The Monday Accrual: November 03, 2025

Accountants Gone Wild

IRS Workforce Shutdown Results into Taxpayer Service Failures

Layoffs and furloughs continue making the IRS struggle, causing severe delays and inconsistent resolutions. Real-world outcomes include $40,000 refund errors that ballooned into a $500,000 tax notice.

The ongoing instability might delay the 2026 tax season, pushing skilled workers away. Experts are now urging taxpayers to file their taxes electronically and prepare early on to avoid further setbacks.

Source: Thomson Reuters

Cool Accounting Facts!

How did random scribbles establish the way for digital audit trails?

Back in the paper-ledger days, accountants didn’t remove mistakes: they’d neatly cross them out but keep them visible.

Corrections tell stories of what changed, who changed it, and why, becoming the foundation of today’s digital audit books.

Proof that in accounting, even our mistakes deserve full transparency—and greatest spot in accounting history.

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Numbers Don’t Lie

Auditing Oversight Weakens as Enforcement Hits Record Lows

Reports indicate SEC and PCAOB audit enforcement plunged in 2025 after leadership changes. Nearly all 32 PCAOB actions and $17.4 million in fines occurred before Chair Erica Williams’s resignation.

PCAOB activity hit the second-highest level since 2017 early in the year. Experts predict 2026 will bring renewed focus on foreign audits, fraud detection, and individual accountability under new leadership.

Source: CPA Practice Advisory

Twitter Showdown

“Relationships”

Accountant 1: “What’s your love language?”

Accountant 2: “Debits and credits - everything in balance.”

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