Practice Management & Professional Standards

Topics

August 10, 2022

Guide released for tax pros’ information security plan

A downloadable booklet describes the Gramm-Leach-Bliley Act’s safeguards rule and includes a template for a firm’s required written information security plan.

August 1, 2022

2022 tax software survey: Shares of respondents and product and company information

Bonus: The percentages for all products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2022 tax software survey.

August 1, 2022

Protecting a taxpayer’s privileges

Protecting a client’s tax privileges is a fundamental duty of the CPA tax professional, and it is critical that the CPA understand the privileges that are available to a client-taxpayer.

August 1, 2022

Conflicts of interest: A practical approach for small firms

Even small firms should have a conflict-of-interest policy in place because Circular 230 holds tax leaders within a firm responsible for establishing procedures that ensure firm members comply with the rules.

June 1, 2022

Show value, add value, and bring value: Part 2

After guiding clients through two years of struggle and turmoil, now is the time for CPA firms to build on those relationships by further highlighting the value proposition they provide.

March 1, 2022

Show value, add value, and bring value to your team

Firms can obtain exponential returns by involving staff in the development of the firm’s strategic mission and showing a commitment to their future professional success.

February 1, 2022

Best practices for engagement letters, POAs, and tax return extensions

This article discuss how and why to use engagement letters, choosing whether to represent a client via POA or tax information authorization, and the benefits of tax return extensions.

February 1, 2022

Integrating technology into accounting curriculum as CPA Exam evolves

Accounting education programs must evolve to incorporate technology requirements in alignment with the revised CPA Exam and the New Model for Licensure.

December 1, 2021

Keeping on top of tax changes

Members of the AICPA Tax Practice Management Committee share strategies for how they continue to keep clients, and themselves, up to date with the many tax law changes of the last several years and the many possibly to come in the near future.

December 1, 2021

Keeping client data secure: How’s your cybersecurity immunity?

This article discusses five things tax professionals can do to boost their security immunity.

November 1, 2021

Client, attorney, and preparer emails were protected from disclosure

Emails between client, attorney, and return preparer may be protected from disclosure under certain circumstances.

November 1, 2021

Taking back control with quality management

Upcoming revisions to the AICPA Statements on Standards for Tax Services may include standards for quality management in a tax practice. The SSTS Revision Task Force is seeking comments from stakeholders as it undertakes this project.

October 1, 2021

Automating indirect state and local tax compliance process

Companies should design and adopt a well-organized systematic approach that can identify candidates ripe for automation to streamline the indirect compliance process.

October 1, 2021

Working with cognitively impaired taxpayers

CPAs can take proactive steps to assist cognitively impaired clients in managing estate assets and tax responsibilities.

September 1, 2021

2021 tax software survey: Shares of respondents and product and company information

Bonus: The percentages for all 13 products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2021 tax software survey.

September 1, 2021

Practitioners’ role in the continuing evolution of Circular 230

Practitioners and the organizations they are involved with can participate in facilitating the ongoing applicability and effectiveness of Circular 230.

September 1, 2021

Correlating culture with retention in small accounting firms

Defining a practice’s culture and values early can help retain staff and avert a crisis.

September 1, 2021

2021 tax software survey

Our annual survey shows how CPAs rate the tax preparation software they used during this year’s tax season and how it handled retroactive tax law changes that happened during the season.

August 1, 2021

Risk mitigation best practices

CPAs can limit liability risks by carefully drafting engagement letters, avoiding giving informal advice, fully vetting new clients, assessing the firm’s
competence to handle clients’ issues, and maintaining appropriate data security practices.

August 1, 2021

Academic research for your practice consideration

Recent tax research papers focus on interactions practitioners have with clients on contentious issues; how state regulations affect the quality of preparers; the effect of addback statutes on corporate innovation; and how to mitigate the effect of the new GILTI.