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.

NOCLAR with ERTC

NOCLAR with ERTC

On July 21, the Office of Chief Counsel at the IRS issued a memorandum to address noncompliance with ERTCs. The memorandum provides responses to various scenarios that employers have been trying to make to qualify as “eligible employers”. Companies have been trying to take advantage of supply chain disruptions during the pandemic to receive tax credits, even though they might not be eligible to receive tax credits. This problem has been placing auditors in uncomfortable situations, as auditors now need to consider NOCLAR with ERTCs as well as revenue recognition issues.