Value-pricing advocate Ron Baker recommends that firms use price-led costing and nominate a value council to set prices.
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Wraparound coverage must meet five requirements to qualify as an excepted benefit
The government issued final rules explaining the requirements that must be met before so-called wraparound health care benefits are permitted under the health care law.
“Pervasive” pressure challenges internal audit’s objectivity
Fifty-five percent of North American chief audit executives have been asked at least once to omit or modify an important audit finding, according to new research.
Internal audit may need a makeover
As businesses transform in response to market shifts, internal audit functions may need to provide more value-added services and proactive advice to management in the coming years.
Treasury will not have to tell PTIN holders that they are under investigation
The new rules aim to prevent PTIN holders who are under investigation from learning that they have been identified as suspects or are the subject of an investigation.
Accountants get high marks from small business leaders
Small business leaders ranked accountants at the top of the list of the most important professionals who serve their businesses, a new survey shows.
Final regulations amend broker basis reporting requirements
The IRS issued final and temporary regulations that clarify and simplify rules regarding broker basis reporting issued in 2013.
Internal auditors confident in risk assessment but face possible talent shortage
Internal auditors are confident in their ability to identify emerging risks in a timely manner, but they may be facing a talent shortage, according to a new report.
Sec. 529A ABLE accounts may be set up before the IRS issues guidance
The IRS announced that state ABLE programs that are established before the Service issues guidance under Sec. 529A will be deemed to comply with the rules when they are issued.
Long-haul truck driver has no tax home
A long-haul truck driver who spent 358 days on the road during 2009 did not have a tax home that would permit him to deduct his travel expenses as unreimbursed business expenses.
Forging cooperation between internal audit, external audit, audit committee
The varied roles of internal auditors, external auditors, and audit committees often intersect. A new report describes how they can work together for mutual benefit.
GAAP taxonomy adopted by SEC
The 2015 GAAP financial reporting taxonomy has been adopted by the Securities and Exchange Commission and will be supported immediately. The taxonomy is a set of computer-readable tags for data included in financial statements.
FASB to propose new not-for-profit reporting requirements
The Financial Accounting Standards Board voted to propose new requirements designed to make not-for-profit financial statements more useful.
U.S. finance execs remain optimistic, envision growth, according to survey
Overall optimism among U.S. finance executives in business and industry took a slight quarterly dip, but sentiment remains positive compared with previous first quarters in the post-recession era, according to an AICPA survey.
IRS considering free e-filing for employment tax returns
The IRS asked for comments on a proposal to establish a free e-filing program for employment tax returns in an attempt to increase electronic filing of these returns by businesses.
IRS proposes new slot machine tax rules
Under the safe harbor, gamblers complying with the rules would be permitted to net gains and losses from all slot machine play on the same calendar day at one gambling establishment.
Supreme Court holds trade association can challenge Colorado’s Amazon law
The U.S. Supreme Court held that federal law does not prevent a trade association from suing Colorado to prevent enforcement of a law that requires out-of-state retailers to report sales to Colorado purchasers.
Root cause analysis can improve audits, regulators say
Root cause analysis of audit issues has the potential to bring about significant improvements in audit quality, audit regulators said while presenting results of a global survey of audit inspection findings.
GASB tackles fair value in state and local government reporting
New guidance issued by the Governmental Accounting Standards Board defines fair value and how it should be measured in state and local government financial reporting.
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