CPA Never under estimate the value
The Public Company Accounting Oversight Board issued amendments that are designed to align its independence requirements with SEC rules that were updated in 2019 and 2020.
Source: JOA News
Read More here – PCAOB amends independence requirements to align with SEC changes
The SEC has voted to adopt amendments that are intended to modernize, simplify and enhance management’s discussion and analysis and other required financial disclosures.
Source: JOA News
Read More here – SEC amends guidance on MD&A, other disclosures
As the COVID-19 pandemic has changed the business environment, clients have turned to CPAs for help keeping their businesses afloat. CPAs serving restaurant, medical and real estate clients discuss how they’ve used client advisory services to help their clients stabilize and reposition their businesses.
Source: JOA News
Read More here – How CPAs help clients reinvent struggling businesses during COVID-19
The AICPA is among 80 organizations that have signed a pair of letters to SBA, Treasury and congressional leaders calling on the agencies to temporarily suspend use of the new Paycheck Protection Program Loan Necessity Questionnaires.
Source: JOA News
Read More here – Letters signed by AICPA raise concerns about PPP Loan Necessity Questionnaires
A new publication provides guidance on how to apply the Committee of Sponsoring Organizations of the Treadway Commission’s enterprise risk management framework to manage and mitigate compliance risks.
Source: JOA News
Read More here – How to apply COSO’s ERM framework to compliance risk management
FASB added a project to its technical agenda that would give certain private companies and not-for-profits the option to perform goodwill triggering event evaluation only on the annual reporting date.
Source: JOA News
Read More here – FASB pursues impairment-triggering relief for certain private companies, NFPs
IRS Commissioner Charles Rettig told attendees at the AICPA National Tax & Sophisticated Online Tax Conference not to expect blanket penalty relief in response to the COVID-19 pandemic, and he addressed other effects of the pandemic on the agency.
Source: Tax News
Read More here – IRS commissioner: Penalty relief will not be ‘blanket’
IRS Commissioner Charles Rettig told attendees at the AICPA National Tax & Sophisticated Online Tax Conference not to expect blanket penalty relief in response to the COVID-19 pandemic, and he addressed other effects of the pandemic on the agency.
Source: JOA News
Read More here – IRS commissioner: Penalty relief will not be 'blanket'
The Securities and Exchange Commission voted to permit the use of electronic signatures in authentication documents and to facilitate electronic service and filing in the commission’s administrative proceedings.
Source: JOA News
Read More here – New SEC rules enable electronic submissions
The Governmental Accounting Standards Board proposed Q&A guidance on the implementation of its standards for state and local governments.
Source: JOA News
Read More here – GASB proposes new implementation guidance
