By: Dr. Amelia Hart, CPA, and Steve Sledge, CPA In 2022, the Tennessee CPA Journal reported on the newly released quality management standards (QMS).1 Today, with the effective date approaching, we provide important reminders and a discussion of (and reference to) some helpful resources for sole practitioners, small to medium firms, and other stakeholders. Quality management […]
By: Karen C. Miller, Ph.D., CPA; Santhosh Abraham, Ph.D.; and Danielle Brannock, CPA, CSPO While the use of data visualizations may not be new, it can be a revolutionary tool for internal auditors. Even Albert Einstein (1879-1955) noted, “My particular ability does not lie in mathematical calculation, but rather in visualizing effects, possibilities and consequences.” Looking back
Data Visualization: Enhancing Audits Through Increased Engagement Read More »
By: Rick Meyer, CPA, MBA, MST “HAL, do a research and development (R&D) study.” Do you remember HAL 9000 or simply HAL? He was the iconic artificial general intelligence character in the 1968 film, “2001: A Space Odyssey.” For young folks, you might think of him as the predecessor to R2-D2, C-3PO or any other
Using AI for an R&D Study? Read More »
By: Dr. Amelia Hart, CPA, and Steve Sledge, CPA In line with the timeline in its evolving technical agenda, FASB has recently completed the proposal of several Accounting Standards Updates (ASUs). This article sheds some light on proposed ASUs released during the latter half of 2024 that readers should be aware of as we begin
Reviewing Proposed ASUs as We Begin 2025 Read More »
https://www.fasb.org/news-and-meetings/in-the-news/fasb-clarifies-interim-effective-date-for-new-disaggregation-of-income-statement-expenses-standard-for-non-calendar-year-end-entities-420531
https://www.journalofaccountancy.com/news/2024/dec/peec-issues-recruiting-guidance-exposure-draft-on-simultaneous-employment.html
PEEC issues recruiting guidance, exposure draft on simultaneous employment Read More »
https://www.fasb.org/news-and-meetings/in-the-news/fasb-issues-standard-that-improves-accounting-guidance-for-induced-conversions-of-convertible-debt-instruments-420176
https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-adopts-new-requirements-to-standardize-disclosure-of-firm-and-engagement-metrics-and-to-modernize-the-pcaob-s-reporting-framework
By: Josef Rashty, CPA In March 2024, the SEC adopted its new climate-related disclosure rules (hereinafter, rules) for public business entities (PBEs).1 The rules require a comprehensive discussion of material climate-related risks, identification of climate-related goals, and related greenhouse gas (GHG) emissions. The rules have substantive requirements similar to those in the Task Force on Climate-related
SEC’s New Promulgation on Climate-Related Disclosure Rules Read More »