The AICPA recently shared more resources that address the new beneficial ownership information (BOI) reporting requirement.
The Corporate Transparency Act, enacted in 2021 to curb illicit finance, requires many companies in the U.S. to report information about the individuals who ultimately own or control them.
The AICPA will host a free webcast on Wednesday, Feb. 21, to help practitioners evaluate their situations before providing BOI reporting services to clients.
A new article from CNA, the AICPA’s member insurance program, includes a sample engagement letter for practitioners to learn how to mitigate the unique risks CPA firms may encounter when delivering CTA compliance/BOI reporting services.
Another CNA article provides some general guidance regarding how its professional liability policies might respond to questions about potential coverage for client services.
The AICPA noted that it will continue to add and update resources on its BOI resource center.