Summer 2021
Features
Charging and Sentencing Trends of Criminal Tax Cases
By Jed M. Silversmith, JD, and Miranda A. Galvin, PhD
The U.S. Sentencing Commission, which provides sentencing guidelines, collects substantial amounts of information on sentencing, including dozens of data points for every criminal case. The data are publicly available, permitting an analysis of specific categories of crimes, including tax crimes.
2021-2022 PICPA President Finds Opportunities Among Challenges
By Franki A. Aitken, CPA
I am the biggest fan, cheerleader, and promoter of the accounting profession, which is why I am so delighted to represent PICPA’s 20,000 members. I am extremely honored and proud to serve as PICPA president for the 2021-2022 year. Though my presidency will kick off remotely, I hope to meet many of you face-to-face at some point during the year.
Managing a Whistleblower Investigation
By Steven G. Blum, CPA, CFE
Explores the intricacies of the whistleblower investigation process, including best practices for guiding the company response and conducting remediation based on findings.
Text Analytics and the Accounting Profession
By J. L. “John” Alarcon, CPA, CGMA, CITP, Yue Liu, PhD, Kevin C. Moffitt, PhD, and Sheneya Wilson, CPA
Text analytics, also referred to as text mining or textual analysis, consists of data mining techniques and software programs that analyze and extract insights from unstructured textual data, such as PDF documents, HTML pages, emails, and social media posts. These techniques have been generally used in academia, library services, artificial intelligence (AI) research, and marketing.
For Nonprofits, State and Local Tax Exemption May Soon Be a Tough Entry
By Michael Beck, JD, and Alycia Solecki, EA
Of the many factors that go into a nonprofit achieving its mission, one of the most important assets sometimes goes overlooked: tax exemption. The benefit provided at the federal, state, and local levels frees essential funds to support operations that otherwise would be paid out in taxes. This can often be the difference between success or failure.
Columns
Accounting & Assurance
Where Are We with Client Noncompliance Issues?
By James J. Newhard, CPA
Catches us up with the status of how CPAs should respond to a client's noncompliance with laws and regulations.
Technology & Cybersecurity
CPAs and Automation in SOC 2 and IT Audits
By Jeff Cook, CPA, CITP, CISA
Addresses the increasing utilization of automation to make the execution of SOC 2 audits cheaper and more efficient.
Business Succession Planning
Five Valuation Questions When Planning Your Succession
By John S. Stoner, CPA, CVA
Reviews the most pressing questions owners of a business should ask when they set out on a valuation for possible succession.
Business Transformations
Tax Uncertainty Causing M&A Disruption
By James P. Swanick, CPA, and Michael J. Tighe, CPA
Takes a look at how tax changes driven by the Biden administration could affect both investors and businesses involved in merger and acquisition discussions.
Business & Industry
Sustainability Reporting Gaining Traction
By Robert Bloom, PhD, and Mark J. Myring, PhD
Addresses the increasing importance of social responsibility in the minds of corporate leaders.
Careers & Lifestyles
Ensuring Equal Entrance into the CPA Profession
By Elisabeth Felten, CPA
Takes a look at the testing accommodations available to candidates who must manage their disabilities while they venture to complete the CPA Exam.
Ethics
Independence Considerations and COVID-19
By Heather M. Demshock, CPA
Details the many different service opportunities that have opened up for CPA firms as a result of the coronavirus pandemic and what that means for CPA ethics.
Liability Lessons
Managing the Risks of Remote Accounting Work
By Irene M. Walton
Explores the top operational concerns for CPA firms as it pertains to performing work in a remote environment.
Charging and Sentencing Trends of Criminal Tax Cases
By Jed M. Silversmith, JD, and Miranda A. Galvin, PhD
The U.S. Sentencing Commission, which provides sentencing guidelines, collects substantial amounts of information on sentencing, including dozens of data points for every criminal case. The data are publicly available, permitting an analysis of specific categories of crimes, including tax crimes.
Forensic Accounting
The Geometry of Fraud and Improving Risk Management
By James W. Sunday, CMA
Discusses the evolution of fraud models that are designed to help CPAs understand the occurrence of fraud.
Personal Financial Planning
Ping-Pong Planning
By Laurie A. Siebert, CPA, CFP, AEP
Details the travails of personal financial planning for clients in a time of continuing legislative change due to coronavirus.
Government & Not-for-Profit
SSAE 19 Offers Agreed-Upon Procedure Efficiencies for Governments
By Khaled Abdel Ghany, CPA, PhD
Discusses the new SSAE 19 requirements and how the changes could benefit state and local governments.
