In Brief Of the many kinds of technologies that professionals have encountered in recent years, artificial intelligence (AI) presents perhaps the greatest challenge. CPAs that…
Demystifying ‘DeFi’
Tax Compliance for Individuals Engaging in Decentralized Finance Transactions
Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without the need for third-party intermediaries or financial institutions. Although…
Robotic Process Automation (RPA) continues to proliferate in organizations. Responding to governance challenges and impacts on financial reporting, the Committee of Sponsoring Organizations of the…
Automating Data Analysis with Python Dashboards
A Beginner-Friendly Approach for CPAs
In today's data-rich environment, business are always looking for a way to capitalize on available data for new insights and increased efficiencies. Given the escalating…
How Artificial Intelligence May Impact the Accounting Profession
Testing ChatGPT in Common Scenarios
In Brief The rising popularity of artificial intelligence (AI) has made many CPAs feel unsure about the ways in which their profession may be affected.…
In Brief Of the many kinds of technologies that professionals have encountered in recent years, artificial intelligence (AI) presents perhaps the greatest challenge. CPAs that…
The SEC Finalizes Rule on Cybersecurity Disclosures
Increased Documentation, Disclosure, and Transparency
In Brief The SEC's new cybersecurity rules require public companies to promptly disclose cybersecurity incidents and detail their risk management strategies. These rules mandate reporting…
The Next Chapter of AI Empowerment
What CPAs Need to Know About Generative AI
In Brief While still in the early stages of its development, generative artificial intelligence (GenAI) shows promise in empowering professionals by helping them recognize patterns…
Demystifying ‘DeFi’
Tax Compliance for Individuals Engaging in Decentralized Finance Transactions
Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without the need for third-party intermediaries or financial institutions. Although…
Many CPAs who represent notfor-profit clients and serve on not-for-profit boards may be interested in a web page created by the National Council of Nonprofits,…
Metrics or Maturities
Gauging Cyber Performance
Many corporate executives continually question and analyze their business practices to achieve their goals more effectively and efficiently. Not surprisingly, cybersecurity remains an item of…
Demystifying ‘DeFi’
Tax Compliance for Individuals Engaging in Decentralized Finance Transactions
Decentralized finance (DeFi) is an emerging peer-to-peer system for conducting financial activity on the blockchain without the need for third-party intermediaries or financial institutions. Although…
CPA firms can utilize the many excellent tools and services available to create a strong online presence, such as professional website design and management, website…
When students decide to major in accounting, marketing is not at the top of their minds. While accounting students are likely required to take a…
CPA firms can utilize the many excellent tools and services available to create a strong online presence, such as professional website design and management, website…
CPA firms can utilize the many excellent tools and services available to create a strong online presence, such as professional website design and management, website…
The accounting profession is built on trust, precision, and compliance—qualities that CPAs pride themselves on. But CPAs are increasingly finding themselves at the intersection of…
Data breaches and resultant identity theft can happen to anyone. The National Institute of Standards and Technology (NIST) defines identity theft and identity fraud as…
When students decide to major in accounting, marketing is not at the top of their minds. While accounting students are likely required to take a…
Auditing Cryptocurrency Companies
Risky Business in a Volatile Industry
In Brief Recent events in the cryptocurrency industry highlight the risks for investors and customers—as well as auditors. This article summarizes the international, U.S. GAAP,…
Technology’s Role in Expanding the Pipeline to the Profession
Would Pursuing the STEM Designation Help?
In Brief Many accounting leaders and observers have pointed out the need to expand the pipeline to the profession and suggested ways this could be…
It's been a year since the AICPA and NASBA's CPA Evolution Initiative launched, and the AICPA and NASBA offer some excellent free resources on their…
While appreciating the impact on cybersecurity and business resiliency, organizations continue to confront patch management challenges. Typically, organizations include patch management activities within their vulnerability…
Technology’s Role in Expanding the Pipeline to the Profession
Would Pursuing the STEM Designation Help?
In Brief Many accounting leaders and observers have pointed out the need to expand the pipeline to the profession and suggested ways this could be…
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…
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…
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…
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…
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…