Money Laundering

The federal financial institutions regulatory agencies—the Federal Reserve System, the Federal Deposit Insurance Corp., the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision—issued Bank Secrecy Act procedures that guide implementation of, and provide a consistent approach to examining, the customer identification programs (CIP) that domestic and foreign banking organizations were required to establish under section 326 of the USA Patriot Act. By October 1, 2003, each financial institution had to establish and incorporate into its anti-money-laundering compliance program a written CIP appropriate to the institution’s size and type.


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.