FASAB issues updates to technical releases
Implementation guidance for leases is among the topics included in the Federal Accounting Standards Advisory Board’s updated technical releases.
NEWS
4 ways to ‘break the bias’ and support women in your organization
Asking questions is a first step towards addressing the problem of gender inequity, says Tracey Walker of RSM US, who will share her experiences at this year’s AICPA & CIMA Women’s Global Leadership Summit.
Economic pessimism leads to drop in revenue and profit projections
Finance executives in business and industry are more pessimistic about their own businesses and the domestic and global economy, according to a quarterly US survey.
PCAOB releases review of 2021 inspections, looks forward to 2022 review
The board’s target team provides insights in four areas of focus to provide guidance for public company auditors and shape the PCAOB’s approach to future inspections.
Advice from an expert on cyber insurance coverage
Cybersecurity specialist Mike Foster shares common questions that insurance companies might ask when your company is applying for cyber insurance coverage and advice on how to address them.
AICPA recommends changing cryptoasset question
In a comment letter to the IRS, the AICPA recommended changes and clarifications regarding the tax treatment of cryptoassets or “virtual currency.”
Proposed revisions to the AICPA tax standards
The AICPA released proposed revisions to the SSTSs for public comment on Monday. The proposal includes new standards on data protection, reliance on tools, and representation of clients before taxing authorities.
A deeper dive into the Inflation Reduction Act’s tax provisions
Here’s an item-by-item review of the many tax provisions in the recently enacted Inflation Reduction Act, which creates a new corporate AMT and a host of energy tax credits.
PCAOB, China sign agreement opening door for inspections
The Statement of Protocol allows the PCAOB access to inspect Chinese companies the same way it does in other countries. The PCAOB said it plans to put the agreement “to the test” by mid-September.
AICPA disputes ‘misleading’ claims on new IRS funding, calls for service improvements
Despite “confusion and misinformation” about the Inflation Reduction Act’s allocations, concerns continue about the funding levels for taxpayer service, the AICPA’s president and CEO said.
SEC adopts ‘pay versus performance’ disclosure rules
Amendments will require public companies to disclose details about the relationship between executive compensation and financial performance.
SEC releases draft of 5-year strategic plan
The SEC aims to update its disclosure framework and upgrade its protection measures and its workforce in order to uphold its oversight of capital markets.
IRS relieves penalties for 2019 and 2020
As part of COVID-19 pandemic relief, the IRS will automatically abate failure-to-file penalties for certain tax and information returns and refund those penalties already paid.
Investing and inflation: Not mutually exclusive
Although investing in times of high inflation can be tricky, tried-and-true principles of having a well-diversified portfolio and not panicking still hold.
Diversity among CEOs, CFOs continues to rise
Executive recruiting firm Crist Kolder’s annual report shows record levels of female and racially or ethnically diverse leadership at large companies.
FASB issues proposal to improve accounting for investments in tax credit structures
The FASB issued a proposed Accounting Standards Update intended to improve the accounting and disclosures for investments in tax credit structures.
PCAOB report: Quality of audits improves in 2021 but still lacking
Deficiency rates decreased in 2021 broker-dealer audits reviewed by the PCAOB, but the board’s report calls for more progress.
Master the one-on-one meeting
Follow this advice for successful meetings with your direct reports.
Hiring managers in finance have their work cut out
Nearly four in five hiring managers in finance “expect to have to work hard” to attract and retain talent over the next year after three-fourths dealt with retention issues over the past year.
Guidance on clean vehicle tax credit
The IRS explained the new requirement that a car’s or truck’s final assembly occurred in North America to qualify for the tax credit on the purchase of clean-running vehicles.
