Episoder
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Accounting professionals are entrusted to safeguard clients’ most sensitive personal and financial information. Heidi Rogers from NJCPA member benefit provider CPACharge dsicusses four critical elements to lock down your data and keep client information safe.
Resources:
Learn more about CPAChargeArticle: 4 Ways to Protect Your Clients’ DataCybersecurity Knowledge HubNJCPA Marketplace: Cybersecurity services -
As the year comes to an end, there are two new accounting standards updates from the Financial Accounting Standards Board (FASB) — one on disaggregation of income statement expenses and another on induced conversions of convertible debt instruments. Brad provides an overview of both ASUs.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation DisclosuresASU 2024-04, Debt - Debt with Conversion and Other OptionsAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
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A recent KPMG survey reveals that tax departments are poised to lead their organizations into a more resilient and empowered future. David Neuenhaus, partner-in-charge of tax at KPMG, discusses their report, “Tax Reimagined 2024: Perspectives from the C-Suite,” which shows how tax professionals are grappling with the impending expiration of the Tax Cuts and Jobs Act provisions, global tax policy updates and the ongoing pace of regulatory changes.
Resources:
Tax Reimagined 2024: Perspectives from the C-SuiteBusiness Management Knowledge Hub -
The AICPA board recently approved updates to the peer review standards to align with the new quality management standards and make some additional changes. And the PCAOB has issued guidance on critical audit matters and auditor responsibilities regarding illegal acts.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
AICPA board approves update to peer review standardsPCAOB Audit Focus: Critical Audit MattersPCAOB Spotlight: Auditor Responsibilities for Detecting, Evaluating and Making Communications About Illegal ActsAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
The AICPA recently issued an exposure draft on the applicability of AR-C Section 70 to financial statements prepared as part of a consulting services engagement. Hear an overview of the proposal, understand the nuances and find out how to provide feedback.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
Exposure Draft, Proposed SSARS AR-C Section 70 ApplicabilityAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Donald Trump won a clear victory in the Presidential race, taking both the popular vote and the electoral college. Dr. Ben Dworkin, director of the Rowan Institute for Public Policy, provides his insights on what happened and why. He also discusses the potential impact of the Trump presidency on tax and business policies.
#IssuesWatch #Podcast #Trump #Election2024
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The U.S. Justice Department is suing financial services giant Visa for allegedly violating antitrust laws in its debit card business. Eric Cohen, CEO of Merchant Advocate, joins us to discuss Visa’s role in the debit card space and the viability and potential impact of the lawsuit.
Resources:
Learn more about Merchant Advocate (NJCPA Member Benefit Provider) -
Three college accounting educators – who are also CPAs – discuss the state of accounting education today. They cover enrollment trends, shifts in curriculum, accommodating varied learning styles, bridging the gap between the classroom and the workforce, alternative pathways to CPA and more.
Resources:
The State of Accounting Education Knowledge Hub CPA Pipeline Knowledge Hub -
This episode reviews the top four priorities of the Financial Accounting Standards Board (FASB) Private Company Council (PCC) as well as Public Company Accounting Oversight Board (PCAOB) staff observations from 2023 annual inspection reports.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
FASB Private Company Council top four prioritiesPCAOB Posts 2023 Annual Inspection Reports Alongside Staff Observations and New Charts to Boost TransparencyAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
The two presidential candidates have many stark differences on policy matters, including taxation and economics. PwC’s Miguel Martinez speaks with NJCPA’s Jeff Kaszerman about these differences, what the impact would be on the deficit, the prospect of a divided government and the future of the SALT deduction cap.
Resources:
PwC Pulse Survey: Executive takes on Election 2024 -
The effective date of the AICPA’s new quality management standards is fast approaching, and they represent a significant change in how CPA firms need to approach quality control. Get an overview of the requirements - and make sure you pass your peer review!
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
Webinar – Quality Management: Understanding and Implementing the New Standards, Nov. 12 or Nov. 26AICPA quality management standards resourcesAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
Two-factor authentication (2FA) is a powerful anti-fraud, anti-hacking tool. But it can also be used against you – as NJCPA member Sean Stein Smith, CPA, recently found out firsthand. Hear about Sean’s story and find out steps you can take to protect yourself.
Resources:
Speaking with Clients about 2FA Fraud PreventionFraud Prevention Knowledge Hub -
A recent Public Company Accounting Oversight Board (PCAOB) report provides insights into auditor independence issues found during PCAOB inspections.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
PCAOB Spotlight: Inspection Observations Related to Auditor IndependenceAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
A new book, Accounting for Times: Evolve or Dissolve, delves into what accounting firms need to do to thrive in today’s business environment. The book’s authors – Rachel Anevski and Dr. Jessica Levin – join us to discuss how firms can adjust to the expectations of young professionals, private equity versus ESOPs, how firms can embrace AI, and more.
Resources:
Purchase Accounting for Times: Evolve or DissolveMore about Jessica Levin and Seven DegreesMore about Rachel Anevski and Matters of ManagementFirm Administration Knowledge Hub -
This episode recaps recent regulations and guidance regarding accounting for cryptocurrency and digital assets, including a taxonomy for classifying digital assets and a review of FASB ASU on accounting for and disclosure of digital assets.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
AICPA article: A taxonomy for classifying digital assetsFASB ASU 2023-08, Accounting for and Disclosure of Digital Assetshttps://www.aicpa-cima.com/resources/article/bitcoin-basics-for-nfps-accepting-and-valuing-crypto-asset-giftsCryptocurrency and digital assets articles and eventsAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
How can CPA firms maximize the use of generative artificial intelligence (AI) while mitigating its risks? CNA Insurance’s Sarah Ference discusses concerns about data privacy, bias and the reliability of generative AI’s content as well as steps firms can take to ensure that these tools are used in a responsible and beneficial manner.
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AI/Automation Knowledge Hub Generative AI and risks to CPA firmsCNA InsuranceThe information, examples and suggestions presented in this podcast have been developed from sources believed to be reliable, but they should not be construed as legal or other professional advice. CNA accepts no responsibility for the accuracy or completeness of this podcast and recommends the consultation with competent legal counsel and/or other professional advisors before applying this material in any particular factual situations. This material is for illustrative purposes and is not intended to constitute a contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. “CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities. Copyright © 2024 CNA. All rights reserved.
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Cryptocurrency OG Jeremy Nau, CPA, joins us to discuss how blockchain-based audits help produce better data and analytics. He also shares his wish list for standards related to crypto accounting and tips for CPAs looking to get involved in the space.
Resources:
Cryptocurrency and Digital Assets Knowledge HubThe Network Firm -
Understand the risks involved in signing non-disclosure agreements, make sure your firm is on schedule to conform to the AICPA’s new quality management standards, and learn about the PCAOB’s annual report regarding audits of broker dealers.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
AICPA quality management resourcesPCAOB Annual Report on the Interim Inspection Program Related to the Audits of Broker DealersAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group -
The legislative landscape for artificial intelligence and privacy rights is rapidly evolving, and states are taking different approaches. Bill Kramer of MultiState Associates joins us to discuss the latest developments nationwide and how they could influence New Jersey's policies.
Resources:
Legislative Action CenterMultiState Associates -
In part two of a two-part episode, Brad and Frank continue to discuss the AICPA’s Technical Q&As. This episode covers cash balances and cash flow statements.
*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***
Resources:
AICPA Technical Questions and AnswersAccounting and auditing articles and eventsJoin the Accounting & Auditing Standards Interest Group - Vis mere
