News & Updates

As the General Assembly session moves deeper into February and crossover approaches, the gravitational pull of the budget is becoming impossible to ignore. Even for bills that don’t directly appropriate funds, fiscal impact is increasingly shaping which proposals advance, pause, or change form.

The AICPA Professional Ethics Executive Committee (PEEC) voted Dec. 19, 2026, to issue the exposure draft of Proposed Revisions Related to Alternative Practice Structures, which features updated guidelines related to independence and private-equity investments.

The Auditing Standards Board, a key standard-setting body of the American Institute of CPAs, has voted to seek public comment on proposed updates to attestation standards, in part to address sustainability information and other emerging areas of assurance.

Like the year before it, 2026 will be a year of great change as the accounting profession continues its digital transformation journey. Accounting Today reached out to roughly 150 practitioners, vendors, consultants and advocates who provided us their predictions on how all that change will unfold.

The House passed a spending package to end a short-term partial government shutdown and fund most federal agencies through the end of the fiscal year. The spending deal, which includes a two-week continuing resolution for the Department of Homeland Security, was passed by the Senate last Friday.

Artificial intelligence (AI), geopolitics, and cyber-enabled fraud make up the three main trends executives expect to reshape the cybersecurity landscape in 2026, according to the World Economic Forum’s Global Cybersecurity Outlook 2026.

As 2025-2026 chair of the VSCPA Board of Directors, Krystal McCants, CPA, brings more than 20 years of public accounting experience and a passion for relationship-driven leadership. We sat down with Krystal to learn more about her journey, her insights on the profession, and what inspires her both inside and outside the office.

Accounting is no longer just about numbers. It’s about navigating possibilities — and career paths should reflect that.

Successful implementation of new technology tends to be a rare phenomenon. As a result, most people groan at the first signs that a new technology implementation is looming. Consider these strategies to ensure successful technology implementations are the norm for your firm or department.

One of the biggest career accelerators for CPAs may be beyond the office. Serving in a volunteer position on a board, whether for a local nonprofit, professional group or other organization, can help you expand your leadership skills, make connections and serve the greater good.

These tips and practices can give your core team the best chance to deliver outstanding client service without burning out in the process.

Here's an actual claim submitted to CAMICO related to preparing out-of-state returns.

Every VSCPA scholar carries with them a story of ambition, discovery and the drive to succeed. Meet Marisa Cooke, an undergraduate senior at Virginia Tech and proud VSCPA Foundation scholarship recipient. Her journey into accounting is one of unexpected inspiration, bold decisions, and a growing passion for making a difference through the profession.

Thriving without private equity isn’t about rejecting progress — it’s about pursuing a different, more self-directed vision of growth and success.

We can’t easily control external factors, such as the profession’s pipeline deficit, intense tax demands and busy seasons. However, perfectionism is something we do have control over, and it’s not to be dismissed or overlooked.

As consolidation continues to reshape the accounting profession, the $5–10 million revenue tier has emerged as a critical inflection point. But the advantages of reaching this size extend far beyond M&A appeal. For firms focused on long-term growth, talent development, and market relevance, the $5–10 million tier offers a compelling combination of scale, agility and strategic optionality.

After more than 10 years auditing everything from small nonprofits to government-funded entities to Fortune 500 companies, I’ve learned one thing for certain: auditors are translators. We take confusing situations, incomplete documents, complicated processes, and sometimes chaotic financial stories and turn them into clarity. And now, with the rise of AI tools like ChatGPT, auditors also have the opportunity to bring efficiency like never before.

The next 12 months and beyond will see enterprises direct their attention to crucial areas, including AI and robotics.

A government shutdown that forces the IRS to furlough employees would seriously disrupt the 2026 filing season and harm taxpayers, the AICPA cautioned Thursday in a letter urging the agency to maintain full operations.

Legislation to modernize Virginia’s CPA licensure statutes passed a House General Laws subcommittee unanimously Jan. 29, 2026.