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2 weeks ago | 
journalofaccountancy.com | Bryan Strickland
news PERSONAL FINANCIAL PLANNING Yes, every candidate for retirement is different. But, whether you’re an individual beginning to eye retirement or a financial planner with a constant eye on helping your clients successfully retire, a snapshot of the typical would-be retiree can provide perspective worth considering.
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3 weeks ago | 
journalofaccountancy.com | Bryan Strickland
news ACCOUNTIG & REPORTING The climate disclosure rules adopted a year ago by the SEC will no longer be defended in court by the commission after a vote Thursday.
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1 month ago | 
fm-magazine.com | Bryan Strickland |Vicky Li
A global survey conducted at the onset of Corporate Sustainability Reporting Directive (CSRD) reporting requirements found that companies in the crosshairs are twice as likely to view climate change as a top risk — and more than twice as likely to appreciate the strategic opportunities that their attention to climate risk provides.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
Catherine "Halie" Creps, CPA, has been selected as the next chair of the AICPA Auditing Standards Board (ASB). Creps, a partner in KPMG's Department of Professional Finance, and seven board members will assume their new roles at the end of May. "Halie has the right skills and expertise to extend the record of strong leadership we've had at the ASB," Jennifer Burns, CPA, the AICPA's chief auditor, said in a news release.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
The Private Company Council (PCC), established in 2012 to work with FASB to improve the process of setting accounting standards for private companies that follow GAAP, has issued its first annual report. The report, which came about at the recommendation of a review that confirmed the PCC's effectiveness last year, highlights key areas of progress in 2024.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
The PCAOB recently withdrew a rule aimed at adding a swath of reporting requirements on Form AP, but it still has concerns about deficiencies related to the form's existing requirements. A new staff publication, "Audit Focus: Form AP," aims to assist auditors in avoiding what the PCAOB staff called "a large number of deficiencies" on the form, according to a news release.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
While the ultimate shape of a burgeoning tariff war remains unclear, CFOs and finance leaders made one thing clear in a recent survey: The majority of any added costs incurred will be passed on to consumers. In a Gartner survey last week of 192 CFOs and finance leaders at organizations with global operations, respondents reported that, on average, 73% of cost increases related to tariffs would be absorbed by their companies' customers.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
An AICPA Professional Ethics Executive Committee (PEEC) task force is seeking feedback after issuing a discussion memorandum featuring its preliminary conclusions about potential revisions to independence rules related to alternative practice structures. Public comments should be emailed to [email protected] by June 15.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
The AICPA and the National Association of State Boards of Accountancy (NASBA) published proposed changes to the accounting profession's model law that would enable an additional path to CPA licensure. Proposed changes to the Uniform Accountancy Act (UAA) are being exposed for public comment through May 3.
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1 month ago | 
journalofaccountancy.com | Bryan Strickland
When Michael Ly launched his CPA firm in 2015, his then-revolutionary work model led to some unexpected, and hilarious, circumstances during interviews with potential employees. "They'd say, 'Hey, to be honest, I applied thinking that this job was a scam,'" Ly said. The disbelief came from Ly founding Reconciled to be a fully remote firm, something unheard of in the industry 10 years ago.
