Accounting
AuditBoard releases risk, compliance, audit solution RiskOversight
RiskOversight is designed to elevate and execute risk management programs across the enterprise, including risk identification, assessment, response, mitigation, and monitoring. Original Article Posted at : https://www.accountingtoday.com/news/auditboard-releases-risk-compliance-audit-solution-riskoversight
Read MoreInternal auditors are overlooking risks
Plans for internal audits often don’t take into account some of the most common risks, such as cybersecurity, governance and sustainability, according to a new report from the Institute of Internal Auditors. Original Article Posted at : https://www.accountingtoday.com/news/internal-auditors-are-overlooking-risks
Read MoreSummary of the OECD’s Impact Assessment on Pillar 1 and Pillar 2
In February, the OECD presented its preliminary impact assessment on the Pillar 1 and Pillar 2 proposals. The impact assessment includes estimated revenue and investment effects presented at a country group level (low-, middle- and high-income countries and investment hubs). The OECD estimates global corporate income tax revenues to increase by 4 percent if both pillars get implemented,…
Read MoreHow to file Schedule H for your clients with household employees
As you’re gathering documents this tax season and preparing personal tax returns, you may come across clients who have employed domestic help in the past year. Original Article Posted at : https://www.accountingtoday.com/opinion/how-to-file-schedule-h-for-your-clients-with-household-employees
Read MoreMnuchin to ask Congress for $850B virus stimulus package
The Treasury Secretary is expected to seek a third round of coronavirus-related economic stimulus, including postponing the due date for quarterly tax payments. Original Article Posted at : https://www.accountingtoday.com/articles/mnuchin-to-ask-congress-for-850b-virus-stimulus-package
Read MoreIncome Taxes Are More Volatile Than Sales Taxes During an Economic Contraction
With GDP forecasts turning sharply negative for the quarter, states are bracing for the worst—or will be when legislative sessions resume after the suspensions many have implemented in light of the COVID-19 pandemic. On Sunday, Goldman Sachs cut its second quarter U.S. GDP estimate from 0 percent to a stunning -5 percent, which would represent…
Read MoreA spur to change
Coronavirus is an opportunity for the accounting profession to make strides in two important areas. Original Article Posted at : https://www.accountingtoday.com/opinion/a-spur-to-change
Read MoreMacroeconomic Policy In The Time Of COVID-19
COVID-19 poses a severe threat not only to public health but also to the overall U.S. economy. The Nation’s policy response should focus on three…
Read MoreAICPA proposes guidance on insurance accounting
The American Institute of CPAs’s Financial Reporting Committee released working drafts of two pieces of implementation guidance for the Financial Accounting Standards Board’s long-duration insurance contracts standard. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-proposes-guidance-on-insurance-accounting
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