Category: AICPA News

Most mergers and acquisitions involve some form of a finance transformation, according to a new Deloitte survey that looks at related challenges and how to address them.

The AICPA Professional Ethics Executive Committee (PEEC) approved updates to the AICPA Code of Professional Conduct, including two new definitions and one revised definition.

Nearly 12 million taxpayers received refunds for 2020 through automatic corrections the IRS made because the American Rescue Plan Act added an exclusion for unemployment compensation after some taxpayers had already filed their returns.

Regulation is an important step to establishing a baseline for ESG reporting, but it’s only a first step, according to panelists at the AICPA & CIMA Conference on Current SEC and PCAOB Developments.

A TIGTA audit report says the IRS wrongly included over 14,000 low-income taxpayers among those subject to private collection agencies. The IRS disputed the report, saying those taxpayers aren’t protected by the Taxpayer First Act.

The director of the PCAOB inspections team recently issued a call to action for auditors at the AICPA & CIMA Conference on Current SEC and PCAOB Developments.

The year-end appropriations act included the Secure 2.0 Act, which makes many changes to the retirement plan rules, including expanding automatic enrollment and increasing the starting age for required minimum distributions.

Updates to the CPA Exam Blueprints introduce flexibility and reflect the changing role and demands of today’s CPAs. Three sections of the Exam will cover Core competency skills, and the candidate can select a Discipline for the fourth section.

The standard mileage rate for business use of a vehicle has increased, the IRS announced, effective as of Jan. 1.

The IRS announced late in December that it is delaying the new, lower $600 reporting threshold for third-party settlement organizations so that it will not apply to transactions in 2022.