Tax, accounting, auditing news - Journal of Accountancy

January 15, 2019

Half of IRS employees to be recalled during tax season

The IRS issued an updated contingency plan outlining how it will function during tax season.

January 14, 2019

North American CFOs’ optimism falls sharply

Deloitte survey indicates the euphoria of the first quarter of 2018 has diminished, mainly because of concern about a lack of trade clarity.

January 11, 2019

IRS announces Free File launch

The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan. 11 and will operate through Oct. 15.

January 8, 2019

A new framework for audit quality disclosures

A new framework designed by the Center for Audit Quality can help firms develop their audit quality disclosures and provide transparency to the public.

January 7, 2019

IRS sets start date for tax season, will issue refunds during government shutdown

The IRS announced Monday evening that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

January 7, 2019

AICPA publishes broker-dealer working draft

The AICPA Financial Reporting Executive Committee has published a working draft of an illustrative note to financial statements of SEC-registered broker-dealers.

January 4, 2019

Changes related to peer review proposed for UAA

The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs.

January 3, 2019

GASB proposes implementation guide for fiduciary activities standard

GASB published a proposed implementation guide that provides questions and answers about the board’s new standards for state and local government accounting and financial reporting for fiduciary activities.

January 3, 2019

ASB changes align GAAS with PCAOB standards

The AICPA Auditing Standards Board voted to issue a new standard that will more closely align generally accepted auditing standards and the Public Company Accounting Oversight Board’s standards.

December 21, 2018

6 tips for developing critical audit matter disclosures

New PCAOB rules require disclosure of critical audit matters encountered by auditors during the engagement. Here are some suggestions firms can use to identify critical audit matters.

December 20, 2018

PCAOB strengthens rules for auditing estimates, supervising specialists

The PCAOB voted to approve a new standard and amendments for auditing accounting estimates, including fair value measurements, and using the work of specialists.

December 20, 2018

How audit committees can oversee FASB standard adoption

Audit committees have a lot to consider as 2018 concludes with adoption of game-changing accounting standards in full swing at many companies.

December 20, 2018

FASB proposes extending 2 GAAP alternatives to not-for-profits

Under a proposal issued by FASB, not-for-profits would be able to take advantage of the private company GAAP alternatives for accounting for goodwill and accounting for intangible assets in a business combination.

December 20, 2018

Test your knowledge of 2018 accounting news

Did you pay attention to the most important developments in the accounting profession in 2018? Take this quiz and find out.

December 19, 2018

FASB proposal would address lessor implementation challenges

FASB proposed an accounting standard that would clarify how lessors should handle certain scenarios under the board’s new lease accounting standard.

December 19, 2018

Government shutdown would halt many IRS operations

A partial government shutdown at midnight on Friday would affect the IRS, which has not been fully funded for fiscal year 2019.

December 19, 2018

CPA firms share their holiday traditions

From Christmas to Mardi Gras to Pi Day, CPA firms celebrate the holidays. See how your fellow CPAs have fun, eat well, and give back all year long.

December 18, 2018

GAAP, SEC taxonomies for 2019 are available

The taxonomies contain updates necessary for meeting GAAP and SEC requirements in financial reporting.

December 17, 2018

2 valuation guide working drafts issued

The AICPA issued working drafts of two new case studies that will be added to its new accounting and valuation guide, Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies.

December 14, 2018

2019 standard mileage rates announced

The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019.

FROM THIS MONTH'S ISSUE

Making the right choice when no one is watching

The true test of one’s character is the decision made when no one is looking over your shoulder. Learn how CPAs can uphold ethical standards and take actions that help limit liability risk.