Professional Responsibility Comes First


I disagree with the points made in “ Pay for Performance ” ( JofA, Jun.02, page 24).

The goal of partner compensation should not be “to inspire the most profitable performance.” Profits are good, but only after assuring each partner diligently exercises his or her professional responsibilities. Partners who accept substandard financial reporting or auditing may for awhile have very profitable performance, but they jeopardize their careers, their firms and our profession.

Charles Toder, CPA (retired)
New York City


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.