In the realm of financial accountability and good governance, auditors play a critical role in ensuring that organizations, whether public or private, adhere to the highest standards of transparency and accountability. Audits…
Ensuring large corporations and high-income, high-wealth individual taxpayers pay taxes owed
Today the IRS announced new initiatives to ensure large corporations pay taxes owed. As these initiatives to improve compliance among high-income individuals, complex partnerships and large corporations ramp up, the IRS is…
Exploring the best way to account for cryptoassets: A matter of evolution
The rise of cryptocurrencies has transformed the financial landscape, introducing a myriad of opportunities and challenges. Cryptoassets have moved beyond the realm of a fringe technology and have captured the attention of…
The urgent need for new accounting professionals
In today’s ever-evolving financial landscape, the role of accounting professionals has never been more critical. From individuals managing their personal finances to multinational corporations handling complex international transactions, accountants play a pivotal…
Why accountants should understand and utilize ChatGPT
Accountants may find it valuable to understand and utilize ChatGPT, or similar AI-powered language models, to transform their data analysis, reporting, and client interactions. Introduction In the rapidly evolving landscape of accounting…
New York workers take step toward greater pay equity with Pay Transparency Law
The Law requires employers with four or more employees to include the minimum and maximum annual salary or hourly range for compensation in any job advertisement. This month,Ā New York Stateās Pay Transparency…
PCAOB adopts new standard modernizing requirements for auditorsā use of confirmation
The new standard replaces outdated interim standard, enhances procedures, including strengthening an auditorās approach to identify fraud. The Public Company Accounting Oversight Board (PCAOB) adopted aĀ new standardĀ to strengthen and modernize the requirements…
Have you met EDGAR?
EDGAR stands for Electronic Data Gathering, Analysis, and Retrieval. It is an online database maintained by the U.S. Securities and Exchange Commission (SEC). It is a comprehensive repository that contains a wide…
ABLE accounts: A tax-advantaged way to save for disability-related expenses
The Achieving a Better Life Experience (ABLE) Act of 2014 allows states to create tax-advantaged savings programs for eligible people with disabilities (designated beneficiaries). Funds from these 529A ABLE accounts can help…
Understanding Social Security spouse benefits
When you’re planning for retirement, it is essential to consider how your Social Security benefits will impact your spouse. Here’s a simplified breakdown: Spousal Benefit Basics: You can find out more by…