Accounting, Audit & Advisory

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SASB expands into standards for internet content moderation and human capital
accountingtoday.com Sep 18, 2020
The Sustainability Accounting Standards Board is moving beyond standards for environmental issues and more into the areas of social and governance reporting, with new projects on content governance in the internet media and services industry and...
Tax Fraud Blotter: Foul ball
accountingtoday.com Sep 18, 2020
Difficult and complex; $4,000 tax on $2 million; little horse sense; and other highlights of recent tax cases. Boston: Jennifer Beth True, of Lawrence, Massachusetts, a former employee of the IRS service center in Andover, Massachusetts, has...
IRS set to begin rolling out new case management system
accountingtoday.com Sep 17, 2020
The Internal Revenue Service is gearing up to deploy a more modern taxpayer case management system in December, starting with the customer support area of its Exempt Organizations unit and eventually more widely across the IRS, in the hope of...
IMA makes new push to spotlight CMA value during tough economic times
accountingtoday.com Sep 16, 2020
The Institute of Management Accountants has launched a new promotional campaign to highlight the role of Certified Management Accountants in real-world situations, taking a more serious tone in the midst of the novel coronavirus pandemic than its...
CFOs expect corporate tax rates to go up after election
accountingtoday.com Sep 15, 2020
A majority of CFOs and other C-suite executives anticipate corporate tax rates will rise after the election, no matter whether Donald Trump or Joe Biden wins in November, according to a new survey by PricewaterhouseCoopers. PwC’s Road to Election...
Build an inclusive community and culture in remote virtual work-related spaces
accountingtoday.com Sep 15, 2020
The fall semester is here for us accounting professors. While I taught an asynchronous online course during the summer, I know I will have my work cut out for me as I embark on teaching synchronous accounting courses this fall. I will not have...
Penalty relief may be available to those who miss Sept. 15 deadline due to COVID-19
accountingtoday.com Sep 15, 2020
The Sept. 15 tax filing deadline is causing worries among taxpayers and tax practitioners in the midst of the pandemic, but the American Institute of CPAs believes that taxpayers will be able to avoid tax penalties if they write “COVID-19” at the...
BDO USA sees revenue rise 11.3% to $1.8B despite pandemic
accountingtoday.com Sep 14, 2020
BDO USA reported annual revenues rose 11.3 percent to $1.8 billion for the fiscal year ending April 30, 2020, while facing the challenges of the COVID-19 pandemic in the latter part of the fiscal year. The biggest increase came in the advisory...
Fraud on the rise during coronavirus pandemic
accountingtoday.com Sep 11, 2020
Anti-fraud experts are seeing a rise in various types of fraud this year due in large part to the COVID-19 pandemic, according to a new report released Friday by the Association of Certified Fraud Examiners. The new report follows up on one...
Tax Fraud Blotter: Risky business
accountingtoday.com Sep 11, 2020
Miami: A federal court has held that preparer Jessyca Bernard has violated a 2018 permanent injunction that barred her from preparing returns for others. Bernard admitted that she violated the injunction by preparing 438 returns for others, using...
IRS to mail letters to non-filers about Oct. 15 stimulus deadline
accountingtoday.com Sep 10, 2020
The Internal Revenue Service plans to mail out letters later this month to an estimated 9 million non-filers, encouraging them to claim their economic impact payments by an Oct. 15 deadline. The letters will be going out to Americans who typically...
A world of tax trouble
accountingtoday.com Sep 8, 2020
To say that today’s international tax landscape is complex is an understatement, given the constant developments in rates, rules and regulations, not to mention the ongoing uncertainty related to the global COVID-19 pandemic and the upcoming U.S....
‘Basic’ accounting no more
accountingtoday.com Sep 7, 2020
With “work from anywhere” becoming more of a necessity right now, performing accounting tasks online has changed from being an option to the best choice for many. And now that you and your clients have gone down this road en masse, that’s not...
Leading in times of crisis
accountingtoday.com Sep 4, 2020
The tumult of 2020 has amplified many issues that the accounting profession was already contending with, including future-readiness, diversity and inclusion, and technological investment and training. In response to two of the defining moments of...
Tax Fraud Blotter: Goin’ to jail, Boss
accountingtoday.com Sep 3, 2020
Leniency in cancer case; rehab rip-off; repayment unlikely; and other highlights of recent tax cases. White Plains, New York: Preparer Michael G. Magnaldi, 55, has reportedly been granted a lenient sentence in an “uncommon” case after pleading...
AICPA teams with GRI, SASB on sustainability assurance
accountingtoday.com Sep 3, 2020
The American Institute of CPAs has received an increasing number of questions on sustainability assurance engagements and has joined forces with the Global Reporting Initiative on a document to answer some of those questions, while continuing to...
A better analytic for measuring students’ potential to pass the CPA Exam
accountingtoday.com Sep 3, 2020
We’ve heard of CPA shortages for decades, and the AICPA’s 2019 PCPS CPA Firm Top Issues Survey says staff recruitment remains the primary issue for most public accounting firms. Competition for accountants is fierce. The U.S. Bureau of Labor...
AICPA opens up applications for .cpa domains
accountingtoday.com Sep 1, 2020
The American Institute of CPAs and its technology arm, CPA.com, have begun the first phase of the rollout of their new top-level internet domain, .cpa, and are now accepting applications from CPA firms for specific addresses. This “Brand...
SEC reduces disclosures of legal proceedings, climate change and human capital risks
accountingtoday.com Aug 26, 2020
The Securities and Exchange Commission adopted rules Wednesday to reduce the number of disclosures of business, legal proceedings and other risk factors, including environmental and human capital risks, that public companies are required to make,...
CPA firms' hiring of accounting grads down 30%
accountingtoday.com Aug 26, 2020
The hiring of accounting graduates by CPA firms has declined 30 percent in recent years, and Illinois CPA Society president and CEO Todd Shapiro hopes to reverse that trend and make the profession more attractive to firms once again. That’s...
10 cybersecurity practices that create the best remote environment
accountingtoday.com Aug 26, 2020
As firms work remotely and cloud applications and security become more important than ever, accountants should be thinking about cybersecurity in new ways. As they say, the best defense is a good offense. But what may have worked in the past to...
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