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CPA Evolution Aims for Radical Rethinking of Profession
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No Change to Ethics CPE in January 2020
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SEC Seeks to Change Auditor Independence Rules
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First Mazars Female Partner Speaks on Diversity

Latest Articles

  • FASB Advances Exposure Draft Clarifying Accounting Acquirer Rules in Business Combinations

    By:
    Emma Slack-Jorgensen
    |
    Mar 7, 2025
    On March 5, the Financial Accounting Standards Board (FASB) voted to advance an exposure draft—issued last Oct. 30—that proposed updates to Business Combinations (Topic 805) and Consolidation (Topic 810).

  • IRS Continues to Face Massive Workforce Cuts

    By:
    Emma Slack-Jorgensen
    |
    Mar 6, 2025
    The IRS may be facing one of the largest workforce reductions in its history, with reports indicating that the Trump administration is planning to cut staff by as much as 50% by the end of the year. This would be achieved through a mix of layoffs, attrition and buyouts.

  • IRS: Interest Rates to Stay the Same for the Second Quarter This Year

    By:
    Karen Sibayan
    |
    Mar 6, 2025
    The IRS on Mar. 6 announced interest rates will remain the same for the calendar quarter starting April 1. According to the IRS, for individuals, the rate for overpayments and underpayments will be seven percent per year, compounded daily. 

  • AICPA Auditing Board Seeks Public Comment on Two Exposure Drafts

    By:
    Emma Slack-Jorgensen
    |
    Mar 5, 2025
    The AICPA Auditing Standards Board (ASB) has approved two new exposure drafts for public comment, both aimed at refining key auditing and attestation standards. These proposals, issued following a Feb. 13 public meeting, are designed to improve audit quality and align professional standards with evolving industry needs.

  • Trump Administration Shuts Down 18F, the Government Tech Office That Helped Build IRS Direct File

    By:
    Emma Slack-Jorgensen
    |
    Mar 5, 2025
    The Trump administration has officially shut down 18F, a federal agency focused on modernizing government technology. On Mar. 1, about 85 employees received dismissal notices, effectively dissolving the office that helped build IRS Direct File, the agency's free service that helps taxpayers file their tax returns online.

  • AICPA and NASBA Propose New CPA Licensure Pathway for Public Comment Due May 3

    By:
    Emma Slack-Jorgensen
    |
    Mar 4, 2025
    AICPA and the National Association of State Boards of Accountancy have opened a 60-day public comment period on proposed revisions to the Uniform Accountancy Act, aimed at expanding pathways to CPA licensure. Interested stakeholders have until May 3 to submit comments on the proposed changes.

  • FAE’s Exempt Organizations Conference: Zachary Segal on Form 990

    By:
    Emma Slack-Jorgensen
    |
    Mar 4, 2025
    For tax-exempt organizations, form 990 is more than a tax filing—it’s a vital tool for transparency and governance. At the FAE’s Exempt Organizations Conference on Feb. 27, Zachary Segal, CPA, senior manager at CohnReznick LLP, led a session exploring how nonprofits can strengthen their compliance, improve public perception and avoid common mistakes when filing Form 990. 

  • KPMG Launches First Big Four-Owned Law Firm in the U.S.

    By:
    Emma Slack-Jorgensen
    |
    Mar 3, 2025
    KPMG has launched KPMG Law US, the first law firm owned by a Big Four accounting firm in the U.S. KPMG is taking advantage of Arizona's Alternative Business Structure program that removed a restriction that does not allow nonlawyers to own a law firm. 

  • Treasury to Stop Enforcement of CTA Against U.S. Citizens, Domestic Reporting Firms

    By:
    Karen Sibayan
    |
    Mar 3, 2025

    The Treasury Department announced on March 2 that, with respect to the Corporate Transparency Act, that not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will not enforce any penalties or fines against U.S. citizens or domestic reporting firms or their beneficial owners after the rule changes take effect.

  • Regulatory Roundup: February 25 - March 3

    By:
    Karen Sibayan
    |
    Mar 3, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA's regular series that collects relevant regulatory announcements from the past week and puts them in one place to help you stay on top of the issues.
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