Over the last several years, private equity (PE)-backed companies have become increasingly active within the accounting field. Many CPA firm partners and leaders have received calls from interested PE ...

Recently, FASB issued a new Accounting Standards Update (ASU 2019-12), Simplifying the Accounting for Income Taxes. The new standard amends section 740 of the Accounting Standards Codification (ASC), ...

Auditor Independence is integral to the financial reporting system and trust in the capital markets. But recent cases against large audit firms underscore the challenges firms face in ensuring ...

Under Internal Revenue Code (IRC) section 1031, direct swaps can be difficult to accomplish because the parties may not each have something the other wants. To facilitate exchanges, IRC section 1031 ...

While the use of sustainability reporting has grown in the United States in the absence of a legal mandate and as a result of demand from stakeholders, the lack of a nationwide legal mandate has ...

For several years now, declining enrollments in universities and high turnover at firms have posed a serious threat to the accounting profession’s viability. The solution is not merely a numbers game, ...

Budgeting is important to any organization, but particularly for nonprofits. Given the unique challenges that nonprofits face in the current environment of macroeconomic and regulatory uncertainty, it ...

The AICPA Auditing Standards Board recently issued SAS 134, Auditors Reporting and Amendments, Including Amendments Addressing Disclosures of Financial Statements, and SAS 135, Omnibus Statement on ...

The US Department of Justice (DOJ) and IRS are currently conducting a criminal investigation into potential abuses of Puerto Rico’s Act 60 tax incentive program, and the government has reportedly ...

The One Big Beautiful Bill Act (P.L. 119-21) was signed into law on July 4, 2025, and § 70204 of OBBBA added new IRC §§ 530A, 128, 6434, and 139J. IRC § 530A created Trump accounts, which are ...

State legislatures and tax departments sometimes find out-of-state professional athletes who play games in their states an irresistible source of taxable income. Tennessee, however, bit off more than ...

The recipients of stock compensation awards may be entitled to the dividends that companies pay on their underlying equity shares, while the stock awards are still outstanding but not vested (ASC ...