News & Analysis as of

AICPA

Mitratech Holdings, Inc

Achieving SOC 2 Compliance

A Comprehensive Guide to Ensuring Data Security and Trust. 76% of users believe organizations must do more to protect their data. In an effort to lower this number and increase safety measures when it comes to customer...more

Foodman CPAs & Advisors

Auditoría Comercial Del IRS

El IRS se centra en las empresas desde la aprobación de la Ley de Reducción de la Inflación. Según el Plan Operativo Estratégico (financiado por la Ley de Reducción de la Inflación), el IRS está aumentando las tasas de...more

Foodman CPAs & Advisors

IRS Business Audit

IRS is focused on Businesses since the passage of the Inflation Reduction Act. Under the Strategic Operating Plan (funded by the Inflation Reduction Act), the IRS is increasing audit rates, expanding enforcement and targeting...more

Opportune LLP

Exploring Profit Interests: Accounting & Valuation…

Opportune LLP on

Executives at both public and private companies commonly receive performance-based incentives. The objective is to link compensation closely to a firm's financial results. These performance-based incentives can take many...more

Ankura

Navigating Uncharted Waters: Challenges and Considerations in Auditing the Ownership of Crypto Assets

Ankura on

The rapid rise of crypto assets has presented both opportunities and challenges for auditors, with regulators, practitioners, and businesses grappling to establish clear guidelines and procedures. Even though there is no...more

J.S. Held

What is an Information Security Framework and Why Do I Need One?

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An information security framework, when done properly, will allow any security leader to more intelligently manage their organization's cyber risk. The framework consists of a number of documents that clearly define the...more

Fox Rothschild LLP

AICPA Urges IRS to Extend Deadline for COVID-19 Penalty Relief, Expand Scope

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The American Institute of CPAs (AICPA) has applauded the Internal Revenue Service for granting automatic penalty relief related to select 2019 and 2020 returns, but asked for two tweaks to the process: The group wants...more

Esquire Deposition Solutions, LLC

SOC Reports Provide Critical Insights on Vendor Data Security Practices

I’ve written several times during the past year about the importance of information security for legal professionals. Mitigating the threat of unauthorized access to client confidential information is one of the most...more

Holland & Hart - The Benefits Dial

What Doesn’t Kill You Makes You Stronger… New Audit Requirements for Retirement Plans

For many retirement plan sponsors, Form 5500 preparation season is underway. Plan sponsors should be aware that things have changed with the Form 5500 audit requirements and procedures. These changes push more...more

J.S. Held

Conducting Forensic Accounting And Internal Investigations

J.S. Held on

Introduction - The term forensic accounting is often misused and misunderstood. Tell someone you are a forensic accountant, and the response typically is: “So, like CSI on television!” Sort of. But forensic accountants...more

Mintz - Employment Viewpoints

Auditing Standard SAS 136: Raising the Bar for Retirement Plan Sponsors Fiduciary Committees

In July 2019, the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) issued a revised Statement on Auditing Standards No. 136 entitled, “Forming an Opinion and Reporting on Financial...more

Foodman CPAs & Advisors

Forensic Audits are Trending

The demand for forensic auditing services is soaring during our ongoing Covid-19 pandemic. In the space of Certified Public Accountants (CPA) service offerings, forensic auditing is a recognized   tool for detecting and...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

SAS 136: The New Audit Standard for Employee Benefit Plans and Its Impact on Plan Sponsors

The American Institute of Certified Public Accountants (AICPA) issued a new audit standard for employee benefit plans in July 2019. The new standard is commonly referred to as SAS 136, but its official name is “Statement on...more

WilmerHale

Reflections on the End of a Turbulent Year and Selected Considerations for 2021

WilmerHale on

With 2021 now upon us, companies, auditors and audit committees are gearing up for another annual reporting season, coming off of one of the more turbulent years in recent history, which included a significant number of...more

Foodman CPAs & Advisors

Trabajando juntos, los abogados y los contadores forenses pueden brindar soluciones óptimas

Foodman CPAs & Advisors on

Existe una propuesta de valor presentable a un cliente cuando un abogado trabaja en conjunto con un contador forense.  Los litigios a menudo implican la superposición de múltiples y complejos asuntos legales y contables....more

Foodman CPAs & Advisors

Working together, Attorneys and Forensic Accountants Can Bring About Optimal Solutions

Foodman CPAs & Advisors on

There is a value added for a client when an Attorney is working in tandem with a forensic accountant. Litigation often involves overlapping complex accounting and legal issues. Working together, Attorneys and Forensic...more

Mayer Brown Free Writings + Perspectives

High Quality Financial Reporting in an Unusual Year

The Association of International Certified Professional Accountants (AICPA) hosted the 2020 AICPA Conference on Current SEC and PCAOB Developments this past week at which a number of SEC accountants participated, either...more

Mitchell, Williams, Selig, Gates & Woodyard,...

"In These Uncertain Times": The Tax Consequences of PPP Loan Forgiveness

“These uncertain times” has been an often used phrase over the course of the last several months, and in no facet of 2020 life is it more applicable than the Paycheck Protection Program (PPP) loans implemented as part of the...more

Freeman Law

What are Common Ethical Issues in Tax Practice?

Freeman Law on

The nature of tax practice presents a number of unique ethical issues. Tax practice requires compliance with multiple ethical frameworks. This creates ambiguities and raises complex questions. Courts have even questioned...more

Society of Corporate Compliance and Ethics...

AICPA committee proposes changes to records requests rule

ethikos 34, no. 10 (October 2020) - The American Institute of Certified Public Accountants (AICPA) drafted proposed changes to a rule that allows members to withhold records from a client if the client does not pay the...more

WilmerHale

AICPA Releases New COVID-19 Checklist of “Essential Considerations” for Audit Committees

WilmerHale on

The Association of International Certified Professional Accountants (AICPA) has released an Audit Committee Checklist for COVID-19 that provides questions  for audit committee members to consider as they perform their...more

ArentFox Schiff

DOJ Antitrust Business Review Letter Confirms Trade Associations Can Remain Relevant to the Virtual Marketplace

ArentFox Schiff on

The US Department of Justice issued a business review letter on April 16, 2020, that confirms trade associations can remain relevant and valuable as they manage an escalated emphasis on supporting online marketplaces. The DOJ...more

Opportune LLP

What You Need to Know About Private Equity Valuation Audit Reviews

Opportune LLP on

Private equity fund managers need to develop reliable valuation processes and procedures when conducting fair value analyses in support of their investments to allow for a seamless review by independent auditors....more

Mayer Brown Free Writings + Perspectives

AICPA Expands Permitted Situations for Agreed-Upon Procedures Engagements

In December 2019, the American Institute of Certified Public Accountants (AICPA) revised its attestation standards to eliminate certain requirements for Agreed-Upon Procedures (AUP) engagements, thereby expanding the types of...more

Mayer Brown Free Writings + Perspectives

AICPA Issues Statements on Standards Amending Concept of Materiality

The American Institute of Certified Public Accountants (“AICPA”) Auditing Standards Board issued Statement on Auditing Standards No. 138 and Statement on Standards for Attestation Engagements  No. 20 to amend the concept of...more

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