A “three lines of defense” model can help organizations establish responsibility for duties under the COSO framework.
Advertisement
NEWS
10 imperatives for internal audit
Internal auditors are facing many new challenges in a world where technology and globalization are leading to rapid changes.
Wanted: A flexible approach to internal audit planning
Internal auditors may need to change their approach to audit planning to keep up with unexpected and fast-paced changes in risks, a new global survey shows.
New mission, principles articulated for internal audit
An update to professional guidance is designed to help internal auditors assist their organizations in navigating risks.
SEC considers updating audit committee disclosure requirements
The SEC is evaluating whether audit committee disclosure requirements provide investors with the information they are seeking.
SEC proposal would require payback of incentive compensation awarded erroneously
New rules proposed by the SEC would require executives to repay incentive-based compensation that a subsequent accounting restatement shows was not earned.
PCAOB seeks feedback on new idea for identifying engagement partner
The PCAOB voted to seek public comment regarding a proposal for naming the engagement partner in public company audits, in addition to identifying other firms that contribute to the audit.
GASB addresses investment pools and component units
GASB issued two proposals that are designed to prevent confusion about external investment pool accounting and clarify requirements for presentation of certain component units.
GASB establishes new GAAP hierarchy for governmental accounting
The Governmental Accounting Standards Board issued new guidance that cuts in half the number of categories of authoritative GAAP for state and local government financial reporting.
Notice clarifies provider list rules for charitable hospital financial assistance policies
The IRS issued a notice that clarifies how a charitable hospital organization may comply with the requirement to include a provider list in its financial assistance policy.
PCAOB schedules open meeting on naming audit engagement partners
The PCAOB has scheduled a public meeting to consider seeking public comment on a new proposal for naming audit engagement partners.
Congress makes changes to tax code in trade preferences act
The bill modifies the Sec. 35 health coverage tax credit and the Sec. 24 child tax credit, requires payee statements for the education credits, changes the time for payment of certain corporate estimated taxes, and increases information return and payee statement penalties.
51% of Americans are putting off major life events for financial reasons
More than half of the 1,010 U.S. adults surveyed said they had put off important life goals such as buying a home, retiring, or pursuing higher education.
Supreme Court upholds health insurance subsidies in federal exchanges
In a 6–3 decision, the U.S. Supreme Court held that Sec. 36B premium tax credits are available to taxpayers who purchase health insurance on exchanges run by the federal government under the Patient Protection and Affordable Care Act.
PCAOB has new plan for naming audit engagement partners
The PCAOB plans to propose identifying the engagement partner in a new form that auditors could file with the PCAOB, the board’s chairman, James Doty, said.
Emotional harm of elder financial abuse outweighs its financial damage
More than one-third (37%) of CPA financial planners said that elder financial abuse caused “substantial” emotional harm to clients, according to the new AICPA PFP Trends Survey.
FASB, IASB to propose clarifications to principal vs. agent considerations
FASB and the IASB voted to seek public comment on proposed changes to the converged revenue recognition standard that would give financial statement preparers additional guidance on the principal versus agent analysis.
Q&A: To boost revenue, try offering these pricing options
It sounds too good to be true: A way to increase both client satisfaction and firm profits at the same time. But consultant Ron Baker explains how offering different pricing options can help firms do just that in this Q&A.
Proposed rules for ABLE accounts for the disabled are issued
Proposed regulations under Sec. 529A were issued providing guidance on ABLE accounts, special tax-favored accounts designed to help disabled individuals and their families save for and pay disability related expenses.
Key report shows EU companies, investors support IFRS
IFRS are largely supported by companies and investors in the European, but also have room for improvement, according to a report adopted by the European Commission.
Features
SPONSORED REPORT
How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
April 30, 2026
Current developments in taxation of individuals: Part 2
April 30, 2026
Hedge funds: Tax structuring, planning, and compliance
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
