04/24/2025

Well, hi there! Sit back, enjoy, and relax as you’re currently on the Daily Accrual.

Every day, I sift through the accounting noise so you don’t have to. I share to you the most relevant, juicy accounting insights that really matter – nothing phony, just some good, accounting testimony! 

📊 Accountants Gone WILD

Paul Atkins was sworn as SEC chair on April 21, 2025, following his Senate confirmation and President Trump’s executive order targeting anti-competitive regulations. The government order mandates all agencies, including the SEC, to review rules that hinder competition and submit recommendations after a set public comment period.

Atkins, known for his free-market views and past criticism of the PCAOB, is expected to support deregulatory changes soon. Industry leaders welcome the shift, citing overly aggressive PCAOB enforcement, while investor advocates remain wary that the move overlooks protections critical to maintaining market integrity in various platforms.

Source: Thomson Reuters

🧮 COOL AF! (Cool Accounting Facts!)

The U.S. tax preparation industry is a cash grab machine that processes over 160 million tax returns a year, generating more than $11 billion annually! 

With more than 90 million Americans going to professionals for help (and over 151 million e-filing), accounting remains the financial backbone of tax season.

It’s no wonder average taxpayers shell out $176 to keep the IRS at bay. So, if you're an accountant reading this —  Keep calm and lock in, excel ninjas!

Let’s face it: you’ve got accounting down to a science. But when it comes to healthcare regulations — HIPAA, Stark Law, HITECH, you might just feel like drowning in a sea of legalese. Wisdify’s got you covered with our new Healthcare Accounting Course series!

These professional courses will give you the necessary knowledge in healthcare regulatory compliance like a pro, without needing a law degree! Complex healthcare topics (like HIPAA and Stark Law) are broken down in a way that’s healthcare accounting newbie friendly.

Ready to learn deeper into this high-demand niche? Stay tuned for new courses tackling everything from healthcare regulatory frameworks to revenue recognition in healthcare, making your compliance game strong!

🔢Numbers Don’t Lie

Grant Thornton US is expanding its multinational platform by integrating sister firms from the UAE, Luxembourg, and the Cayman Islands. This move strengthens global advisory, tax, audit, and assurance services to all over 50 offices and 13,000 professionals, focusing on key sectors like banking, insurance, asset management, and energy.

The new firms will join a holding company, Grant Thornton Global Advisors, alongside U.S. partners and investors. Leadership remains regional, with Jim Peko continuing as CEO of Grant Thornton Advisors. The platform, still pending regulatory approval, continues to be part of the Grant Thornton network, with further expansion talks underway, including the Netherlands.

Source: CPA Practice Advisor

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