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Tone at the top and appropriate deployment of personnel are among the most important indicators of a quality audit, according to a survey of CPA firms performed by the AICPA. Continue Reading
Relief from single audit requirements has been granted for some small governments that are not accustomed to such audits but would have needed them because of unprecedented government funding in the wake of the COVID-19 pandemic. Continue Reading
Despite major industry-wide shifts caused by technology, there are some fundamental trends within the profession which are unlikely to change. Continue Reading
Fraud is everywhere, and the threat of fraud keeps increasing. Due to COVID-19 and current economic conditions, there is an increased risk of fraud for both individuals and businesses. Continue Reading
The past two years have been tough on the profession, with repeated rounds of new legislation and fresh IRS guidance, sometimes with convoluted procedural processes. Given the many challenges practitioners face in terms of IRS services, here are some practical tips to maximize service to client. Continue Reading
When looking at the world’s providers of financial advice, CPAs and accountants have a distinct advantage — should they choose to use it. Continue Reading
These are just a few examples of the type of government assistance that are potentially in the scope of a new standard requiring disclosures about government assistance. Continue Reading
A new Accounting Standards Update (ASU) aims to better align hedge accounting with an organization's risk management strategies. Continue Reading
Nontax events during the past year had an increasingly intense impact on taxes of all kinds, a result of the growing interconnectedness between individuals, businesses and governments worldwide. Here are the latest tax shifts that professionals should know about. Continue Reading
The last month of tax season just started and if you are like most practices, it will be the busiest period of the year. Three ways of easing the workload and creating a lighter atmosphere are for everyone to follow the system, improve scheduling, and shift some work from reviewers to preparers. Continue Reading