CPA Never under estimate the value
Changes to Regulation S-P call for covered institutions to develop an incident-response plan beginning in 2026.
Source: JOA News
Read More here – SEC strengthens requirements for response to data breaches
The statement offers new definitions of “other practitioner” and completes the suite of standards that firms performing A&A services are required to use to design and implement a QM system by Dec. 15, 2025, and to perform A&A services in accordance with for engagements beginning on or after that date.
Source: JOA News
Read More here – New SSAE caps standards related to quality management
The IRS was required to reduce the charge for preparer tax identification numbers after a federal court found the previous amount excessive. The final regulations adopt the text of interim final and proposed regulations issued in 2023 without change.
Source: JOA News
Read More here – Regulations finalize PTIN fees for tax return preparers
PCAOB updates general auditor responsibilities, quality control rules
AS 1000, General Responsibilities of the Auditor in Conducting an Audit, replaces AICPA-provided standards, and QC 1000, A Firm’s System of Quality Control, considers the AICPA’s new quality management standards.
Source: JOA News
Read More here – PCAOB updates general auditor responsibilities, quality control rules
The National Pipeline Advisory Group will present an extensive draft of its findings to AICPA Council before publishing the final report over the summer.
Source: JOA News
Read More here – NPAG recommends solutions to the talent shortage
The proposed rule would require SEC-registered investment advisers and exempt reporting advisers to establish customer identification programs aimed at curbing financial crimes.
Source: JOA News
Read More here – Proposal from SEC, FinCEN calls for investment advisers to ID customers
After steep increases for 2024, the HSA maximum contribution amounts allowed by the IRS still increase for 2025, but not by as much, as the rate of inflation slowed.
Source: JOA News
Read More here – HSA inflation-adjusted maximum contribution amounts for 2025 announced
The proposed regulations implement Secs. 643(i), 679, 6039F, 6048, and 6677, which were added or modified to prevent efforts by U.S. taxpayers to use foreign trusts and offshore arrangements to avoid U.S. taxes.
Source: JOA News
Read More here – Foreign trust transactions and large gifts addressed in proposed regs.
A PCAOB staff report considers the changing world of commercial real estate, offering advice for public company auditors that also applies to auditors outside of the PCAOB’s purview.
Source: JOA News
Read More here – Auditor resource: Considerations for commercial real estate
Now is the time to talk with high-net-worth clients about using the temporarily doubled estate and gift tax exclusion before its sunset in 2026, Bob Keebler, CPA/PFS, stressed in a webcast.
Source: JOA News
Read More here – Prepare large estates for TCJA sunset now
