Corporate Transparency Act Won’t Be Enforced Against US Citizens, Domestic Entities
U.S. citizens, domestic entities, and their beneficial owners need not worry about penalties and fines under the Corporate Transparency Act …
PCAOB Chair: Inspectors Are Seeing ‘Significant Improvements’ in Audits by Largest Firms
Following troubling increase in audit deficiency rates in the past few years, Public Company Accounting Oversight Board (PCAOB) Chair Erica …
CPAs Must Upskill to Succeed in Top Finance Roles, Report Finds
Certified Public Accountants (CPAs) seeking to advance to chief financial officer (CFO) roles must develop a broader range of skills …
Fund Manager Asks SEC to Write Rule for Disclosure of Revenues From Tobacco
The Securities and Exchange Commission (SEC) already has a jam-packed rulemaking agenda planned for this year, altogether about three dozen, …
Gensler Defends SEC Staff Accounting Bulletin on Crypto After GAO Report Deems it a Rule
Securities and Exchange Commission (SEC) Chair Gary Gensler once again defended the controversial Staff Accounting Bulletin (SAB) No. 121 on …
Accounting Profession Not Just About Closing Books and Issuing Reports, Chief Accountants Say
The accounting profession is not just about closing books and producing annual and quarterly reports but about bringing value to …
AICPA Digital Asset Reporting Guide Punts on Lending Transactions
A working group of the AICPA—which develops a practice aid related to crypto accounting—decided not to directly address a recent …
Audit Deficiencies Increased, 2021 PCAOB Inspections Find
The Public Company Accounting Oversight Board (PCAOB) said that accounting firms should do a better job of auditing their clients’ …
Companies Already Have Implementation Questions on SEC’s New Pay vs. Performance Rule
The Securities and Exchange Commission’s Division of Corporation Finance (CorpFin) staff has already been getting implementation inquiries about the commission’s …
SEC Acting Chief Accountant Urges Auditors to Step Up in Detecting Corporate Fraud
Securities and Exchange Commission Acting Chief Accountant Paul Munter issued an Oct. 11, 2022, public statement, urging auditors to do …