SOC Tip #21

If an organization refuses to provide a management assertion letter, the organization’s description of the control environment and all controls must be removed from the report, effectively changing the report to the “carve-out” method.

Changes to Hedge Accounting Proposed by FASB

The Financial Accounting Standards Board (“FASB”) has long received feedback from its users regarding the burden and complexity related to the requirements laid out under ASC Topic 815, Derivatives and Hedging.

Say Goodbye to Automatic Extensions on Most W-2 Series Forms

The IRS has released temporary regulations (TD 9730) that allow a single 30-day non-automatic extension to file nearly all forms in the W-2 series.

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