The Public Company Accounting Oversight Board has issued amendments that are designed to align independence requirements with Securities and Exchange Commission rules that were updated in 2019 and 2020.
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The Coronavirus Aid, Relief and Economic Security Act and subsequent executive action have put student-loan payments on hold until year-end, but it is unclear whether the moratorium will be extended further. Here are some tips for how people with debt can prepare to handle the situation.
6 Outdated Areas of Your Accounting Firm In order to get a better understanding of how the experience economy is affecting the expectations taxpayers have about their experience preparing taxes with an accountant, Canopy commissioned an independent survey of U.S. taxpayers.
The Internal Revenue Service has issued guidance for taxpayers who pay otherwise deductible expenses with Paycheck Protection Program loan funds, saying even if the payment and PPP loan forgiveness happen in different tax years, the expenses are not deductible. The IRS has also provided a safe harbor procedure for taxpayers whose application for PPP loan forgiveness is either withdrawn or denied.
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Optimism is often seen as a positive trait in the workplace, but being unrealistically upbeat about the future can make it difficult to detect problems. Examining data and being aware of emotions can help you avoid toxic positivity.
Treasury Secretary Steven Mnuchin has indicated certain pandemic lending programs administered through the Federal Reserve will close at year-end. Surplus funds should be made available to Congress for reallocation, Mnuchin says.
Investment valuation is complex even under normal circumstances. But market volatility and COVID-19 have conspired to make circumstances anything but normal. If you have questions about performing a solid investment valuation in these challenging times, we can help you find the answers.
American Institute of CPAs
(AICPA) is the world’s largest member association representing the CPA profession, with more than 431,000 members in 137 countries and territories, 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.