Audit & Accounting

New websites, more firms are turning to video, and more…

Thomson Reuters Checkpoint released a special report on Tuesday, entitled President’s Fiscal Year 2016 Budget. The President’s budget contains a host of individual and business tax proposals. This report examines some of the budget’s highlights, including the President’s strategy to strengthen the middle class and help working families.

The Financial Accounting Standards Board has issued an accounting standards update to improve specific areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations and securitization structures.

Dr. Larzette Hale, who was the first Black American female to become a CPA in the state of Georgia and the first to earn a PhD in accounting, has died.

The Rhode Island Society of CPAs is trying to re-imagine the traditional financial statement.

The Private Company Council, a sister organization of the Financial Accounting Standards Board that represents the interests of privately held companies, has expressed major concerns about FASB’s project on the balance sheet classification of debt.

The American Institute of CPAs’ Conflict Minerals Task Force has developed two new Q&A documents on conflict mineral disclosures mandated under the Dodd-Frank Act.

The Institute of Internal Auditors has issued a practice guide for providing competent internal audits in the public sector.

The AICPA announced the launch of a new site today, cpapowered.org, which emphasizes the value CPAs can provide to the nation’s 28 million small businesses on strategic planning, compliance reporting and financial management. It is an expansion of the AICPA’s "#CPAPOWERED campaign," created last year to highlight CPAs’ expertise.

The Financial Accounting Standards Board and the International Accounting Standards Board have been holding a series of meetings of their Joint Transition Resource Group as they prepare for implementation of their converged standard on revenue recognition.