The adjustments reflect how inflation is slowing down and upcoming changes to the rules based on the Secure 2.0 Act and the Tax Cuts and Jobs Act.
Day: November 4, 2024
PCAOB board member complains of persecution by senators
Christina Ho said Sens. Elizabeth Warren and Sheldon Whitehouse are unfairly singling her out for audit failures at firms.
Final regs. modernize process for sale of taxpayers’ property
The regulations under Sec. 6335, which had not changed substantially since they were first issued in 1954, did not reflect modern electronic methods of submitting bids and accepting payment from bidders.
FASB sets new reporting standards for disclosure of expenses
FASB published an Accounting Standards Update requiring public companies to disclose additional information about certain expenses in the notes to financial statements.
M&A roundup: Across the country and around the world
KSM adds SGKK; KNAV merges in HLG Netherlands; ATKG combines with SPR.
PCAOB updates standard-setting, rulemaking agendas
The Public Company Accounting Oversight Board staff updated its short- and mid-term standard-setting agenda as well as its rulemaking agenda.
Why accounting firms are bleeding talent
Stagnating wages and gaps in career path awareness have pushed young professionals away from accounting, leading to a dearth of candidates and leaving firms scrambling to find a solution.