AICPA Issues Liquidity Restrictions Practice Aid


The AICPA has issued a new nonauthoritative Technical Practice Aid addressing potential accounting and auditing implications of a fund or its trustee imposing restrictions on a nongovernmental entity’s ability to withdraw its balance in a money market fund or other short-term investment vehicle. TPA 1100.15, Liquidity Restrictions, covers balance sheet classification, disclosures, debt covenants, subsequent events and going-concern considerations, among other things. The document is available here.

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2022 Payroll Update

Employees working remotely have created numerous issues for employers. The 2022 Payroll Update report provides insight on remote workforce tax issues, pandemic payroll issues and employer credits, and worker classification issues in the gig economy.