In Brief The risk of fraud or noncompliance with rules and regulations is ever present in the current business and legal environment. Managing this risk…
Since 1973, GAAP (APB Opinion 28) has recognized the acceptability of presenting condensed interim information by public companies as provided for in Article 10 of…
The Lawyer's duty is first of all to his client, and that duty frequently compels him to avail himself of technicalities and other means of…
In Brief The Tax Cuts and Jobs Act of 2017 (TCJA) is generally considered the most significant tax legislation since the Tax Reform Act of…
ICYMI | The Status of the ‘Marriage Penalty’
An Update from the Tax Cuts and Jobs Act
One of the objectives behind a progressive income tax structure is to achieve a redistribution of wealth by imposing higher taxes on those who earn…
ICYMI | The Taxation of Cryptocurrency
Virtual Transactions Bring Real-Life Tax Implications
Bitcoin and several rival forms of cryptocurrency experienced record-breaking growth in recent years, leaving many investors and their CPAs grappling with uncertainty and surprise during…
In Brief One of the most discussed changes in the Tax Cuts and Jobs Act of 2017 is the pass-through entity deduction created by the…
What made me want to become a CPA? Well, I have to acknowledge that the 18-year-old me was neither wise nor worldly. When I matriculated…
Technology Touchstones for 2020
Increase Security and Monitor Activity
When hackers attack a CPA firm, it can impact the firm's data, but more importantly, it can expose clients' sensitive financial data. A business's ability…
One of the most challenging issues facing leaders in the public accounting profession is the high rate of employee turnover. A recent survey finds that…
Do you think about opening your own CPA practice and working for yourself instead of working for others? If so, you're not alone. While women…
ICYMI | Improving the Advancement and Retention of Women CPAs
Fostering Gender Equality at One Accounting Firm
According to the 2017 CPA Firm Gender Study performed by the AICPA's Women's Initiatives Executive Committee (WIEC), women make up only 22% of partners in…
In 2015, the Department of Labor issued an audit quality study, “Assessing the Quality of Employee Benefit Plan Audits,” which concluded that 39% of audits…
Many articles have been written about how the changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) will affect estate planning. These…
Under Internal Revenue Code (IRC) section 7216 and its concomitant regulations, a tax preparer must obtain the consent of a taxpayer before disclosing or using…
In Brief Deciding whether a traditional individual retirement account (IRA) or a Roth IRA is the better investment vehicle can be a more complex choice…
As of October 21, 33 states and the District of Columbia have allowed the use of medical marijuana. In addition, recreational marijuana is legalized in…
Every year on October 15, clients send this author's firm information late into the afternoon, expecting the CPAs to finish their individual tax returns by…
ICYMI | Student Perceptions of What It Means to Be a Professional
A Survey of Domestic and International Accounting Majors
In Brief CPAs are often called “the trusted professionals,” but what this means is often open to interpretation. Do international and domestic accounting students share…
The Tax Cuts and Jobs Act of 2017 (TCJA) made dramatic changes to the rules for individuals that affect tax planning at all stages of…
I particularly enjoyed Mark Nickerson's article on fraud possibilities in your annual technology issue (“Fraud in a World of Advanced Technologies,” June 2019, http://bit.ly/2LJedBZ). I wager…
Although audit practice has been improved over the last 30 years by the incorporation of office software such as Microsoft Excel and Word, working paper…
A previous column discussed the value of data, how it is monetized by bad actors, and how executives typically do not understand the answer to…
The advertising industry has recently earned its place in corporate infamy, as several well-publicized disagreements between the largest agencies in the business and their clients…
The COSO Internal Control Framework and Sustainability Reporting
The Benefits of Good Governance and Internal Controls
In Brief Even as corporate reporting of sustainability information continues to gain in popularity, the practice still is not standardized, either domestically or globally. While…
The Volkswagen Diesel Emissions Scandal and Accountability
Where Were the Auditors and Attorneys during the Sustainability Charade?
In Brief The effects of corporate scandals can reverberate for years. Volkswagen, whose conspiracy to hide the emissions of its diesel engine vehicles was first…
Recently, The CPA Journal interviewed Joseph DioGuardi, the first practicing CPA elected to Congress, representing New York's 20th Congressional district from 1985 to 1989. DioGuardi is currently…
Technology pervades virtually every aspect of modern American society, including the courtrooms. When technology is sound and used properly, it can yield fantastic results, improving…
Meeting the Challenge of Artificial Intelligence
What CPAs Need to Know
The rapid advance of technology has resulted in CPA firms hiring more nonaccounting graduates in order to integrate new tools into their practice. For example,…
Fraud in a World of Advanced Technologies
The Possibilities are (Unfortunately) Endless
In Brief For many years, internal controls have been the focus of auditors' risk assessment as they seek to attest that the control environment is…