COVID-19 news and information for CPAs

TOPICS

June 29, 2020

How COVID-19 taught new ways to work

Changes once considered radical have become the norm in the accounting profession. Firm leaders share their lessons learned.

June 29, 2020

Working from home: What does the future hold?

Tom Hood, CPA/CITP, CGMA, shares what the pandemic-fueled acceleration of work-from-home practices means for business in the future.

June 27, 2020

New PPP guidance addresses maturity dates, loan amounts

Updated guidance issued by the Treasury Department and the U.S. SBA addresses PPP loan maturity dates for all borrowers as well as maximum loan amounts for certain self-employed individuals.

June 26, 2020

How to handle the 2020 PTO backlog

With few employees taking extended time off this summer due to the coronavirus pandemic, firms will inevitably face scheduling challenges as the year ends.

June 26, 2020

Handling nondisclosure compilations amid the pandemic

Compilations of financial statements that omit substantially all disclosures can provide challenges for CPAs as the pandemic hurts clients’ businesses. Here’s how CPAs can handle the challenging judgments in these engagements.

June 24, 2020

Strategies for addressing pandemic-related audit risks

Audit risk assessments and sampling procedures may need to change as a result of the coronavirus pandemic, according to Lynford Graham, CPA, Ph.D.

June 24, 2020

PPP provides a lifeline, but more may be needed

With new guidance and extensions on use of funds, US businesses seek and find financial boosts in overall uncertain times.

June 24, 2020

Medicare changes in response to COVID-19

Recent changes to Medicare due to the pandemic include COVID-19 testing coverage, telemedicine coverage and a requirement that Part D plans provide a 90-day supply of covered drugs upon request. Medicare will also cover a vaccine if one is developed.

June 24, 2020

Amid uncertainty, financial planning clients stick with long-term plans

On average, only 30% of CPA financial planners’ clients have made changes to their financial plans due to the pandemic, according to the latest AICPA Personal Financial Planning Trends survey.

June 23, 2020

SEC staff guidance addresses pandemic-related disclosures

Public companies need to carefully consider their obligations in disclosing the coronavirus pandemic’s effect on their operations, liquidity, and capital resources, according to staff guidance issued by the SEC Division of Corporation Finance.