Genuine Learning Blog: FASB Proposed Changes to Hedge Accounting
A Blog to Keep You On the HEDGE OF YOUR SEAT!The FASB released its Exposure Draft on Hedging Accounting in September 2024, and it's a game changer! With [...]
A Blog to Keep You On the HEDGE OF YOUR SEAT!The FASB released its Exposure Draft on Hedging Accounting in September 2024, and it's a game changer! With [...]
The AICPA has proposed changes to the independence guidance for 529 plans. The original interpretations has deemed 529 plans to be direct financial interests. Due to changes [...]
The proposed joint data standards for the Financial Data Transparency Act (FDTA) were issued in August 2024. The public is invited to make comments on the proposed [...]
In July 2024, the Employee Benefit Plan Audit Quality Center (EBPAQC) Executive Committee issued an important letter warning auditors conducting ERISA employee benefit plan audits about the [...]
This past July, the AICPA's National Pipeline Advisory Group (NPAG) related its Accounting Talent Strategy Report to address the accounting talent shortage. This report was based off of [...]
Submitted by: SCDEW This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Employers who hire a Third-Party Administrator (TPA) to communicate [...]
Author: David R. Peters, CPA, CFP, CLU, CPCU This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Lately, I cannot go a day without [...]
Author: Liz Peuster, CAE This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report The ongoing impact of generative AI cannot be understated. This technology [...]
Author: Jaclyn Veno, CPA This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Occupational fraud poses a significant risk to organizations of all sizes [...]
Author: Doug Van Dyke, CEO, Leadership Simplified This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Recently, I had the pleasure of speaking at [...]
Submitted by: SCDOR This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Whether you are looking forward to cooler weather or looking back on [...]
GLS is celebrating their 300th blog! This one is a very exciting one! The FASB has issued a proposed ASU, DERIVATIVES SCOPE REFINEMENTS AND SCOPE CLARIFICATION FOR [...]
The AICPA's Government Performance and Accountability Committee issued the Detecting Government Fraud report in June 2024. The report highlights 4 cases of government fraud with what controls could [...]
This past June, the AICPA has issued SSAE No. 23, Amendments to the Attestation Standards for Consistency With the Issuance of AICPA Standards on Quality Management. SSAE [...]
The AICPA's Financial Reporting Executive Committee has issued an early working draft of chapter 8, "Inferring Value From Transactions in a Private Company's Securities," and chapter 9, [...]
The AICPA has issued a TQA to assist auditors with addressing how to consider the new Department of Education's related party disclosure requirements. The TQA provides example [...]
The GAO has issued proposed changes to the Standards for Internal Control in the Federal Government (the Green Book) which were last updated in 2014. The proposal [...]
The Government Finance Officers Association (GFOA) has recently issued a report on Why GFOA is Rethinking Financial Reporting. Annual financial reports take a considerable amount of time and [...]
The AICPA's Digital Assets Working Group has updated the Digital Assets Practice Aid. The AICPA updated this practice aid by adding two new chapters on auditing the valuation [...]
The latest session of the Supreme Court brought significant decisions that directly impact the realm of tax law. Here’s a concise look at the major cases and their implications: [...]
Both the AICPA and FASB are nonprofit organizations that make their financial statements available to the public. Both organizations also have a December fiscal year end which [...]
We all want to grow our businesses, but when is it enough? On this episode, David is joined by Dan Grech, Founder and Lead Instructor of BizHack, which provides [...]
Through the Enhancing Audit Quality initiative, the AICPA promotes high quality auditing and assurance, with a focus on subject matter that has created challenges for practitioners. According [...]
The AICPA's Professional Ethics Executive Committee (PEEC) has issued another proposed interpretation, this one addressing recruiting as a nonattest service. The proposal provides updated guidance on the [...]
The AICPA's Professional Ethics Executive Committee (PEEC) is proposing changes to the tax services rules with respect to independence. As part of their IESBA convergence, the rules [...]
GASB 103, Financial Reporting Model Improvements, was issued by the GASB. This standard does not make the sweeping changes to governmental funds proposed in earlier versions of the [...]
The AICPA has released a proposal of Chapter 8 of the Not-for-Profit A&A Guide on Programmatic Investments. The chapter provides context as to the impact of CECL [...]
This week's blog provides an overview of a recently issued PCAOB Spotlight that can help firms with evaluating audit evidence. While the report is issued by the [...]
The PCAOB has issued a Spotlight - Root Cause Analysis – An Effective Practice To Drive Audit Quality which provides details on how root cause analysis has [...]
In April, IESBA issued new guidance to provide ethical considerations for tax planning performed by those in public practice as well as those in industry. The guidance [...]