Pipeline plan of action: Read the Accounting Talent Strategy Report
One year after its formation, the National Pipeline Advisory Group published its recommendations for improving the talent pipeline. Read More
Broker-dealer audit deficiencies on the rise, PCAOB finds
The board’s annual report identifies deficiencies in 70% of audit engagement reviews, offers advice aimed at reducing the number. Read More
Midsummer update: CPA licensure program continues to add students
Experience, Learn and Earn, a program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure, has 94 summer-session students representing more than 50 employers. The deadline for the fall semester is Thursday. Read More
5 new warning signs of a bad claim for pandemic-era ERC
The IRS said the five signs are the result of what IRS compliance teams found while analyzing and processing claims for the employee retention credit (ERC). The Service plans to briefly reopen its voluntary disclosure program. Read More
Funding spurs IRS improvements, but challenges remain, commissioner says
IRS provides fifth quarterly update on transformation efforts, with Commissioner Danny Werfel saying the agency is making “substantial progress.” Read More
FASB proposes scope-related changes to two ASC topics
The Financial Accounting Standards Board is seeking feedback on a proposed Accounting Standards Update related to the application of derivative accounting to contracts and to the diversity in accounting for a share-based payment from a customer. Read More
FASAB issues amendments, seeks new board members
The amendments conform implementation guidance to several existing reporting standards for federal government entities. Read More
Improving enterprise risk management: 5 steps to success
The results of an annual survey found that organizations have made minimal gains in risk oversight over the past five years despite an increasingly threatening risk landscape. Read More
FinCEN estimates millions of hours will be spent seeking BOI access
Almost 16,000 entities will spend over 8.7 million hours seeking access to beneficial ownership information in the first year, FinCEN estimated in a new notice. Read More
Final and proposed regs. issued on retirement plan RMDs
The final regulations reflect changes to the required minimum distribution rules made by the SECURE Act and SECURE 2.0 and generally follow proposed regulations issued in 2022. Read More
Warning for EBP audit firms: Service agreements creating headaches
A letter from the Employee Benefit Plan Audit Quality Center addresses nondisclosure agreements and recommends actions that auditors can take to avoid running afoul of legal, regulatory, or professional standards. Read More
CPA Exam to be offered in the Philippines
The AICPA and the National Association of State Boards of Accountancy expanded international testing availability of the U.S. CPA Exam to the Philippines with three testing centers. Read More
