Keeping you informed and prepared amid the coronavirus crisis
Updated daily
The spread of the novel coronavirus presents serious concerns and challenges for many around the world. To help, below we’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos from the Journal of Accountancy. You can also read the latest news on advocacy and tax relief, the CARES Act, and the Paycheck Protection Program.
The Association, the global voice of the American Institute of CPAs and the Chartered Institute of Management Accountants, is continually monitoring the impact of the coronavirus (COVID-19) on members, staff, exam candidates, students, and the profession. Visit this page on AICPA.org for updates and details about where to find the information you need.
Divestitures, spinoffs and carveouts are business strategies that may be pursued by more companies amid the economic fallout from the coronavirus pandemic. These tips can assist in the accounting for these moves.
The economic slump resulting from the pandemic has increased the risk of asset write-downs and added to the pressure on auditors to scrutinize impairment models. Company boards also are paying more attention to forecasting and impairment.
With so many organizations financially affected by the COVID-19 pandemic and making an abrupt shift to remote working, there’s a perfect storm for increased fraud in financial statements. Take this quiz to see if you know your responsibilities for auditing fraud risks in your engagements.
The IRS announced that it was extending taxpayers’ ability to file a number of forms using electronic signatures due to the pandemic. The limited relief extends the authorization through June 30, 2021.
Firms share the approaches they are using to keep employees safe, and HR experts advise firms to stay current with their state’s guidance, know their rights as employers and communicate policies clearly to staff.
The coronavirus pandemic has dramatically disrupted the focus and procedures involved in many audits. These tips provide best practices, fraud considerations and new procedures practitioners may wish to use.
The coronavirus pandemic has caused the risks of material misstatement and fraud to change substantially for many audit clients. Here’s how practitioners can continue delivering high-quality audits in this environment.
PCAOB inspectors will focus more in 2021 on industries and audit areas that have experienced disruption as a result of the coronavirus pandemic. Inspectors also will try to become more unpredictable in the audits and areas they examine.
