GAO COVID Report

GAO COVID Report

GAO has issued two COVID fraud related reports. This week’s blog looks at the first one which focuses on some of the insights and lessons learned from the fraud in the COVID-19 response. GAO has made both Congressional as well as agency recommendations to help prevent similar fraud in the future.

Proposed Peer Review Standards Update No. 2

Proposed Peer Review Standards Update No. 2

The AICPA is proposing changes to the peer review standards. This update includes proposed changes for quality management with effective dates that would tie to the QM implementation. But there are other changes that are also included referred to as Omnibus changes that will be implemented earlier. Due to the release in November, the AICPA has provided a longer comment period with comments due May 2024.

2023 National Management of an Accounting Practice (MAP) Survey

2023 National Management of an Accounting Practice (MAP) Survey

The AICPA has released their 2023 National Management of an Accounting Practice (MAP) Survey Executive Summary. This summary can help firms benchmark themselves against the industry and see trends. Over 1100 firms participated in helping to understand trends in compensation and fees. The AICPA releases median information so firms can see where they fit in the big picture.

X