Diversity and inclusion is rising in CPA firm partner ranks and new accounting graduate hires, according to AICPA research.
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NEWS
A needed push into remote auditing
The pandemic brought about a surge in remote auditing, a practice which has both pros and cons. CPAs at small firms discuss their experiences with remote audits and what they plan to do in the future, and share tips for making remote audits run more smoothly.
Senators urge 2-D barcoding of paper-filed tax returns in 2023
Fourteen GOP members of the Senate Finance Committee added their voices to National Taxpayer Advocate Erin Collins’s recent directive to the Internal Revenue Service relating to processing of paper-filed returns.
SEC proposes enhanced disclosures related to ESG
The SEC proposed amendments to rules and reporting forms to promote consistent, comparable and reliable information for investors concerning funds’ and advisers’ incorporation of environmental, social and governance factors.
IRS mostly correct on recovery rebate credits, TIGTA says
The IRS administered the recovery rebate credit correctly for all but 0.7% of returns in the 2021 filing season, the Treasury Inspector General for Tax Administration found.
CPA Exam’s top scorers earn Elijah Watt Sells Award
The award, established in 1923, recognizes outstanding performance across all four sections of the Uniform CPA Examination.
Ukraine aid eligible for leave-based donations programs
Employees may exclude from gross income the value of leave donated to their employers funding payments to relieve victims of the Russian invasion of Ukraine.
Tax equity research lacks demographic data, GAO reports
The US Government Accountability Office found disparities in the distribution of some tax items, but notes impediments to knowing taxpayers’ race, ethnicity, and sex.
Resources to get you ready for your next conference
Simple tasks like downloading the conference app, choosing the sessions you want to attend, reviewing the attendee list to locate colleagues, and becoming familiar with vendors in the expo hall will help you get the most out of the event.
House subcommittee queries audit rates, IRS resources
Officials from the IRS and the US Government Accountability Office address legislators’ questions on taxpayer service and enforcement across income levels.
IRS audit rates decreased most for wealthy, GAO finds
In a study, the US Government Accountability Office finds that the IRS’s individual tax audit rates decreased by 72% during 2010–2019, and by a greater percentage for higher-income taxpayers than for lower-income ones.
IRS blames old tech in destruction of information returns
The IRS responds to a report by the Treasury Inspector General for Tax Administration that pointed to the March 2021 incident as one example demonstrating a need for the Service to increase e-filing options.
5 steps to managing client expectations
Great relationships with clients can be achieved and maintained by proactive communication practices.
New quality management standards approved by AICPA Auditing Standards Board
The new standards represent a significant change in how CPA firms will approach audit and assurance quality in the future.
What every CPA should know about disrupted supply chains
Build your supply chain knowledge by networking and tracking the news.
Building a tax-efficient retirement income plan for clients
For retirees, effective tax planning requires taking a long view and spending down assets from a variety of sources each year.
FASAB seeks input on proposed amendments related to leases
The FASAB proposed changes intended to clarify the application of lessee and lessor discounting requirements.
GASB addresses range of practice issues in statement
In an omnibus statement, the GASB issued guidance and clarifications on numerous accounting and financial reporting issues.
How to be a trailblazer for women in the profession
Anna Mok, CPA, shares advice for women in accounting, in preparation for the panel session “AmplifiHER: Inspirational Women Breaking Ceilings and Stereotypes in the Profession” at the upcoming AICPA & CIMA ENGAGE conference.
TQAs provide guidance on auditor reporting of other information included in annual reports
The Technical Questions and Answers address auditor reporting when the entity issues its annual report subsequent to its financial statements.
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