This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. Read our privacy policy to learn more.
NEWS
Certain issues related to revenue recognition are causing enough application problems that the Financial Accounting Standards Board may choose to adjust the standard. But in the meantime, financial statement preparers need to apply the current rules correctly.
Regulators and standard setters are making ESG disclosures a bigger area of emphasis. But even current standards require ESG-related risks to be considered, and auditors need to know how to audit this information.
Navigating complex deals in rapidly changing markets is a high-pressure challenge. Due diligence remains essential, and it may need to be conducted in a compressed time frame.
The SEC issued rules that create new disclosure requirements for companies that issue public securities in the US but are audited by firms that are not subject to inspection by the PCAOB.
How familiar are you with AU-C Section 240, which describes an auditor’s responsibilities relating to fraud in an audit of financial statements? Take this quiz to test what you know.
The CPA Outlook Index dipped slightly but remained in positive territory.
Temporary pandemic-related procedures are reauthorized through October 2023 for certain paper returns and forms and documents in exams and similar taxpayer interactions.
Some new and complex accounting issues are facing financial statement preparers as 2021 draws to a close.
Debt cancellation is a nonexchange activity that should be reported by federal entities on the statement of changes in net position, according to an interpretation issued by FASAB.
“Spring-loaded” awards are share-based compensation that companies award to executives shortly before announcing market-moving information. The SEC staff says that when measuring compensation, companies must consider the impact that the information will have upon release.
The Black CPA Centennial celebration highlighted the inspiring stories of Black CPAs who broke through barriers and paved a path for others to join the accounting profession. Against the backdrop of the commemoration, work continues to be needed to improve recruiting, retention, and advancement of Black CPAs.
The deputy commissioner of the IRS Large Business and International Division hears AICPA tax committee’s feedback on new requirements.
Proposed regulations would permanently allow an automatic extension for furnishing health care Forms 1095-B and 1095-C and would also specify that Medicaid services to test for and diagnose COVID-19 are not “minimum essential coverage.”
FASB’s accounting guidance for troubled debt restructuring by creditors would be eliminated for organizations that have adopted its credit losses standard, under a proposal the board issued Tuesday.
Machine learning is within reach for many audit firms.
The US SBA provided updated guidance Friday on various COVID-19 Economic Injury Disaster Loan program application deadlines.
In response to feedback, the AICPA and the National Association of State Boards of Accountancy on Friday updated the curriculum resource that was launched in June to help faculty align their programs with the new Core + Disciplines licensure model created by the CPA Evolution initiative.
The Build Back Better Act contains a large number of tax provisions, ranging from an extension of the advance child tax credit, to a wide variety of green energy tax incentives, and a minimum tax on corporations.
The US House of Representatives passed a nearly $2 trillion spending bill Friday that includes a number of provisions of note for CPAs.
The coronavirus pandemic has created special challenges for practitioners to consider related to fraud. In the current environment, smaller instances of fraud, many times immaterial to an audit, are now becoming significant and need additional attention.
SPONSORED REPORT
Get your clients ready for tax seasonUpon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.
100th ANNIVERSARY
Black CPA Centennial, 1921–2021With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.