2018 - Page 11 of 14 - Journal of Accountancy

April 12, 2018

Treasury regulations to be subject to OMB review

The Treasury Department and the White House’s Office of Management and Budget have agreed to change the procedures under which Treasury regulations are reviewed.

April 12, 2018

How board members can perform oversight of cybersecurity risks

A new tool can help board members understand what questions to ask in their oversight of cybersecurity risk management.

April 11, 2018

Save money by having your sustainability report assured

Sustainability reporting has become a common business practice in the United States, and now research shows that sustainability assurance efforts more than pay for themselves in a majority of companies.

April 11, 2018

How to mix innovation and risk management

Companies that integrate innovation and risk are more advanced in disruptive technologies and more confident in revenue projections, a survey says.

April 10, 2018

New international code clarifies ethics issues

The International Ethics Standards Board for Accountants released a new Code of Ethics that is designed to provide clear guidance about how accountants should deal with ethics and independence issues.

April 4, 2018

How audit committees can evaluate lease accounting implementation

A new Center for Audit Quality tool is designed to help audit committees with oversight of this difficult adoption process.

April 3, 2018

IRS guidance addresses limitations on business interest expense

The IRS has issued initial guidance on the new rules governing the deductibility of business interest in Sec. 163(j), as amended by the Tax Cuts and Jobs Act of 2017.

April 3, 2018

How consumers are changing their behavior to combat ID theft

Four of out five respondents say they’ve changed their behavior in response to the threat of cyberbreaches affecting credit card and debit card processing systems.

April 2, 2018

New GASB standard addresses debt disclosures

The new standard also requires the disclosure of additional essential debt-related information for all types of debt, including amounts of unused lines of credit and assets pledged as collateral for debt.

March 29, 2018

New IFRS conceptual framework revises foundational reporting concepts

A new conceptual framework for IFRS includes revisions to concepts for reporting assets, liabilities, income, and expenses.

March 23, 2018

Federal spending bill includes tax provisions

The $1.3 trillion spending bill passed by Congress includes IRS funding and tax-related technical corrections, including changes to the centralized partnership audit regime.

March 22, 2018

AICPA issues nonauthoritative guidance for payroll audits

New Technical Questions and Answers issued Tuesday by the AICPA provide nonauthoritative guidance for multiemployer plan payroll compliance services when engaged to perform payroll compliance procedures as an agreed-upon procedures engagement in accordance with AT-C Section 215.

March 22, 2018

Guidance addresses partnership accounting when IRS collects underpayments

A new technical question and answer from the AICPA provides nonauthoritative guidance to help financial statement preparers account for the amount a partnership pays the IRS under these circumstances.

March 21, 2018

Supreme Court: Obstruction requires knowledge of investigation

The U.S. Supreme Court held that to obtain a conviction for obstructing or impeding the administration of the Internal Revenue Code, the government was required to prove that the defendant knew of a pending tax-related proceeding or could reasonably foresee the commencement of such a proceeding.

March 21, 2018