Accounting

The AICPA issued a new interpretation to clarify a permissible reporting convention when a review is performed in accordance with the SSARSs and with another set of review standards.

The IRS released its annual list of the “dirty dozen” worst tax scams, starting with identity theft and winding up with frivolous tax arguments.

Many internal audit departments are short on cybersecurity expertise and lack involvement in evaluating the quality of the data used in their organizations, according to a new survey.

Hans Hoogervorst will serve a second five-year term as chairman of the International Accounting Standards Board.

FASB affirmed narrow-scope changes and practical expedients to its revenue recognition standard this week on issues including collectibility, contract modifications, and completed contracts at transition.

The IRS further postponed the due date for the new reporting requirement, under which estates must report the value of estate assets to the IRS and to beneficiaries.

Thursday, the Senate approved a bill making the Internet Tax Freedom Act’s ban on state and local taxes on internet access permanent.

GASB issued a standard that is intended to clarify how certain component units incorporated as not-for-profit corporations should be presented in state or local government financial statements.

Just a little over half of young couples discuss their saving and spending habits or have a monthly budget, while just 4 in 10 have talked about their long-term financial plans.

The “fly-in” was intended to highlight dissatisfaction by practitioners and taxpayers with the IRS’s admittedly unacceptable levels of service and CPAs’ potential role in improving the IRS in that and other ways.