TAX / PROFESSIONAL ISSUES
Recent court decisions, especially those involving corporate tax reserve accrual workpapers, indicate that the judicial view of the accountant-client relationship is changing and that courts may be willing to provide greater protection for communications between accountants and their clients.
PROFESSIONAL LIABILITY SPOTLIGHT
The role and responsibilities of a board member significantly differ from those of a CPA in public practice. To explore the unique responsibilities of external board members—and the exposures they face—two attorneys who defend claims against external board members and accountants were interviewed for this column.
Accounting firm partners looking to retire need to either find an internal successor or sell their practice to an external buyer. What types of deals are possible in an external sale? Find out in the seventh installment of the series “CPA Firm Succession: Solidifying the Future.”
FROM CGMA MAGAZINE
Harnessing data for strategic planning, streamlining processes, and bracing for heightened regulatory concerns are the top priorities for CFOs and the finance function, according to a recent report.
FINANCIAL REPORTING / COMPILATION
Three proposed standards were exposed for public comment by the AICPA Accounting and Review Services Committee (ARSC) on Oct. 23.
MANAGEMENT ACCOUNTING / TECHNOLOGY
Companies rarely use technology to effectively identify risks beyond those related to business and transaction processing in financial and operating system internal controls. This article provides techniques to expand the scope of an organization’s risk management processes—in a way that may help some identify hidden risks before they emerge as full-blown crises.