Investor groups representing $13 trillion in assets last week called on the U.S. and other governments to adopt strong national climate policies to help spark the necessary flows of private capital for achieving a low-carbon and sustainable global economy. Meeting at the Investor Summit on Climate Risk held Jan.
Advertisement
TOPICS
Management accounting
GASB Standards Address OPEB Obligations, Bankruptcies
GASB issued two statements intended to improve consistency in the measurement and financial reporting of other post-employment benefits (OPEB) such as retiree health insurance, and the effects of municipal bankruptcy. Statement no. 57, OPEB Measurements by Agent Employers and Agent Multiple-Employer Plans, addresses issues related to measurement of OPEB obligations
American Idle
Optimism among CPA financial executives about the U.S. economy flattened in the fourth quarter of 2009 after two quarters of improvement as managers paid more attention to potential challenges and concerns associated with the federal budget deficit, tax reform and regulatory requirements. The proportion of executives who don’t see a
Enterprise Risk Management
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released a thought paper, Strengthening Enterprise Risk Management for Strategic Advantage, that highlights specific areas where senior management can work with directors to enhance the board’s risk oversight capabilities and the organization’s strategic value. This document builds on four specific
Modified Loans Quick to Re-Default, Overall Mortgage Performance Declines
As efforts to keep borrowers in their homes continued to escalate, a report from major bank regulators said more than half of all mortgages modified in the first quarter of 2009 were in re-default in the third quarter—56.2% were 30 or more days delinquent and 42.7% were 60 or more
CPAs Can Help Builders Increase Profits, Cash Flow
At a time when the construction industry is faced with unprecedented economic conditions, companies must do everything possible to remain profitable and maintain positive cash flows. Consider the following tips to help your clients in this industry: —By Michael J. Otis, CPA, president of Construction Accounting & Development Financing Inc.
Scott Named Vice President–Business, Industry and Government
Carol S. Scott was named vice president–Business, Industry & Government for the AICPA. Scott is responsible for setting strategic direction and developing and executing programs on behalf of CEOs, CFOs and other CPAs working in business, industry and government, a group that comprises 45% of the Institute’s membership. She reports
More to Risk Management Than COSO ERM
The authors of “ERM: Opportunities for Improvement” (Sept. 09, page 28) only discuss/reference the COSO ERM Framework. The body of risk management knowledge includes many other sources, including lectures and books from recognized thought leaders, such as Robert Shiller, Nassim Taleb and others; at least 15 professional risk-related organizations such
Risk-Based Audit Best Practices
The aim of the risk assessment auditing standards was to improve the quality and effectiveness of audits by substantially changing audit practice. Statements on Auditing Standards nos. 104–111 provide increased rigor to the audit process in a number of key areas including the assessments of inherent and control risks and
Economic Optimism Levels Off, Execs Concerned About Government Policies
Optimism among CPA financial executives about the U.S. economy flattened after two quarters of improvement as managers paid more attention to potential challenges and concerns associated with the federal budget deficit, tax reform and regulatory requirements, according to a survey released Monday. Results from the Economic Outlook Survey Q4 2009,
Tax Consequences of Mortgage Discharge
In the current real estate climate of decreased property values and excess inventories, many rental property owners are facing reduced cash flows due to vacancies. At the same time, the fair market value of their property may be close to or even less than the amount owed on the mortgage
Balancing Governmental Budgets Under GASB 54
Fund balance is an important measure that represents the difference between a fund’s assets and liabilities. The overall objective of fund balance reporting is to isolate that portion of fund balance that is unavailable to support the following period’s budget. Because governmental funds’ measurement focus is the flow of financial
Enterprise Risk Management
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) published a document to help boards of directors strengthen their oversight of enterprise risks. The four-page paper, Effective Enterprise Risk Oversight: The Role of the Board of Directors, calls attention to COSO’s Enterprise Risk Management—Integrated Framework (2004) and its definition
Small Public Companies Have Six More Months to Meet SOX Internal Controls Requirement
The SEC on Friday announced that the smallest public companies have six more months to provide audited assessments on the effectiveness of their internal control over financial reporting. Under section 404 of the Sarbanes-Oxley Act, public companies and their independent auditors are each required to report to the public on
Optimism Grew Again in Q3, Spread Across Industries
Heightened optimism among CPA financial executives seems to indicate the worst of the recession is in the past, but the consensus is growing that the U.S. economy is still a ways off from achieving a full recovery. While optimism about the economy continued to improve and spread across most industries
The U.S. Economic Crisis: Root Causes and the Road to Recovery
Many attribute the beginning of the financial crisis to the collapse of the housing market. While the housing bust indeed plays an important role, particularly in the health and stability of the banking sector, the real problem is deeper. The fluctuations observed across real estate markets over the last decade
COSO Emphasizes Board’s Role in Overseeing Risk
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) on Tuesday published a document to help boards of directors strengthen their oversight of enterprise risks. The four-page paper, Effective Enterprise Risk Oversight: The Role of the Board of Directors, calls attention to COSO’s Enterprise Risk Management—Integrated Framework (2004) and
IFRS Risk Planning and Controls Execution
Conversion to IFRS will be far more than a technical accounting exercise. Implementing IFRS will impact many, if not all, aspects of your business operations, including information technology. It may bring companywide changes that will spawn new risks. These include system changes, modifications to processes impacting employees’ day-to-day duties, and
Get Ready to Restructure
Coping with a downturn often means restructuring for companies. Every restructuring has many moving parts—including layoffs, impairments, asset revaluations and debt relief. To engineer a favorable outcome, stay ahead of events, says Scott Davis, a partner in the Corporate Advisory and Restructuring Services practice at Grant Thornton. He offers these
Understanding Internal Control and Internal Control Services
This white paper written by Thomas A. Ratcliffe and Charles E. Landes and prepared by the AICPA Audit and Attestation Standards and Professional Publications teams seeks to clear up confusion among practitioners relating to the concept of internal control over financial reporting. It describes the concepts of internal control (specifically
Features
SPONSORED REPORT
How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
April 30, 2026
Current developments in taxation of individuals: Part 2
April 30, 2026
Hedge funds: Tax structuring, planning, and compliance
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
