Audit committee chairs check in on AI
The PCAOB found that audit committee chairs are increasingly turning to their auditors to understand AI's impacts on a company's financial reporting and controls.

FASB adds project on insurance hedging
The Financial Accounting Standards Board added a project to its technical agenda to allow insurance companies to use the "portfolio layer method" when doing hedge accounting on their financial liabilities.

AICPA & CIMA roll out AI Skills Accelerator program
The AICPA and CIMA announced its new "AI Skills Accelerator," an intensive multicourse program that provides a wide breadth of materials to build skills with AI and better understand the mindset needed to do so successfully.

IRS lets taxpayers ask for more time after ERC is disallowed
The Internal Revenue Service is offering taxpayers a new option to request more time to review a disallowance of an Employee Retention Credit claim.

House advances slimmer IRS budget for 2027
The House Appropriations Committee approved further budget cuts for the IRS, expanding the use of AI and data analytics to handle enforcement.

Grow your practice without adding new clients
Clients may be able to save thousands in taxes and prepare for a better future with the introduction of even the most rudimentary financial planning.

Fractional CFO firm gets minority investment
CFO Selections, a fractional CFO firm, received a minority investment from family office Laird Norton Company.

NYC's Mamdani tries defusing Griffin blowback to second-home tax
New York City Mayor Zohran Mamdani insisted his push for a new tax on pricey second homes isn't "motivated by any one individual."

Trump's $10B IRS suit hits snag with skeptical judge
A judge questioned whether the president's lawsuit against the IRS and Treasury can proceed with Trump effectively in control of both sides of the litigation.

The future of the accounting workforce
While concerns remain about the profession's pipeline of new accountants, Cathy Moy, chief people officer at BDO USA, sees plenty of ways to keep it full.