Changes related to peer review proposed for UAA

The National Association of State Boards of Accountancy (NASBA) is proposing changes to the Uniform Accountancy Act (UAA) Model Rules related to peer review programs.

GASB proposes implementation guide for fiduciary activities standard

GASB published a proposed implementation guide that provides questions and answers about the board’s new standards for state and local government accounting and financial reporting for fiduciary activities.

ASB changes align GAAS with PCAOB standards

The AICPA Auditing Standards Board voted to issue a new standard that will more closely align generally accepted auditing standards and the Public Company Accounting Oversight Board’s standards.

6 tips for developing critical audit matter disclosures

New PCAOB rules require disclosure of critical audit matters encountered by auditors during the engagement. Here are some suggestions firms can use to identify critical audit matters.

PCAOB strengthens rules for auditing estimates, supervising specialists

The PCAOB voted to approve a new standard and amendments for auditing accounting estimates, including fair value measurements, and using the work of specialists.

How audit committees can oversee FASB standard adoption

Audit committees have a lot to consider as 2018 concludes with adoption of game-changing accounting standards in full swing at many companies.

FASB proposes extending 2 GAAP alternatives to not-for-profits

Under a proposal issued by FASB, not-for-profits would be able to take advantage of the private company GAAP alternatives for accounting for goodwill and accounting for intangible assets in a business combination.

Test your knowledge of 2018 accounting news

Did you pay attention to the most important developments in the accounting profession in 2018? Take this quiz and find out.

FASB proposal would address lessor implementation challenges

FASB proposed an accounting standard that would clarify how lessors should handle certain scenarios under the board’s new lease accounting standard.

Government shutdown would halt many IRS operations

A partial government shutdown at midnight on Friday would affect the IRS, which has not been fully funded for fiscal year 2019.

CPA firms share their holiday traditions

From Christmas to Mardi Gras to Pi Day, CPA firms celebrate the holidays. See how your fellow CPAs have fun, eat well, and give back all year long.

GAAP, SEC taxonomies for 2019 are available

The taxonomies contain updates necessary for meeting GAAP and SEC requirements in financial reporting.

2 valuation guide working drafts issued

The AICPA issued working drafts of two new case studies that will be added to its new accounting and valuation guide, Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies.

2019 standard mileage rates announced

The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019.

Proposed regs. govern tax on base-erosion payments

The IRS issued proposed rules on the Sec.59A base-erosion anti-abuse tax (BEAT), one of a number of new international tax provisions added by the law known as the Tax Cuts and Jobs Act.

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