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  • February 25, 2021

    Proposed SAS, Inquiries of the Predecessor Auditor Regarding Fraud and NOCLAR was issued for public comment. (Amends Statement on Auditing Standards [SAS] No. 122, Statements on Auditing Standards: Clarification and Recodification, as amended, section 210, Terms of Engagement [AICPA, Professional Standards, AU-C sec. 210]).

  • February 17, 2021

    As the demand for environmental, social, and governance (ESG) information increases, related opportunities for CPAs involved in financial reporting and auditing continue to grow. Investors are showing more interest in ESG information, and some are calling on public companies to incorporate into SEC submissions ESG disclosures on topics such as climate change and diversity and inclusion metrics.

  • February 11, 2021

    The release of the Office of Management and Budget’s (OMB’s) Compliance Supplement addendum for single audits right before Christmas gave practitioners long-awaited guidance for these specialized audits that are especially complicated because of the surge in government funding related to the coronavirus pandemic.

  • February 10, 2021

    FASB responded to an urgent pandemic-related accounting concern Wednesday by voting to provide private companies and not-for-profits with an alternative to the requirement to monitor and evaluate goodwill impairment triggering events throughout the fiscal year and potentially measure a goodwill impairment at the date of triggering events.

  • February 5, 2021

    Financial reporting is getting a green makeover. The global trend to incorporate ESG (environmental, social, and governance) data in mainstream financial reports is accelerating.

  • January 27, 2021

    The pandemic has brought about many unusual situations for not-for-profits that their financial statement auditors will have to scrutinize. For example, a ballet company that held no in-person performances in 2020 might seem to be a going concern because of lack of revenue, but what if the ballet company is in a big city whose government and arts-supporting community have stepped up and are determined not to let it fail?

  • January 19, 2021

    After the recent enactment of the Consolidated Appropriations Act, 2021 (CAA 2021), P.L. 116-260, taxpayers who obtained loans under the Paycheck Protection Program (PPP) are also eligible to claim the employee retention credit (ERC) but need guidance on how the provisions interact.

  • November 4, 2020

    A proposed standard issued by the AICPA Auditing Standards Board would give practitioners more guidance on auditing management’s estimates of fair value, including on the use of pricing services.

  • November 3, 2020

    Registration for the 2020 Governmental A&A Forum is open! Save more on 8 hours of A&A when you register by December 1st. See the agenda for this special annual event.

  • October 8, 2020

    Taxpayers interacting with the IRS have the right to finality. This is especially for taxpayers who are being audited. This is one of ten basic rights —collectively known as the Taxpayer Bill of Rights.