Earlier this month FASB issued an exposure draft titled, Financial Instruments—Credit Losses (Topic 326): Proposed Accounting Standards Update, Measurement of Credit Losses for Accounts Receivable and Contract Assets for Private Companies and [...]
The Senate and House of Representatives met this week for their organization session in preparation for the 2025 legislative session. The 126th General Assembly will convene on January 14, 2025, [...]
🚨 Calling All Audit & Assurance Professionals! 🚨 Private equity is shaking things up in the audit world! With more PE money flowing into firms, we’re facing big questions [...]
The AICPA Fall Council Meeting was one for the books! This was Barry Melancon's last council meeting as the AICPA's CEO and included a celebratory [...]
Provided by Copper Dome Strategies, LLC The long-awaited election finally arrived this past Tuesday as South Carolinians set a new record for voting in the Palmetto State. 76% of [...]
The FASB has issued a proposal to clarify accounting for share based payments to customers to reduce diversity in practice. Comments are due November 14th. SCACPA is [...]
GASB 104 was issued in September 2024 and requires state and local governments to provide information about certain types of capital assets. Specifically lease assets reported in [...]
On September 12, the AICPA & NASBA issued an exposure draft on the CPA Competency-Based Experience Pathway, offering an additional pathway for CPA candidates to meet initial [...]
Provided by Copper Dome Strategies, LLC State economists met to review tax revenue and discuss the state of our economy. A Senate committee met to discuss the state’s growing [...]
Tune in to a sneak peek of SCACPApalooza! This week, we’re turning up the volume on Kelli Long from KG Workforce. She’s ready to rock the stage with an [...]
The AICPA has proposed changes to the independence guidance for 529 plans. The original interpretations has deemed 529 plans to be direct financial interests. Due to changes [...]
The proposed joint data standards for the Financial Data Transparency Act (FDTA) were issued in August 2024. The public is invited to make comments on the proposed [...]
Provided by Copper Dome Strategies, LLC It has been a trying and heartbreaking week in South Carolina and across the region following the arrival of Hurricane Helene last Friday, [...]
In July 2024, the Employee Benefit Plan Audit Quality Center (EBPAQC) Executive Committee issued an important letter warning auditors conducting ERISA employee benefit plan audits about the [...]
This past July, the AICPA's National Pipeline Advisory Group (NPAG) related its Accounting Talent Strategy Report to address the accounting talent shortage. This report was based off of [...]
Submitted by: SCDEW This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Employers who hire a Third-Party Administrator (TPA) to communicate [...]
The best way for tax professionals to receive new guidance from the South Carolina Department of Revenue’s Policy Division is to sign up for tax policy updates. Get new and [...]
Author: David R. Peters, CPA, CFP, CLU, CPCU This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Lately, I cannot go a day without [...]
Author: J William Strickland, MBA, JD This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report As we navigate through 2024, South Carolina’s tax landscape [...]
Author: Liz Peuster, CAE This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report The ongoing impact of generative AI cannot be understated. This technology [...]
Author: Jaclyn Veno, CPA This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Occupational fraud poses a significant risk to organizations of all sizes [...]
Author: Doug Van Dyke, CEO, Leadership Simplified This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Recently, I had the pleasure of speaking at [...]
Submitted by: SCDOR This article originally appeared in the Summer 2024 issue of the South Carolina CPA Report Whether you are looking forward to cooler weather or looking back on [...]
GLS is celebrating their 300th blog! This one is a very exciting one! The FASB has issued a proposed ASU, DERIVATIVES SCOPE REFINEMENTS AND SCOPE CLARIFICATION FOR [...]
This past June, the AICPA has issued SSAE No. 23, Amendments to the Attestation Standards for Consistency With the Issuance of AICPA Standards on Quality Management. SSAE [...]
The AICPA's Financial Reporting Executive Committee has issued an early working draft of chapter 8, "Inferring Value From Transactions in a Private Company's Securities," and chapter 9, [...]
The Internal Revenue Service today announced tax relief for individuals and businesses in four states affected by Hurricane Debby. Affected taxpayers in South Carolina, North Carolina, Florida and Georgia [...]
The GAO has issued proposed changes to the Standards for Internal Control in the Federal Government (the Green Book) which were last updated in 2014. The proposal [...]
SCACPA continues its steadfast commitment to fostering the next generation of Certified Public Accountants. In alignment with its objective to propel promising students into the CPA profession, the SCACPA [...]
The Government Finance Officers Association (GFOA) has recently issued a report on Why GFOA is Rethinking Financial Reporting. Annual financial reports take a considerable amount of time and [...]