Industry News
Accounting
Top stories summarized by our editors
9/24/2020

With fewer people driving because of work-from-home and social distancing trends, some states have raised taxes on gas to close the gap for revenue needed to repair roads. Gasoline demand remains below the typical level, and the national average price of gasoline was 49 cents lower than the price a year ago as of Tuesday, according to AAA.

Full Story:
USA Today
9/24/2020

IIA President and CEO Richard Chambers explores skepticism of clients and discusses how internal auditors can build trust. He writes: "We are hardly helping if we are auditing the molehills while the mountain sits in the distance. But clients still can be skeptical of our intentions -- even if we are 'following the risks.' "

More Summaries:
Richard Chambers
9/24/2020

In some cases, people might save more for retirement than they actually need. That's not necessarily a bad thing, but it could be counterproductive if they must skip meaningful opportunities in their pre-retirement life or must maintain an elevated debt load.

9/24/2020

Businesses are taking numerous precautions to keep people safe and have plans for addressing future office-space needs.

9/24/2020

The forgiveness aspect of the Paycheck Protection Program remains a source of uncertainty for CPAs. This collection of facts and FAQ can help CPAs understand what to do amid the confusion.

9/24/2020

Attempting to maximize tax deductions at all costs can carry nontax risks, as a recent federal court case illustrates.

Full Story:
The Tax Adviser
9/24/2020

Several factors, including individual biases and a reliance on hierarchy, can negatively affect the decision-making process of a group. Here are seven suggestions for getting better input from a group.

9/24/2020

Smart home technology can refer to products and capabilities ranging from the simple to the complex. Here is a guide for navigating this landscape.

9/24/2020

Hispanic-owned businesses are growing faster than ever. That's one reason Tony Torres, chief inclusion officer of audit and assurance at Deloitte & Touche LLP, says fostering diversity and inclusion in US accounting firms is increasingly essential -- particularly for the benefit of future CPAs.

Full Story:
AICPA Insights
9/24/2020

The Securities and Exchange Commission has voted to amend rules that govern its whistleblower program and the amount a shareholder must hold to have a proposal included in a company's proxy statement.