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PCAOB considers changing focus of inspections

Enhancements in audit quality and audit firms’ quality-control procedures have the PCAOB considering changes in the focus of its inspection program, PCAOB member Jeanette Franzel said Thursday. “In light of significant improvements...

The Management Accounting Profession Will Double by 2024 - Are We Prepared?

As a management accountant and a CEO, I know first-hand the field continues to grow and expand. I was happy to learn that the Bureau of Labor Statistics expects management accountants and auditors to experience double-digit growth through 2024....

Whitepaper Explores New Technologies and Expanding Role of Accountants

CPAs are on the front lines with clients every day. As a CPA, we see our clients’ struggles, their wins, their vulnerabilities, and their strengths. Our relationship is critical, and it is very important for us to be seen as their number...

IRS Issues Rules on Self-Employment Taxes for Partners

The Internal Revenue Service has released final and temporary regulations on the self-employment tax treatment of partners in a partnership that owns a disregarded entity and whether they can participate in employee benefit plans. The regulations...

Time to Get Serious about Client Service and Value Billing

Did you ever hear that accounting firms, particularly the larger ones, don’t provide distinctive client service and only compete on price? Sure you have. Why? It’s because many of the Top 100 firms have become merely good firms with...

IRS Miscalculating Tax Credits for Obamacare

The Internal Revenue Service’s computer systems miscalculated the allowable Premium Tax Credits for more than 27,000 taxpayers who received subsidies for health insurance under the Affordable Care Act, according to a new report. The report...

IRS to Tighten Program Offsetting Tax Refunds against Tax Debts

The Internal Revenue Service plans to make changes in its procedures and computer systems to better identify a taxpayer’s outstanding tax debts and subtract them from the tax refunds they receive, particularly for owners of small...

The Skills for Success

Developing and demonstrating the talents employers are looking for British science writer Roger Lewin once said, “Too often we give children answers to remember, rather than problems to solve.” And if we’re honest, this is often...

3 Trends That Are Affecting The Accounting Profession

Many of the things we see as common today were only figments of science fiction writers’ imaginations forty years ago. Motion detector doors, self-parking cars, hands free cellular phones, global video chat, and medical devices that almost...

New guidance issued for federal public-private partnership disclosures

Disclosures about federal public-private partnerships will be required to be presented in federal reporting entities’ general-purpose financial statements under guidance issued Wednesday. The Federal Accounting Standards Advisory Board...