News

The amount of turnover among CFO seats at big U.S. companies increased last year, along with company preference for promoting from within. An executive search firm’s annual report tracks the hiring trends.

The update allows firms that serve larger numbers of taxpayers to manage centralized authorization file access, view client information, and streamline authorizations online.

The AICPA told Treasury that Notice 2025 75’s “determine and document” requirement is “ambiguous and potentially onerous” and urges replacing it with a simple safe harbor or eliminating it.

Accuracy concerns mean finance leaders still rely on their teams to validate AI outputs, even as agentic AI shows potential to free up more time for strategic work, according to a new report.

A bill introduced in the Senate would expand student awareness and access to educational opportunities in accounting via the technology portion of the science, technology, engineering, and math program.

Just over 100 business associations asked Treasury Secretary Scott Bessent to purge previously submitted beneficial ownership information records and quickly finalize a rule exempting U.S. companies from BOI reporting.

The notice of proposed rulemaking states that the exclusion of certain degree programs, including accounting, from the definition “does not reflect a value judgment” but rather serves as a technical term to define levels of federal student loan limits. An AICPA statement expressed appreciation for the “recognition of the broad definition and various aspects of the word ‘professional.’”

The SEC appointed a retired EY partner as chair to “usher in a new day at the PCAOB.”

The AICPA project will collect extensive data, beginning with a survey live now, that will support the development of resources to help employers, academics, and early-career professionals navigate a rapidly evolving workplace.

Treasury posted a lapsed appropriations contingency plan late last week that calls for the IRS to be fully staffed through Friday during the partial government shutdown.

Separate reports from two federal oversight bodies warn that the IRS may struggle to maintain service levels between now and April 15, possibly causing delays in tax refunds and in getting answers by phone.

The IRS extended the deadline for SECURE 2.0 related amendments to IRAs, SEPs, and SIMPLE IRAs to Dec. 31, 2027, saying that additional time is needed to complete model language.

An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act rules apply, including for federal employees.

As audit committees get down to business, they face risks related to technology but also can empower their organizations to use technology as a tool to fight fraud.

National Student Clearinghouse data reveals a 7.3% year-over-year increase for the fall semester, more than six times the increase across all majors.

The Harris Poll, conducted on behalf of the AICPA, found that most Americans have financial goals, with saving money as the top one.

In its annual report, IRSAC said the IRS has been through “an extraordinarily difficult year” with budget and staff cuts while preparing for numerous tax law changes. The report also noted tax practitioners’ prolonged wait times when contacting the IRS.

The AICPA’s Tax Division volunteer committees and technical resource panels can point to many positive results last year from its advocacy to Treasury, the IRS, and Congress for law changes and administrative guidance.

The AICPA also released survey results showing that 81% of Americans support an annual fiscal report to Congress.

Organizations are capturing speed through AI, but much of the reclaimed time is spent correcting or rewriting low-quality AI output, a global report says.