Proposed quality management standards
The Auditing Standards Board has issued three proposed new standards for quality management at the firm and engagement levels.
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Additional updates to Coronavirus: Financial reporting considerations
Our white paper has been updated to reflect recent financial reporting developments resulting from the Coronavirus pandemic.
Retirement Report: First Quarter 2021
In this issue, we discuss how to best handle 2021 after a tumultuous 2020. Other topics include labor and workforce, human capital and more.
How nonprofits can better leverage data to drive mission impact
Utilizing data as a tool to drive greater efficiency and better decision-making in your nonprofit organization.
Ongoing updates to Coronavirus: Financial reporting considerations
Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
Deferred tax asset valuation allowance
Our article discusses weighting evidence in discerning whether a valuation allowance should be recognized for deferred tax assets.
Retirement plans under the Consolidated Appropriations Act, 2021
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
COVID-19 relief Act extends and improves many credits and incentives
The 2021 Consolidated Appropriations Act passes Congress and includes many extended and improved tax credits and incentives.
FASB proposes goodwill impairment triggering event alternative
FASB proposes a goodwill impairment triggering event alternative for certain private companies and not-for-profit entities.
Possible extension of TDR and CECL relief provided by CARES Act
Potential extension of the financial reporting relief related to TDRs and CECL provided to certain financial institutions in the CARES Act.
A business guide to the December coronavirus relief package
The package provides additional funding for the Paycheck Protection Program and allows certain borrowers to draw second round of PPP funding
Directors reflect on how a vaccine and the election will shape 2021
After the US presidential election and looking ahead to a new year, most companies are still wondering when the world will return to normal.
Changing landscape of pandemic relief for health care providers
If health care providers can’t support the receipt of pandemic relief funds, there will be significant questions about their sustainability.
PPP borrowers may need to extend returns and forgiveness applications
PPP borrowers, especially fiscal year taxpayers, should consider extending tax returns and delay loan forgiveness filing (unless necessary).
Tax Policy Now: Year-end tax planning and Paycheck Protection Program
PPP borrowers cannot deduct business expenses funded by a forgiven loan, but additional legislative action could permit such deductions.
Audit & Accounting Guide for employee benefit plans updated
An updated AICPA guide addresses the unique aspects of the preparation and auditing of employee benefit plan financial statements.