeast footprint. Impact Technology brings...
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News•Feb 20, 2026
AICPA Wants More Guidance on R&D Expensing
The American Institute of CPAs (AICPA) has formally requested the Treasury and IRS to issue clearer guidance on the election rules for domestic research and development (R&D) expenses under the One Big Beautiful Bill Act (OBBBA). The OBBBA reverses the Tax Cuts and Jobs...
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News•Feb 20, 2026
Tech News: Xero Announces Online Bill Pay
April announced a suite of fintech collaborations, pairing its free‑tax filing service with Acorns and Robinhood to let users file federal and state returns at no cost and receive refunds faster. Armanino partnered with Accrual to pilot an AI‑native accounting...
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News•Feb 18, 2026
AI Connected to Slightly More Hiring, but Growth Favors Older Workers with Less Exposure
Payroll data from Gusto shows that small businesses that increase AI‑exposed work see modest revenue gains and a slight rise in hiring. For every 10‑point boost in AI exposure, monthly revenue climbs about 2.2% after six months, while headcount grows...
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News•Feb 18, 2026
Japan Accounting Group Seeks to Ease Insurer Bond Loss Rule
The Japanese Institute of Certified Public Accountants (JICPA) has proposed treating life insurers' government‑bond holdings as held‑to‑maturity, removing the need for impairment accounting when certain criteria are met. Under current rules insurers must record a loss if market value falls...
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News•Feb 17, 2026
AI Transforms Accounting at Bonadio
Bonadio Group, a Rochester‑based accounting firm, is scaling artificial intelligence across its core services. CEO Bruce Zicari says AI now handles data‑entry tasks in reconciliations, financial reporting, tax preparation and expense management, freeing professionals for higher‑value advisory work. The firm...
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News•Feb 16, 2026
Crypto Cost Basis Gaps Create Civil and Criminal Tax Exposure
Crypto taxpayers are increasingly exposed to tax liabilities because many cannot substantiate the cost basis of their digital assets. When the IRS cannot verify basis, it treats the entire proceeds as taxable gain, potentially invoking civil penalties or criminal fraud...
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News•Feb 12, 2026
Tax Fraud Blotter: Pandemic Pandemonium
Recent federal cases reveal a wave of tax fraud spanning the pandemic era, from a Florida tax preparer who filed 458 false returns costing the IRS $12.9 million to a Georgia group that siphoned $1.3 million in COVID‑related credits. A mining business...
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News•Feb 12, 2026
IRS Gives Guidance on Energy Tax Credits, Prohibited Foreign Entities
The IRS and Treasury issued Notice 2026‑15 to clarify how the One Big Beautiful Bill Act’s new foreign‑entity restrictions apply to clean‑energy tax credits. The notice defines “prohibited foreign entity,” outlines a material‑assistance cost‑ratio calculation, and provides interim safe‑harbor tables for Sections 45Y, 48E and 45X. Taxpayers can...
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News•Feb 12, 2026
Xero Sees 'Emotional Tax' On Small Business From Financial Stress
Xero’s Emotional Tax Return 2026 Report reveals that 81 % of U.S. small‑business owners feel more stressed than in prior years, losing the equivalent of 33 working days annually to financial worry. Rising costs (44 %) and unpredictable demand (28 %) are the...
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News•Feb 12, 2026
ACFE, Grant Thornton Team on Anti-Fraud Blueprint
The Association of Certified Fraud Examiners (ACFE) and Grant Thornton have launched an Anti‑Fraud Blueprint, a practical guide that expands on the 2023 Fraud Risk Management Guide. The Blueprint delivers step‑by‑step actions, checklists, and a maturity‑assessment model to help firms...
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News•Feb 12, 2026
M&A Roundup: Deals From New Mexico to Maryland
A flurry of M&A activity reshaped the professional‑services landscape in February 2026. Richey May entered the Maryland market by acquiring boutique tax firm Wagner Kaplan, while Bowers expanded its New York footprint with Sciarabba Walker. Capstone added New Mexico’s Peltier Gustafson & Miller, Aldrich Solutions bolstered its...
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News•Feb 12, 2026
Depreciation, Recapture and the Illusion of Tax Savings
Depreciation provides early tax deductions, improving cash flow, but it merely postpones tax liability. When the asset is sold, depreciation recapture taxes the portion of gain attributable to prior deductions, often creating a sizable bill. This dynamic exists in multiple...
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News•Feb 12, 2026
ICON Shares Plunge After Launching Accounting Probe
ICON Plc announced that a preliminary accounting probe suggests its 2023 and 2024 revenues may have been overstated by less than 2%, prompting the company to withdraw its annual guidance and delay its fourth‑quarter earnings release. The disclosure triggered a...
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News•Feb 11, 2026
Frazier & Deeter Makes Plans for Acquisitions
Frazier & Deeter, an Atlanta‑based Top 50 accounting firm, is finalizing the integration of three firms it acquired in 2023 while positioning for further selective deals. Under new CEO Jeremy Jones, the firm has grown revenue from $29 million to over $200 million...
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News•Feb 11, 2026
AI Native Accounting Foundation Launches to Cut AI Hype
The AI Native Accounting Foundation, a new nonprofit, was launched to help accounting and finance professionals cut through AI hype and adopt practical, responsible solutions. Founded by Kacee Johnson and Bebe Kim, the group will operate vendor‑neutrally while offering education,...
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Deals•Feb 9, 2026
Richey May Acquires Wagner Kaplan to Enter Maryland Market
Colorado-based Richey May announced on Feb. 9 that it has acquired Wagner Kaplan, a boutique tax firm in Rockville, Maryland. The acquisition marks Richey May’s entry into the Maryland market, expanding its national footprint. Deal terms were not disclosed.
Accounting Today