The PCAOB adopted amendments Thursday to align its independence requirements with recently updated SEC rules. Last month the SEC amended its rules in an effort to prevent the triggering of auditor independence rules violations in situations that don’t necessarily impair auditor judgments. The amendments were designed to prevent unnecessary red flags that could cause auditors, […]

The SEC is adopting amendments designed to modernize, simplify, and enhance management’s discussion and analysis and other financial disclosure requirements in Regulation S-K. The changes to Regulation S-K are designed to sharpen the focus on material information by eliminating Item 301 (Selected Financial Data) and changing item 302(a) (Supplementary Financial Information) and Item 303 (MD&A). […]

As the COVID-19 pandemic has changed the business environment, clients have turned to their CPAs for help keeping their businesses afloat. CPAs who offer client advisory services have been well positioned to help struggling clients stabilize and reposition their businesses. Here’s how three CPAs working with clients in heavily affected sectors have used client advisory […]

Emitwise founders, Mauro Cozzi, Eduardo Gomez and Ben Peddie Emitwise Had things gone according to plan, world leaders, diplomats, captains of industry and environmentalists would be assembling in Glasgow this week to take part in the COP26 conference on climate change, an event that was seen as crucial in building momentum behind the global imperative […]

The AICPA is among 82 organizations that have signed onto a pair of letters expressing concerns about the new Paycheck Protection Program Loan Necessity Questionnaires, which require PPP borrowers with loans of $2 million or more to complete a new form and provide extensive documentation supporting their request for relief funds. In the two letters, […]

Nearly one-third of companies are reducing their overall real estate footprint as a result of the COVID-19 pandemic, with 31 percent of companies renegotiating leases for more favorable terms, according to a new report. The report, released Tuesday by LeaseQuery, a provider of lease-accounting software, found that finance leaders cited exit clauses (35 percent) and […]

News MANAGEMENT ACCOUNTING By Ken Tysiac The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has published new guidance on how to apply the COSO enterprise risk management framework to effectively manage and mitigate compliance risks. Compliance Risk Management: Applying the COSO ERM Framework describes the characteristics of compliance and ethics programs associated with […]

Between the pandemic, aging CPA firm owners and staffing tensions, many in the accounting profession anticipate a huge uptick in firm mergers and acquisitions over the next 24 months. If the predictions and emerging trends are right, it’s important for firm leaders to plan accordingly. Will you start your own research and outreach? Will you […]

[embedded content] On this Accounting Tutorial we discover the SIMILARITIES and DIFFERENCES between Managerial Accounting and Monetary Accounting. Up till now, the subjects that I’ve coated within the ‘Accounting Fundamentals’ playlist have tended to fall throughout the realm of Monetary Accounting. Nevertheless, Accounting is way greater than simply Monetary Accounting. You may consider it as […]