CPA Never under estimate the value
Women are more likely to succeed if they have role models, are able to find sponsors, and receive opportunities for training and high-profile assignments. Panelists at ENGAGE 2020 also discussed how barriers to advancement are intensified for women of color.
Source: JOA News
Read More here – What women need to rise in the accounting profession
Nonfederal entities and for-profit entities are required to include Provider Relief Fund payments in the reported total annual federal fund expenditures that determine whether they meet the $750,000 threshold that triggers audit requirements, the US Department of Health and Human Services announced.
Source: JOA News
Read More here – Provider Relief Funds included in audit determination, HHS says
The AICPA’s Personal Financial Satisfaction Index saw a record drop of 55% over last quarter. A 244% rise in underemployment was the factor most responsible for the decline, followed by drops in the CPA Outlook Index and job openings.
Source: JOA News
Read More here – Underemployment spurs record drop in financial satisfaction
New FASB rules have led to a host of new accounting and auditing questions for financial statement preparers and auditors. Some of the most frequently asked questions were answered at the AICPA’s ENGAGE 2020 virtual conference.
Source: JOA News
Read More here – Answers to 4 common accounting and auditing questions
Financial planners who use hourly billing, subscription fees and other alternatives to the AUM billing model shared their experiences at the ENGAGE conference.
Source: JOA News
Read More here – How CPA financial planners can succeed with alternative fee models
The IRS issued final regulations under the global intangible low-taxed income (GILTI) rules on the treatment of income subject to a high rate of foreign tax. At the same time, the IRS issued proposed rules conforming the GILTI high-tax exception rules with the Subpart F high-tax exception.
Source: Tax News
Read More here – GILTI rules address income subject to high foreign tax rate
The IRS issued final regulations under the global intangible low-taxed income (GILTI) rules on the treatment of income subject to a high rate of foreign tax. At the same time, the IRS issued proposed rules conforming the GILTI high-tax exception rules with the Subpart F high-tax exception.
Source: JOA News
Read More here – GILTI rules address income subject to high foreign tax rate
In a letter to congressional leaders on another round of pandemic aid legislation, the AICPA urged action on Paycheck Protection Program issues, tax obstacles to remote work, state and local government funding, and employer liability related to the coronavirus pandemic.
Source: JOA News
Read More here – AICPA urges Congress to act on PPP issues, other topics in pandemic legislation
The Institute of Internal Auditors issued a major update to the Three Lines of Defense model that has been popular in risk management and governance processes for years.
Source: JOA News
Read More here – Three Lines Model for risk management gets major update
Borrowers can apply for forgiveness of Paycheck Protection Program loans by using a new, free AICPA tool that CPA firms can also use to serve their clients. The tool will produce all government-required forms automatically.
Source: JOA News
Read More here – New AICPA tool automates PPP loan forgiveness process
