CPAs in all areas of practice encounter client screening, acceptance, and termination (CSAT) scenarios daily. CSAT is without a doubt the first line of defense…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Governance, risk management, and compliance (GRC) represents a coordinated approach to achieve efficiencies in an organization's activities of corporate governance, risk management, and compliance with…
As CPAs, our raison d'être is to protect the public, to help instill trust and confidence in our corporate and public institutions. We are the…
One hundred and eighteen years ago, the New York State Society of CPAs held its first annual meeting. Back then, this was a relatively small…
IRS Schedule UTP and the Legal Privileges of Tax Accrual Workpapers
Understanding the Risks for Auditors
The implementation of the Schedule UTP contributes perhaps the most significant increase in tax reporting in recent memory and will greatly affect the Service's audits…
CPAs often seek reliable information about 401(k) plan design, investment options, record keeping, and fees. The “BrightScope/ICI Defined Contribution Plan Profile: A Close Look at…
More than 2.1 million couples get married in the U.S. each year (http://www.cdc.gov/nchs/nvss/marriage_divorce_tables.htm). Few probably give any thought to the tax implications of their union.…
Many tax professionals who consult on transactions involving the sale of a New York business operation often overlook the state's bulk sale notification requirements, which…
FASB’s Proposal to Change the Definition of Materiality
The Unexpected Uproar
In September 2015, FASB issued two proposed documents that, if adopted, could change the way the concept of materiality is assessed and applied regarding information…
Trends in SEC Enforcement
What CPAs Need to Know
In Brief With the SEC's enforcement of laws against fraud and other financial wrongdoing at its highest in recent memory, CPAs must be vigilant in…
Today’s Fraud Risk Models Lack Personality
Auditing with ‘Dark Triad’ Individuals in the Executive Ranks
In Brief Recent behavioral science research on abnormal personality types may have a major impact on the practice of auditing. This article discusses the possible…
Using Network Analysis to Detect Collusive Fraud
Could Notorious Fraudsters Have Been Caught in the Act?
Collusion takes place when management, employees, or third parties work together to conceal fraud, thereby defeating the internal controls and rendering them ineffective. Analysis of…
How to Avoid Running Afoul of the SEC
Part 2: The Internal Controls Cases
In Brief In early 2014, the SEC's enforcement director said that the agency's investigators “were planning to pursue some internal control-related cases,” noting that this…