AICPA Board Votes to Finalize Standards on Audit Evidence and Auditing Estimates
By Soyoung Ho The AICPA’s Auditing Standards Board (ASB) voted to finalize two proposed auditing standards on audit evidence and …
GOP Bill Seeks New Disclosure for U.S.-Listed Chinese Companies
By Bill Flook Rep. Ann Wagner, a Missouri Republican, on May 22, 2020, introduced legislation that would impose a host …
IRS Taking Steps to Increase Operations
On the IRS website, the IRS Commissioner has explained that the IRS anticipates bringing more people back into its campuses …
FASB to Publish Delays on Revenue, Lease Accounting for Private Companies Early June
By Denise Lugo The FASB on May 20, 2020, voted to extend a proposed year delay for revenue rules beyond …
Divided SEC Scales Back Disclosure for Business Combination
By Soyoung Ho The SEC on May 21, 2020, said it has voted to scale back corporate disclosure requirements in …
New Economic Impact Payment FAQs Include Answer About Prepaid Debit Cards
IRS has provided additional information, in the form of FAQs, about economic impact payments under the CARES Act. One FAQ …
Dem Relief Package Would Require SEC IG to Report on Rulemaking, Oversight
By Bill Flook The HEROES Act, a $3 trillion coronavirus relief package proposed this week by House Democrats, contains a …
Challenges in Pandemic: Assessing Corporate Solvency
By Soyoung Ho With unprecedented economic challenges in modern American history because of the COVID-19 pandemic, corporate accountants and auditors …
IRS Encourages Questions on COVID-19 Payroll Tax Law/Form Changes
Payroll tax professionals had many questions for the IRS during a May 7 payroll industry telephone conference call with respect …
SEC Relief Allows Small Businesses to Raise Capital More Quickly Under Regulation Crowdfunding
By Soyoung Ho With small businesses struggling because of the economic turmoil brought about by the COVID-19 pandemic, the SEC …