The Professional Ethics Executive Committee voted to issue an exposure draft of Proposed Revisions Related to Alternative Practice Structures.
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IRS updates FAQs on business interest limitation, premium tax credit
The updates reflect changes made in H.R. 1, P.L. 119–21, commonly known as the One Big Beautiful Bill Act.
Key signals from the SEC-PCAOB conference point to a busy new year
Susan S. Coffey, CEO–Public Accounting at the Association of International Certified Professional Accountants, shares her top takeaways from last week’s Conference on Current SEC and PCAOB Developments, including observations on audit quality improvements and hints of significant SEC activity in early 2026.
GASB issues guidance on subsequent events
GASB issued Statement No. 105, Subsequent Events, which clarifies types of subsequent events and information that should be part of disclosures related to the events.
Corporate Transparency Act, source of BOI reporting mandate, held constitutional
Despite the Eleventh Circuit holding that the Corporate Transparency Act is constitutional, an interim rule from Treasury means that domestic companies are not subject to beneficial ownership information reporting requirements.
Even an expert says: Digital asset reporting creates headaches
At the AICPA National Tax Conference, digital assets expert Nik Fahrer, CPA, sympathized with tax pros who dread the upcoming tax season because of digital asset reporting requirements.
FASB publishes its taxonomies for 2026
Available documents include the 2026 GAAP Financial Reporting Taxonomy and the 2026 SEC Reporting Taxonomy.
Accounting profession ‘essential’ to economic stability, coalition says
A coalition’s letter to the Department of Education expresses opposition to draft regulations that would exclude accounting from professional degree designation.
Audit transformation road map: New report lays out the journey
A CPA.com and AICPA survey of more than 50 firms unearthed five key themes for audit transformation and a step-by-step approach for a smooth rebuild.
IRS clarifies health savings account changes in H.R. 1 in new notice
Among other changes, the guidance explains that bronze and catastrophic plans are considered HSA-compatible under Sec. 223.
Governmental Audit Quality Center analyzes 2025 OMB Compliance Supplement
Several GAQC resources are available to assist practitioners involved in single audits and federal grant compliance with putting the delayed OMB supplement to use.
FASB issues standard to improve interim reporting
The Accounting Standard Update aims to clarify existing reporting requirements, in part by creating a comprehensive list of interim disclosures that are required in interim financial statements.
New SEC chair to CPAs: ‘Back to basics’
Paul Atkins, appearing at the AICPA Conference on Current SEC & PCAOB Developments, asked accounting professionals to focus on financial materiality and provided his thoughts on the future of the PCAOB, crypto, and IPOs.
PTEs need more notice of changes, more time to respond, AICPA says
In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations.
Government withdraws defense of retirement fiduciary rule
The Justice Department dropped its appeal in a case challenging a Biden-era regulation, leaving financial advisers free from new fiduciary duties for now.
IRS announces prop. regs. on international tax law provisions in OBBBA
The proposed regulations will deal with changes included in H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act.
PEEC releases clarifying guidance on independence in SSAE engagements
The AICPA Professional Ethics Executive Committee’s revisions clarify independence requirements and will be effective June 15, 2026.
FASB publishes guidance on accounting for government grants
A new Accounting Standards Update establishes previously missing GAAP guidance related to the recognition, measurement, and presentation of government grants received by a business entity.
Overall economic view slides, but CPAs feel better about their companies
Nearly 50% more CPA decision-makers are optimistic about their own companies versus the U.S. economy on the whole, according to the quarterly AICPA and CIMA Economic Outlook Survey.
IRS outlines details for Trump accounts
The IRS released initial details on Trump accounts, a new type of IRA for some children. Also, a billionaire business executive pledged $6.25 billion to provide 25 million children with a $250 contribution to a Trump account.
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Promises of ‘fast and easy’ threaten SOC credibility
CPAs warn that an ongoing push for high-volume SOC services may come at the cost of quality and objectivity.
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Trust distributions in kind and the Sec. 643(e)(3) election
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Effects of the OBBBA on higher education
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