News

The board that oversees audits of public companies proposed six goals in a draft of its 2026–2030 strategic plan.

While more than 9 in 10 senior finance leaders in a recent survey said they’re under career pressure to demonstrate a return on agentic AI investment, the ROI may be slowed by an emphasis on speed above all.

The social media post that looks like a flop may actually result in a new client. Small firms should value authentic engagement over likes and follows, two ENGAGE presenters contend.

The proposal would allow issuers, broker-dealers, investment advisers, and others to deliver information to investors electronically without first obtaining affirmative consent.

The midyear change follows an increase in gasoline prices, according to the IRS. It is the first such midyear adjustment since 2022.

PEEC finalized revisions to the AICPA’s independence guidance for tax services, maintaining a principles-based framework for evaluating independence threats when providing tax advisory and planning services to attest clients.

SAS No. 150, External Confirmations, published Monday following an AICPA Auditing Standards Board vote in May, is designed to address today’s digitally driven environment.

The final regulations target arrangements that the IRS says improperly use charitable remainder annuity trusts and annuities to eliminate ordinary income and capital gain on the sale of property.

Under the new system, eligible taxpayers will no longer have to request penalty relief that the IRS says is routinely granted.

More than 80% of attendees in a recent ENGAGE session reported they’ve had at least one client compromised by a financial scam. The presenter explains how CPAs can be “fraud gatekeepers” before, during, and after an incident.

Certain taxpayers with IRS online accounts can file a Kwong-related refund claim on Form 843 through a new secure application before a Friday deadline.

Registered public accounting firms are invited to request staff views on the implementation of PCAOB standards, with the option to launch a more formal firm consultation.

FASB published a proposed Accounting Standards Update to improve investment company financial reporting by amending how investment companies measure the fair value of an equity security that is subject to a contractual sale restriction.

The request follows reports from taxpayers who said they received notices despite not expecting a refund or having already provided direct deposit information.

The guidance sets forth conditions for contributions to qualify for the annual gift tax exclusion and for donors to avoid filing gift tax returns.

While an increasing number of large U.S. companies turned to audit firms for assurance of sustainability data in 2024, a gap persists with the rest of the world, an annual report shows.

The IRS warned that AI’s risks — including fabricated outputs and data privacy concerns — require practitioners to verify results and follow existing Circular 230 rules on diligence, competence, and confidentiality.

The PCAOB seeks public comment on future areas of focus for standard setting, building on the dialogue initiated earlier this year.

The national taxpayer advocate’s Fiscal Year 2027 Objectives Report to Congress says the IRS processed about 139 million returns and handled most refunds smoothly but says the story was different for taxpayers who needed help from a human being.

The Supreme Court declined to hear an appeal of the Third Circuit’s decision in Murrin, in which the court held that taxpayer intent is not required for the unlimited period for assessing tax under Sec. 6501(c)(1) to apply.