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Accounting and Tax Firms Top List for Workplace Flexibility

It's almost the end of tax season, and most professional at accounting and tax firms are likely hunched over their multi-monitor displays for 16 hours a day, dreaming of vacationing on a private island. But some may be toiling away in the comfort...

How Accounting Firm Compensation Committees Assess Partner Performance

Firms use several methods to allocate income among the partners. At firms with 8 or more partners the compensation committee system is by far the most common. With this approach a small number of partners are elected to allocate income using...

Practice Management - An Opportunity to Grow

Providing the best client service possible is an important accounting professional mantra. Expanding your services within your client base is a common strategy. Adding new clients in your specialty or niche can be another. How do you manage your...

Inspections show high compliance with PCAOB audit committee communication rules

More than nine of 10 audits inspected in 2014 showed no failure to comply with the PCAOB’s recently issued standard on communications with audit committees, according to a report released Tuesday. In 93% of the audits inspected in 2014 for...

IRS Offers New Cash Payment Option

WASHINGTON — The Internal Revenue Service announced today a new payment option for individual taxpayers who need to pay their taxes with cash. In partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company,...

Heed this Advice for Helping Clients Resolve Their Unpaid Taxes

When it comes to getting a resolution considered during an Internal Revenue Service collection case in which the IRS doesn’t have criminal prosecution aspirations, there is only one piece of advice that fits every case. The most basic and...

Issuance of attestation standards completes clarity project

The final task in the clarity project undertaken by the AICPA Auditing Standards Board (ASB) was completed Tuesday with the issuance of clarified attestation standards. The ASB issued Statement on Standards for Attestation Engagements (SSAE) No....

IRS Warns Washington D.C., Maryland, Virginia Residents of New Phishing Scam Targeting National Capital Area

WASHINGTON — As reports of phone scams as well as email phishing schemes continue across the country, the Internal Revenue Service warned taxpayers of a new phishing scam targeting Washington D.C., Maryland and Virginia residents. This...

Obama Calls Inversions 'Insidious,' Praising Treasury Rules

(Bloomberg) President Barack Obama issued a forceful denunciation of companies that shield profit overseas through corporate inversions, praising new rules that would curb what he called one of the U.S. tax system’s most insidious...

What will be tested on the next CPA exam

As the business environment has changed, a shift has occurred in the type of work newly licensed CPAs perform. Technical proficiency of accounting, auditing, and tax concepts remains important. Following the AICPA Examinations team’s most...