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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.