Michael Cohn

The Top 10 Firm is supporting recent legislation in Minnesota that would lower the traditional 150-hour requirement for CPA licensure.

The service is extending a transition period for an exception to the requirement for companies to pay taxes on royalties for intellectual property abroad.

Banks have been reclassifying their losses to avoid taking steep write-downs that could be helping them stay in business.

Long-awaited proposed guidance gives details on the new tax credits for electric vehicles under the Inflation Reduction Act.

The majority of the service's extra funding from the Inflation Reduction Act is currently dedicated to improving tax enforcement to collect more revenue.

The Internal Revenue Service issued a revenue ruling that aims to prevent abuse of stepped-up basis adjustments in irrevocable grantor trusts.

The committee released a study Thursday on how to apply its widely used internal control framework to sustainability reporting.

The Global Reporting Initiative released a report urging companies to take a due diligence approach in their sustainability efforts.

The board released an update to improve how companies disclose investments in tax credit structures by letting them use proportional amortization.

Companies that went public before the slowdown in the IPO and SPAC markets have been having trouble complying with Sarbanes-Oxley requirements.

IOSCO is encouraging the development of a more global assurance framework for sustainability-related corporate reporting.

The Public Company Accounting Oversight Board voted to update a group of old interim standards it inherited from the AICPA in 2003.

The board levied a $100,000 fine and censured Friedman LLP, a former Top 100 Firm that's now part of Marcum for improper use of Chinese audit firms.

The boards are moving to a new oversight body called the International Foundation for Ethics and Audit.

The board issued an ASU to ease the guidance for applying the leasing standard to arrangements between entities under common control.

Slowly but surely, more private businesses are adopting the new standard as they face demands to put their operating leases on their balance sheets.

The service's Criminal Investigation unit investigated 975 tax and money laundering cases related to COVID-19 with fraud totaling $3.2 billion.

The Internal Revenue Service updated its frequently asked questions about the information return for reporting transactions involving payment cards and third-party networks.

The Top 25 Firm is expanding its entertainment management practice by adding Royalty Compliance Organization in St. Louis and Blue Sky Group in Nashville.

The board proposes modifying IFRS 9 to deal with assets with environmental, social and governance features, as well as electronic payment systems.