Today's business environment comes with its own unique set of challenges. Now, more than ever, it's becoming increasingly important for finance and accounting candidates to showcase additional soft skills outside of their core competencies, emphasizing strengths in areas like communication, technology and leadership.
The G7 announced a framework for a global minimum tax last week. In this episode, Amy Wang Miller, CPA, J.D., senior manager with the AICPA’s Tax Policy & Advocacy team, explains what the framework means, what accounting and finance professionals can expect next, and what the future of a global minimum tax looks like.
The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) that would improve discount rate guidance for lessees that are not public business entities—including private companies, not-for-profit organizations, and employee benefit plans.
Young accounting professionals who don't want to pursue CPA licensure cite a lack of time and professional need to do so, according to a new report from the Illinois CPA Society.
The American Institute of CPAs and the National Association of State Boards of Accountancy debuted their CPA Evolution Model Curriculum on Tuesday during a free online launch event.
The increasing number of hours devoted to Sarbanes-Oxley compliance, along with the COVID-19 pandemic, have accelerated the need to use technology and automation to cope, according to a new survey.
Even in this era of rapid technological change, foundational accounting skills are still among the most important career advantages for finance professionals, according to one CFO.
The American Institute of CPAs’ Auditing Standards Board amended its standards Tuesday to include guidance on the use of specialists and pricing information.
The largest auditing firms continued to boost their share of the public company audit market in 2020, according to a new report, but the gains were distributed differently than in the previous year.
The AICPA Auditing Standards Board issued a standard Tuesday that provides guidance on the use of specialists and pricing information obtained from external information sources.
The CARES Act allocated significant amounts of money in new aid to non-federal entities requiring many of them to complete a single audit perhaps for the first time. A single audit also requires the financial statement audit to be performed under Government Auditing Standards (GAS). You may be asked to perform single audit engagements as your clients navigate the requirements of the CARES Act.
Clients anticipate that audit fees will increase nearly two-thirds in 2021 due to the impact of inflation, COVID-19, acquisitions and divestitures, according to a survey by Gartner.
The Governmental Accounting Standards Board (GASB) today issued implementation guidance in the form of questions and answers intended to clarify, explain, or elaborate on certain GASB pronouncements.
Responding to the COVID-19 pandemic was very much on the agenda at the Financial Accounting Foundation in 2020, but that didn’t keep it, and the two U.S. accounting standard-setting boards that it oversees, from a busy agenda that included major leadership changes, continued stakeholder outreach, and the release of a number of standards.
The Financial Accounting Foundation (FAF) today posted its 2020 Annual Report to the FAF website. The report is available as a printable PDF file and as an interactive digital version.
A sizable chunk of private companies still aren’t ready to implement the new lease accounting standard before the end of the year, despite postponements in the deadline due to the pandemic.
Earlier today, the Financial Accounting Standards Board (FASB) hosted a virtual roundtable on implementation of the current expected credit losses (CECL) standard and related technical issues.
The AICPA Auditing Standards Board’s (ASB’s) plans to finalize a new risk assessment standard at its August meeting should be welcome news for many practitioners.
The number of audit firms registered with the Public Company Accounting Oversight Board declined from 2019 to 2020, continuing a decade-long trend.
In a brief statement issued late Thursday night, the SBA said that it had completed rigorous testing on the portal, which was forced to shut down due to technical issues only hours after it opened on April 8. The SBA also provided updated documents and guidance Friday. The agency said that interested applicants should register for an account in advance through the portal.