Advertisement

GASB proposes guidance on infrastructure assets

GASB issued guidance Wednesday that seeks to improve the financial reporting requirements for infrastructure assets, enhancing the consistency in their application and better meeting the information needs of financial statement users.

FASAB announces new chair, new board structure

Terry K. Patton, CPA, takes over the leadership position on the Federal Accounting Standards Advisory Board; FASAB appoints two new board members while reducing board membership from nine to seven.

IESBA to assess need for standards on alternative practice structures

The International Ethics Standards Board for Accountants will examine whether new standards are needed to address ethical considerations related to the prevalence of private-equity investment in the accounting profession — a topic already being addressed by the AICPA Professional Ethics Executive Committee.

Audit report card: More internal audit teams suffered cuts in 2025

The percentage of internal audit leaders reporting staff and budget reductions in 2025 rivaled numbers during the global financial crisis nearly two decades ago. Strategic alignment was linked to sufficient funding for the function, an annual report showed.

SPONSORED REPORT

Agentic accounting has arrived: What’s hype and what’s real?

Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.