The board has proposed requiring auditors to provide information on the most challenging, subjective, or complex aspects of an audit.
Quiz: Learn to choose between ‘who’ and ‘whom’
In everyday speech, we don’t need to sweat the whom. Here is a short quiz that gives you practice in choosing who/whom and whoever/whomever in more complex sentences.
Want your voice heard in Washington? Start here
Hundreds of CPAs visited with lawmakers and congressional staff this week to advocate on four key issues for the profession. Here are tips on how to schedule a similar visit or get your voice heard from back home.
FASB performs maintenance on Accounting Standards Codification
FASB made the first of several scheduled maintenance updates to its Accounting Standards Codification as part of an effort to simplify the codification’s structure.
CPAs are positive but keeping an eye on training, wage pressure
The outlook for U.S. finance decision-makers’ businesses remains positive, according to a quarterly survey, which shows some concern about employee costs and availability of workers.
FinREC issues a dozen revenue recognition working drafts
The AICPA’s FinREC issued 12 working drafts of industry-specific accounting issues.
PCAOB expands auditors’ reporting duties
Auditor’s reports will provide more information to financial statement users under new rules.
Federal court strikes down PTIN fees, upholds PTINs
The D.C. District Court held that the IRS has the authority to require preparers to use preparer tax identification numbers (PTINs) but that it cannot charge fees for issuing PTINs.
IASB interpretation addresses uncertainty in accounting for income taxes
A new interpretation issued by the IASB specifies requirements for how organizations should reflect uncertainty in their accounting for income taxes.
Hedging may get easier under new FASB accounting standard
Accounting obstacles that prevented some organizations from using hedging to manage risks may be eliminated by a standard that received preliminary approval from FASB.