2025 AICPA Spring Council
From future-focused strategy to real-time advocacy, the 2025 AICPA Spring Council was a dynamic experience filled with bold ideas and impactful conversations.
Proposed ASB 2026-2030 Strategic Plan
On March 14, 2025, the ASB released its Proposed Strategic Plan for 2026–2030, building on the success of its 2021–2025 plan. The new proposal outlines incremental updates aligned with its public interest mission, addressing key challenges, opportunities, and strategic initiatives for the future.
Proposed SAS – External Confirmations
The AICPA’s Auditing Standards Board is proposing changes to external confirmations. The standard clarifies what qualifies as an external confirmation and adds new requirements around the confirmation of cash and cash equivalents. Comments are due to the ASB by June 30, 2025.
Private Equity & the Profession: PEEC’s Proposed Independence Guidance
The AICPA’s Professional Ethics Executive Committee (PEEC) has issued a discussion memorandum to gather feedback on alternative practice structures, including those with private equity investments, and impacts on independence.
Severe Financial Stress & Probable Dissolution Disclosures PV
On March 19, 2025, GASB released its Preliminary Views on Severe Financial Stress and Probable Dissolution Disclosures, introducing significant changes to how financial statement users are informed about risks to a government’s financial condition and legal existence.
Exposure Draft: SSAE Section 210
On February 25th, 2025, the AICPA issued Proposed SSAE: Scope Limitations in a Review Engagement.
Invitation to Comment on Intangible Assets
The FASB is asking a big question: Should we rethink how we recognize intangibles on the balance sheet? In its newly released Invitation to Comment: Recognition of Intangibles, the Board explores whether current GAAP adequately reflects today’s innovation-driven business models—especially when it comes to internally developed assets like R&D, software, and brand value.
TQA Opinion Unit
On November 19, 2024, Technical Q&A 6950.25 was issued, offering key guidance on how auditors should approach opinion unit classification when a governmental fund is reclassified from major to nonmajor under GASB Statement No. 100.
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