An ASB proposal would change standards for auditors reporting on financial statements of ERISA employee benefit plans.
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4 in 10 Americans say technology leads them to pay more for convenience
In a recent AICPA survey, 41% of Americans said that their use of personal technology makes them more likely to pay extra for convenience.
The 5 habits of top risk managers
Top-performing companies in risk management are more likely to project revenue and profit growth, according to a PwC report that offers steps for organizations to better embed strategy into risk management practices.
News quiz: IRS enforcement, a hot job, and audit value
See how much you know about recent news with this short quiz.
Expectations and paths don’t always align for controllers
Most controllers expect and are expected to shape and execute strategic priorities. Yet, few companies clearly define a path for controllers to take on greater responsibility, a Deloitte report shows.
Nearly half of Americans fear not being able to afford retirement
Respondents to a new AICPA survey most often cited health care costs as a cause of anxiety about their finances in retirement.
GAO proposes revisions to government auditing standards
Requirements for auditors related to competence, continuing professional education, auditor independence, and other topics would change under revisions to Government Auditing Standards proposed by the U.S. GAO.
New audit data standard addresses inventory subledger
Basic analysis of the inventory process can become easier through use of a new audit data standard issued by the AICPA Assurance Services Executive Committee.
Revenue recognition working drafts issued for 4 industries
Working drafts for the airlines, gaming, hospitality and time-share industries were included in the latest group of issues exposed for the AICPA’s guide to implementing FASB’s revenue recognition standard.
IRS enforcement activities dropped in 2016
The IRS reported several large drops in its enforcement activities in fiscal year 2016, including a 16% drop in audits, a 40% drop in levies, and a 9% drop in liens compared to the prior year.
Hot jobs: Tax managers in high demand
“Tax manager” is one of the top high-demand positions on a “hot jobs” list distributed by global outplacement and executive coaching firm Challenger, Gray & Christmas.
Use of driver’s license numbers raises security concerns
The decision of the IRS and some states to recommend—or, in a few cases, require—the use of driver’s license numbers as form of authentication on electronically filed personal tax returns has made them a higher-value target for hackers and other criminals.
New rules for accounting for amortization of premiums for purchased callable debt securities
FASB issued a new standard that makes targeted changes designed to prevent the recognition of too much interest income before a borrower calls the debt security, and prevent the recognition of a loss on the call date.
CFOs try to focus on strategy, but IT systems get in the way
Strategic planning is among the top priorities for CFOs in a new survey, but some finance chiefs feel hampered by legacy IT systems.
How financial statement audits deliver key business insights
Financial statement audits are not just a compliance exercise, but also an opportunity to gain knowledge that can generate positive business results.
Rules proposed for accounting method changes to reflect FASB revenue recognition standards
The IRS is asking for comments on proposed procedures for requesting consent to make accounting method changes to reflect FASB’s new revenue recognition standards.
IRS issues 2017 car and truck depreciation limits
The IRS released the inflation adjustments to the depreciation limits for cars and trucks used for business purposes in 2017.
What role should your house have in retirement planning?
A home should be an important factor in helping clients determine retirement readiness as well as a place to put down roots.
Amazon wins multimillion dollar transfer-pricing dispute with IRS
The Tax Court held that Amazon.com had properly valued transfers of intangibles under a cost-sharing arrangement with its Luxembourg subsidiary.
Disbarred tax preparer not subject to IRS jurisdiction
The IRS Office of Professional Responsibility has no authority or jurisdiction over a disbarred attorney/tax preparer or his tax preparation practice and cannot regulate his provision of tax advice a federal district court in Nevada has held.
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