What ‘dry runs’ reveal about critical audit matters

The new reporting model for public company audits requires practitioners to disclose “critical audit matters” that arise during their work. A new Center for Audit Quality report examines the results of “dry runs” that are designed to help firms develop methodologies for determining and reporting critical audit matters.

2019 standard mileage rates announced

The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019.

Proposed regs. govern tax on base-erosion payments

The IRS issued proposed rules on the Sec.59A base-erosion anti-abuse tax (BEAT), one of a number of new international tax provisions added by the law known as the Tax Cuts and Jobs Act.

Executives’ optimism recedes from historic highs

Optimism in the domestic and global economies slipped this quarter, with concerns about trade disputes, tariffs, and worker shortages voiced in a quarterly survey of U.S. finance executives.

The 2018 accountants technology gift guide

What gadgets, gear and other tech goodies should CPAs be seeking as presents this holiday season?

How tax reform is changing clients’ financial plans

CPA financial planners named charitable giving, business structure and estate plans as the areas of clients’ financial plans they have had to adjust most frequently following the passage of the TCJA, according to a recent survey.

No delay in lease accounting standard effective date, Golden says

FASB will not delay the effective date of its new lease accounting standard, board Chairman Russell Golden said at the AICPA Conference on Current SEC and PCAOB Developments.

How audit committees can address emerging technologies

A new Center for Audit Quality tool, Emerging Technologies, is designed to help audit committees perform oversight of financial reporting that is affected by emerging technologies.

PCAOB to consider rules on auditing estimates, use of specialists

The PCAOB will meet to consider adopting new rules for public company auditors on auditing accounting estimates, including fair value measurements, and on the use of specialists.

How to recognize ‘individually tailored’ disclosures

The new concept of “individually tailored” accounting disclosures has been a challenge for accountants and auditors.