New FAQs and Q&As issued

Resources aid practitioners with PFP standards and American Land Title Association framework.

New additions to a frequently asked questions (FAQ) resource provide nonauthoritative guidance to help practitioners who practice in the areas of estate, retirement, risk management, and investment planning to comply with Statement on Standards in Personal Financial Planning Services No. 1 (AICPA, Professional Standards, PFP Sec. 100).

The FAQs originally were published in January 2014 along with the standards, which apply the AICPA's rigorous Code of Professional Conduct and enable oversight in this growing area of practice.

A year later, Questions 11—13, 31—34, 36—47, and 51—54 were added to the document.

The standard and FAQs are free resources available to all professionals.

ALTA 'Best Practices'

The AICPA issued new technical questions and answers to provide nonauthoritative guidance to practitioners in connection with the "Best Practices" framework of the American Land Title Association (ALTA).

The Q&As are designed to guide practitioners in work they perform related to the framework. Questions and Answers (Q&A) Section 9540.01—.05 (AICPA Technical Questions and Answers) describes the types of engagements a practitioner may perform, the applicability to an attest engagement, the sustainability of criteria, the nature of examination or review procedures, and the form and content of the 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.


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.