January 2010

January 5, 2010

IRS Proposes New Requirements for Return Preparers

The IRS on Monday announced plans to require mandatory registration of all paid, signing tax return preparers as well as competency testing and CPE requirements for preparers other than CPAs, attorneys or enrolled agents. The plan also calls for extending Circular 230’s ethics rules to all return preparers. Following a

January 4, 2010

New SSARS to Usher in Big Changes for Compilation and Review Engagements

The AICPA issued SSARS no. 19, Compilation and Review Engagements. Significant improvements brought about by the standard include: The introduction of the term review evidence. This change to the review literature clarifies that a review requires the accumulation of review evidence to provide a reasonable basis for obtaining limited

January 4, 2010

PCAOB, CAQ Offer Academic Research Funds

The PCAOB and the AICPA-affiliated Center for Audit Quality (CAQ) are offering funds to support academic research on auditing and oversight topics. The PCAOB’s Academic Fellowship Program is seeking an experienced accounting researcher and academic, with an active interest in auditing and oversight matters, to serve as an academic fellow at the

January 1, 2010

Get Results: Specific Steps to Process Improvement

Editor’s note: This is a Web-exclusive sidebar for “Get Results: Improve Your Accounting Firm Processes Using Lean Six Sigma,” Jan. 10. Previous attempts by Rea & Associates to develop consistent procedures didn’t always result in the most successful, efficient or effective processes. Instead, 11 offices did things 11 ways

January 1, 2010

Numerous Tax Provisions Expired at End of 2009

The ringing in of the new year at midnight on Dec. 31 also signaled the expiration of several tax provisions. The biggest was the estate and generation-skipping tax regime, which is repealed for 2010. Various bills have been introduced that would revive the estate tax in its 2009 form, but

FROM THIS MONTH'S ISSUE

AI risks CPAs should know

Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.