September 2010

September 7, 2010

PCAOB to Host Round-Table Meeting, Extend Comment Period on Communications with Audit Committees

The PCAOB announced Tuesday that it will hold a public round-table meeting regarding its proposed standard on auditors’ communications with audit committees, and that it is reopening the comment period on the proposal until Oct. 21, 2010. “The Sarbanes-Oxley Act strengthens the audit committee’s oversight of the audit process, and

September 7, 2010

AICPA Issues Technical Practice Aid on Subsequent Events

The AICPA’s Audit and Attest Standards staff has issued Technical Practice Aid 8700.03, “Auditor’s Responsibilities for Subsequent Events Relative to a Conduit Debt Obligor.” The TPA provides guidance on the effect of FASB Accounting Standards Update no. 2010-09 on ASC Topic 855, Subsequent Events, regarding the auditor’s responsibilities for subsequent

September 7, 2010

Draft Form for Small Business Health Insurance Credit Released

The IRS on Tuesday issued a draft form for businesses to use in figuring and claiming the new small business health insurance credit, starting this year. Draft Form 8941, Credit for Small Employer Health Insurance Premiums, leads taxpayers through the steps of determining the number of full-time equivalent employees, average

September 2, 2010

Treasury Announces Low-Cost Financial Account Program for Taxpayers

In a move that may cut down on the use of refund anticipation loans (RALs), the Treasury Department announced on Thursday the launch of a pilot program to provide taxpayers with access to low-cost financial accounts. This is the second action in the past month the Treasury Department has taken

September 1, 2010

Featured Online Content for September 2010

FEATURED VIDEO Tax Software Survey Analysis In this video, JofA Senior Editor Alexandra DeFelice discusses what more than 12,000 CPAs had to say about their tax preparation software and provides analysis of some tax software trends to watch. Also on journalofaccountancy.com, find more information about each tax preparation software vendor,

September 1, 2010

FASB Proposes Expanded Disclosures on Multiemployer Pensions

FASB issued an exposure draft that sets forth proposed disclosures that the board believes would help users of financial statements better assess the potential risks faced by employers participating in multiemployer plans. FASB said the Proposed Accounting Standards Update (ASU), Proposed Improvements to Disclosures about an Employer’s Participation in a

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.