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Public companies received new guidance from the SEC on the disclosures they should make related to cybersecurity.
FASB proposed adding a new U.S. benchmark interest rate to the list of rates permitted in the application of hedge accounting.
FASB issued new rules that provide financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.
The IRS is proposing to remove 298 regulations that have no current or future application to the Internal Revenue Code.
Recently issued supplemental draft guidance is designed to help organizations apply enterprise risk management (ERM) principles to environmental, social, and governance (ESG)-related risks.
The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.
The Tax Cuts and Jobs Act provides many issues for audit committee members to consider in their oversight of financial statements, external auditors and risk management.
President Donald Trump announced that he will nominate Charles Rettig, a tax attorney from California, to be the new Commissioner of the Internal Revenue Service.
In this Q&A, AICPA policy experts discuss wide-ranging implementation challenges and members’ role in advocating for guidance and technical corrections.
FASB is moving quickly to give financial statement preparers a targeted improvement in their accounting for effects of the new tax reform law.
Companies with deferred tax assets may report surprisingly lower net income in 2017 even though they will benefit from lower income tax rates under the new tax law in 2018.
The IRS revealed that the recalculated 2018 pension contribution limits are unchanged from the numbers issued before the tax reform bill was enacted.
The IRS’s Office of Professional Responsibility has implemented a new process for informing practitioners that they are under investigation for violations of Circular 230.
An AICPA committee has asked FASB to provide relief for private companies and certain conduit debt obligors from some elements of the new revenue recognition standard.
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued its annual reminder of the due date for filing FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
GASB is seeking public feedback as it develops a revenue and expense recognition model for state and local government accounting.
The AICPA Financial Reporting Executive Committee sought public comment on seven new revenue recognition implementation issues to be added to the AICPA’s revenue recognition guide.
Paul Sobel, the chief audit executive of Georgia-Pacific, replaces Bob Hirth as the chairman of the Committee of Sponsoring Organizations of the Treadway Commission.
The effective date for implementing FASB’s new lease accounting standard is still about one year away, but it will require additional resources and a team effort.