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Expert warns: IRS has what it needs to pursue more audits

June 06, 2024

The IRS now has enough money that it can hire more experienced workers to audit both companies and individuals, and it does not have to pick and choose among whom to audit, a managing director at Grant Thornton told attendees at AICPA & CIMA ENGAGE 2024 in Las Vegas.

  • accounting and auditing
  • federal tax

GASB updates its financial reporting blueprint

May 29, 2024

GASB issued guidance aimed at improving the blueprint for government financial reports that it established a quarter-century ago.

  • accounting and auditing

PCAOB updates general auditor responsibilities, quality control rules

May 14, 2024

The PCAOB on Monday adopted a pair of foundational auditing standards with ties to AICPA standards.

  • accounting and auditing

When ESG reporting becomes a maze, technology provides a map

May 13, 2024

Ninety-two per cent of professionals across finance, accounting, sustainability, and audit roles think technological transformation will enable an integrated and improved approach to ESG reporting.

  • accounting and auditing
  • business and industry
  • practice management
  • technology and cybersecurity

Can CPA requirement changes solve finance’s talent shortage?

May 10, 2024

CFOs and finance leaders share their takes on whether CPA requirement changes are necessary to address talent issues within corporate finance.

  • accounting and auditing
  • business and industry
  • career resources
  • practice management

Accountants share how they're using AI

May 06, 2024

While many accountants are determined to stay as far away from artificial intelligence as possible, others have found ways to use the technology to yield tangible benefits for their firms (see "Accounting's reluctant AI revolution").

  • accounting and auditing
  • business and industry
  • practice management
  • technology and cybersecurity

53% of CFOs have adopted or are adopting ESG principles: Report

May 01, 2024

The proportion of CFOs integrating ESG concerns into core business strategies has soared in the past year.

  • accounting and auditing
  • business and industry

Root cause analysis: Auditor tool gaining traction on multiple fronts

April 30, 2024

A new PCAOB spotlight report provides staff observations regarding the potential positive impact of performing a root cause analysis on the quality of audits performed by PCAOB-registered public accounting firms.

  • accounting and auditing

CTCPA Joins AICPA, State Societies in Letter to Address 'Grave Concerns' with BOI Reporting, Request One-Year Delay

April 08, 2024

In a recent letter to the Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), the American Institute of CPAs (AICPA) and CTCPA, together with 54 state CPA societies, expressed serious concerns with the rollout and push to implement FinCEN’s Beneficial Ownership Information reporting requirement without regard for the impact to the small business community.

  • accounting and auditing
  • advocacy - federal
  • boi

CTCPA Joins AICPA, State Societies in Letter to Address 'Grave Concerns' with BOI Reporting, Request One-Year Delay

April 08, 2024

In a recent letter to the Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), the American Institute of CPAs (AICPA) and CTCPA, together with 54 state CPA societies, expressed serious concerns with the rollout and push to implement FinCEN’s Beneficial Ownership Information reporting requirement without regard for the impact to the small business community.

  • accounting and auditing
  • business and industry
  • advocacy - federal
  • boi

A&A Focus recap: Lease challenges, SAS 145, and fraud

March 18, 2024

The March 6 installment of the AICPA's monthly A&A Focus Series webcast updated members on critical accounting, auditing, and assurance issues.

  • accounting and auditing

4 things CPAs need to know about SEC climate rule

March 15, 2024

The 886-page rule on climate-related disclosures adopted last week by the SEC doesn't make for light reading, but a resource published by the AICPA and the Center for Audit Quality (CAQ) sheds some light in 883 fewer pages.

  • accounting and auditing

DOL Enacts New Independent Contractor Test

March 06, 2024

The Department of Labor has announced a six-factor test for determining whether a worker is an independent contractor or an employee under the Fair Labor Standards Act. This new rule takes effect on March 11, 2024.

  • accounting and auditing
  • business and industry
  • practice management
  • advocacy - federal

With 340,000 fewer accountants, companies pay the price

March 01, 2024

Mistakes continued to pile up this earnings season in the wake of Lyft Inc.'s market-roiling typo: Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the Securities and Exchange Commission.

  • accounting and auditing
  • business and industry

NPAG national pipeline surveys open for responses

February 29, 2024

The National Pipeline Advisory Group (NPAG) on Thursday opened the response period for its national pipeline survey and its survey for college students, which will shape profession-wide efforts to address the accounting talent shortage.

  • accounting and auditing
  • business and industry
  • career resources
  • practice management
  • advocacy - state
  • advocacy - federal

GASB's 40th Anniversary

February 20, 2024

The GASB held its first meeting on June 14, 1984, at the Board’s offices in High Ridge Park in Stamford, CT. Since that day, our Board and staff have worked to develop and maintain high-quality accounting and financial reporting standards for state and local governments across the United States. Ultimately, those standards have helped ensure that users of government financial statements have access to information they can use to make decisions and assess accountability.

  • accounting and auditing

7 warning signs that an ERC claim is questionable, from the IRS

February 13, 2024

The IRS alerted small businesses to seven warning signs that could indicate that their employee retention credit (ERC) claim is questionable and to help them resolve issues before a March deadline for a special disclosure program.

  • accounting and auditing
  • practice management
  • federal tax

Be a better leader by making stress your friend

February 05, 2024

Stress can be disabling but Lucy Cohen, one of the headline speakers at the Festival of Accounting & Bookkeeping, explains that harnessing the benefits can change you as a leader.

  • accounting and auditing
  • business and industry
  • career resources

Sustainability incentives: A bonus for company leaders

January 26, 2024

More than four in five companies in a global study offered ESG-related executive incentives in 2023, up from two in three companies just two years ago.

  • accounting and auditing
  • business and industry

ESG needs business – not just environmental – focus

January 24, 2024

Richard Spencer, ICAEW’s director of sustainability, talks to Neil Cutting about the need for finance leaders to view sustainability through a business lens.

  • accounting and auditing
  • business and industry
  • practice management