Professional Issues

Less than two weeks before its self-imposed March 31 termination, the Public Oversight Board publishes a white paper, The Road to Reform, ( ) proposing the creation—through federal legislation—of an independent organization that would assume the board’s responsibility for voluntary private-sector regulation of the profession. Among other things, the POB recommends the new body oversee and fund FASB—by means of fees imposed on public corporations—and also have the power to set and interpret auditing and independence standards, perform comprehensive annual reviews of firms auditing more than 100 public companies each year and investigate public firms’ wrongdoing, with the authority to compel testimony and obtain documents by subpoena. To protect small businesses and their audit firms from any unintended consequences of these proposals, the paper recommends making these organizations exempt from limits on the provision of nonaudit services to audit clients.


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.