Category: AICPA News

Plan calls for a focus on protecting the public against fraud, implementing robust regulations, and supporting a skilled and diverse workforce.

An audit report from TIGTA says taxpayers would benefit if the IRS used digital communications tools appropriately. The IRS challenged much of the audit report, including saying that TIGTA didn’t understand some of the agency’s objectives for its digital communications program.

FASB is seeking comments on a proposed new chapter of its Conceptual Framework related to recognition and derecognition criteria and guidance for items’ addition to and removal from financial statements.

Those on the front line of the sustainability reporting landscape share what’s to come in 2023 and what accounting professionals need to know to prepare.

Proposed foreign tax credit regulations provide guidance on the reattribution asset rule for purposes of allocating and apportioning foreign taxes, the cost recovery requirement, and the application of the source-based attribution requirement to withholding tax on royalty payments.

The Financial Accounting Foundation released its new strategic plan, which outlines the strategic goals that the organization will address over the next several years.

Public comments sought on quality control standards that incorporate standards established by the AICPA and the IAASB.

The statement says ID.me inflated the amount of work it could provide and the amount of federal dollars lost to pandemic fraud, the latter in an effort to increase demand for its services. In his response, the CEO says he would not use such a crisis to help his company.

The IRS Advisory Council issued a report Wednesday that emphasized recurring themes such as the need for consistent and multiyear funding and the importance of effective communication with taxpayers.

Employers and employees alike are looking for sustained success in the workforce — no easy task but one that is achievable, even in tough economic times.