New guidance promotes resilience amid ESG risks
The guidance aims to help organizations strengthen their resilience as they are faced with frequent and severe ESG-related risks ranging from extreme weather to product safety recalls.
NEWS
Association addresses digital economy tax issues
The Association of International Certified Professional Accountants released a policy paper urging global solutions to the tax treatment of transactions in the digital economy, emphasizing its own Guiding Principles of Good Tax Policy.
4 keys to focusing on customers in a complex world
Developing and delivering on a customer promise can help organizations find a simple road to success in a complex, fast-paced business environment.
AICPA Council votes to move forward with expanded eligibility for valuation credential
Members of AICPA’s governing Council voted down a motion on Sunday that would have suspended and opened additional study of expanded eligibility for the Accredited in Business Valuation (ABV) credential.
How the suspension of personal exemptions affects health-care-related provisions
IRS guidance clarifies what it means to claim a personal exemption deduction.
After investigation, SEC issues cyberfraud alert
The Securities and Exchange Commission cautioned public companies to be on the lookout for a class of cyber-related fraud called “business email compromise.”
FASAB proposal seeks clearer materiality guidance
The Federal Accounting Standards Advisory Board (FASAB) is asking for public comment on a proposal to clarify the implementation of materiality concepts in the issuance of federal financial statements.
Getting it right: Crafting the CPA Exam
CPA Exam questions must adhere to Blueprint topics and skill levels while avoiding words and ideas that could distract or confuse the reader.
Proposed regs. reflect amendments to all-events test and advance payments
The IRS is proposing to remove regulations on advance payments and long-term contracts to reflect amendments to Sec. 451 included in the law known as the Tax Cuts and Jobs Act.
International audit standard addresses estimates
A newly released international auditing standard for auditing accounting estimates and related disclosures is designed to help auditors keep pace with changes in accounting standards for loan provisions and insurance contracts.
Meals continue to be deductible under new IRS guidance
The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
GASB proposes targeted improvements, new concepts
GASB issued separate proposals that are designed to deliver targeted improvements to the financial reporting model and advance new concepts to guide the board in developing standards on recognition in state and local government financial statements.
IRS issues 2018–2019 per-diem rates
The IRS issued its annual update of the special per-diem rates for business travel away from home from Oct. 1, 2018, through Sept. 30, 2019.
Rules issued on paid family and medical leave credit
The IRS released guidance on the new Sec. 45S tax credit for employers that provide paid medical and family leave.
3 factors driving finance transformation
North American CFOs are dealing with rapid technology changes and the need to retrain workers in the quest to continue finance transformation.
SEC proposes clarifying broker-dealer exemption
The Securities and Exchange Commission proposed an amendment that would correct an error published in 2013 in the exemption provisions in the broker-dealer annual reporting rule.
News quiz: What’s the latest on accountants’ pay?
See how much you know about the news (or catch up on recent reports) with the quiz.
Investors trust auditors, but confidence in U.S. markets drops
Investors continue to show a high degree of confidence that public company auditors are looking out for them, according to a new survey.
IRS extends deadlines in N.C. counties affected by Hurricane Florence
The IRS announced that it is extending tax deadlines starting Sept. 7, 2018, until Jan. 31, 2019, for eight counties in North Carolina.
How cybercriminals prey on victims of natural disasters
Natural disasters such as Hurricane Florence provide cybercriminals with an opportunity to cause further misery for victims and businesses that already are under siege.
