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
BOI: Businesses cite procrastination, lack of clarity for not filing
Nearly three in eight businesses in a poll said they were waiting until the end of the year to file beneficial ownership information reports. Read More
FASB proposes guidance on measurement of credit losses
An Accounting Standards Update focuses on the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities. Read More
Regs. address partnership recourse liabilities, related-party rules
The IRS issued regulations that finalize proposed regulations issued in 2013. The guidance is focused on when and to what extent a partner is treated as bearing the economic risk of loss and the special rules applying to a partner related to another partner. Read [...]
IRS again delays effective date of $600 threshold for Form 1099-K reporting
The delay, the third by the IRS for Form 1099-K reporting for third-party settlement organizations, will treat 2024 and 2025 as transition years. Read More
New FASB standard addresses induced conversions
The standard aims to provide guidance missing in GAAP for the reporting of induced conversions related to settlement of convertible debt instruments. Read More
