Podcasts about exposure draft

Today, Blake, David, and special guest, ChatGpt, examine the impact of private equity on accounting firms, looking at how PE ownership affects partner compensation and firm structures. They dig into some recent data showing record numbers of accounting errors in public companies, linking these issues to the broader talent shortage crisis. Next, they explore CalCPA's pushback against proposed licensing changes, the surprising economic costs of Daylight Savings Time, and much more!  SponsorsLiveFlow - http://accountingpodcast.promo/liveflowSuralink - http://accountingpodcast.promo/suralinkSmartVault - http://accountingpodcast.promo/smartvaultTaxBandits - http://accountingpodcast.promo/taxbanditsChapters(00:59) - Introducing ChatGPT as Co-Host (01:58) - Hot Topics in Accounting News (04:05) - Private Equity in Accounting Firms (07:35) - Debating the Impact of Private Equity (22:40) - DirectFile Controversy (28:02) - App News and Updates (34:23) - Enron's Return? (38:28) - Fraudsters and Presidential Pardons (42:00) - Accounting Errors on the Rise (44:52) - The Daylight Savings Debate (50:04) - AI Tools: The Good, The Bad, and The Ugly (58:26) - Final Thoughts and Announcements  Show NotesAccounting errors force US companies to pull statements in record numbershttps://www.ft.com/content/716c4ad5-e8fa-4a34-afba-9fb2d1db019d Republican lawmakers ask Trump to kill IRS Direct Filehttps://www.nextgov.com/digital-government/2024/12/republican-lawmakers-ask-trump-kill-irs-direct-file/401595/ IRIS to buy Dext in £500m dealhttps://www.accountingweb.co.uk/tech/accounting-software/iris-to-buy-dext-in-ps500m-deal How Private Funds Could Hurt Americans Under Trumphttps://www.nytimes.com/2024/12/03/opinion/trump-presidency-billionaires.html LegalZoom and 1-800Accountant Join Forces to Deliver Full-Service Tax and Bookkeeping Solutions for Small Business Ownershttps://investors.legalzoom.com/news-releases/news-release-details/legalzoom-and-1-800accountant-join-forces-deliver-full-service Zoho Releases New Payroll Solution in the U.S.https://www.cpapracticeadvisor.com/2024/12/13/zoho-releases-new-payroll-solution-in-the-u-s/152935/ BILL Unveils 1099 Form Filing Solution for SMBshttps://investor.bill.com/news/news-details/2024/BILL-Unveils-1099-Form-Filing-Solution-for-SMBs/default.aspx Is Enron back? Here's what we know … https://www.houstonchronicle.com/news/houston-texas/trending/article/is-enron-back-houston-19953844.php CalCPA Submits Comments on Exposure Draft on CPA Licensurehttps://www.calcpa.org/whats-happening/articles/calcpa-submits-comments-on-exposure-draft-on-cpa CEOs Want Trump to Change Course on Tariffs. He Isn't Budging.https://www.wsj.com/economy/trade/trump-tariff-plan-business-lobbying-8f02ccea Donald Trump vows to end daylight saving timehttps://www.youtube.com/watch?v=EDR1IURzO1QMore Than a Lost Hour of Sleep: The True Cost of Daylight Saving Timehttps://www.chmura.com/blog/dst#:~:text=our%20methodology%20below.-,Results,was%20approximately%20%24672.02%20million%20annuallyNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsForwardly - https://www.forwardly.com/Client Hub - https://clienthub.app/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, ...

Your AM Now hosts Adam Olsen and Matt Fisser are back to bring you what's happening in accounting and finance, including stories on:The FASB's proposed ASU on the scope of derivative accounting and share-based payments from customers.The IASB's recently completed review of IFRS 15 and IFRS for SMEs Accounting Standard along with some final decisions on their rate-regulated activities project.The recently released Exposure Draft proposing amendments to IFRS 19, Subsidiaries without Public Accountability: DisclosuresThe proposed inclusion of illustrative examples in the IFRS standards to enhance the reporting of climate-related and other uncertainties in financial statements.The recently released set of FAQs from the Greenhouse Gas Protocol to help companies in applying their standards.For more on this week's topics:Proposed Accounting Standards Update, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606)IFRS, Rate-Regulated ActivitiesIFRS Exposure Draft, Amendments to IFRS 19 Subsidiaries without Public Accountability: DisclosuresIFRS Exposure Draft, Climate-related and Other Uncertainties in the Financial StatementsGreenhouse Gas Protocol, ​​Corporate Standard Frequently Asked QuestionsConnect with Embark on: LinkedInInstagramTwitterFacebookYouTubeListen to AM Now on Apple Podcasts and Spotify.

In the May 2024 IASB podcast, IASB Executive Technical Director Nili Shah, IASB Vice-Chair Linda Mezon-Hutter and IASB Member Nick Anderson discuss: stakeholder feedback from the Exposure Draft related to the Financial Instruments with Characteristics of Equity project (01:28); and developments in the Post-implementation Review of IFRS 9—Impairment project (05:29).

Surrendering of insurance policies will likely no longer be a loss-making affair. Insurance regulator IRDAI has proposed to increase the surrender value for policies among key changes in the product design of life, health and general insurance. We caught up with Akshay Dhand, Appointed Actuary at Canara HSBC Life Insurance to understand all about it.

IASB Chair Andreas Barckow, Vice-Chair Linda Mezon-Hutter and Executive Technical Director Nili Shah highlight discussions about three key projects, from the November IASB Update podcast. The projects are: Business Combinations under Common Control; the Post-implement Review of IFRS 9—Impairment; the Provisions project; and insight into the upcoming Exposure Draft on Financial Instruments with Characteristics of Equity.

In this episode in our Tax Bites series, Professor Graeme Cooper and partners Ryan Leslie and Toby Eggleston unpack the just released Exposure Draft on changes to Australia's thin capitalisation regime aimed at limiting interest deductions for Australian taxpayers. 30 years of tax history packed into under 30 minutes! More details here: https://hsfnotes.com/taxaustralia/2023/03/17/tax-insight-new-limits-on-deducting-interest/

The Appraisal Standards Board (ASB) announced this week there will be a 5th Exposure Draft to the proposed changes to USPAP.  Will they get this completed to have a new edition of USPAP by January 2024? Only time will tell, but they are running out of time. I also offer a quick tip in this podcast of how to secure some referrals for your services. Listen in to this fully packed episode.* * * * * * * * * * * * *At Appraiser eLearning, we're here to help our fellow professionals.  Our motto: Learn because you want to.We're more than just a CE shop. We offer free training and resources to our community of followers. So next time you're on the road or have some free time, download an episode of “The Appraisal Update Podcast,” or tune into our free monthly webinar, “The Appraisal Report Webinar.” Appraiser eLearning is the trusted resource for appraisers – available 24/7, anywhere, from any device. It's all online, and it's all flexible.https://appraiserelearning.com

What's happening that will soon impact appraisers? USPAP is likely to change, and the Fourth Exposure Draft is out and waiting for your input. Craig Morley explains what an exposure draft is and why it's important for appraisers to get involved. Do you like and support the proposed changes or hate them? All interested parties are encouraged to comment in writing to the ASB before the deadline of February 3, 2023. Help shape the future of the appraisal profession!* * * * * * * * * * * * *At Appraiser eLearning, we're here to help our fellow professionals.  Our motto: Learn because you want to.We're more than just a CE shop. We offer free training and resources to our community of followers. So next time you're on the road or have some free time, download an episode of “The Appraisal Update Podcast,” or tune into our free monthly webinar, “The Appraisal Report Webinar.” Appraiser eLearning is the trusted resource for appraisers – available 24/7, anywhere, from any device. It's all online, and it's all flexible.https://appraiserelearning.com

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process.In this episode, PwC partner Jennifer Spang joins us to discuss year-end income tax accounting reminders and what you need to know about recent tax law changes and standard setting activity. In this episode, you will hear reminders on:1:12 - Valuation allowances and the pressure on realizability from rising interest rates5:42 - Goodwill impairment and the simultaneous equation8:08 - Tax law changes, including proposed foreign tax credit regulations13:02 -  Developments related to the OECD's Pillar II framework17:29 - The Inflation Reduction Act and what it means for 2023 reporting27:31 - Standard setting developments, including the upcoming Exposure Draft on the FASB's income tax disclosure project 36:06 - Final advice for year-end reporting and the importance of staying in front of tax law changesStay tuned for the next episode in our Year-end toolkit series. Listen to previous podcasts in our Tax toolkit series in which we discuss valuation allowances and uncertain tax positions. For more information read our summary of accounting considerations in uncertain times, our summary of Pillar II, and our Income taxes guide. In addition, check out our Financial statement presentation guide for information on the presentation and disclosure of income taxes.Jennifer Spang is a partner in PwC's National Office who serves as the income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters.Heather Horn is PwC's National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC's accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather's accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

Unusually, Parliament has sent a draft bill to select committee for public feedback with a general call for ideas on improving consents.

Unusually, Parliament has sent a draft bill to select committee for public feedback with a general call for ideas on improving consents.

Join Andrea Pryde, Mercedes Baño  and Sergio Cravero for a discussion on the issues addressed by the IASB’s Exposure Draft on Lack of Exchangeability (Amendments to IAS 21).

Highlights from the IPSASB September 2020 virtual meeting:00:00     Welcome and introduction00:36     Chair’s meeting overview02:10     Approval of COVID-19: Deferral of Effective dates 03:12     Approval of Non-Authoritative Amendments to IPSAS 41, Financial Instruments 04:14     Approval of Exposure Draft 74, IPSAS 5, Borrowing Costs, Non-Authoritative Guidance 06:02     Approval of Exposure Draft 79, Assets Held for Sale and Discontinued Operations 07:20     Natural Resources 10:17     Conceptual Framework - Limited Scope update11:12     Measurement17:02     Closing Remarks

Highlights from the IPSASB September 2020 virtual meeting:00:00 Welcome and introduction00:36 Chair’s meeting overview02:10 Approval of COVID-19: Deferral of Effective dates 03:12 Approval of Non-Authoritative Amendments to IPSAS 41, Financial Instruments 04:14 Approval of Exposure Draft 74, IPSAS 5, Borrowing Costs, Non-Authoritative Guidance 06:02 Approval of Exposure Draft 79, Assets Held for Sale and Discontinued Operations 07:20 Natural Resources 10:17 Conceptual Framework - Limited Scope update11:12 Measurement17:02 Closing Remarks

There's plenty of talk on radio, but with 20twenty you'll find Life, Culture & Current events from a Biblical perspective. Interviews, stories and insight you definately won't hear in the mainstream media. This feed contains selected content from 20twenty, heard every weekday morning. See www.vision.org.au for more details Help Vision to keep 'Connecting Faith to Life': https://vision.org.au/donate See omnystudio.com/listener for privacy information.

This podcast, hosted by R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Managing Director of Research highlights Exposure Draft: Pri-2012 Private Retirement Plans Mortality Tables. Please leave a review on iTunes if you've enjoyed this podcast!  If you have any questions, please contact researchinsights@soa.org

This podcast, hosted by R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Managing Director of Research highlights the Exposure Draft: Pub-2010 Public Retirement Plans Mortality Tables. Please leave a review on iTunes if you've enjoyed this podcast!  If you have any questions, please contact researchinsights@soa.org.

ANDY CROWE ● BILL YATES ● NICK WALKER ● LOUIS ALDERMAN NICK WALKER:  Welcome to Manage This, the podcast by project managers for project managers.  This is our chance to meet and talk with you about project management certification, as well as all the issues that matter to you as a professional project manager. I'm Nick Walker, and with me are the guys who can rightfully be called project management experts.  They have the answers to your questions:  Andy Crowe and Bill Yates.  Plus, we are overflowing with experts today.  With us, Louis Alderman, the manager of curriculum development at Velociteach.  I guess that's why we have a round table in our studio instead of a square one because we'd run out of corners otherwise.  Louis, great to have you here with us. LOUIS ALDERMAN:  Thank you. NICK WALKER:  Let's just start off with you.  You know, tell us a little bit about yourself.  When did you join the Velociteach team? LOUIS ALDERMAN:  I came to Velociteach in 2005.  I was a customer of Velociteach and a firm believer in the process of Velociteach because it worked for me. NICK WALKER:  Aha. LOUIS ALDERMAN:  So that was my first exposure to Velociteach.  And the longer I've been with the organization, the team, the better and better I feel about it.  So it's just been a growth. BILL YATES:  Louis, you said you were a customer.  Who was your instructor? LOUIS ALDERMAN:  I was privileged to have Andy Crowe as my instructor. NICK WALKER:  How about that? LOUIS ALDERMAN:  A young man at the time that I was very impressed with.  He had a lot going.  And so... BILL YATES:  Back in the day. LOUIS ALDERMAN:  Yeah.  He really represented Velociteach very well. BILL YATES:  That's great. NICK WALKER:  Well, so you've been in the trenches yourself.  Tell us a little bit about that, maybe some of your experience. LOUIS ALDERMAN:  Well, I started directly out of college working for Hewlett-Packard Company.  That was my first employer.  And I worked for HP for almost 29 years.  And then I took an early retirement and within the same week went to work for Velociteach.  So it was sort of a planned project transition, so it worked well for me. At HP I had various lives and started off in technical support engineering, where I actually had my first tour of training in education by developing training for other engineers on our products and how to support them.  That was about 25 percent of my career at HP.  I spent another 25 percent in sales, enjoying going out and visiting and selling to other computer companies at the time. The second half of my career at HP I had tours of duty as a business process analyst.  I was an IT project manager about 30 percent of my experience at HP.  And then I served about another 10 percent there in the project management office, working with portfolio management and process design.  So it was a great run.  And I'm right where I'm supposed to be. NICK WALKER:  Excellent.  Which is right here with us.  We thank you so much for being here with us.  And we will see you from time to time again, I'm sure, on this round table. LOUIS ALDERMAN:  Looking forward to it. NICK WALKER:  Hey, let's jump right in.  One of the things about this podcast, at least for me, is that almost every time we meet, I tend to learn a new word, a new phrase, a new concept, sometimes a new abbreviation or acronym.  And one of those is the main topic of today's podcast.  It is – drum roll, please – the PMBOK Guide, PMBOK, P-M-B-O-K.  And that to me is kind of a mysterious one.  So Andy, this is my educational moment; okay?  What is the PMBOK Guide? ANDY CROWE:  Well, it's a very important document for us, Nick, as project managers.  It's an acronym, and it actually stands for a guide to the Project Management Body of Knowledge.  So it's a book.  And it's a big, thick book.  It's an ANSI standard.  And I believe it is the only ANSI standard for project management out there ri...

ANDY CROWE ● BILL YATES ● NICK WALKER ● LOUIS ALDERMAN NICK WALKER:  Welcome to Manage This, the podcast by project managers for project managers.  This is our chance to meet and talk with you about project management certification, as well as all the issues that matter to you as a professional project manager. I’m Nick […] The post Episode 8 – 6th Edition Exposure Draft appeared first on PMP Certification Exam Prep & Training - Velociteach.

In the wake of the sovereign debt crisis, the International Public Sector Accounting Standards Board (IPSASB) is facing increasing demands for its standards and for guidance on their adoption and implementation.During this audio podcast, Acting Technical Director John Stanford interviews Chair Andreas Bergmann and Senior Technical Manager Gwenda Jensen on the IPSASB's recent standard-setting work and other key projects discussed its September 22-25, 2015, meeting. :05 - Introduction:35 - Chair's Opening Remarks 1:06 - Exposure Draft 57, Impairment of Revalued Assets1:36 - Exposure Draft 58, Improvements to IPSAS 20152:32 - Cash Basis IPSAS2:55 - Public Sector Combinations3:24 - Emissions Trading Schemes6:12 - Heritage Assets9:08 - Governance and Appointment of Incoming IPSASB Chair13:07 - Next meeting

In the wake of the sovereign debt crisis, the International Public Sector Accounting Standards Board (IPSASB) is facing increasing demands for its standards and for guidance on their adoption and implementation.During this audio podcast, Acting Technical Director John Stanford interviews Chair Andreas Bergmann and Senior Technical Manager Gwenda Jensen on the IPSASB's recent standard-setting work and other key projects discussed its September 22-25, 2015, meeting. :05 - Introduction:35 - Chair's Opening Remarks  1:06 - Exposure Draft 57, Impairment of Revalued Assets1:36 - Exposure Draft 58, Improvements to IPSAS 20152:32 - Cash Basis IPSAS2:55 - Public Sector Combinations3:24 - Emissions Trading Schemes6:12 - Heritage Assets9:08 - Governance and Appointment of Incoming IPSASB Chair13:07 - Next meeting

In this audio podcast, hosted by IAASB Technical Director Kathleen Healy, Chairman Arnold Schilder, Deputy Chair Chuck Landes, and IAASB members Brendan Murtagh and Megan Zietsman provide an overview of activities conducted during the IAASB’s June 15-19, 2015, meeting in New York.:05 - Introduction:31 - Chairman's Overview2:51 - Approval of NOCLAR Exposure Draft 4:37 - ISA 810 approval of Exposure Draft, ISA 800 and 805 review5:21 - Quality Control and Group Audits8:56 - Agreed-upon Procedures, Integrated Reporting, and Professional Skepticism.13:40 - Chairman's Closing Remarks15:10 - Next meeting

In this audio podcast, hosted by IAASB Technical Director Kathleen Healy, Chairman Arnold Schilder, Deputy Chair Chuck Landes, and IAASB members Brendan Murtagh and Megan Zietsman provide an overview of activities conducted during the IAASB’s June 15-19, 2015, meeting in New York.:05 - Introduction:31 - Chairman's Overview2:51 - Approval of NOCLAR Exposure Draft 4:37 - ISA 810 approval of Exposure Draft, ISA 800 and 805 review5:21 - Quality Control and Group Audits8:56 - Agreed-upon Procedures, Integrated Reporting, and Professional Skepticism.13:40 - Chairman's Closing Remarks15:10 - Next meeting

In this audio podcast, hosted by IAASB Technical Director Kathleen Healy, Chairman Arnold Schilder, Deputy Chair Chuck Landes, and IAASB members Brendan Murtagh and Megan Zietsman provide an overview of activities conducted during the IAASB’s June 15-19, 2015, meeting in New York.:05 - Introduction:31 - Chairman's Overview2:51 - Approval of NOCLAR Exposure Draft 4:37 - ISA 810 approval of Exposure Draft, ISA 800 and 805 review5:21 - Quality Control and Group Audits8:56 - Agreed-upon Procedures, Integrated Reporting, and Professional Skepticism.13:40 - Chairman's Closing Remarks15:10 - Next meeting 

In June 2012 an Invitation to Comment was published by the IAASB, asking for feedback on a range of proposed changes to the structure and content of the auditor’s report, aiming to enhance its usefulness for decision making. In July 2013 an Exposure Draft was issued which specifies the revisions planned to be made to a suite of International Standards on Auditing (ISAs), changes that will mark a substantial change in the way that auditors report their findings. This podcast provides a summary of the main issues featured in the Invitation to Comment.

Podcast: IAESB Chair Peter Wolnizer and IAESB members Eileen Walsh and David Simko review key developments from the Education Board's June 23-25, 2014, meeting in New York. Introduction - :50IES 8 Exposure Draft - 1:55 2014-2016 Strategy and Work Plan - 6:05 Update on the Framework - 9:55Chair's closing remarks - 13:55

Podcast: IAESB Chair Peter Wolnizer and IAESB members Eileen Walsh and David Simko review key developments from the Education Board's June 23-25, 2014, meeting in New York. Introduction - :50IES 8 Exposure Draft - 1:55 2014-2016 Strategy and Work Plan - 6:05 Update on the Framework - 9:55Chair's closing remarks - 13:55

Podcast: IAESB Chair Peter Wolnizer and IAESB members Eileen Walsh and David Simko review key developments from the Education Board's June 23-25, 2014, meeting in New York. Introduction - :50IES 8 Exposure Draft - 1:55 2014-2016 Strategy and Work Plan - 6:05 Update on the Framework - 9:55Chair's closing remarks - 13:55

Highlights from the IPSASB's December 2-5, 2013, meeting in Ottawa, Canada. :22 – IASB and IPSASB Conceptual Frameworks2:00- Conceptual Framework: Elements and Recognition4:00 - Conceptual Framework: Measurement and Conceptual Framework: Presentation6:26 - Exposure Draft for Recommended Practice Guideline: Service Performance Information 7:57 – Emissions Trading Schemes9:41 - Update on IPSASB members10:33 – Chair’s 2014 Outlook

Highlights from the IPSASB's December 2-5, 2013, meeting in Ottawa, Canada. :22 – IASB and IPSASB Conceptual Frameworks2:00- Conceptual Framework: Elements and Recognition4:00 - Conceptual Framework: Measurement and Conceptual Framework: Presentation6:26 - Exposure Draft for Recommended Practice Guideline: Service Performance Information 7:57 – Emissions Trading Schemes9:41 - Update on IPSASB members10:33 – Chair’s 2014 Outlook

Randall Sogoloff, Leader for Communications in the Deloitte IFRS Global Office, and Phil Barden, Leader for Deloitte's Global Revenue Recognition team, discuss the new Revenue Recognition exposure draft 'Revenue from Contracts with Customers' with Robert Bruce. They discuss the key changes that are proposed and provide insights into the likely effect they will have in practice.

On April 28, 2009, the AICPA’s Accounting and Review Services Committee released an exposure draft that would revise the standards for compilation and review engagements. The changes, designed to address concerns of small businesses, users of small-business financial statements and CPAs who serve smaller entities, would allow an accountant to issue a review report on financial statements when also performing nonattest services that were designed to improve the reliability of the client's financial information. In addition, the proposed standard would harmonize review standards with the International Auditing and Assurance Standards Board’s review standard ISRE No. 2400 as well as recodify AR section 100, Compilation and Review of Financial Statements, into separate chapters for compilation and review engagements. In this podcast, the staff liaison to the ARSC and the Chair of the ARSC Reliability Task Force continue their discussion of the proposed SSARSs.

On April 28, 2009, the AICPA’s Accounting and Review Services Committee released an exposure draft that would revise the standards for compilation and review engagements. The changes, designed to address concerns of small businesses, users of small-business financial statements and CPAs who serve smaller entities, would allow an accountant to issue a review report on financial statements when also performing nonattest services that were designed to improve the reliability of the client's financial information. In addition, the proposed standard would harmonize review standards with the International Auditing and Assurance Standards Board’s review standard ISRE No. 2400 as well as recodify AR section 100, Compilation and Review of Financial Statements, into separate chapters for compilation and review engagements. In this podcast, the staff liaison to the ARSC and the Chair of the ARSC Reliability Task Force discuss the proposed SSARSs.

This episode is a re-release of the AICPA Tax Briefing for State Society Leaders conference call that took place January 12 - 13, 2009. Below, please find a summary of the major points covered in the call. FIN 48—There are two important FASB requirements for accounting for uncertain tax positions of non-public companies that your firm needs to do right now, and as the tax person in your firm or business, you’ll undoubtedly be involved. On October 15, 2008, FASB deferred the effective date of FIN 48 (Financial Interpretation No. 48, Accounting for Uncertainty in Income Taxes) for all non-public companies for one year, until 2009 for calendar-year companies. However, that means that in January of 2009, calendar-year private companies should complete a FIN 48 analysis of their year-beginning tax positions so that they can record the effect of the change in accounting method at the end of 2009. This analysis could be “backed into” later in the year, but as time passes it will be more difficult to recall all tax positions (not just those that are unlikely) for all types of taxes for all open years in all jurisdictions and what the level of certainty and values were under the law at the beginning of the year. So if a company has not already done this analysis and if it wants to report in accordance with GAAP, the earlier it starts now, the better. Another new FASB requirement relates to 2008 financials and any interim 2009 financial statements. A FASB Staff Position (FSP) was issued on December 30 that added reporting requirements for private companies that elect to defer the effective date for the adoption of FIN 48. Specifically, they must explicitly disclose that they are electing to defer the effective date and also disclose the company’s accounting policy for evaluating uncertain tax positions. This applies to 2008 financials and interim 2009 financials, until FIN 48 is adopted. The FSP doesn’t discuss specifics, but unless a company has something unusual, we hope that some standard language will suffice, such as “Management has elected to defer the application of FAS FIN 48, Accounting for Uncertain Tax Positions in accordance with FSP FIN 48-3. The Company will continue to follow FAS 5, Accounting for Contingencies, until it adopts FIN 48.” Additional information on FIN 48 for private companies is included in the February issue of The Tax Adviser magazine that most Tax Section members receive. Tax Practice Guides and Checklists—Tax section members receive an annual package of over 600 pages of engagement letters, organizers, checklists, and other practice guides, and they’re now posted online . These include return-specific checklists for preparing and reviewing tax returns. Some forms checklists come in simple and complex versions so that, for instance, you don’t have to use a complex individual return checklist for a child’s return. These practice guides are carefully prepared and reviewed by fellow practitioners for your use. They are up-to-date through the Emergency Economic Stabilization Act of 2008, and subsequent developments will be reported in your Tax Section E-Alerts. In prior years, we sent a CD-ROM version of the checklists, but to avoid delays in scribing and mailing the CDs and with most members now having broadband internet, this year we’re only distributing the checklists. You’ll have to log on and be recognized as a tax section member to access this premium web content, and if you’re not a member, you can join online at aicpa.org/tax or on the phone at 800/513-3037. Each document may be downloaded to your computer directly allowing you to use any or all of the Practice Guides and checklists at your convenience and without requiring you to be logged on to the AICPA web site. A “one click” option allows you to download the entire package in a few moments directly to your computer. Audio E-Alerts—Tax Section member receive bi-weekly emailed e-alerts that report current developments in tax law and practice. This emailed alert is necessarily brief and to the point, and we’re beginning expanded version in bi-weekly audio e-alerts that can be uploaded to your MP3 player or listened to online. Each alert will be approximately 15-20 minutes in length and can be accessed online. These audio alerts are available to AICPA members without charge, but they do not contain the links to the source documents that are included in the emailed version that goes to Tax Section members. These audio alerts may be of particular interest to younger staff and will help them become more knowledgeable about current tax developments. SSTS Exposure Draft—The AICPA Tax Division recently issued an Exposure Draft of revisions to the Statements on Standards for Tax Services (SSTSs). The draft addresses changes in federal and state tax laws affecting the provisions in SSTS No. 1, Tax Return Positions, and No. 8, Form and Content of Advice to Taxpayers, and also members’ requests for clarification. Corresponding revisions to the current SSTS Interpretations will be made at a later date. Revisions to SSTS No. 1 are proposed to clarify the need to satisfy both the AICPA standards and the standards of the applicable taxing authority. Revisions to SSTS No. 8 are proposed to address new requirements that apply when providing certain types of tax advice. In addition, the original SSTS Nos. 6 and 7 have been combined into the revised SSTS No. 6. The original SSTS No. 8 has been renumbered SSTS No. 7. Various revisions also have been made to the language of the original SSTSs. AICPA members are welcome to comment on the exposure draft, with comments due by May 15, 2009. Please send your comments to sstscomments@aicpa.org or to SSTS Comments, AICPA, 1455 Pennsylvania Avenue NW, Washington, DC 20004-1081. Section 6694 Penalties—The Emergency Economic Stabilization Act of 2008 lowered the reporting standard under section 6694 to “substantial authority” from “more likely than not” for undisclosed, non-tax shelter positions. This is the same standard that applies to taxpayers. The change is retroactive to the date when the higher standard was enacted, May 25, 2007. This is a great victory for CPAs that the AICPA had been fighting for since Congress raised the standard for preparers to a level higher than for taxpayers, creating potential conflicts of interest between CPAs and their clients. Section 7216 Final Regs—IRS regulations on the unauthorized disclosure of tax return information went into effect on January 1. Absent a specific, exception, Treas. Reg. section 301.7216 generally prohibits the disclosure or use of tax return information without the client’s explicit, written consent. Under section 7216, a tax return preparer is subject to a criminal penalty for “knowingly or recklessly” disclosing or using tax return information. Each violation of section 7216 could result in a fine of up to $1,000 or one year imprisonment, or both. AICPA members who are engaged in tax return preparation and tax planning services need to become familiar with Treas. Reg. section 301.7216 and Revenue Procedure 2008-35, the authoritative guidance with respect to a preparer’s disclosure or use of tax return information. In a practice guide for members, the Tax Section is providing several examples of consent forms which have been developed by CPA members for their discussions or consultations with individual clients. 1099B Forms Coming Two Weeks Later—The Emergency Economic Stabilization Act of 2008 extended the date by which brokers must furnish information forms to customers. This includes stock broker 1099-B forms and also other forms from brokers, including realtors. Beginning with statements furnished in 2009, brokers will avoid penalties if they furnish these forms on or before February 15 – as opposed to the old due date of January 31. This could further compress the return preparation season for practitioners. Form 1065 Extended Due Date—Last year, the Tax Division held discussions with IRS concerning the dilemma of the late receipt of Forms 1065, Schedule K-1 that has perplexed the clients of CPAs who prepare the Form 1040, 1065, 1120 and 1120S tax returns which include such K-1 information. On January 24, 2008, we recommended, as a short-term solution, that the Service open a regulation project to: (1) address the difficulties taxpayers face when receiving delayed Schedules K-1 and (2) move the extended due date for partnership returns from October 15 to September 15, thus providing a maximum extension of five months. On July 1, 2008, the IRS released proposed regulations which would, in fact, limit certain flow-through entities to a maximum 5-month extension. The Service has indicated that the proposed regulations won’t be finalized until they have had an opportunity to analyze any comments submitted. On September 24, 2008, the Tax Division submitted comments with regard to the impact on trusts. The AICPA generally supports limiting the extension of the due date for partnership returns to five months. However, our prior letter and comments did not consider the issue of the proper extended due date for fiduciary returns because we were primarily focusing on the filing problems created for individuals who are partners in partnerships. We believe that the extension period for fiduciary returns (i.e., Form 1041 for trusts and estates) should remain at six months, rather than being reduced to five months as set forth in the temporary regulations applicable to all returns which are due after January 1, 2009. The Division will be testifying at the IRS hearing on the proposed regulations on January 13, 2009. In addition, the Division is also considering suggesting possible legislative changes in this area taking into account our members’ attitudes as solicited in a survey earlier this year. Also, on October 29, 2008 representatives of the Partnership TRP met with the Joint Committee on Taxation a possible change to due dates and/or extended due dates of Forms 1065, 1040, 1120S and 1041 to relieve workload compression and to better manage the workflow of these returns. State Taxation of Nonresidents—The ACIPA has been closely monitoring a Congressional initiative that would affect the ability of states to tax nonresidents temporarily working within their jurisdiction. Currently the states that have an individual income tax have a wide variety of tipping points. Some do not impose taxes on nonresidents until they have worked as many as 30 days within the state; others seem to require only a day or two. This has resulted in much confusion and probably significant non compliance for businesses, such as many accounting firms that frequently have employees working in states where the employer does not have an office. A bi-partisan bill was introduced in the last congress that would have required all states to conform to a 60-day rule such that the non resident employee would not be subject to tax within the state until the employee completed more than 60 days of service within the state in a calendar year. Included in the bill was what we refer to as the “snap back” rule whereby, once the 60 days was exceed, the employer was responsible for withholding the non resident state taxes for all the days worked with the state, including the first 60 days. In response to pressure from state taxing authorities, in the final days of the 110th Congress the 60 day rule was lowered to 30 days while still preserving the Snap back” provision. We believe there is a strong possibility that the 111th Congress take up where they left off last session and pass the 30 day with snap back version. Although we would have preferred the 60 day rule or even the 30 day rule without the snap back, this measure would add a much needed level of certainty in the area of state taxation of non residents. Pension Legislation Changes—At the end of the year, Congress passed the “Worker, Retiree and Employer Recovery Act of 2008)” which liberalized the funding rules for single and multi-employer qualified retirement plans and the minimum required distribution rules (MRDs) for retirees who have reached age 70 ½. The bill also makes technical corrections to the “Pension Protection Act of 2006” (PPA ’06) Specifically, the bill would • Allow pension plans to smooth out unexpected asset losses over two years; • Provide a transition to the new funding rules; • Allow multiemployer plans to freeze their status based on the previous year’s funding level; • Allow pension plans that are less than 60 percent funded at the beginning of 2009 to look back to the previous plan year to ascertain their funding status; and • Suspend mandatory withdrawals from retirement plans or IRAs for individuals age 70 ½ or older during 2009. The Treasury Department and IRS plan to issue MRD relief for 2008 very soon. The changes were needed because of the confluence of PPA ’06 mandated minimum contribution increases with the current economic crisis. We are also considering advocating additional changes; we will survey members in business and industry to try to determine if they anticipate continuing funding difficulties. Obama Tax Agenda Although this is necessarily speculative, we tried to pull together some of the common denominators of what President Obama spoke about in his campaign and his economic advisors have been saying since the election. Following are our predications at this moment: • Estate tax – freeze 2009 – i.e. $3.5 mil exclusion and 45% marginal rate. AICPA is fighting for: o “portability” loosely defined as permitting a surviving spouse to “inherit” whatever portion of the exclusion was not consumed by the deceased spouse o “conformity” so that the same exclusion would apply for purposes of the gift tax and the generation skipping transfer tax • Marginal rates for individuals – no increase in 2009 and perhaps not for 2010 unless there is a significant recovery in the economy before then. o Some reduction in payroll taxes for lower and middle income individuals to be effective in 2009 as a stimulus to the economy o Once the economy has “sufficiently” recovered we are expecting the Administration to proposed increasing the rates on upper income individuals to those in place before the reductions of 2001 raising the top rate back to 39.6% • We expect a proposal to increase the rates for qualified dividends and long term capital gains to 20%. But this, too, may not be proposed until it appears we’re on the way to an economic recovery. • Individuals with IRAs may be able to avoid penalties if they withdraw, before age 59 ½ , some level of funds ($10,000 has been talked about) to tie them over the economic slump. • For businesses, the new president has supported a continuation of the bonus deprecation rules and the ability to currently expense as much as $250,000 of asset purchased and placed in service in 2009

Highlights from the IPSASB December 2020 virtual meeting:00:00     Welcome and introduction00:36     Chair's meeting overview02:10     Approval of COVID-19: Deferral of Effective dates 03:12     Approval of Non-Authoritative Amendments to IPSAS 41, Financial Instruments 04:14     Approval of Exposure Draft 74, IPSAS 5, Borrowing Costs, Non-Authoritative Guidance 06:02     Approval of Exposure Draft 79, Assets Held for Sale and Discontinued Operations 07:20     Natural Resources 10:17     Conceptual Framework - Limited Scope update11:12     Measurement17:02     Closing Remarks

In the wake of the sovereign debt crisis, the International Public Sector Accounting Standards Board (IPSASB) is facing increasing demands for its standards and for guidance on their adoption and implementation.During this audio podcast, Acting Technical Director John Stanford interviews Chair Andreas Bergmann and Senior Technical Manager Gwenda Jensen on the IPSASB's recent standard-setting work and other key projects discussed its September 22-25, 2015, meeting. :05 - Introduction:35 - Chair's Opening Remarks  1:06 - Exposure Draft 57, Impairment of Revalued Assets1:36 - Exposure Draft 58, Improvements to IPSAS 20152:32 - Cash Basis IPSAS2:55 - Public Sector Combinations3:24 - Emissions Trading Schemes6:12 - Heritage Assets9:08 - Governance and Appointment of Incoming IPSASB Chair13:07 - Next meeting

In this audio podcast, hosted by IAASB Technical Director Kathleen Healy, Chairman Arnold Schilder, Deputy Chair Chuck Landes, and IAASB members Brendan Murtagh and Megan Zietsman provide an overview of activities conducted during the IAASB's June 15-19, 2015, meeting in New York.:05 - Introduction:31 - Chairman's Overview2:51 - Approval of NOCLAR Exposure Draft 4:37 - ISA 810 approval of Exposure Draft, ISA 800 and 805 review5:21 - Quality Control and Group Audits8:56 - Agreed-upon Procedures, Integrated Reporting, and Professional Skepticism.13:40 - Chairman's Closing Remarks15:10 - Next meeting 

Highlights from the IPSASB's December 2-5, 2013, meeting in Ottawa, Canada. :22 – IASB and IPSASB Conceptual Frameworks2:00- Conceptual Framework: Elements and Recognition4:00 - Conceptual Framework: Measurement and Conceptual Framework: Presentation6:26 - Exposure Draft for Recommended Practice Guideline: Service Performance Information 7:57 – Emissions Trading Schemes9:41 - Update on IPSASB members10:33 – Chair's 2014 Outlook