Financial Reporting

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released Internal Control over Financial Reporting—Guidance for Smaller Public Companies to supplement Internal Control—Integrated Framework, t he committee’s landmark 1992 publication that outlined a comprehensive framework for internal control systems. The new guidance was developed primarily to help smaller public corporations apply the framework and better comply with section 404 of the Sarbanes-Oxley Act. Nevertheless, it applies to organizations of all sizes. “COSO is offering previously unavailable, but much needed, direction on designing and implementing cost-effective internal controls,” said AICPA Vice-President of New Finance John Morrow. “Small company managers and audit committees will find it invaluable.”

The new publication can be ordered at , and an executive summary and a set of frequently asked questions and answers can be downloaded free at and , respectively.


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.