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A recent report called "Closing the AI trust gap: CPAs and AI assurance" from the Chartered Professional Accountants of Canada and the AICPA defined assurance over artificial intelligence (AI) systems while identifying opportunities for CPA-led assurance engagements.
On Jun. 10, the International Ethics Standards Board for Accountants and the International Auditing and Assurance Standards Board have formed technical expert groups in support of effective global implementation of their boards’ sustainability standards.
The IRS has decided to step back from its proposed regulations on the treatment of built-in gains and losses under Section 382(h), officially withdrawing the rules this week.