View From the Dome | April 19, 2024
Provided by Copper Dome Strategies, LLC Judicial elections were held on Wednesday. There were numerous subcommittee and committee meetings as the clock is beginning to wind down on the [...]
Spring Splash Presents: Economic Update with Frank Rainwater
SCACPA is thrilled to once again welcome Frank Rainwater, executive director of the SC Revenue & Fiscal Affairs Office, to Spring Splash! Frank is renowned for his informative Economic [...]
Genuine Learning Blog – Improper Payments: FY23
GAO issued their Improper Payments: Information on Agencies' Fiscal Year 2023 Estimates report (GAO-24-106927) on March 26, 2024 which provides details on the $236 billion in improper [...]
Genuine Learning Blog: GASB Going Concern Uncertainties & Severe Financial Stress Survey
The GASB is soliciting user feedback for their project on Going Concern Uncertainties and Severe Financial Stress—Potential Disclosures. The survey should take about 15 minutes to complete [...]
OMB Pre-Releases Changes to Uniform Guidance
Submitted by Galasso Learning Solutions Further information will be made available as it happens. Upcoming GLS Governmental courses will feature deeper content on this topic, as will future SCACPA [...]
SCACPA Adds Its Name to Letter Voicing BOI Concerns
In a letter addressed to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), SCACPA and its peers voiced serious concerns regarding enforcing the reporting [...]
From the IRS: Transcript Delivery Service Authorization Change
Submitted by the IRS As part of the IRS’ effort to continue combatting identity theft and protecting taxpayers’ personal information, we’re making changes that will impact how tax professionals [...]
View From the Dome | March 30, 2024
Provided by Copper Dome Strategies, LLC Two-thirds of the eighteen-week legislative session has been completed, and just six weeks remain before the May 9 adjournment. Both chambers were busy [...]
Genuine Learning Blog – AICPA Regional Council Meeting
This week's blog will look at the hot topics discussed at the 2024 AICPA Regional Council Meetings held last week in NY, Dallas, LA & Chicago. While [...]
Genuine Learning Blog- 2024 ACFE Report to the Nations
The ACFE has issued their 2024 Report to the Nation. It provides an overview of fraud schemes as well as an update on the avatar of a [...]
Genuine Learning Blog – SEC Climate Disclosures
On March 6th, the SEC issued The Enhancement and Standardization of Climate-Related Disclosures for Investors after a 3 to 2 vote by the SEC Commissioners. [...]
Spring Splash Presents: Employee Retention Credits with Hale E. Sheppard
By Hale E. Sheppard, Esq. The Employee Retention Credit (“ERC”) has all the elements to ignite a major battle: Complex laws issued in rapid succession, multiple sources of administrative [...]
Genuine Learning Blog: FAF Reviews PCC
The Financial Accounting Foundation has opened an opportunity for stakeholders to provide feedback on the effectiveness of the Private Company Council (PCC). The review request [...]
Accounting Standards Effective This Year
By Jaclyn Veno, CPA, Galasso Learning Solutions LLC This article originally appeared in the Winter 2024 issue of the South Carolina CPA Report The issuance of new ASUs by the [...]
Navigating the Tough Road Ahead: Client Impacts and Practice Changes from New Ownership Reporting Rules
By W. Verne McGough, Jr. JD, LLM, Merline & Meacham, PA This article originally appeared in the Winter 2024 issue of the South Carolina CPA Report As 2024 ushers in [...]
CNA: Coverage Considerations: Services Related to the Corporate Transparency Act
Accounting firms have raised questions regarding potential coverage for services delivered to clients related to the Corporate Transparency Act (“CTA”). This article from CNA is designed to provide some general [...]
Risk Management and the Corporate Transparency Act (including sample engagement letter)
This article was originally published at https://cpai.com. The first second of the post is reprinted here with a link to the full article. The Corporate Transparency Act (“CTA” or [...]
Genuine Learning Blog: Proposed Sustainability Ethics Standard
IESBA has issued a Proposed International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the Code Relating to Sustainability [...]
Accountable Podcast: Will This Tax Season Be Taxing? with Bill Harden
Buckle up: It’s tax season. So what better time to explore all things tax? On this episode, David is joined by Bill Harden, Associate Professor at the Joseph M. Bryan School [...]
Genuine Learning Blog: ISAs for Less Complex Entities
In December, the International Auditing and Assurance Standards Board issued the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA [...]
Accountable Podcast: Creating the Firm of the Future with Samantha Bowling
Are innovations threatening accounting, finance and business — or shoring them up? Samantha Bowling, CPA, CFE, CGMA, joins host David Peters to offer her perspective. She tells the story of [...]
Genuine Learning Blog: 2024 NASBA CPE Standards Update
The AICPA & NASBA issued updated CPE Standards in January 2024. They made changes to definitions and clarified group internet based rules. They also addressed [...]
Accountable Podcast: Streamlining for Success with Cory Gayman
Whether you're a financial services professional or one of the business owners they serve, you may have some outdated processes and procedures to revisit -- especially given the hyperspeed [...]
Genuine Learning Blog: Proposed Concept Statement: Chapter 6: Measurement
In December, FASB issued a proposed chapter of the Conceptual Framework on measurement. The proposal identifies 2 systems of measurement: entry prices and exit prices. [...]
Genuine Learning Blog: Induced Conversions of Convertible Debt Instruments
In December, FASB issued a proposed ASU that helps organizations determine whether a transaction is an induced conversion or an extinguishment. The topic comes from [...]
Genuine Learning Blog: DOL Audit Quality Study Report
In November 2023, the DOL issued their Audit Quality study that found that 30% of ERISA audits from 2020 (prior to the adoption of SAS [...]
Genuine Learning Blog: GASB 102
In January 2024, GASB issued Statement 102, Certain Risk Disclosures which provides additional risk information to users beyond those currently required. The standard focuses on [...]
Genuine Learning Blog: 2023 Trends Report
The AICPA issued their 2023 Trends report which provides data on trends related to supply and demand for accounting students as well as trends related [...]
An Introduction to the Corporate Transparency Act
Submitted by Matthew B. Edwards and D. Parker Baker III of Thomas, Fisher & Edwards, P.A., Greenville Note: This article has been adapted from an article entitled “The Basic [...]
Genuine Learning Blog: 2023 Year In Review
2023 is in the record books. This blog will review the standards that were issued by the FASB, AICPA and GASB throughout the year. This [...]