CPA Never under estimate the value
Revised draft instructions for partnership and S corporation Schedules K-2 and K-3 contain significant changes to the requirements to qualify for the domestic filing exception for filing and furnishing the 2022 schedules.
Source: JOA News
Read More here – Domestic filing exception requirements modified in draft Scheds. K-2, K-3
Deficiencies in a relatively new area of reporting — critical audit matters — contribute to the increase, but the board also sheds light on several good practices.
Source: JOA News
Read More here – PCAOB report: Audit deficiencies increase in 2021
The PCAOB finds that progress is being made related to the reporting of critical audit matters but reminds auditors of the board’s expectations.
Source: JOA News
Read More here – PCAOB report analyzes reporting of critical audit matters
Client advisory services (CAS) practices reported a median growth rate of 16% over the previous year and projected 15% growth in the current year, according to a survey conducted by CPA.com and AICPA & CIMA.
Source: JOA News
Read More here – CAS practices report growth, optimism for the future
More CPA decision-makers are pessimistic about the state of the U.S. and global economies, according to the quarterly Business and Industry Economic Outlook Survey.
Source: JOA News
Read More here – Inflation drives pessimism and fuels potential challenges
The IRS releases guidance on wage and apprenticeship requirements for enhanced tax benefits under clean energy provisions of the Inflation Reduction Act.
Source: Tax News
Read More here – Clean energy project prevailing wage rate and apprenticeship requirements issued
The IRS releases guidance on wage and apprenticeship requirements for enhanced tax benefits under clean energy provisions of the Inflation Reduction Act.
Source: JOA News
Read More here – Clean energy project prevailing wage rate and apprenticeship requirements issued
FASB is seeking comments on a proposed Accounting Standards Update intended to improve accounting guidance on related-party arrangements between entities under common control.
Source: JOA News
Read More here – FASB proposes update to leases guidance
The SEC’s Office of the Chief Accountant is accepting applications for Professional Accounting Fellow positions that will begin in the summer of 2023.
Source: JOA News
Read More here – SEC accepting Professional Accounting Fellow applications
A Center for Audit Quality report reveals an increase in public company audit committee disclosures, particularly related to cybersecurity, while an accompanying report aims to help audit committees manage their growing list of responsibilities.
Source: JOA News
Read More here – Audit committee disclosures increase, right along with workload
