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CFO optimism is declining as cost concerns rise
US CFOs have grown more pessimistic about the economy — thanks to increasing costs of goods and services, increasing energy costs, and supply chain challenges — according to a quarterly survey by Grant Thornton.
Stretching retirement dollars by living abroad
Practical tips could help retirees make the most of their money in a place with a substantially lower cost of living.
CPA email closings: Go pro or add a personal touch?
Accounting professionals discuss the importance of email as a communication tool and the need to think about how their emails — including the closings — reflect on their and their firms’ professionalism. They say the messages should also consider the nature of the relationship they have with the other person.
FASAB seeks comments on proposal related to reimbursable work agreements
The FASAB released an exposure draft technical bulletin, Intragovernmental Leasehold Reimbursable Work Agreements, which is intended to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54, Leases, and other relevant statements.
AICPA seeks feedback on accounting and valuation guide
The AICPA’s Financial Reporting Executive Committee issued a working draft of the AICPA Accounting and Valuation Guide, Business Combinations, which would provide guidance and illustrations regarding the accounting and valuation considerations for business combination transactions.
Financial planning impacts of the Inflation Reduction Act
The recently passed legislation ultimately will help with one of the biggest wild cards of retirement — health care planning — but immediate updates to financial plans are likely not needed.
SEC proposes new regulations for US Treasury market clearinghouses
SEC Chair Gary Gensler says that proposed changes to the Exchange Act Rule of 1975 would “reduce risk across a vital part of our capital markets.”
CAQ increases diversity efforts with new initiative
The CAQ announced a strategic education initiative intended to expose students to careers in accounting, attract greater diversity and representation within the profession, and address barriers to entry from underrepresented and underserved groups.
Significant risk revised: Concept changes under SAS No. 145
SAS No. 145 revises the definition of significant risk. The revisions alter how you conduct elements of your risk assessments. Get the updated information you need and be ready for your 2023 audits.
AICPA asks IRS to expand penalty relief
The AICPA, in a letter to the IRS, urged the Service to expand the relief under Notice 2022-36 to include several other Code sections and forms and to extend the deadline for requesting relief to Dec. 31, 2022.
SEC chair seeks increased regulation of cryptoassets
SEC Chair Gary Gensler calls for cryptoasset entities to register under current securities laws and suggests that more legislation to support regulation could be on the way.
Student loan forgiveness: Advice from a CPA financial planner
Brianne C. Smith, a member of the AICPA Personal Finance Planning Executive Committee, discusses how she’s going beyond the headlines to help her clients maximize their savings.
SEC to auditors: Use care with Chinese engagements
Public audit firms must make sure issuers in China and Hong Kong will grant new lead auditors appropriate access to previous engagements, an SEC official warns.
FASAB issues updates to technical releases
Implementation guidance for leases is among the topics included in the Federal Accounting Standards Advisory Board’s updated technical releases.
4 ways to ‘break the bias’ and support women in your organization
Asking questions is a first step towards addressing the problem of gender inequity, says Tracey Walker of RSM US, who will share her experiences at this year’s AICPA & CIMA Women’s Global Leadership Summit.
Economic pessimism leads to drop in revenue and profit projections
Finance executives in business and industry are more pessimistic about their own businesses and the domestic and global economy, according to a quarterly US survey.
PCAOB releases review of 2021 inspections, looks forward to 2022 review
The board’s target team provides insights in four areas of focus to provide guidance for public company auditors and shape the PCAOB’s approach to future inspections.
Advice from an expert on cyber insurance coverage
Cybersecurity specialist Mike Foster shares common questions that insurance companies might ask when your company is applying for cyber insurance coverage and advice on how to address them.
AICPA recommends changing cryptoasset question
In a comment letter to the IRS, the AICPA recommended changes and clarifications regarding the tax treatment of cryptoassets or “virtual currency.”
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