In Brief While the use of sustainability reporting has grown in the United States in the absence of a legal mandate and as a result…
Many CPAs are already familiar with artificial intelligence (AI) tools through the use of accounting and tax-related database tools such as the FASB Accounting Standards…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Nonfungible tokens (NFT) are virtual records of ownership of either physical assets or digital assets, such as digital artwork, concert tickets, or access to games.…
Sustainability and ESG Reporting Opportunities and Challenges
Insights from Germany
Sustainability and environmental, social, and governance (ESG) reporting have grown in scope and importance for several years. This article discusses opportunities and challenges for the…
Artificial intelligence (AI) is not a philosophical discussion, business dream, or science fiction for CPAs—whether they are risk managers, auditors, or financial executives. Unlike many…
Embrace but Verify
Using AI to Analyze Financial Statements
Artificial Intelligence (AI) platforms, specifically Large Language Models (LLM), have been around for many years but have only recently been made available to the public…
Improving Audits of Larger Governmental Entities and Employee Benefit Plans
Is Self-Regulation Enough?
Peer reviews help to improve the quality of financial statement audits and other attestation services. Assessing the root causes of peer review comments and then…
In December 2023, FASB issued ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60). This final guidance requires all entities to measure certain crypto assets they…
Note from Column Editor Tracey J. Niemotko: Alexis Colucci was an accounting major who completed her Master of Science in Professional Accountancy degree at Marist College…
Sustainability Reporting and the Greenwashing Challenge
Can the New International Sustainability Disclosure and Assurance Standards Eliminate Greenwashing?
In Brief While the use of sustainability reporting has grown in the United States in the absence of a legal mandate and as a result…
On March 6, 2024, the SEC issued its long-awaited rule aimed at standardized climate-related disclosure for U.S. regis-trants (https://www.sec.gov/newsroom/press-releases/2024-31). One element of this rule would…
How Did the Lack of Crypto Industry-Specific Accounting Contribute to Financial Instability
Looking for the Hidden Risks
In Brief Excessive leverage, deficient collateral, volatile pricing, and a liquidity crunch contributed to the downfall of several crypto lenders, hedge funds, and exchanges in…
SALT Round-Up—Current Developments in Key Jurisdictions
Looking at New York, Tennessee, Virginia
CPAs need to be aware of current tax developments in key states to properly advise employers and clients doing business in multiple jurisdictions. As state…
Mandatory Sustainability Metrics Reporting Has Arrived in America, via Europe
Getting Familiar with the EU’s Corporate Sustainability Reporting Directive
In Brief Sustainability reporting in the United States has traditionally been guided by a variety of voluntary standards and frameworks. But such reporting will soon…
Welcome to a time of significant transformation in the accounting profession! As this issue goes to press, generational conversations are happening. An exposure draft of…
The Double-Edged Sword of Generative AI
Risks and Opportunities in Accounting Cybersecurity
In Brief It is critical that accounting professionals understand the crucial role Generative Artificial Intelligence (Gen AI) plays in reshaping cybersecurity considerations. The threats Gen…
The New Administrative Law
Overview of the Potential Impact of Loper Bright and Corner Post on Tax Cases
In a landmark term for administrative law, the Supreme Court issued two opinions earlier this summer that will have significant implications for future litigation regarding…
In Brief Despite the headwinds generated by a growing anti-ESG movement, activists, stakeholders, NGOs, and other influencers are escalating their pressure on businesses and financiers…