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The Educational Foundation of the Kansas Society of CPAs has announced the 2018 recipients of its general graduate scholarships, undergraduate scholarships, and faculty grants. The KSCPA annually offers 14 student scholarships – seven for graduate students and seven for undergraduates. Scholarships are awarded to top accounting students at Kansas Board of Regents universities, as well […]
The International Auditing and Assurance Standards Board has announced that it is continuing its search for a new chair, calling for qualified, senior applicants from around the world to apply by Jan. 31, 2019. The IAASB, supported by the International Federation of Accountants, seeks a new chair to replace Arnold Schilder, whose has overseen the […]
Photo: PCAOB The Public Company Accounting Oversight Board adopted a new standard to enhance the requirements that apply when auditing accounting estimates, including fair value measurements, and also adopted amendments to its auditing standards regarding specialists. The new estimates standard replaces and streamlines three standards into one single, uniform standard updating the approach to auditing […]
Courtesy of GASB The Financial Accounting Standards Board proposed an accounting standards update aimed at making it easier for nonprofits to account for goodwill and measure some intangible assets. The proposed ASU builds on recommendations that the Private Company Council had made to FASB in 2014 to reduce the cost and complexity of accounting for […]
Wolters Kluwer Tax Accounting in North America has announced that its CCH Axcess Financial Prep software now integrates with Xero’s accounting software. The integration uses Xero’s programming interface to allow client data to flow directly to CCH Axcess Financial Prep, removing the need for manual export or import. This news comes in time for tax […]
Critics of President Donald Trump’s tax law centerpiece — slashing the corporate rate — argued the savings wouldn’t spur big companies to expand dramatically. One year later, some key metrics show they were right. For companies in the Standard Poor’s 500 Index, the profits they’ve made from sales this year through September — after accounting […]
Courtesy of Crowe Top 10 Firm Crowe LLP agreed to pay the Securities and Exchange Commission a penalty of $1.5 million to settle charges surrounding its audit of a now-bankrupt staffing company. The audit client, Corporate Resource Services Inc., went bankrupt in 2015 after it was revealed that it had not paid approximately $100 million […]
To increase information security, the IRS will stop its tax transcript faxing service as of Feb. 4. The IRS said that it worked with the tax prep community to agree that the move will meet practitioners’ needs in e-filing individual returns while further safeguarding taxpayer data. Cybercriminals who steal transcripts use them to file fraudulent […]
As the window for correcting paycheck withholding errors starts to close, a new survey shows why more than half of respondents failed to update their withholding: They don’t know how. Only 46 percent of respondents to the HR Block survey said they felt prepared to update their W-4 on their own, and many showed confusion […]
Fotolia The House of Representatives passed a bill that would extend tax breaks for biodiesel and correct errors in the GOP tax overhaul, but the legislation is unlikely to be considered in the Senate before year end. The Republican-controlled Senate has shown little interest in taking up the House’s package before members leave for the […]
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