PEEC issues recruiting guidance, exposure draft on simultaneous employment
The Professional Ethics Executive Committee’s guidance is related to recruiting services for attest clients, and the exposure draft includes a new definition and interpretation of simultaneous employment or association. Read More
IRS grants partnerships additional time to furnish complete Forms 8308
The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements. Read More
Gravitating to gen AI: CPA leaders show increased interest
More than 3 in 5 business executives surveyed by the AICPA are at least contemplating the use of generative AI, signaling that broad adoption could be around the corner. Read More
FinCEN: Companies can voluntarily file BOI reports during injunction
The Financial Crimes Enforcement Network said in an alert, however, that reporting companies do not have to file beneficial ownership information reports while a preliminary injunction is in effect. Read More
PCAOB shares inspection priorities for 2025
The board, facing an uncertain future following the presidential election, plans to prioritize inspections in the financial, real estate, and information technology sectors in 2025. Read More
How the new QM standards may affect peer review
Follow these tips to ensure a smooth peer review process once the new standards take effect. Read More
New guide clarifies accounting and valuation of business combinations
AICPA publication offers best practices for professionals working in accordance with a set of FASB standards related to accounting and valuations in mergers and acquisitions. Read More
Engagement quality reviews: What auditors should know
Firms with A&A practices should be aware that the new quality management standards include changes to engagement quality reviews. Read More
Growth in client advisory services set to continue rapid increase
Firms in CPA.com’s CAS Benchmark Survey report a significant increase in median revenue and project an increase of nearly 100% over the next three years. Read More
CPA executives upbeat about domestic economy in 2025, survey says
Optimism about the U.S. economy rebounded significantly among finance decision-makers, according to a new AICPA & CIMA survey. Revenue and profit forecasts are up, along with expansion and hiring plans. Read More
Nationwide injunction halts BOI reporting for now
Finding the Corporate Transparency Act “likely unconstitutional,” a federal district court prohibited its enforcement and the enforcement of its accompanying regulations. Read More
More return-to-office mandates? Report looks beyond the headlines
While some large companies have recently made news by making their employees return to the office, another trend is making bigger gains across the employment landscape. Read More
