IRS Reminds Tax-Exempt Organizations of May 16 Filing Deadline
The IRS recently issued a press release reminding tax-exempt organizations that many have a filing deadline of May 16, 2022.
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FASB Proposes Updates to Reference Rate Reform Guidance
The Financial Accounting Standards Board recently issued a proposed Accounting Standards Update regarding two issues related to reference rate reform.
View MorePCAOB Issues New Requirements on Auditing Accounting Estimates, Specialists
The Public Company Accounting Oversight Board recently issued new requirements for auditing accounting estimates and fair value measurements and using the work of specialists.
View MoreSingle Audit Relief Granted to Certain Governments with Treasury COVID-19 Funding
The AICPA Governmental Audit Quality Center recently issued GAQC Alert No. 439, stating that relief from single audit requirements has been granted for some small governments that have not previously been required to undergo a single audit but would have needed one due to receiving U.S. Treasury Coronavirus State and Local Fiscal Recovery Funds program funding.
View MoreFASB Issues Standard Addressing Troubled Debt Restructurings, Vintage Disclosures
The Financial Accounting Standards Board recently issued an Accounting Standards Update intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings and writeoffs.
View MoreFASB Issues Expanded Hedge Accounting Standard
The Financial Accounting Standards Board recently issued an Accounting Standards Update intended to better align hedge accounting with an organization’s risk management strategies.
View MoreIRS Proposes Unified Plan Rule Exception for Multiple-Employer Plans
The IRS recently released proposed regulations regarding multiple-employer plans.
View MoreAICPA Auditing Standards Board Proposes Standard to Improve Group Audit Quality
The AICPA Auditing Standards Board is proposing a new Statement on Auditing Standards intended to enhance the quality of group audits.
View MoreSEC Accepts 2022 GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy
The FASB recently announced that the SEC has accepted the 2022 GAAP Financial Reporting Taxonomy and the 2022 SEC Reporting Taxonomy. The FASB also finalized the 2022 DQC Rules Taxonomy.
View MoreAICPA Provides Guidance on Peer Reviews of Firms That Perform SEC-Registered Broker-Dealer Audits
For peer reviews commencing on or after July 1, 2021, audits and the related compliance and exemption engagements for SEC-registered broker-dealers are no longer included in the scope of peer review; however, there is still an impact on peer reviews of firms that perform these types of engagements.
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