FASB Issues Alternative Accounting Standard on Intangible Assests

December 29, 2014 

FASB Issues Alternative Accounting Standard on Intangible Assests

The Financial Accounting Standards Board (FASB) today issued guidance intended to improve private company financial reporting regarding accounting for identifiable intangible assets in a business combination. FASB Accounting Standards Update No. 2014-18, Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination, is based on a consensus reached by the Private Company...…

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December 15, 2014 

AICPA Issues Advisory to Employee Benefit Plan Sponsors

The AiCPA has prepared a new advisory to provide plan sponsors, administrators and trustees with an understanding of the importance of hiring a quality auditor to perform employee benefit plan financial statement audits

 AICPA Proposes Transforming Peer Review Program

December 15, 2014 

AICPA Proposes Transforming Peer Review Program

The American Institute of CPAs has issued a concept paper that seeks input on the CPA profession’s practice monitoring of the future. The paper, “Evolving the CPA Profession’s Peer Review Program for the Future,” paints a picture of how the existing ...

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December 8, 2014 

7 Key Risk Areas for 2014 Audit Cycle

To help public company auditing firms address risks in a proactive and accelerated manner, the Center for Audit Quality (CAQ) has published a member alert, “Select Auditing Considerations for the 2014 Audit Cycle.”

 How to Build a Fraud-Resistant Business

November 18, 2014 

How to Build a Fraud-Resistant Business

Financial reporting fraud can prove costly for investors and other capital market stakeholders. A new report from the Anti-Fraud Collaboration takes a fresh look at best practices for fraud deterrence and detection, highlighting the critical importance of

 IRS Allowed Up to $167 Million in Questionable Fuel Tax Credits

November 13, 2014 

IRS Allowed Up to $167 Million in Questionable Fuel Tax Credits

The Internal Revenue Service (IRS) may have allowed approximately $167.7 million in questionable fuel tax credit claims between 2011 and 2013, according to a new study released publicly today by the Treasury Inspector General for Tax Administration (TIGTA