KPMG lays off 10% of US audit partners
Big Four firm KPMG is eliminating approximately 100 partners in its U.S. audit and assurance practice, after not enough of them accepted an early retirement program.

IRS panel calls for changes in notices, forms, tools
The Taxpayer Advocacy Panel issued its annual report calling for improvements and greater clarity in notices, forms and publications after a year of turbulence.

Accounting Today calls for Top Firms by AUM for 2026
The survey window for our "Wealth Magnets" annual ranking of the top CPA financial planners by assets under management is now open.

Tech news: Diligent touts AI Board Member and Agentic GRC Workforce
Plus, Gusto announces 75 new features; Infinite Ties launches new FanCAS-Kit; and other accounting tech news and updates.

On the move: Maillie names next MP
CohnReznick opens seventh California office and adds international tax partner; Aprio appoints real estate industry leader; and more news from across the profession.

Cannabis tax relief is here, for some
The Justice Department's order delivers meaningful tax relief to the medical cannabis industry and signals a serious federal effort to align with state laws.

Hedge fund collapse sparks global hunt for almost $600M
The blue-chip auditing firm of Deloitte is being sued after signing off on the fund's financial statements before its collapse in 2025.

An AI agent takes over a store and orders too many candles
The initial financial results have been mixed. By Luna's own accounting, the store will need to make around $500 a day to break even on monthly expenses.

Schwab imposes new account curbs as tax-aware strategies boom
Charles Schwab is becoming the latest brokerage to rein in a booming but potentially risky part of its business.

Firms need systemic approach to filter vendor hype
Tech-forward CPA firms have found that effective vendor vetting requires a systemic and intentional approach grounded not in wishful thinking but concrete business needs.