Upcoming Changes to the CPA Exam

Whether you sat for the CPA exam or not, it is widely known to be an incredible test of not only one’s technical expertise, but also one’s endurance to make it through the rigorous process. To make things even more difficult, it changes year to year to reflect the most recent updates in accounting standards, …

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Dear Plan Sponsors: Reviewing a SSAE 16 Report

What is a SSAE 16 report anyway? SSAE 16 stands for Statement on Standards for Attestation Engagements No. 16, Reporting on Controls at a Service Organization, and was finalized in January 2010 by the Auditing Standards Board of the AICPA. SSAE 16 replaced SAS 70 as the authoritative guidance for reporting on service organizations. The …

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Pushing for Tax Reform – Retirement Plans

The American Institute of Certified Public Accountants (AICPA) has participated in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with retirement plans. Small businesses are especially burdened by the overwhelming …

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Forensic Accountants: What Makes Them Effective – or Not?

I have been performing forensic accounting services for clients since 1984. During that time, I have heard many definitions of “forensic accounting services” from other CPAs, seminar instructors, and attorneys. The American Institute of CPAs (“AICPA”) has a practice aid[1]  (“Practice Aid”) which gives the following definition of forensic accounting services: “Forensic accounting services generally …

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Pushing Tax Reform – TPR De Minimis Safe Harbor Threshold

The American Institute of Certified Public Accountants (AICPA) has recently been participating in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with rules relative to the de minimis safe harbor …

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Pushing for Tax Reform – Cash Method of Accounting

The American Institute of Certified Public Accountants (AICPA) has recently been participating in U.S. House of Representatives, Committee on Small Business hearings on tax reform with the goal of ensuring that main street isn’t left behind. One area of focus in this regard has to do with rules relative to the cash method of accounting …

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Steps to Improve Financial and Single Audit Quality

The AICPA Governmental Audit Quality Center has some resources available for auditees to assist you in having a smooth and efficient audit. The Center outlines five steps that you, as an auditee, can take to improve the quality of your audit. The first step is to ensure that your auditors are properly qualified and have …

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