CPA Never under estimate the value
The latest data from research by the International Federation of Accountants, the AICPA, and CIMA reveals that nearly three-fourths of the largest global companies obtained assurance of sustainability disclosures in 2023, with the majority depending on audit firms. U.S. companies rank ahead of the pack when it comes to obtaining assurance but behind the pack when it comes to depending on audit firms.
FASB published an Accounting Standards Update that is intended to improve the requirements for identifying the accounting acquirer in FASB ASC Topic 805, Business Combinations.
The IRS lost 11% of its staff in the first three months of 2025, with revenue agents who conduct audits accounting for the largest percentage of those who left, the Treasury Inspector General for Tax Administration said in a report.
Master’s in accounting applications in the United States hit a five-year high. Interest globally is also rising, according to a survey of nearly 300 business schools.
In a letter to the IRS, the AICPA recommended that the agency provide further guidance in two areas of new instructions for Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent.
Rev. Proc. 2025-19 also includes the revised maximum amount that may be made newly available for excepted-benefit health reimbursement arrangements.
FASB published a proposed Accounting Standards Update on debt exchange transactions involving multiple creditors.
