Members of the public who invest through retirement plans or direct holdings have expressed increased confidence in public company auditors and audited financial information in 2019, according to a Center for Audit Quality survey. But investors' confidence in non-US markets has plummeted.
Now that net operating loss carryforwards are unlimited for tax years beginning after Dec. 31, 2017, practitioners should be rethinking the use of the waiver of NOL carryforwards when a member of a consolidated group acquires a company with NOLs.
Some employees might be more focused on impressing their managers than doing their work or building positive relationships with peers. Here are four tips for ensuring direct reports concentrate on what really matters.
Microsoft is considering ways to enhance the workday through artificial intelligence. One trend to consider is microproductivity -- the idea that assignments can be broken into small chunks.
The Stop Hacks and Improve Electronic Data Security Act, recently signed by New York's governor, expands the obligations businesses have for protecting personal data and for notifying others in the event of a breach. The Identity Theft Prevention and Mitigation Services Act, signed on the same day, adds responsibilities for credit reporting agencies.
Economic growth in the US and globally is slowing to the lowest rate in more than a decade, according to the Organization for Economic Cooperation and Development. The OECD cut its estimate of US GDP growth to 2.4% in 2019 and 2% in 2020, while the projection for global GDP was cut to 2.9% for this year and 3% for next year.
Companies are strengthening internal controls in response to a requirement from the Public Company Accounting Oversight Board that auditors disclose critical audit matters. Dry runs by large firms have shown goodwill, income tax, lease accounting and revenue recognition to be the main CAM subjects that need attention, according to studies by Intelligize and Deloitte Touche Tohmatsu.
A report from the Department of Veterans Affairs Office of Inspector General says insufficient access controls for the Beneficiary Fiduciary Field System have put personal health information and personally identifiable information at risk. An overly low risk setting by the VA Office of Information and Technology has resulted in a lack of real-time warnings for failed audit processing, the report says.