2015 News Archive
 

< Return to List

GWSCPA News

Key areas of risk in the 2015 audit cycle

Professional skepticism and internal control over financial reporting are two key areas for auditors that have attracted the focus of regulators in recent years. These areas are among those addressed in one of two risk alerts published Monday by...

Restatements Infect Reporting at Peer Companies

Counterintuitively, corrections of misreported financials actually prompt peers to imitate the misreporting, a study finds. Financial restatements may be contagious, serving as a “handbook of trickery” for peer companies unless the...

Collateral Damage

When the financial system teetered on the brink of collapse in 2008, the biggest problem was a lack of liquidity. Banks were unable to refinance themselves in the short-term debt markets. Central banks had to step in on a massive scale to offer...

Businesses Frequently Overpay Sales and Use Taxes

With states and localities increasingly looking to collect taxes from people and businesses that buy goods and services online, many taxpayers may not be aware that they could be overpaying sales and use taxes. In a recent report, McGladrey LLP...

Could a CFO Run for President?

With non-career politicians doing well in polls, is a CFO candidacy so far-fetched? If the current presidential-election polls are any indication, the American people are willing to consider someone beyond a career politician in the White House...

Winners of the GWSCPA 2015 Women to Watch Awards Announced

10/13/2015 Contact: Elissa Brousseau Communications & Marketing Manager Greater Washington Society of CPAs 202-601-0561 ebrousseau@gwscpa.org Washington, DC —The Greater Washington Society of CPAs (GWSCPA) has announced the winners of the...

IRS Falls Short on Eliminating SSNs from Taxpayer Correspondence

The Internal Revenue Service has made only limited progress to date in eliminating the unnecessary use of Social Security Numbers in tax forms, letters and notices, according to a new report, leaving taxpayers exposed to potential identity theft....

Congress Eyes Impact of Tax Breaks on Rising Tuition Costs

The House Ways and Means Oversight Subcommittee held a hearing Wednesday examining the rising costs of higher education and tax policy, including how tax breaks could be a contributing factor behind spiraling tuition costs. “Today...

IRS gives South Carolina flood victims tax relief

The IRS announced that South Carolina flood victims who live or have businesses in the South Carolina counties that have been declared eligible for disaster assistance by the Federal Emergency Management Agency (FEMA) after President Barack Obama...

IRS Deadline for Those With Tax Extentions is October 15 - Last Minute Tips for Filers

Taxpayers whose tax-filing extension runs out on Oct. 15 are being urged to double check their returns for often-overlooked tax benefits and then file their returns electronically. It's also not too late to seek professional tax guidance from a...