This week on Accountable: How You Can Leverage Today's Virtual Environment for Your Firm, with Chris Hervochon, CPA, CVA In addition to being a SCACPA advisor on B&I topics, [...]
The long awaited changes by the AICPA to Risk Assessment have been issued. SAS 145, which will be effective in 2023, updates several definitions and provides clarity on areas that had [...]
The AICPA has issued a proposal to update key terminology and certain ethics interpretations to better align with changes made by the SEC. The AICPA issued a temporary enforcement [...]
Governmental Accounting Standards Board (GASB) has issued GASB Statement 98 renaming the Comprehensive Annual Report to the Annual Comprehensive Financial Report. The standard eliminates an unintended consequence when the acronym [...]
Nichols' Tax Update, Issue 21-41 Economic Nexus . . . Remote Seller in South Carolina At ‘Press time” only three states, Alaska, Montana, and Oregon had NOT enacted some [...]
The AICPA has issued a proposal to make updates to the Peer Review standards. The changes are primarily formatting to make the standards more user friendly. There are a [...]
Nichols Tax Update 21-40 IRS Announces Extension of Replacement Period for Sold Livestock The IRS has announced (IR-2021-193) that farmers and ranchers who previously were forced to sell livestock [...]
This week's GLS blog addresses the final standards that were issued by the AICPA, FASB and GASB in the third quarter of 2021. While it was a light quarter [...]
Divorce-Related Property Transfers Are Tax Free The IRS ruled that an annuity payment arrangement includes nontaxable transfers between former spouses that are incident to divorce under section 1041 and [...]
The AICPA's Professional Ethics Executive Committee (PEEC) has issued a proposal to revise the rules around unpaid fees. The current rules use a one year period with no considerations [...]
The AICPA has issued a proposed ethics interpretation to help CPAs understand to what extent they can assist clients with implementing new accounting standards. The proposal identifies certain items [...]
SCACPA announces the launch of its Video Archive as part of its new CPA Resources Center. Have you ever wanted to hit "rewind" on a technology session or suffered [...]
FASB has issued a proposed ASU addressing the accounting for investments in equity securities measured at fair value that are subject to contractual restrictions preventing the sale of those [...]
This week on Accountable: Mental Wellness in the Workplace, with Nikissia Craig, LCSW, CCTP In addition to being a SCACPA advisor on B&I topics, David Peters is an acclaimed [...]
This week's blog addresses part 2 of the IFR4NPO Consultation Paper. The second part of the paper focuses on NFP Specific Financial Reporting Issues. The project is looking for [...]
The AICPA is in the process of updating the CPA exam and is looking for CPAs to give them feedback as to whether their plan meets the needs of [...]
The AICPA has provided a Fraud Risk Framework document to help CPAs and their clients visual the types of fraud in 3 major sectors. The one pagers help put [...]
This week on Accountable: Hiring During the Great Resignation, with TalentSource360 Managing Partner Corey Edmonds. In addition to being a SCACPA advisor on B&I topics, David Peters is an [...]
The AICPA has issued a TQA addressing questions about how for profit and nonprofit entities account for the new restaurant revitalization and shuttered venue grants that have been received [...]
Single Audit Considerations Melisa Galasso In response to the devastating effect of the global pandemic on the US economy, Congress passed several laws (the CARES Act, CAA and ARPA) [...]