2015 News Archive
 

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GWSCPA News

5 Ways Firms Can Better Prepare As Legal Claims Rise Against CPAs

Since 2000, on the heels of several corporate scandals and financial reporting fiascos, judges have been less likely to throw out cases against CPAs than they once were. Judges grant fewer motions for summary judgment and seem to require...

GWSCPA Holds 27th Annual Nonprofit Symposium

The Greater Washington Society of CPA’s Nonprofit Finance and Accounting Symposium generated connections, knowledge and results for more than 750 attendees, sponsors, and speakers within the nonprofit community at the Walter E. Washington...

FASB and IASB Ready Rollout of New Standards

Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board are bracing for the release of the leasing standard and other standards that have been under development and generating debate for over a decade....

SEC discussing supplementary IFRS option for US issuers

The SEC is considering regulatory changes that would make it possible for U.S. public companies to provide IFRS-based information as a supplement to U.S. GAAP financial statements. SEC Chief Accountant James Schnurr said Wednesday that the SEC...

CPA firms place new services atop innovation priority list

CPA firms across the board see new client services as their top innovation priority for the next 12 to 18 months, but firms that have embraced cloud technologies see more urgency in making those additions. That is one of the key findings of the...

Regulation: A moving but immovable target

Compliance requirements related to the Patient Protection and Affordable Care Act, P.L. 111-148, are just one example of the regulatory changes keeping finance departments busy these days. Amid local, state, and federal regulations, CPA...

Charities Concerned about IRS Proposal to Provide Social Security Numbers of Donors

Nonprofits are expressing concern about proposed regulations from the Internal Revenue Service and the Treasury Department that could give charities the option of providing Social Security numbers of donors who contribute more than $250 to their...

IRS Extends Hold on Tax Refunds for Questionable Foreign Returns

The Internal Revenue Service has extended its hold on certain tax refunds for returns filed by nonresident aliens and other foreign taxpayers on Form 1040NR beyond the usual 180-day limit in order to give extra scrutiny to the refund claims,...

Do Accounting Pros Live Double Lives When It Comes to Online Bill Payments?

Many accounting and finance professionals are living a double life. A new survey shows that professionals who work with accounts payable processes are far more likely to use electronic bill payment options for their personal finances than at...

Three Trends that Will Transform Your Accounting Practice in 2016

For CPA and accounting firms, the bar for client service has been raised. Clients expect to receive business advice beyond the traditional financial review and write-up from their accountants. They are looking for trusted advisors who not only...