Accounting


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Testifying before the House Financial Services Committee on behalf of the profession, AICPA President and CEO Barry C. Melancon backs reforms—including creating a new private-sector regulatory board—to restore investors’ confidence in the nation’s financial reporting system. And Chairman James G. Castellano, with other leaders of the profession, urges the Senate Banking Committee to support measures that would enhance audit quality and make corporations accountable for issuing accurate financial reports and being truthful with auditors. Meanwhile, FASB Chairman Edmund L. Jenkins addresses the prospect of greater government oversight of the standard-setting process in a position paper, The FASB’s Role in Serving the Public: A Response to the Enron Collapse ( www.fasb.org ), reiterating the importance to investors and the U.S. capital markets of preserving the board’s role as an independent, private-sector standard setter not subject to the political pressures a government body—such as the SEC—faces.

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

COLUMN

Deflecting clients’ requests for defense and indemnity

Client requests for defense and indemnity by the CPA firm are on the rise. Requests for such clauses are unnecessary and unfair, and, in some cases, are unenforceable.