Tax, accounting, auditing news - Journal of Accountancy

September 10, 2026

FASB updates investment company fair value reporting standard

The amendments address stakeholder concerns that current GAAP guidance doesn’t consider a contractual restriction on the sale of an equity security when measuring the fair value of that security.

September 9, 2026

PCAOB finalizes simplified quality control amendments

QC 1000, A Firm’s System of Quality Control, will be effective Dec. 15 and could serve as the basis for the PCAOB’s future approach to inspections of public company compliance.

September 9, 2026

Risk response often doesn’t match the threat or the opportunity

While nearly 7 in 10 business leaders report increased risk, 3 in 10 rate their organization’s overall risk oversight as mature or robust. The latest version of an annual report also showed that few companies consider their risk management process to be a strategic advantage.

September 8, 2026

AICPA seeks IRS clarity on AI guidelines, CPA fees

The AICPA is seeking clarification from the IRS on guidelines suggesting that tax practitioners should pass AI-related cost savings on to clients. Concerns about language in the guidelines include the implication of not allowing for a value-pricing model and overlooking the costs of implementing and governing the technology.

September 3, 2026

CFO hires increasing; average age of hires decreasing

At the midpoint of 2026, the average age of CFO hires at large companies stood at 48.2 years old, the youngest average age in at least a decade.

September 3, 2026

Congress approves funding bill that maintains IRS budget

A stopgap funding bill headed to the president would maintain the IRS’s $11.2 billion annual budget through Dec. 11 and prevent a second $11.6 billion funding rescission for now.

September 3, 2026

Confidence in U.S. economy rises despite inflation concerns

Optimism among CPA decision-makers about the coming 12 months edges up in the quarterly AICPA and CIMA Economic Outlook Survey.

September 2, 2026

FASB proposes several incremental improvements to GAAP

In addition to language tweaks, the proposed Accounting Standards Update includes clarifications related to estimates of expected credit losses and several other topics.

August 31, 2026

IRS enforcement activity fell despite record tax collections, TIGTA says

Individual audit starts fell 30% in fiscal 2025, including a 27% drop among taxpayers with income above $400,000, as IRS staffing levels declined, TIGTA said.

August 28, 2026

Why many Americans don’t retire on their own terms

A third of middle-class Americans believe they’ll work until at least age 70, an annual retirement survey shows. But more than half of retired respondents left the workforce before age 65, suggesting that retirement timing is often shaped by factors beyond workers’ control.

August 25, 2026