2015 News Archive
 

< Return to List

GWSCPA News

SEC Charges CPA with Fraud

The Securities and Exchange Commission imposed sanctions Thursday against a Florida-based CPA for performing deficient and fraudulent audits and quarterly reviews for eight publicly traded companies, and issuing false and misleading audit...

AICPA expresses concerns about tax return preparer legislation

Proposed legislation that would give the IRS broad authority to regulate paid tax return preparers is too broad, the AICPA said Tuesday in a letter to the Senate Finance Committee. The letter, from AICPA Tax Executive Committee Chair Troy Lewis...

IRS Updates Per Diem Rates for Lodging and Meals

The Internal Revenue Service has set the special per diem rates starting Oct. 1, 2015, which taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home. Notice 2015-63...

Investors Trust Auditors the Most

Investors place the greatest trust in independent auditors, according to a new survey by the Center for Audit Quality. The CAQ’s 2015 Main Street Investor Survey asked 1,012 investors by telephone how much confidence they have in a number...

Charities would be permitted to issue information returns to donors

Charities will be allowed to file information returns instead of providing contemporaneous written acknowledgment of charitable donations under proposed regulations issued by the IRS on Wednesday that implement a statutory exception that donors...

Obama Renews Carried Interest Tax Fight with Republican Help

(Bloomberg) President Barack Obama, seizing on a lifeline from Republican presidential candidates, is dusting off his campaign to end a tax break exploited by private-equity managers, venture capitalists and some hedge fund executives. Using the...

Recruiting environment remains a challenge for finance decision-makers

The search for top-notch employees is vexing some finance decision-makers, many of whom say competition for talent is increasing or remaining an obstacle. Respondents to an AICPA survey say employee and benefit costs are a major challenge to...

GAO Questions IRS Case Selection Process for Collections

The Internal Revenue Service’s Automated Collection System lacks key controls for selecting which delinquent tax cases to pursue, according to a new report by the Government Accountability Office. The IRS's ACS is one of the main means for...

Profits Up At U.S. Accounting Firms

Have profit margins, as measured by equity partner profits as a percent of revenue, been declining at firms over the last 10 years or so? Albert Einstein said “If I had an hour to solve a problem and my life depended on the solution, I...

More evidence of accelerating growth in accounting and finance salaries

A report released this week provides additional evidence that accounting and finance salaries are rising at an increasing pace. Accounting and finance salaries in the United States will grow 2.4% in 2016, according to a 2016 Salary Guide...