A&A news

A&A

Bramwell’s Lunch Beat: The Deals Within Tax Inversion Deals

The menu for July 7 features specials on PCAOB likely to vote on naming engagement partner proposal by year’s end, EU widens its tax inquiry of multinational firms, SEC final pay rules coming soon, and more.
A&A

How to Use Investment-Related Tax Breaks

Can you deduct the costs of traveling to investment seminars and shareholders' meetings? The IRS draws some very fine lines on these investment expenses, but the courts have shown some flexibility.
A&A

Bramwell’s Lunch Beat: Pot Shop Challenging IRS Penalties

The menu for July 3 features specials on lawmakers throw the book at tax scofflaws to raise revenue, states take lead on gas tax increases, GOP presses Justice to act on Lois Lerner contempt citation, and more.
A&A

Bramwell’s Lunch Beat: Longevity Annuities Get Boost from US Treasury Department

The menu for July 2 features specials on SEC bars accounting firm from auditing US-traded companies in China, True the Vote/IRS court hearing next week, tax strategy used by Illinois governor hopeful, and more.
A&A

AICPA Adds Two More Audit Interpretations on GASB Pension Rules

The AICPA's Auditing Standards Board this week issued two new audit interpretations intended to help auditors navigate GASB's pension accounting guidelines for state and local governments.
A&A

Audits of Special Purpose Frameworks: Error Analysis

Good error analysis should be performed as an auditor evaluates the results of specific auditing procedures, and should contain both quantitative and qualitative analysis.
A&A

Bramwell’s Lunch Beat: The 411 on ‘Critical Audit Matters’

The menu for July 1 features specials on many states cut taxes as their fiscal years’ begin, PCAOB finds deficiencies in 19 of 59 PwC audits, challenge of Colorado’s sales tax law heads to Supreme Court, and more.
A&A

Many Finance Execs Like Way Economy Is Heading: Survey

For the first time since 2006, more than 50 percent of CFOs believe the economy will show signs of improvement over a six-month span rather than remain the same or worsen, according to a new study from Grant Thornton LLP.
A&A

Bramwell’s Lunch Beat: Ready or Not, FATCA Is Almost Here

The menu for June 30 features specials on GOP Rep. Darrell Issa says Lois Lerner violated agency regulations and laws regarding emails, SEC suspends two KPMG auditors, AICPA launches new future of learning site, and more.
A&A

Bramwell’s Lunch Beat: A Look at Hertz’s Accounting Red Flags

The menu for June 27 features specials on US/China agree to terms on FATCA pact, Big Four firms oppose Hong Kong protest, KPMG buys boutique investment bank, Deloitte names new CEO of audit practice, and more.
A&A

Finance Teams’ Roles Continue to Expand: AICPA Survey

The responsibilities of the CFO and other finance professionals have moved beyond corporate accounting and financial reporting, and now include strategic business planning, IT development, and cybersecurity, among other areas.
A&A

Bramwell’s Lunch Beat: House Panel Checks Off More Tax Breaks From Its List

The menu for June 26 features specials on vote on Wyden’s highway fund plan on hold, ex-lawyer gets 15 years in tax fraud case, Regions Financial to pay $51 million to settle accounting error, and more.
A&A

FASB Fills Hole in Stock Compensation Accounting Rules

The standard-setting board last week finalized new accounting guidance on stock compensation – specifically on how to account for share-based payments, which is absent from current US GAAP.
A&A

Auditing Special Purpose Frameworks: To Sample or Not to Sample?

The sampling requirements in the Clarified Auditing Standards are applicable when sampling populations are material and other procedures are not used to satisfy audit objectives.
A&A

Bramwell’s Lunch Beat: The IRS Has Got the Archivin’ Blues

The menu for June 25 features specials on DC Council approves “yoga tax,” AICPA sends second letter to IRS against proposed voluntary preparer certification program, Walgreen won’t rule out inversion, and more.
A&A

Joint Accounting Rule on Leases May Not Happen in 2014

During a speech at the IMA's 95th Annual Conference and Exposition on Monday morning, FASB Chairman Russell Golden said he did not expect the converged leases standard to be finished "until the latter half of 2015."
A&A

Bramwell’s Lunch Beat: KPMG Gobbles Up Another Tech Business

The menu for June 24 features specials on IRS chief grilled again over lost emails, Shire puts an end to AbbVie’s inversion plans, not much support for gas tax hike, “Yoga Tax” vote today in DC, and more.
A&A

Bramwell’s Lunch Beat: No Apology From John Koskinen Over Lost IRS Emails

The menu for June 20 features specials on ParenteBeard and Baker Tilly talk merger, US Supreme Court rules in favor of IRS on summons issue, CAQ releases auditor reporting field-testing findings, and more.
A&A

Bramwell’s Lunch Beat: A Bipartisan Pitch for a Gas Tax Hike

The menu for June 19 features specials on BDO USA names new CFO, lost Lois Lerner emails likely gone for good, House Ways and Means aide subpoenaed in trading probe, Medtronic investors will take big tax hit, and more.
A&A

Auditing Special Purpose Frameworks: Materiality Levels

Calculating financial statement materiality levels under the auditing standards is framework neutral. The concepts are the same for all financial reporting frameworks.

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