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Accounting
Top stories summarized by our editors
7/9/2020

Economic Injury Disaster Loans can provide small businesses with low-interest pandemic assistance over a 30-year term. To help their businesses and clients, CPAs need to understand key terms these loans provide.

7/9/2020

The Federal Trade Commission says fraud related to the coronavirus pandemic has cost Americans $77.4 million, and the true tally could be higher. The data shows 62,400 instances of fraud, and nearly half has resulted in financial loss.

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CNBC
7/9/2020

The Internal Revenue Service has issued 2020 limits on depreciation deductions for cars and trucks first placed in service in 2020 and income-inclusion amounts for passenger automobiles first leased in 2020.

7/9/2020

Managers can improve retention by finding the right way to motivate employees, says ENGAGE 2020 speaker Liz Mason, CPA, CEO and founder of High Rock Accounting. Choosing the right communication style and making employees feel supported are two more ways for managers to up their game, Mason says.

7/9/2020

A surge in passion on issues of racial justice, diversity and inclusion has led to opportunities for CPAs to lead meaningful change. Members of the AICPA National Commission on Diversity and Inclusion share best practices for CPAs who are eager to support change.

7/9/2020

Having successfully navigated the initial months of the coronavirus pandemic, companies must rethink operations for the next phase of remote working. Several steps can help, such as giving employees access to innovative technology.

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CNBC
7/9/2020

The coronavirus pandemic makes remote internal auditing a necessity, but the change brings challenges. John Anderson suggests focusing an audit based on relevant regulatory standards, and he notes a need for internal audit managers to have reliable videoconference software so meetings and trainings are efficient.

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Internal Audit 360°
7/9/2020

Patricia Miller, former global chair for The IIA, has been selected to represent the institute on the board of directors of the Committee of Sponsoring Organizations of the Treadway Commission. Miller takes over after 11 years of representation by IIA President and CEO Richard Chambers.

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Internal Audit 360°
7/8/2020

A coalition of cybersecurity advocates has mobilized to fight a Senate bill, the Lawful Access to Encrypted Data Act, which they say would open the door to hackers by weakening encryption. The bill would allow law enforcement agencies with a warrant to gain access to encrypted data to track criminal suspects -- a weakening of security practices the coalition says would make it much easier for cybercriminals and foreign actors to gain access to health, financial and government data.

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Senate
7/8/2020

A surge in passion on issues of racial justice, diversity and inclusion has led to opportunities for CPAs to lead meaningful change. Members of the AICPA National Commission on Diversity and Inclusion share best practices for CPAs who are eager to support change.