Ron Elving is a senior editor and correspondent for NPR’s Washington Desk. Ron delivered the keynote address at this year’s AICPA Governmental Accounting and Auditing Conference. We sat down with him to get his insights on what’s going on in Washington and how it affects CPAs.
What would you say are some of the legislative and political issues that CPAs should be following? What issues will most affect them?
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Did you know one in five women say they’re the only woman in the room at work? If you’re like me, unfortunately, you’re not too surprised by this information. Professions like finance & accounting and tech spaces have been known to have a harder time attracting and retaining female talent. Yet, companies that have a higher percentage of female leadership have been proven to excel. A report released by Credit Suisse states that companies that have women making up at least 15% of senior management are 50% more profitable than those where less than 10% of senior managers are female. So, here are four strategies that will help you attract top female talent to your firm and retain them, too.
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Last month, we issued a new statement on auditing standards (SAS) for employee benefit plan audits, Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. The SAS is designed to make the auditor’s report easier to understand and more relevant, leading to improved EBP audit quality.
If you perform financial statement audits of EBPs subject to ERISA, you’ll want to carefully review the changes and start planning for implementation well before the effective date
Here’s some advice to get you started.
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Suffice to say, it’s not been a good week for the 5th largest U.S. credit card issuer. This week, Capital One was hacked in what’s being called one of the largest data breaches in history. A lone hacker gained access to more than 100 million American and Canadian customer accounts and credit card applications. The data theft exposed 140,000 social security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, among customers’ other personal data. Capital One estimates the breach will cost them between $100M and $150M in 2019 on customer notifications, credit monitoring, technology costs and legal support. And this does not include potential reputational damage or political and regulatory actions, including possible penalties. Capital One’s stock also plummeted 6% overnight.
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The coming of summer means longer, lazier days filled with outdoor fun. But once we’ve packed away the thick wool and sleek leather jackets that defined our winter existence, we’re often faced with an unpleasant truth: months of indoor living have left us feeling unprepared for outdoor activities like beach volleyball and surfing. And many times, a long winter may have left your firm a little out of shape, too.
Whether the barely managed chaos of tax season forced you to put off the exercises that would have helped keep your firm… well, firm, or the rapid approach of October has you procrastinating in getting to your firm’s self-care, summer is a perfect chance to get everything in shape and ready to show off.
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