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More audit committees are voluntarily disclosing information in proxy statements about their oversight of external auditors, including auditor appointment and audit partner rotation, according to a new analysis.
Under the proposal, FASB would clarify the minimum requirements for the reconciliation that a not-for-profit entity is required to disclose if it has endowment funds.
While many limits remained the same as 2016, some were raised to reflect cost-of-living increases.
According to the AICPA’s proprietary Personal Financial Satisfaction Index (PFSi), this quarter the financial standing of the average American reached its highest level since the recession.
FASB issued a financial reporting standard that changes financial reporting rules for consolidating variable-interest entities.
The IRS issued its annual revenue procedure containing inflation-adjusted amounts for the 2017 tax year, affecting over 50 Code provisions, as well as the new tax rate tables for individuals and estates and trusts.
SSARS No. 23 results in the SSARSs being applicable to engagements performed on certain subject matter other than financial statements.
Former US diplomat Nicholas Burns, in a speech to the AICPA’s governing Council, highlighted some of the complexities that the winner of the presidential election will face abroad.
The standard is designed to simplify the financial reporting for the income tax consequences of intra-entity transfers other than inventory.
Accounting firms of all sizes posted year-over-year revenue gains during their most recent fiscal year, with the rate of growth increasing for most practices.
Eight technical questions and answers for investment company accounting have been issued by the AICPA Investment Companies Expert Panel and are available in TIS Section 6910, Investment Companies.
Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk.
The SSA announced that the maximum amount of earnings subject to the Social Security tax will increase by more than 7% in 2017, after remaining flat in 2016.
GASB would provide answers to more than 150 questions about other post-employment benefit (OPEB) plan accounting in a newly proposed implementation guide.
The new rules are part of the Treasury Department’s larger effort to curb corporate inversions.
A class action lawsuit currently pending in a federal district court includes in its class of plaintiffs all tax return preparers who obtained or renewed a PTIN after Sept. 30, 2010.
Legislation excluding prize money earned by Olympians and Paralympians from gross income was signed into law.
Tax practitioners could find news of particular relevance in reports about private collection of overdue taxes, updated per-diem rates for travel, and a new process for authenticating the identity of IRS e-services users.
CPA financial planners report that their clients’ greatest fear about retirement is running out of money, an AICPA survey finds.
Areas of high attention for auditors during the 2016 audit cycle will include a new standard on naming the engagement partner as well as internal control over financial reporting.
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