In Brief By now, most CPAs are aware that the SEC issued a landmark proposal that would require standardized disclosure of climate-related risks for companies,…
In Brief The demand from users for environmental, social, and governance (ESG) information has continued to grow, but standards remain under development and reporting is…
ICYMI | An Auditor’s Perspective on Smart Contracts and DAOs
Challenges and Strategies
The Public Company Accounting Oversight Board (PCAOB) Auditing Standard (AS) 1010, Training and Proficiency of the Independent Auditor, requires that audits be performed by people…
Finding the Right ESG Framework
Which Standards Setters Should You Choose?
On March 18, 2022, Wolters Kluwer's Expert Insights published “The 5 biggest hurdles to effective ESG [environmental, social, and governance] reporting.” Unsurprisingly, “multiple ESG frameworks” was…
Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
Preventing Data Breaches by Learning from Competitors
Reading the Verizon Breach Report
What's going on with competitors always comes up in conversations between CPAs and their clients. Even within companies, executive management continuously relies on financial executives…
Artificial Intelligence (AI) traces its origin to antiquity, when humans attempted to use formal reasoning to predict the future of events. Today, AI has made…
The Use of Data Analytics in Auditing
Searching for Reality within the Hype
The accounting press has heralded the growing and transformational use of data analytics in accounting—auditing in particular. A recent poll regarding top priorities for audit…
The notion of becoming a CPA never even crossed my mind as a child. When I was 3 years old, my father passed away. My…
ChatGPT for Legal and Tax Professionals
‘World-Altering Power’ Requires Kid Gloves
“The world-altering powers that technology has delivered into our hands now require a degree of consideration and foresight that has never before been asked of…
Riding the NFT Wave
A Primer for CPAs
In Brief Crypto assets represent a fast-moving asset class, and nonfungible tokens (NFT) are an especially fast-growing subset of that class, which have attracted outsized…
ICYMI | A Taxpayer Victory in a Statutory Resident Case
New York Court of Appeals Denial Finalizes a Landmark Decision
On February 9, 2023, in a major victory for the taxpayer, the New York State Court of Appeals (New York State's highest court), denied the…
ICYMI | Ensuring Business Activity Classification
Lessons from the Tax Court’s Decision in Whatley
In Brief Individuals often contend that their hobbies have a profit motive in order to obtain a more favorable tax outcome. But when such disputes…
With so much attention drifting toward the productivity of remote workers in the post–COVID-19 environment, many CFOs are overlooking the related critical tax and compliance…
ICYMI | An Inconvenient Truth about Remote Work
Connecticut’s Income-Sourcing Statute Needs Fixing
The “convenience of the employer” rule for sourcing income to a particular state is anything but convenient for tri-state taxpayers. Most states that levy an…
ICYMI | Defining a Trade or Business under Federal Tax Law
A Practical Blueprint for Long Overdue Guidance
Unlike many important terms that are defined either in the IRC or Treasury Regulations, the term “trade or business,” which comes up throughout the IRC…
About the Speaker The conference keynote was a prerecorded “fireside chat” with newly installed PCAOB chair Erica Y. Williams. Williams was sworn in as the chair of…
About the Panelists The last panel of the morning was focused on environmental, social, and governance (ESG) issues as they affect accounting, auditing, and financial…
This issue of The CPA Journal comes at a time of significant regulatory and advocacy activity. (Yes, I realize that CPAs face a seemingly never-ending pace of…
About the Panelists The first panel was focused on current developments at the SEC. Jonathan Wiggins, deputy chief accountant, Office of the Chief Accountant (OCA), SEC, served…
An Inconvenient Truth about Remote Work
Connecticut’s Income-Sourcing Statute Needs Fixing
The “convenience of the employer” rule for sourcing income to a particular state is anything but convenient for tri-state taxpayers. Most states that levy an…
Opening Remarks
A Conversation with Paul Munter and Richard Jones
About the Speakers Paul Munter was named chief accountant in the Office of the Chief Accountant (OCA) at the SEC in January; he had been serving…
ICYMI | Biden Administration’s Green Book Proposes Dramatic Estate Planning Changes
CPAs Should Consider the Potential Impact
The Biden Administration recently released its fiscal 2024 revenue proposal, which includes many dramatic changes that will affect most aspects of estate planning. The first…
Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
ICYMI | Getting Older Without Family
Addressing Personal, Legal, and Financial Concerns
The American Association of Retired Persons (AARP) projects that by 2030, approximately 16% of women will be between 80 and 84 years old and childless…
In Brief Chief financial officers of not-for-profit organizations have always faced many challenges, some common to all corporate leaders, some unique to the sector. Today's…
Most taxpayers have likely received a solicitation recently claiming that they may be entitled to thousands of dollars in employee retention tax credits. The solicitations…
In Brief The PCAOB inspects audits of registered public accounting firms and identifies deficiencies in gathering audit evidence and internal controls over financial reporting and…
As CPAs advise their nonprofit clients on strategies for 2023, it is imperative to understand the top technology trends that will affect the sector this…
In Brief There are two paradigm shifts affecting businesses today. These two shifts are diversity, equity, and inclusion (DEI) issues and environmental, social, and governance…