News
 

< Return to List

News

IRS to Fix Controls over Obamacare Tax Credits

The Internal Revenue Service plans to strengthen its controls over the accounting for the Premium Tax Credit, which helps subsidize health insurance premiums under the Affordable Care Act, after a government watchdog found discrepancies of $447...

International Audit Regulators Seek Faster Improvement

Audit regulators across the globe saw some improvement in audit quality in their latest annual survey, but they say the pace of improvement needs to be faster. Forty-three percent of inspected audits of public interest entities that were included...

FASB eliminates effective dates for private company alternatives

A new financial reporting standard issued by FASB on Monday will allow private companies to forgo a preferability assessment the first time they elect any of the four private company accounting alternatives. The Private Company Council (PCC) was...

How to Lead an Effective Internal Audit Function

Leaders of the most effective internal audit functions demonstrate five key qualities, according to PwC’s 2016 State of the Internal Audit Profession Study. Expectations for internal auditors are high. In the survey of more than 1,600 chief...

Why FASB Should Hit Pause

Earlier this year, the Financial Accounting Standards Board voted to require companies to add to their balance sheet most of the leases they use. This rule, one among hundreds, could swell balance sheets by as much as $2 trillion and make...

CPA decision-makers turn negative about U.S. economy

Just 28% of CPA decision-makers in business and industry say they are optimistic about the U.S. economy for the next 12 months, and fewer than half are optimistic about their own companies. That combination has produced the lowest level of...

Estate basis consistency reporting rules are proposed

Proposed and temporary regulations issued by the IRS on Wednesday govern the newly enacted provision that requires consistency between a recipient’s basis in certain property acquired from a decedent and the value of the property as finally...

Career Builders and Killers for CPA Firm Staff

I was recently asked by CPA Leadership Institute, one of the industry’s finest resources for cutting edge CPA practice management, to describe the most common career builders and career killers for staff professionals. Here was my response:...

3 Tips for Accounting Firm Practice Management

It’s no surprise that the accounting industry and its professionals are focused increasingly on how global markets impact practice management and client service. But when asked about the top three concerns among accounting firm leaders, BKR...

11 Ways Small Businesses Lose Employees

Employee retention is a big deal, as a high turnover rate leads to greater recruiting, hiring, and training costs, as well as a lack of continuity and experience. [This article first appeared on the SurePayroll blog.] While some companies...