Tax, accounting, auditing news - Journal of Accountancy

June 3, 2024

Blind adventurer challenges ENGAGE attendees to reach new heights

The first blind person to reach the summit of Mount Everest welcomes thousands to AICPA & CIMA ENGAGE 2024 with an inspiring story.

May 31, 2024

Bias possible in IRS program for auditing refundable credit returns

The IRS said it agrees with the six recommendations from the Government Accountability Office to eliminate the bias.

May 30, 2024

IRS free filing program to become permanent with expanded scope

Commissioner Danny Werfel said the successful pilot program of Direct File encouraged the IRS to make the program available in all states and the District of Columbia.

May 29, 2024

GASB updates its financial reporting blueprint

New guidance features targeted improvements to the financial reporting model established for state and local governments 25 years ago.

May 28, 2024

Flexible work rankings: How does your region stack up?

A pair of reports break down the states where employees enjoy the most freedom when it comes to where they work and the areas where the flexible work model isn’t as common.

May 28, 2024

Key planning considerations for childfree clients

Helping the growing demographic of childfree individuals and couples plan their financial futures requires a shift in perspective.

May 24, 2024

AICPA makes recommendations to IRS on next Priority Guidance Plan

In addition to the guidance on the plan, the letter recommends that Treasury and the IRS continue pursuing tax simplification.

May 23, 2024

Report: Businesses off target on FP&A processes

Businesses are automating the wrong financial planning and analysis processes, leading to FP&A staff being overextended and burned out, according to a recent report from Gartner.

May 22, 2024

AICPA gives Gold Medal Award of Distinction to Kueppers

The AICPA presented Bob Kueppers, CPA, with the 2024 AICPA Gold Medal Award of Distinction, the organization’s highest honor.

May 22, 2024

CEO Melancon, ‘passionate advocate’ for the profession, to retire

AICPA & CIMA leader’s tenure includes the creation of the CGMA designation and creation of the Association of International Certified Professional Accountants.

May 17, 2024

IRS warns about more tax scams

The IRS said scams involving the fuel tax credit, the sick and family leave credit, and household employment taxes led thousands of taxpayers to file inflated refund claims.

May 16, 2024

SEC strengthens requirements for response to data breaches

Changes to Regulation S-P call for covered institutions to develop an incident-response plan beginning in 2026.

May 15, 2024

New SSAE caps standards related to quality management

The statement offers new definitions of “other practitioner” and completes the suite of standards that firms performing A&A services are required to use to design and implement a QM system by Dec. 15, 2025, and to perform A&A services in accordance with for engagements beginning on or after that date.

May 14, 2024

Regulations finalize PTIN fees for tax return preparers

The IRS was required to reduce the charge for preparer tax identification numbers after a federal court found the previous amount excessive. The final regulations adopt the text of interim final and proposed regulations issued in 2023 without change.

May 14, 2024

PCAOB updates general auditor responsibilities, quality control rules

PCAOB updates general auditor responsibilities, quality control rules
AS 1000, General Responsibilities of the Auditor in Conducting an Audit, replaces AICPA-provided standards, and QC 1000, A Firm’s System of Quality Control, considers the AICPA’s new quality management standards.

May 14, 2024