In a recent 1889 Institute blog, one of my colleagues discussed one suggested cure for occupational licensing: universal recognition. Its shortcomings became obvious with a bit of thought: it only helps some consumers (those close enough to the state border to be worth traveling to) and it only helps them a little bit – allowing out of state practitioners to practice in the state doesn’t boost the supply of practitioners to anything like the same degree eliminating the licensing requirements would. Sure, universal recognition makes a certain kind of sense, if you don’t think too hard about the immorality of requiring government permission to sell your labor. After all, why would a hair stylist trained in Oklahoma be lower quality than a hair stylist trained in Kansas?
Put a good idea in the hands of CPAs, and they’ll find innovative ways to make it even better. That’s exactly what’s happening right now with the new .cpa web domain.
The IRS shares the errors detected during the 2022 tax filing season.
Hear about the exposure drafts directly from Nancy Miller, a PEEC member who chairs the task force responsible for the proposed code revisions related to compliance audits. Nancy and Melissa Powell, a manager in the ethics division, talk about the changes, why PEEC believes they’re necessary, and what they’d like to hear from you. Never miss an episode. You can follow Ethically Speaking at Apple Podcasts, Google Podcasts, Spotify, or wherever you stream content. Just search for “Ethically Speaking” and look for our jolly citrus logo
This proposed guidance facilitates a consistent approach to compliance audits, which are becoming more common. It also aligns independence requirements with risks, making these engagements less cumbersome. Two new definitions, one revised definition, and two revised interpretations. Comments due by September 1.
As part of the loans, acquisitions, and other transactions project, PEEC recently updated the threshold that defines where threats exist with ownership interests. This new exposure draft carries that threshold over to additional interpretations in the AICPA Code of Professional Conduct. Three revised interpretations. Comments due by July 5.
The ‘retirement ideal’ has been changing for years. Older people are increasingly unretiring, changing the shape of this life stage.
MAR 42-1046pro - pertaining to department procedures involving penalties against alcoholic beverages licenses Public Hearing: June 22, 2022 Comment Deadline: June 30, 2022
An update from your delegation's trip to Austin TX to hear from AICPA on the future of the profession and to provide feedback on plans to address the issues we are facing.
Gov. Greg Gianforte’s signature pledge to bring home Montana’s kids and grandkids, now backed by a $700,000 marketing campaign, has run headlong into angst over Montana’s ‘crazy real estate market.’
May 11th the State Tax Committee met with DOR staff to discuss the tax season and plans for the future.
It is critical to plan early so you can sell your firm when you are ready. Researching options early in the process can help you manage your transition, instead of getting stuck.
Firms need to define the succession plan that best suits their needs and then live that plan well.
Today, in both corporate and public accounting roles, accountants are expected to be business partners. Consequently, a high value is placed on those entrants into the profession who possess both technical accounting know-how and traditional professional skills. Acknowledging this desire, the core competency frameworks developed by the AICPA and the Institute of Management Accountants heavily emphasize nonaccounting skills as competencies needed by students entering the profession. After reviewing these frameworks and reflecting on the feedback from accounting professionals and university alumni, we have identified three themes and offer practical suggestions to support educators as they prepare the next generation of CPAs.
Most people interact easily with family and close friends. But sometimes meeting new people, talking in a group setting, or speaking in public can cause anxiety, self-consciousness, and a fear of being embarrassed. For finance professionals, communicating with confidence is key to helping managers, colleagues, and customers feel secure in their ability to perform at a high level, which can lead to a more successful career.
A long time legislative priority of the Society passed the Montana Legislature in 2021. Due to issues with federal funding, it will not be implemented until 2024.