Category: AICPA News

The plaintiffs who won a summary judgment that bars enforcement of the Corporate Transparency Act against them said the Financial Crimes Enforcement Network should pause beneficial ownership information reporting requirements for all businesses.

The Federal Accounting Standards Advisory Board issued an exposure draft focused on seized and forfeited digital assets, the latest regulatory body to add guidance related to digital assets.

Professionals with forensic and fraud expertise share techniques auditors can use when completing AU-C Section 240 requirements.

While acknowledging that the law is well intentioned, the opinion from a U.S. district court in Alabama said Congress lacked authority to enact the business ownership information reporting requirement.

IRS Commissioner Danny Werfel said Thursday that the effort will begin with compliance letters going out to high-income taxpayers in 125,000 cases where third-party information indicated federal tax returns have not been filed since 2017.

The National Pipeline Advisory Group pipeline surveys, intended to shape profession-wide efforts to tackle the accounting talent shortage, went live on Thursday.

Emerging technology can help the finance function eliminate errors, but effective execution may hinge on companies cultivating a high level of acceptance among users.

The Service said that U.S. withholding agents are administratively exempt from the requirement to e-file Forms 1042 during calendar year 2024, while foreign agents are exempt in calendar years 2024 and 2025.

The regulator scheduled a virtual roundtable and reopened the comment period in response to concerns about proposed amendments to the auditor’s responsibility for considering a company’s noncompliance with laws and regulations (NOCLAR).

Keeping up with new technology is the top personal challenge for executives, followed closely by balancing career and personal life, and embracing change and innovation, according to a new survey.