5 ways to counteract job burnout | Independence interpretation on hosting services gets new effective date | The evolving nature of the audit
August 15, 2018
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5 ways to counteract job burnout
Twenty-three percent of employees experience burnout at work very often or always, according to a Gallup study, and separate research indicates burnout adds billions of dollars yearly to health care spending. Here are five suggestions for avoiding burnout.
CNBC (8/14) 
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A&A Report
Independence interpretation on hosting services gets new effective date
The new "Hosting Services" interpretation in the AICPA Code of Professional Conduct's "Independence Rule" will take effect July 1, 2019, rather than Sept. 1, 2018. Under the interpretation, a CPA's independence is impaired when the CPA takes responsibility for hosting an attest client's data or records.
Journal of Accountancy online (8/14) 
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The evolving nature of the audit
In this podcast, the AICPA's Chuck Landes discusses the evolution of auditing since the 1990s and gives his assessment of how it might change. Technology is a key driver of change, he says.
Accounting Today (8/13) 
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Financial Focus
Cost-cutting suggestions for retirees
Managing spending in retirement can be challenging, because retirees might grapple with costs related to housing and medical care. Here are 10 suggestions to trim a retiree's budget.
U.S. News & World Report (8/14) 
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Tips for avoiding bankruptcy in retirement
A study based on data from the Consumer Bankruptcy Project finds the number of bankruptcies among Americans ages 65 to 74 is on the rise, partly because of increased health care costs, support of adult children and reduced availability of pension funds. Advisers weigh in on how retirees can avoid bankruptcy.
U.S. News & World Report (8/13) 
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Tax Spotlight
Interest recharacterization rules for "self-charged interest"
Find out how interest recharacterization rules for self-charged interest present an opportunity to lower the 3.8% net investment income tax.
The Tax Adviser (8/2018) 
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Career Development
Questions to help find a job that suits you
It takes a thoughtful approach to decide whether a person is a good fit for an open position. Here are things for candidates and employers to consider.
Financial Management (8/8) 
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How a strong team boosts self-awareness
Many leaders lack self-awareness, but having a strong team can help them to correct this weakness. Set the stage for candid feedback by assuming positive intent, avoiding gossip and showing concern for the success of others.
Harvard Business Review online (tiered subscription model) (8/13) 
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Market Update
CBO projects slower growth in 2019
The US economy should continue to grow quickly in 2018 before slowing down next year, according to the Congressional Budget Office. Real GDP should total 3.1% this year before cooling to 2.4% in 2019, the CBO said.
Reuters (8/13) 
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Trade tensions send Chinese M&A market into downturn
Mergers and acquisitions are faltering as gross margins of Chinese companies are undercut by the US-Chinese trade conflict, industry participants say. Inbound investment financing for M&A fell 20% in the first half of 2018 compared with the second half of 2017, according to Dealogic.
South China Morning Post (Hong Kong) (8/15) 
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Flexibility: Now for auditors -- not just yogis
A new proposed standard would make numerous changes to attestation standards, including changing the terminology for what have been known as "review engagements." Comment by Oct. 11.
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New tax laws affect elder and retirement planning
Planning for your retiring and late-in-life clients has changed in the face of tax reform. Download complimentary excerpts from Practical Retirement Planning and Social Security Planning, two of the guides in our four-part series The Adviser's Guide to Retirement and Elder Planning. Like what you see? Become a PFP Section member to access all the guides for free.
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About the AICPA
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, not-for-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers credentials for a number of specialized areas. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.
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