News & Updates

Thriving without private equity isn’t about rejecting progress — it’s about pursuing a different, more self-directed vision of growth and success.

We can’t easily control external factors, such as the profession’s pipeline deficit, intense tax demands and busy seasons. However, perfectionism is something we do have control over, and it’s not to be dismissed or overlooked.

As consolidation continues to reshape the accounting profession, the $5–10 million revenue tier has emerged as a critical inflection point. But the advantages of reaching this size extend far beyond M&A appeal. For firms focused on long-term growth, talent development, and market relevance, the $5–10 million tier offers a compelling combination of scale, agility and strategic optionality.

After more than 10 years auditing everything from small nonprofits to government-funded entities to Fortune 500 companies, I’ve learned one thing for certain: auditors are translators. We take confusing situations, incomplete documents, complicated processes, and sometimes chaotic financial stories and turn them into clarity. And now, with the rise of AI tools like ChatGPT, auditors also have the opportunity to bring efficiency like never before.

The next 12 months and beyond will see enterprises direct their attention to crucial areas, including AI and robotics.

A government shutdown that forces the IRS to furlough employees would seriously disrupt the 2026 filing season and harm taxpayers, the AICPA cautioned Thursday in a letter urging the agency to maintain full operations.

Legislation to modernize Virginia’s CPA licensure statutes passed a House General Laws subcommittee unanimously Jan. 29, 2026.

The IRS will stay fully staffed for the first five working days of the partial government shutdown, a lapsed appropriations contingency plan posted late last week shows — temporarily easing concerns that the IRS would furlough employees during tax filing season.

Old Dominion University economists Bob McNab and Vinod Agarwal's new economic forecast for the state and region is bleak. Agarwal told an audience at ODU Wednesday the regional economy in 2026 will be worse than last year.

After a slow start to the 2026 Virginia General Assembly session, tax conformity legislation is finally gaining momentum.

The AICPA sent a comment letter to Treasury and the IRS requesting the IRS release a contingency plan retaining 100% of IRS employees in the event of a government shutdown on Jan. 31, 2026, which would severely impact the 2026 filing season.

National Taxpayer Advocate Erin M. Collins today released her 2025 Annual Report to Congress, finding that taxpayers generally fared well in their dealings with the IRS in 2025 and that most taxpayers are likely to have a smooth experience in 2026. However, the report cautions the upcoming filing season is likely to present greater challenges for taxpayers who encounter problems.

A University of Illinois Urbana-Champaign study highlights how remote and hybrid workplace settings can create unintentional performance evaluation bias. Here’s what accounting firms can do to fix it.

Managers should lead by example in creating a low-stress environment and be prepared to proactively support employees who are experiencing destructive pressure.

A new report from CPA.com and the AICPA creates a snapshot of what a typical audit firm transformation looks like, based on feedback from 54 U.S. firms of various sizes and maturity levels.

On Jan. 27, the IRS opened the 2026 tax filing season and began accepting and processing federal individual income tax returns for tax year 2025.

Clearer rules, stronger oversight, and new opportunities are helping corporate finance leaders evaluate whether digital assets fit into their financial strategies.

On Jan. 26, 2026, the VSCPA commented on a white paper issued by the NASBA Private Equity Task Force on Oct. 24, 2025 — Alternative Practice Structures & Private Equity: Considerations and Questions for Boards of Accountancy.

Eighty-five percent of employees are saving one to seven hours a week using artificial intelligence (AI) tools, but organizations often fail to translate time savings into real business value, new data shows.

With a nasty winter storm hitting every Virginian this weekend, we'll be watching for any disaster declarations. Check back to our Disaster Recovery Resource Center for updates.