News & Updates

Companies looking to manage risks related to generative artificial intelligence (AI) can now turn to guidance built on a widely used framework of internal controls.

For many CPA firms, implementing SQMS No. 1 begins with building the foundation: documenting quality objectives, identifying quality risks and designing responses. But the system of quality management does not end once the initial framework is in place.

The University of Virginia’s Weldon Cooper Center for Public Service released its latest quarterly economic forecast, projecting Virginia’s growth will slow to 0.3% in 2026 after growing 1.5% last year, with a rebound of 1.6% expected in 2027.

Financial literacy is one of the few issues that cuts across politics, demographics, and professional silos. It is a shared economic foundation. And, increasingly, financial professionals are being called to lead.

Wharton research shows that giving learners on-demand AI assistance can erode practice, "productive struggle," and long-term skill growth — even when they know it harms their learning.

Despite an evolving business landscape and the rapid rise of automation and analytics, the core reasons for choosing accounting remain stronger than ever — and in many ways, more compelling.

For most CPAs, those three letters after our name are more than a credential — they’re a symbol of ethics, achievement, and trust. But in some firms and states, CPAs are being asked — or even required — not to use the designation in business communications.

The Internal Revenue Service has launched a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities.

The AICPA Auditing Standards Board has voted to seek public comment on proposed updates to attestation standards, in part to address sustainability information and other emerging areas of assurance.

Finance leaders are poised to limit pay and headcount increases throughout 2026 while expanding investment in artificial intelligence and other technologies, according to a recent survey.

On Feb. 26, 2026, the VSCPA submitted comments on the U.S. Department of Education’s Notice of Proposed Rulemaking, “Reimagining and Improving Student Education.”

Data analytics combined with other forensic accounting tools can help investigators uncover how investors in Ponzi schemes were victimized and how data can be compiled to locate stolen assets and create an analytical report that aids regulators and legal proceedings.

During the 2026 General Assembly Session, the 2026 Amendments to the 2025 Appropriation Act replaced Virginia’s rolling conformity to the IRC with a fixed conformity date of Dec. 31, 2025.

This article looks at risks around AI, including generative AI — crossing technological, economic, human, and environmental lines.

The OBBB Act introduces both planning opportunities and new stress points that can easily evolve into disputes if expectations are not clearly communicated and documented.

Crossover was Tuesday, Feb. 17, and it has reshaped the landscape at the General Assembly. While tax conformity and PTET are expected to be resolved in the caboose budget, several other tax policy issues remain active as bills move to the opposite chamber.

AI is no longer just a headline. It’s fast becoming the backbone of many industries, including accounting and finance. Within a few years, the very definition of “normal work” will change. For CPAs and finance leaders, understanding how leadership must evolve is now a business imperative.

Most accounting firms, especially partnership‑based firms, lean heavily on financial incentives to drive business development. But research shows financial incentives often change why people work, not how well they work.

After suffering two strokes in four days, the author battled mental health issues before he learned to recognize, address, and prevent chronic stress.

With audit committees being asked to take on more emerging risks, new research examines what these additional responsibilities and duties mean for effective governance and oversight.