Professional News

by Scott A. Koman, CPA, CFE, MAFF, and Mark W. Banks, CPA, CFE, MAFF More than an estimated $4.7 trillion is lost annually to occupational fraud worldwide, according to an Association of Certified Fraud Examiners (ACFE) report. Corporate CPAs, like it or not, are on the front lines in the fraud

by Richard F. Fischer, CPA, CGMA The International Auditing and Assurance Board (IAASB) issued the exposure draft Proposed International Standard on Auditing of Financial Statements of Less Complex Entities to address the challenges related to less complex entities (LCEs) and develop a separate

by John S. Stoner, CPA, CVA Business successions are generally accomplished in one of three ways: transition to next-generation family members, sale to key management or employees, or sale to an outside party. There are many considerations, both financial and nonfinancial, when deciding on a

By Howard Silverstone, MBE, CPA, CFF According to the U.S. Census Bureau, the 65-and-older population has grown rapidly since 2010, and, according to forecasts, by 2040 the older population in the United States will reach almost 81 million. Subsequently, elder fraud and abuse will increase with the

By John S. Stoner, CPA, CVA Valuation is critical when preparing for a business transition, whether it’s an acquisition by an outside party or a transfer of ownership to a family member or key employee. Valuation is a broad and subjective concept, and critical factors can be interpreted differently

By Timothy P. Hedley, PhD, CPA, CFF, CFE, Executive in Residence – Fordham University ESG stands for environmental, social, and governance, and is often used interchangeably with sustainability, corporate responsibility (CR), corporate social responsibility (CSR), and triple bottom line

By Benjamin Aspir, CPA, MST, Eisner Advisory Group LLC In late January 2022, the IRS released Private Letter Ruling (PLR) 202204007 in response to a request by a business seeking to determine if it is considered a qualified trade or business under IRC Sec. 1202. The PLR provided IRS insight into IRC

By Donald Kaiser, CPA, McCarthy & Company CPAs are trained to be methodical. They know how to break down assignments into smaller tasks to complete projects on time and within the established budget. That’s why they are perfect to work on complex projects that involve implementing technologies

By Gena Wilson Environmental, social, and governance (ESG) metrics and reporting are now considered business imperatives and increased scrutiny from investors, shifts in stakeholder expectations, as well as policy changes mean companies are facing new pressure to disclose certain ESG-related

By Carl Mayes For the past few years, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have collaborated with stakeholders to reimagine CPA licensure through the joint CPA Evolution initiative, an effort to transform the CPA licensure model