CPA Fact or Myth - Put your Risk Management IQ to the test
#1 Following professional standards alone is enough to avoid a claim.
MYTH!
12
Nov
MYTH!
MYTH!
MYTH!
05
Nov
FASB ASC 606 – Don’t Get Revenue Wrecked
by Duncan B. Will, CPA/ABV/CFF, CFE
Of course, you're relieved and exhausted – in addition to the traditional tax and accounting services you perform for your clients as their accountant and trusted adviser, you've helped them address the new tax law, consulted on a variety of issues, and assisted them with understanding and implementing the new revenue recognition standard.
Of course, you're relieved and exhausted – in addition to the traditional tax and accounting services you perform for your clients as their accountant and trusted adviser, you've helped them address the new tax law, consulted on a variety of issues, and assisted them with understanding and implementing the new revenue recognition standard.
05
Nov
New ‘Hosting Services’ Interpretation – Is Your Independence Impaired
The new "Hosting Services" ethics interpretation in the AICPA's Code of Professional Conduct (ET §1.295.143) became effective July 1, 2019. Under this interpretation, CPA independence is impaired by taking responsibility for hosting a client's data or records, but "hosting services" are broader than most CPAs originally thought.