FASB & AICPA Issue Annual Reports
Both the FASB & AICPA are nonprofit organizations that make their financial statements available to the public. Both organizations also have a December fiscal year end which means they both recently issued their annual reports. This blog will introduce you to the...
IFR4NPO ED3
The International Financial Reporting for Nonprofit Organizations (IFR4NPO) has issued the last of its 3 exposure drafts intended to create the world’s first internationally applicable financial reporting guidance for nonprofits. ED1 was issued in 2022 and ED2 was...
2023 Enhancing Audit Quality Report
Through the Enhancing Audit Quality initiative, the AICPA promotes high quality auditing and assurance, with a focus on subject matter that has created challenges for practitioners. According to the 2023 Enhancing Audit Quality (EAQ) Report, the AICPA's areas of focus...
Proposed Ethics Interpretation on Recruiting
The AICPA’s Professional Ethics Executive Committee (PEEC) has issued another proposed interpretation, this one addressing recruiting as a nonattest service. The proposal provides updated guidance on the threats to independence as part of the AICPA’s IESBA convergence project. Comments are due September 10th.
Ethics Proposal: Tax Services
The AICPA’s Professional Ethics Executive Committee (PEEC) is proposing changes to the tax services rules with respect to independence. As part of their IESBA convergence, the rules address the potential advocacy threats created by providing tax advisory services to attest clients. Comments are due by September 10, 2024.
Proposal: CECL & Programmatic Investments
The AICPA has released a proposal of Chapter 8 of the Not-for-Profit A&A Guide on Programmatic Investments. The chapter provides context as to the impact of CECL on programmatic investments including examples. Comments are due July 12, 2024.Check out our CPE...
2024 AICPA Spring Council
This week the AICPA Council met in Orlando, Florida. This blog will give an overview of the topics discussed along with key highlights from the meeting including the inauguration of the 111th Chair of the AICPA, Carla McCall!Check out our CPE webcasts for more great...
PCAOB – Auditor Use of Data and Reports
This week’s blog provides an overview of a recently issued PCAOB Spotlight that can help firms with evaluating audit evidence. While the report is issued by the PCAOB, many of the insights also apply to private companies.
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