CPA Now Blog

With the impending effective dates looming for ASC 842, Leases, learn more about some implementation challenges and practical expedients in this video blog by Allison Henry, PICPA's vice president of professional and technical standards.

The effective implementation date of ASC 842 for private companies is Jan.1, 2022, and these companies and their CPAs simply are not ready. The PICPA’s Accounting and Auditing Steering Committee has petitioned the FASB for a two-year deferral of the effective date of ASC 842 , but we need your input, and we need it today!

The U.S. Employee Benefit Security Administration (EBSA) Office of the Chief Accountant (OCA) is about to undertake a study to assess the quality of audit work with respect to financial statement audits of employee benefit plans for the 2020 Form 5500 filing year. Plan administrators and independent qualified public accountant firms need to be ready.

Medical marijuana sales are on the rise and you may be thinking about taking on clients associated with this industry. Before you do anything, you must understand the industry is complex with many regulations.

The root cause of fraud and noncompliance with regulations stems from an organization’s culture. Each organization’s leadership must ensure that the right tone at the top is conveyed and a strong ethical culture is promoted.