CPA Never under estimate the value
Stakeholders have until Jan. 4 to comment on a proposal to simplify the application of guidance used to determine whether equity-linked contracts, such as warrants, should be considered indexed to an entity’s own stock and potentially classified as equity.
A public comment period on proposed changes to the AICPA Code of Professional Conduct will soon open after the AICPA’s Professional Ethics Executive Committee voted Tuesday to publish an exposure draft related to alternative practice structures, including those involving private-equity investment.
Sullivan currently serves as chair of the Financial Accounting Standards Advisory Council and served as an audit leader during a long career with Deloitte.
Stakeholders have until Jan. 11 to provide feedback on a proposed Accounting Standard Update aimed at improving operability and reducing complexity and cost.
Three years after tax professionals attended the AICPA National Tax Conference’s first session on generative AI, a speaker from the 2023 conference and a speaker at this year’s conference say the technology is changing how accountants work, not replacing them. They also say AI’s growing role in practice requires safeguards, oversight, and experienced professionals.
Feedback is being accepted through mid-January on proposed updates to the framework used by CPAs to evaluate controls over an organization’s information systems.
A TIGTA report linked ghost preparers to $179 million in refund claims over two years. Its findings come as legislators consider the Taxpayer Assistance and Service Act, which would expand IRS oversight of paid tax return preparers.
The board’s review of 2025 public company audit inspections revealed a significant decrease from 2024 in instances where an audit firm failed to obtain sufficient appropriate evidence to support its opinion on a financial statement.
Proposed regulations governing employer contributions to Trump accounts are “administratively burdensome” and make a 2026 rollout potentially difficult, the AICPA said. A letter to the IRS and Treasury asked for employers to be given more time and for the programs to be easier to administer.
Stakeholders have until Nov. 23 to comment on a proposed Accounting Standards Update related to Topic 606, Revenue from Contracts with Customers. Also, FASB is set to hold an update for private companies and not-for-profits.
