CPA Never under estimate the value
The limited assurance obtained by a practitioner in a review engagement is clarified in a standard issued by the AICPA Auditing Standards Board.
Source: JOA News
Read More here – New attestation standard clarifies work effort of review engagements
Among the expiring provisions are the lower 7.5% AGI floor for medical expense deductions and the deduction for qualified tuition and related expenses.
Source: Tax News
Read More here – Several tax provisions set to expire at end of 2020
Among the expiring provisions are the lower 7.5% AGI floor for medical expense deductions and the deduction for qualified tuition and related expenses.
Source: JOA News
Read More here – Several tax provisions set to expire at end of 2020
FASB will undergo a comprehensive project starting this month to determine its future standard-setting priorities, FASB Chair Richard Jones said at the AICPA Conference on Current SEC and PCAOB Developments.
Source: JOA News
Read More here – FASB to seek input on its standard-setting agenda
The IRS finalized proposed regulations on the qualified plan loan rollover rules amended by the law known as the Tax Cuts and Jobs Act with just one change in response to a comment.
Source: Tax News
Read More here – IRS finalizes qualified plan loan rollover rules
The IRS finalized proposed regulations on the qualified plan loan rollover rules amended by the law known as the Tax Cuts and Jobs Act with just one change in response to a comment.
Source: JOA News
Read More here – IRS finalizes qualified plan loan rollover rules
Only 26% of taxpayers have changed their withholding since Form W-4 was revised in 2019, an AICPA survey found.
Source: JOA News
Read More here – New Form W-4 slow to gain traction with taxpayers
Critical audit matters have more value when they provide entity-specific language and avoid boilerplate, experts say.
Source: JOA News
Read More here – Why the best critical audit matter disclosures use entity-specific info
PCAOB inspectors will focus more in 2021 on industries and audit areas that have experienced disruption as a result of the coronavirus pandemic. Inspectors also will try to become more unpredictable in the audits and areas they examine.
Source: JOA News
Read More here – PCAOB changes 2021 inspection focus areas as a result of COVID-19
The coronavirus pandemic has led to changes in operations that require increased attention to internal controls, Securities and Exchange Commission staff said at the AICPA Conference on Current SEC and PCAOB Developments.
Source: JOA News
Read More here – Internal control focus critical as a result of pandemic changes
