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CPA firms will be granted six-month extensions for peer reviews, corrective actions, and implementation plans with original due dates between Jan. 1 and Sept. 30 of this year, according to a vote taken Thursday, May 7, 2020, by the AICPA Peer Review Board (PRB). Continue Reading
On Thursday, April 16, 2020, the U.S. Small Business Administration stopped accepting applications for the Paycheck Protection Program after exhausting the initial $349 billion in funding provided by Congress to fund forgivable loans to small businesses impacted by the COVID-19 pandemic. Continue Reading
The AICPA has compiled answers to top questions about taxpayer relief. Continue Reading
A member update on the Paycheck Protection Program from OSCPA President/CEO Sherri McPherson, CAE. Continue Reading
Eligible financial institutions will not be in violation of GAAP if they take advantage of the deferrals or suspensions of two FASB standards as permitted in the new federal coronavirus relief law, SEC Chief Accountant Sagar Teotia said Friday in a statement issued by the commission. Continue Reading
On April 2, 2020, the U.S. Small Business Administration issued an interim final rule for the Paycheck Protection Program (PPP), which is offering $349 billion in forgivable loans that small businesses impacted by the coronavirus pandemic can use to cover costs including payroll and rent. Continue Reading
Guidance and sample engagement letters for CPAs regarding the Paycheck Protection Program loan program Continue Reading
On March 23, Governor Kate Brown issued Executive Order 20-12, effective immediately until further notice. This is a statewide order. Failure to comply with the order will be considered an immediate danger to public health. Continue Reading
Clients sometimes ask their CPA to assist them with human resources-related matters, such as assisting with the recruitment of a new CFO, or with “redesigning their accounting department.” Here’s how to avoid some of the pitfalls in such scenarios. Continue Reading
Female accountants and auditors made less than their male colleagues did, according to a 2018 report from the American Association of University Women. Organizations can take several steps to close the gap, including tracking compensation metrics, narrowing ranges for starting salaries and setting objective guidelines for providing pay raises. Continue Reading