Professional Issues

The AICPA professional issues task force issues Practice Alert 2003-3, Acceptance and Continuance of Clients and Engagements, to give practitioners and their firms guidance on establishing policies and procedures for deciding whether to accept or continue a client relationship and whether to perform a specific engagement for that client ( ). The alert discusses the following elements of an effective client acceptance program: availability of competent personnel; communication with predecessor accountants, including auditors; assessment of management’s commitment to the appropriate application of GAAP and implementing and maintaining effective internal controls; assessment of the entity’s financial viability; auditor independence and objectivity; inquiries of third parties and background investigations. The task force encourages AICPA member firms to incorporate the alert’s guidance as soon as practicable.


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.