Auditing


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The U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) is considering whether to amend guidance the DOL issued in 1975—Interpretive Bulletin 75-9—on evaluating the independence of auditors retained by employee benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). EBSA seeks comments from the public by December 11, 2006 ( www.regulations.gov ; docket ID EBSA-2006-0043), on whether the bulletin provides adequate guidance for plan administrators, other plan fiduciaries, participants, beneficiaries, accountants and other affected parties on determining when a qualified public accountant is independent. To help CPAs understand the more common independence rules affecting ERISA audits, the AICPA Employee Benefit Plan Audit Quality Center has prepared a comparison of the current DOL and AICPA rules ( http://ebpaqc.aicpa.org/resources/independence ).

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How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

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How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out