The first panel of the conference, “Regulators and Standard Setters: Updates and Panel Discussion,” featured presentations and discussion on current topics in auditing standards and…
My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…
Critical Audit Matter Reporting
A Comparison of Years 1 through 3
In Brief It has been suggested that the recent introduction of Critical Audit Matters (CAM) to audit reports represents the most significant change to reporting…
Reassessing the Erroneous Refund Penalty
The IRS Flexes an Obscure Authority
Under IRC section 6676, the IRS has the authority to assess penalties against taxpayers for making erroneous claims for refund or credit. In a 2013…
PCAOB Chair Keynote Session
Fireside Chat with Erica Y. Williams
About The Speaker The keynote speaker at the conference was PCAOB Chair Erica Y. Williams. Williams was sworn in as the chair in January 2022, coming from…
ICYMI | The Exodus from New York due to COVID-19
Income Tax Residency Considerations
The coronavirus (COVID-19) pandemic has significantly impacted nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local taxation. (Please see…
In Brief Public health measures taken to mitigate the spread of the coronavirus (COVID-19) pandemic have upended business operations and processes. Auditing is no exception;…
Machine learning is an increasingly familiar technology term that encompasses a broad range of applications. Machine learning can enable businesses to sift through large amounts…
ICYMI | What to Do About Estate Planning Now
Contemplating the Impact of Proposed Legislation
The past year was a wild one for estate planning, as high-net-worth individuals raced to complete planning before the end of the year, not knowing…
ICYMI | When Will We Be Able to Breathe in Accounting?
Provoking an Honest Conversation about Race and Racism in the Profession
“I can't breathe.” Three words seared into the minds of Black and Brown people in the United States and the world over. We heard George…
The liquidation of a partner's entire partnership interest can take various forms, including payment made by the partnership to the retiring partner in complete redemption…
Does the future look bright for accounting majors? In its 2017 report of accounting enrollment and hiring trends in the public accounting sector, the AICPA's…
In Brief: Nonprofit organizations may not have to maximize profits in order to satisfy the expectations of shareholders, but they still must remain financially healthy…
In Brief Not-for-profit organizations receive financial donations as a matter of course, but the accounting for that revenue depends on whether the transaction is classified…
ICYMI—The Reporting Impact of ASU 2016-14
Painting the Picture from a Nonprofit’s Financial Perspective
In Brief The nonprofit landscape has changed significantly over the past 26 years, expanding in size and scope while facing new challenges and keeping up…