Finance leaders are increasingly being asked to devise plans that use new technologies to improve the bottom line. Recent survey results highlight the most common approaches leaders are taking.
Advertisement
NEWS
IRS provides Helene relief; AICPA seeks BOI, FBAR filing extensions
The IRS said it was providing disaster relief for individuals and businesses in all or part of seven states. Also, the AICPA sent a letter to FinCEN seeking extensions for BOI and FBAR reports that match the relief that the IRS provides for other filings, both in terms of the extended due dates and geographic scope.
PCAOB inspectors offer advice in areas of risk
Public company audits can benefit from expert input, particularly in the rapidly changing world of cryptoassets. Also, the SEC, FASB, and FASAB issued regulatory updates.
CPA licensure update: Uniform Accountancy Act changes proposed
The AICPA and NASBA seek comments on changes that would allow states to adopt the proposed CPA Competency-Based Experience Pathway.
New AICPA apprenticeship program expands accounting talent opportunities
The Registered Apprenticeship for Accounting and Finance Associate program pairs employers and entry-level employees. It expands the AICPA’s apprenticeship offerings.
ERC supplemental claim process opened for third-party payroll companies
The IRS announced that it will open a supplemental claim process to help third-party payers and their clients resolve incorrect claims for the employee retention credit. The deadline is Nov. 22.
FASB seeks input on hedge accounting ASU
The proposed Accounting Standards Update is intended to clarify guidance on hedge accounting and address incremental hedge accounting issues arising from the global reference rate reform initiative.
Chair outlines Private Company Council’s top 4 priorities
Credit losses, debt modifications, retainage and overbillings presentation, and leases are the main items on the PCC agenda.
CPA Exam update: Core sections to offer more testing windows in 2025
The Core sections of the newly designed CPA Exam were graded quarterly during the testing model’s first year, but 16 grading periods are scheduled for next year.
IRS increases special per diem rate for business travel
The special per diem rates that a taxpayer uses in travel and business expenses will be higher starting Oct. 1, as provided by the IRS.
Using behavioral science in a financial-planning practice
By understanding psychological influences on decision-making, CPA financial planners can work with clients more effectively and improve how they operate their practice.
Clarification proposed for CPAs’ financial statement preparation engagements
An AICPA committee approved a proposed revision to Statement on Standards for Accounting and Review Services (SSARS) No. 21 addressing the applicability of the standard when preparing financial statements as a part of consulting services.
Final regs. issued on consistent-basis and basis-reporting rules
The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and others on basis-reporting requirements.
More organizations are turning to AI in the finance function
Research finds a significant increase in the percentage of companies leaning into finance AI, even as many struggle to develop sufficient talent to oversee execution.
Proposed regs. would exclude tribal general welfare benefits from income
The first proposed regulations under Sec. 139E set out the requirements for excluding Indian tribal general welfare benefits from income.
Corporate AMT proposed regulations issued; some penalties waived
The IRS issued proposed regulations providing guidance on the corporate alternative minimum tax (AMT) and a notice that waives the penalty for failure to pay estimated tax with respect to the corporate AMT for 2024.
AICPA, NASBA propose a new pathway to CPA licensure
The CPA Competency-Based Experience Pathway offers an additional option for CPA candidates. Comments on the proposal are being accepted through Dec. 6.
SEC approves PCAOB system of quality control
QC 1000 establishes a risk-based system that aligns with AICPA quality management standards, both of which take effect in late 2025.
Increasing appetite for M&A, AI driving growth, survey finds
Leaders at private and newly public companies are optimistic about growth opportunities, although many view the pivotal role that artificial intelligence plays to be a double-edged sword.
IRS seeks comments on SECURE 2.0 saver’s match contributions
Treasury and the IRS issued a notice on saver’s match contributions to be paid by Treasury under provisions of SECURE 2.0.
Features
FROM THIS MONTH'S ISSUE
How to set up an effective internship program
Learn how firms can recruit stronger interns and build robust on-ramps for talent by following five recommendations.
From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
