Professional Issues


The AICPA peer review board seeks members’ comments on an exposure draft (ED) proposing revisions to the standards for performing and reporting on peer reviews. The proposal includes, for example, revisions to the objectives of system reviews, transparency of reporting and type of peer review required. If adopted, the revised standards will be effective for reviews beginning on or after January 1, 2005; early implementation will not be permitted. Comments on the ED, which is available online at www.aicpa.org/members/div/practmon/2003_05_ed.asp , are due August 8.

SPONSORED REPORT

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.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

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.