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New GASB guide addresses fiduciary activities

  • June 19, 2019

The Governmental Accounting Standards Board has issued an implementation guide that includes questions and answers related to recently released GASB standards on accounting and financial reporting for fiduciary activities. Implementation Guide No. 2019-2, Fiduciary Activities, is effective for all reporting periods beginning after Dec. 15, 2018. Continue Reading

Tax law changes join staffing as a top issue for CPA firms

  • June 13, 2019

Finding qualified staff is once again most CPA firms' top concern, according to the 2019 PCPS CPA Firm Top Issues Survey. Many firms also name keeping up with changes in tax law a pressing issue, likely a reflection of the impact of the Tax Cuts and Jobs Act on the profession. Firms also rank privacy and security as an important concern. Continue Reading

NASBA and AICPA seek input on evolving licensure model

  • June 12, 2019

Rapid technological advancement has the National Association of State Boards of Accountancy and the AICPA exploring ways to change CPA licensure requirements to reflect the skills and knowledge CPAs increasingly need. NASBA and the AICPA are requesting feedback on five guiding principles that are meant to inform the evolution of the licensure model. Continue Reading

ASB enhances communication in auditors’ reports

  • May 29, 2019

The AICPA Auditing Standards Board (ASB) issued standards May 8 that are designed to enhance the communicative value of the auditor’s report and align generally accepted auditing standards (GAAS) with the standards issued by the International Auditing and Assurance Standards Board (IAASB) and the PCAOB. Continue Reading