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Latest Articles

  • Audit Firms Push Back and Ask SEC to Reject PCAOB Metrics

    By:
    Emma Slack-Jorgensen
    |
    Jan 7, 2025
    Audit firms are calling on the Securities and Exchange Commission to reject new metrics proposed by the Public Company Accounting Oversight Board.
  • Justice Department Urges Supreme Court to Stop CTA Injunction

    By:
    Karen Sibayan
    |
    Jan 6, 2025
    On Dec. 31, the Department of Justice asked the U.S. Supreme Court to issue a stay of the preliminary injunction that has halted the Corporate Transparency Act’s enforcement nationwide under which the reporting of beneficial ownership information is required. 
  • Regulatory Roundup: December 17 - January 6

    By:
    Karen Sibayan
    |
    Jan 6, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA's regular series that collects relevant regulatory announcements from the past week and puts them in one place to help you stay on top of the issues.
  • FASB Publishes Its 2025 Taxonomies

    By:
    Karen Sibayan
    |
    Dec 30, 2024
    The Financial Accounting Standards Board has published what is collectively known as the "FASB Taxonomies."
  • FASB to Build Its Agenda Based on Input in 2025

    By:
    Karen Sibayan
    |
    Dec 30, 2024
    The Financial Accounting Standards Board’s top priority for 2025 is determining which issues to deal with next basing on feedback from companies that follow its rules and readers of their financial statements, the board’s chair noted
  • Treasury, IRS Propose Regulations Updating Rules for Tax Professionals

    By:
    Karen Sibayan
    |
    Dec 26, 2024
    The Treasury Department and the IRS issued proposed regulations, which were published in the Federal Register on Dec. 26, to update the rules for certain tax professionals who can practice before the IRS.
  • FinCEN Extends to Jan. 13 Most BOI Deadlines as Federal Court Lifts CTA Injunction

    By:
    Karen Sibayan
    |
    Dec 26, 2024
    According to an alert from the Treasury Department's Financial Crimes Enforcement Network (FinCEN), given the Dec. 23 2024 federal Court of Appeals decision, reporting companies, except as indicated in the instances enumerated by the FinCEN, once again must file beneficial ownership (BOI) information with the regulator.
  • AICPA Letter Asks the SEC to Reject PCAOB Final Rules on Firm and Engagement Metrics

    By:
    Karen Sibayan
    |
    Dec 24, 2024

    The AICPA on Dec. 19 sent a comment letter to the Securities and Exchange Commission against  the Public Company Accounting Oversight Board’s (PCAOB) final rules on firm and engagement metrics and .;firm reporting.

  • Bill to Prevent Government Shutdown Did Not Include BOI Reporting Deadline Extension

    By:
    Karen Sibayan
    |
    Dec 23, 2024
    The bill that was passed on the night of Dec. 20 to prevent a federal government shutdown from happening did not include a one-year extension to the deadline for firms to file beneficial ownership information reports. The extension had been included in the bill's first iteration.
  • FASB Solicits Comments on Accounting for Intangibles

    By:
    Karen Sibayan
    |
    Dec 23, 2024

    On Dec. 19, the Financial Accounting Standards Board (FASB) published an Invitation to Comment (ITC) offering stakeholders the chance to give their feedback on whether the regulator should pursue a project on intangibles. Comments on the ITC are due by May 30, 2025.