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.
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.
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