Professional Issues Update

The PCAOB has issued its Draft 2026–2030 Strategic Plan outlining priorities for modernizing standard-setting, inspections, enforcement, stakeholder engagement, and the use of technology and data.

The AICPA Professional Ethics Executive Committee (PEEC) has proposed its 2027–2030 Strategic Plan to strengthen ethical standards, implementation support, stakeholder engagement, and the committee’s operating model.

In June 2024, the AICPA Professional Ethics Executive Committee proposed revisions to the Code of Professional Conduct addressing independence when firms provide tax services to attest clients. The PICPA was concerned that inclusion of a bright-line threshold when evaluating certain tax positions to determine whether independence would be impaired was too difficult to apply in practice.

The AICPA Peer Review Board (PRB) has proposed a 2027–2030 Strategic Plan to modernize the Peer Review Program in response to rapid changes in technology, firm structures, assurance services, and the profession’s workforce.

The PICPA weighed in on how the PCAOB should modernize auditing standards, from AI to international alignment.

The PCAOB is proposing updates to QC 1000 - the rule governing firm quality control - to simplify compliance and reduce unnecessary burden for firms of all sizes, without compromising audit quality or investor protection.

The SEC has proposed letting companies choose between quarterly and semiannual financial reporting. The goal is to reduce the regulatory burden on public companies.

Pennsylvania currently relies on the federal regulatory framework for stablecoins, but pending legislation could reshape digital asset oversight in the Commonwealth. Learn what practitioners should know about the proposed bill and the tax implications of increasing stablecoin adoption.

The PCAOB has asked for stakeholder input on its strategic priorities, and the PICPA has embraced this opportunity to influence the future direction of audit oversight.

See what’s in the Pennsylvania State Board of Accountancy’s regulatory agenda for 2026 and where the PICPA will be focusing its attention.

See what’s in the Pennsylvania Department of Revenue’s regulatory agenda for 2026 and where the PICPA will be focusing its attention.

Pennsylvania House Bill 1290 would allow licensing boards to provide advisory opinions to licensed professionals who have questions about state rules and regulations.