Foreign financial accounts serve many entirely legitimate purposes for US taxpayers, from diversification of wealth to the ...

Professional independence is required for CPAs performing financial statement attest services, whether the client company is privately held or publicly traded. In both circumstances, CPAs are ...

Concerns regarding litigation over excessive 401(k) plan fees and conflicts of interest dominate the current thinking of plan fiduciaries. More plan sponsors are engaged in plan cost reviews to ...

Both FASB and the IASB recently issued exposure drafts related to supplier finance programs (SFP). The exposure drafts were issued in response to requests for greater transparency in financial ...

The evolution of organizational governance and board of directors’ responsibilities continues. In recent years, the actions of shareholder activists’ groups, securities regulators, and courts, as well ...

The recent U.S. inflation measures show that high prices have not departed yet—and they continue to fuel an affordability crisis in critical sectors like healthcare, housing, food, and education. For ...

Around the turn of the century, the largest public accounting firms featured fast-growing advisory services divisions. Tension within these firms, and stricter regulations in the form of the ...

One contributing factor to the decline in CPA candidates is the perception that the certification process is overly demanding. Overall, practice is governed by boards of accountancy in 55 ...

Minimizing and mitigating fraud risks has evolved over the years, and this progress can be seen in the pages of The CPA Journal itself. The authors of the current article revisit a number of previous ...

It has been nearly two decades since the creation of the PCAOB in response to a series of major financial reporting failures. But today, some have questioned the agency’s raison d’etre. The author ...

The supply of new accounting students and CPAs—the pipeline to the profession—has been a topic of growing concern over the past several years, driven by research indicating that barriers to entry were ...

FASB’s recent guidance on accounting joint ventures, ASU 2023-5, is intended to resolve diversity in practice and simplify the accounting for these entities. But classifying a newly created entity as ...