NEWS

December 16, 2014

Congress passes tax extender legislation

Included in the extended provisions are the research and development credit, bonus depreciation and higher limits under Sec. 179. The bill now goes to the president for his signature.

December 15, 2014

Evolving practice monitoring to improve quality in A&A engagements

In a new concept of practice monitoring the AICPA envisions for the future, peer reviewers and firms will use a new technology platform to enable more thorough analysis and provide more timely feedback for accounting, auditing and attestation engagements.

December 9, 2014

Would companies use voluntary, additive IFRS option?

SEC Chief Accountant James Schnurr’s idea for possibly allowing voluntary, supplemental IFRS information in U.S. GAAP financial statements has accountants wondering: Would companies actually bear the costs to take the option?

December 4, 2014

7 risk areas for the 2014 audit cycle

Revenue recognition and internal control over financial reporting are among the key risk factors in the 2014 audit cycle, according to an alert by the Center for Audit Quality (CAQ). The alert details seven key areas of potential risk in auditors’ work.

December 4, 2014

FAF, FASB, and GASB release draft strategic plan

The Financial Accounting Foundation, the Financial Accounting Standards Board, and the Governmental Accounting Standards Board released a new joint strategic plan that spells out the organizations’ vision and mission.

December 4, 2014

U.S. economy on a roll, according to survey of finance executives

Economic optimism is up from a year ago, led by brighter projections in revenue, profits, and hiring, according to the latest quarterly survey of finance executives in business and industry by the AICPA. Availability of skilled personnel is a rising concern.

November 25, 2014

PCAOB may soon require naming of engagement partner

PCAOB Chairman James Doty hopes the board will complete a standard early next year that will require the naming of the engagement partner and other firms participating in U.S. public company audits.

PROFESSIONAL DEVELOPMENT: EARLY CAREER

Making manager: The key to accelerating your career

Being promoted to manager is a key development in a young public accountant’s career. Here’s what CPAs need to learn to land that promotion.

PROFESSIONAL DEVELOPMENT: MIDDLE CAREER

Motivation and preparation can pave the path to CFO

CPAs in business and industry face intense competition to land a coveted CFO job. Learn how to best prepare yourself for the role.

PROFESSIONAL DEVELOPMENT: LATE CAREER

Second act: Consulting

CPAs are using experience to carve out late-career niches. Learn how to successfully make a late-career transition to consulting, from CPAs who have done it.