AICPA Tax Division to Teach Quality Control


The AICPA Tax Division’s proposed Statement on Standards for Tax Services no. 9, Quality Control, will provide a basis of an educational effort by the Tax Division. The proposed standard was exposed for public comment in December 2005. After reviewing the comments, the AICPA Tax Executive Committee decided early this year not to move forward with it as an enforceable standard. While acknowledging the importance of quality control for tax practices, nearly all the 60 comments opposed making it an enforceable standard. Among the objections: Respondents thought enforcement would have required tax peer review, which the Tax Executive Committee wasn’t considering implementing.

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.