The U.K.’s Financial Reporting Council sanctioned Deloitte and two of its former partners for their audits of the software company Autonomy prior to its acquisition by HP and levied a record penalty.
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September 18, 2020
Upcoming Events September 18, 2020
Daily Briefing
Deloitte fined £15M in U.K. for Autonomy audits
By Michael Cohn      3 min read
The U.K.’s Financial Reporting Council sanctioned Deloitte and two of its former partners for their audits of the software company Autonomy prior to its acquisition by HP and levied a record penalty.
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Democrats introduce wildfire disaster tax relief bill
By Michael Cohn      3 min read
A group of Senate Democrats introduced legislation to offer tax relief to individuals, businesses and states affected by catastrophic wildfires and other presidentially declared disasters.
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FASB updates nonprofit accounting standards for gifts in kind
By Michael Cohn      2 min read
The Financial Accounting Standards Board released an accounting standards update Thursday to enhance the transparency of how nonprofits report contributed nonfinancial assets, also known as gifts in kind.
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New bill would give tax breaks for training employees not to spread coronavirus
By Michael Cohn      2 min read
Rep. Pete Olson, a Republican from Texas, has introduced a bill that would offer tax incentives to employers who train workers about best practices for reducing the spread of COVID-19 in the workplace.
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The IRS and Security Summit continue to caution tax pros...
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CalCPA announces partnership with MindBridge
By Sean McCabe      1 min read
The state society will have the Canadian company educate its members on AI and data analytics, as well as MindBridge’s software solutions.
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Your job is changing — and that’s a good thing
By Kyle Walters      5 min read
You didn’t like that old job much anyway.
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Advisory services in the pandemic: A mutually beneficial right thing to do
By Charlotte Rushton      4 min read
Delivering advisory services to help small businesses through the pandemic is a win for everyone.
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Tax Fraud Blotter: Foul ball
By Jeff Stimpson      5 min read
Difficult and complex; $4,000 tax on $2 million; little horse sense; and other highlights of recent tax cases.
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N.J. governor, lawmakers agree to raise tax on millionaires
By Elise Young      2 min read
New Jersey Governor Phil Murphy and Democratic legislative leaders have agreed on a budget deal that will raise taxes on millionaires to fund rebates for about 800,000 middle-class households.
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Wall Street workers may want bonuses ahead of possible Biden win for tax reasons
By Elaine Chen      2 min read
Wall Street firms may start facing pressure to pay out bonuses earlier than usual as their employees worry about the prospect of higher taxes under a Biden administration and Democrat-controlled Senate.
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Lease accounting – ASC 842: What private companies can learn from public companies
Most public companies significantly underestimated the complexity associated with implementing the ASC 842 lease accounting standard.
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