Tax, accounting, auditing news - Journal of Accountancy

September 1, 2015

Changes proposed for CPA exam would enhance higher-order skills testing

The AICPA has proposed changes to the Uniform CPA Examination that are designed to enhance testing of higher-order skills.

August 31, 2015

A principal? Or an agent? FASB proposal aims to clarify

FASB proposed changes to the new revenue recognition standard that are meant to clarify how to determine whether an entity is a principal or an agent in a contract.

August 27, 2015

Use a layered cybersecurity approach to protect crown jewels

Layers of defense should exist in an organization’s systems, with the most sensitive information protected by the most layers.

August 27, 2015

GASB publishes authoritative implementation guidance

GASB published a volume of authoritative implementation guidance that reflects changes resulting from a yearlong feedback process.

August 26, 2015

How internal audit can help manage 10 top technology risks

Internal auditors can play a pivotal role in managing technology risks ranging from cybersecurity to social media. The risks are ranked in a new report that shows how internal audit can help manage them.

August 26, 2015

AICPA releases Q&A on required supplementary information

The AICPA has released new nonauthoritative guidance for auditors regarding their independence responsibilities with respect to required supplementary information in a specific situation.

August 21, 2015

IRS announces delayed due date for new estate basis reporting rules

The IRS issued guidance delaying the due date for compliance with the recently enacted rules that require consistent basis reporting between an estate and anyone acquiring property from the estate.

August 21, 2015

Tips for a successful not-for-profit strategic plan

Bob Mims, CPA, CGMA, Ducks Unlimited’s controller and director of investments, discusses how a not-for-profit can create a successful strategic plan.

August 18, 2015

PCAOB urges broker-dealer auditors to reexamine approaches

The PCAOB issued a report urging auditors of broker-dealers to reexamine their audit processes in light of board inspection findings.

August 18, 2015

PCC gets new chair, three new members

Candace Wright, who serves as a director with Louisiana CPA firm Postlethwaite & Netterville, was appointed as chair of the Private Company Council (PCC).

August 18, 2015

How internal audit can make better use of technology

Here are six things internal auditors can consider to give themselves a chance to maximize technological tools.

August 17, 2015

Get Transcript data breach more than three times as big, IRS announces

The IRS alerted the public that an additional 220,000 taxpayers had their tax return information compromised in the Get Transcript database breach it announced in May.

August 14, 2015

New law imposes immediate estate basis and reporting requirements

The highway funding bill made changes to the Internal Revenue Code that affect estates and beneficiaries, including new reporting rules.

August 14, 2015

GASB issues standard requiring disclosure of government tax incentives

Tax incentives provided to businesses and individuals will be disclosed in more detail in state and local government financial statements as a result of new GASB rules.

August 14, 2015

ASB proposal would amend auditor’s report auditing standard

The Auditing Standards Board has proposed amendments that would provide requirements and guidance for reporting on an audit conducted in accordance with both generally accepted auditing standards and the standards of the Public Company Accounting Oversight Board.

August 13, 2015

FROM THIS MONTH'S ISSUE

Want to thrive in an AI world? Power up your people skills

Learn how CPAs can strengthen their human relationships by developing their communication, curiosity, and self-awareness. Artificial intelligence can’t replicate these people skills.