Disclaimer
Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.
CPA Now

Navigating CPA Exam Changes: Extensions and Amnesty for Test-Takers

Dec 5, 2023
Effective Jan. 1, 2024, an 18-month extension will be granted for all unexpired sections of the CPA Exam that have been passed by test-takers. This extension provides a crucial lifeline, affording candidates the time and flexibility needed to prepare and excel in the remaining sections without the pressure of expiring credits.
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Pa. Office of Taxpayers’ Rights Advocate: How We Can Help CPAs

Dec 4, 2023
Some tax professionals and CPAs may not be familiar with Pennsylvania's Office of Taxpayers’ Rights Advocate. This blog shares an overview of the OTRA and the work that it does on behalf of taxpayers and their advisers.
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Manage the Stress Points of Problematic Tax Clients and Reduce Your Risk

Nov 28, 2023
As tax season approaches, remember that tax-related matters constitute a majority of claims against accounting firms. Addressing and managing the stress points associated with problematic clients can significantly improve a firm’s risk profile.
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Accounting & Auditing

The Pitfalls of “Hide-to-Maturity” Accounting

Sep 19, 2023
Bank implosions may not be predictable, but there are usually warning signs that can help regulators and investors plan for stress situations. Held-to-maturity accounting only serves to delay the recognition of stressed realities because of the inability to discern the real economics and financial health of a company.
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AICPA Peer Review Board and the Rise of Nonconforming Engagements

Aug 1, 2023
Over the past few years there have been several hot spots of noncompliance that have drawn the attention of the AICPA peer review board. The board has issued specific guidance that provides peer reviewers with information needed to address areas of frequent noncompliance.
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Ethics

New Standards for Tax Services: Take Effect in January, Applicable to All CPAs

Oct 16, 2023
The AICPA's new Statements on Standards for Tax Services (SSTS) will become effective Jan. 1, 2024. The prior version of the SSTS had seven standards; the revision going into effect boils those seven standards down to four. It is a significant component of the ethics guiding CPA practitioners of taxation.
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Risk Management Considerations of the Corporate Transparency Act’s Beneficial Ownership Reporting

Sep 26, 2023
The Corporate Transparency Act (CTA) was enacted Jan. 1, 2021, as part of the National Defense Authorization Act to combat money laundering, terrorism financing, and other forms of illegal financing. This blog provides an overview of some of the key CTA provisions and addresses potential risks for accounting firms.
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Leadership

IRS Offers an Out for False ERC Claims: Now Is the Time for Review

Nov 27, 2023
The IRS has repeatedly warned businesses about improper Employee Retention Credit (ERC) filings and the threat of unscrupulous ERC advisers. The IRS announced that it is providing guidance for withdrawing erroneous ERCs so that businesses that were misled about eligibility have a path to remediate improper claims and avoid potential penalties.
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Tips on Recruiting in a Tight Labor Market

Nov 20, 2023
Recruiting firms find great talent, share new opportunities with them, and broker an employment deal. But not everyone is in a position to use a recruiter. This blog offers tips from a recruiter to help human resources departments and small-business owners navigate the search for a great candidate.
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Practice Management

Manage the Stress Points of Problematic Tax Clients and Reduce Your Risk

Nov 28, 2023
As tax season approaches, remember that tax-related matters constitute a majority of claims against accounting firms. Addressing and managing the stress points associated with problematic clients can significantly improve a firm’s risk profile.
Full story

Tips on Recruiting in a Tight Labor Market

Nov 20, 2023
Recruiting firms find great talent, share new opportunities with them, and broker an employment deal. But not everyone is in a position to use a recruiter. This blog offers tips from a recruiter to help human resources departments and small-business owners navigate the search for a great candidate.
Full story

Technology

Integration of Human Resource Information Systems: The Last Leg of Finance’s Digital Transformation

Sep 18, 2023
Often, digital transformation efforts in the finance function focus on core processes, including procure-to-pay, order-to-cash, and record-to-report. As technology evolves and becomes further integrated, however, opportunities will exist to extend digital transformation to other business functions, including human resources.
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Accounting in the Age of AI

Aug 28, 2023
The impact of artificial intelligence (AI) on the accounting industry and the clients they serve will have far-reaching consequences. This changing landscape is calling for a new kind of finance leader, one who leverages the power of AI while keeping a pulse on the human workforce and the clients they serve.
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Tax

Pa. Office of Taxpayers’ Rights Advocate: How We Can Help CPAs

Dec 4, 2023
Some tax professionals and CPAs may not be familiar with Pennsylvania's Office of Taxpayers’ Rights Advocate. This blog shares an overview of the OTRA and the work that it does on behalf of taxpayers and their advisers.
Full story

Manage the Stress Points of Problematic Tax Clients and Reduce Your Risk

Nov 28, 2023
As tax season approaches, remember that tax-related matters constitute a majority of claims against accounting firms. Addressing and managing the stress points associated with problematic clients can significantly improve a firm’s risk profile.
Full story