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10 million U.S. taxpayers faced IRS penalties in 2016
The Internal Revenue Service says that about 10 million taxpayers were hit with a penalty in 2016, and is offering tips to reduce or eliminate penalties in 2017 and future years.
Best business books 2017
Explore the year's best business book in seven categories.
Financial Reporting Executive Committee offers more revenue recognition working drafts
FinREC is seeking public comment on working drafts that provide industry-specific guidance for entities implementing FASB's new revenue recognition standard. Comments are due by Jan. 2, 2018.
FASAB addresses intragovernmental exchanges, component reporting
The Federal Accounting Standards Advisory Board (FASAB) issued technical bulletins Wednesday related to accounting for intragovernmental exchange transactions and assigning assets to component reporting entities.
How a powerful vision for your firm can overcome the talent shortage
The AICPA's 2017 PCPS CPA Firm Top Issues Survey indicated that finding and retaining qualified staff remains a top concern for accounting firms of all sizes. Therefore, it's important for firm leaders to clearly communicate the vision for their...
Trump announces nomination of Jerome Powell to chair Federal Reserve
President Trump announced Thursday that he will nominate Federal Reserve Governor Jerome Powell to be chairman of the central bank. Powell, a Republican appointed to the Fed by President Obama in 2012, served as a Treasury Department...
Tax-reform legislation revealed
The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in Republicans' September tax-reform framework while providing new details. The bill features new tax rates, a lower limit on the...
Companies continue to increase transparency of external audit oversight
Investors and other stakeholders continue to gain access to more information about how audit committees choose and oversee external audit firms, according to an analysis by the Center for Audit Quality and Audit Analytics.
What to know about hiring Gen Z to your firm
EY (formerly Ernst & Young) recently gained insight into some of the key employment priorities of Gen Z when it surveyed more than 1,600 Gen Z interns from 29 countries at its 21st annual International Intern Leadership Conference (IILC). The...
Topping the list: Japan. The countries most likely to be affected by automation
Automation is inevitable, but its impact won't be felt evenly across the globe, according to a recent McKinsey Global Institute report.

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