United States: Accounting and Audit

Investment fund managers face significant challenges during annual audits, from organizing extensive documentation to navigating GAAP compliance requirements. Understanding how strategic audit preparation can reduce costs, minimize disruptions, and streamline the entire audit process is essential for funds of all sizes.

The Securities and Exchange Commission has launched a comprehensive review of the Consolidated Audit Trail, questioning whether the system should continue in its current form after costs ballooned from an estimated $55.8 million to over $248 million annually. The concept release solicits public comment on fundamental aspects including governance structure, funding models, data collection scope, and whether the CAT should be eliminated entirely in favor of alternative audit trail systems.

For three years, we have been writing about Oracle’s Java licensing enforcement as a slow-motion campaign — one that began with “friendly” compliance emails, continued through a series of escalating sales-team...

Los Angeles officials are considering a cannabis tax amnesty program designed to help struggling marijuana businesses resolve unpaid municipal cannabis business taxes while allowing the city to recover otherwise uncollectible revenue.

Investment fund managers face significant challenges during annual audits, from organizing extensive documentation to navigating GAAP compliance requirements. Understanding how strategic audit preparation can reduce costs, minimize disruptions, and streamline the entire audit process is essential for funds of all sizes.

The One Big Beautiful Bill Act (OBBBA) has reshaped tax incentives for wineries, expanding opportunities for R&D expense deductions, production property depreciation, and energy credits. Understanding how these changes interact with winery operations—from fermentation systems to facility upgrades—can significantly impact cash flow and investment returns. This framework helps wineries align tax planning with operational decisions to maximize available benefits.

Consider a court case in which one side presents a chart, report, or a video reconstruction that was created entirely by artificial intelligence (AI).

Private companies, family-owned businesses and employee stock ownership plans (ESOPs) face unique challenges when conducting internal investigations. Unlike their public company counterparts, these types of businesses...

Unbiased analysis is paramount in forensic accounting.

In recent years, the accounting profession has been grappling with a concerning trend: a shortage of skilled workers. According to the American Institute of CPAs (AICPA)...

Cybersecurity breaches concerning workers' personal information and retirement savings have increased liability risks for benefit plans and third-party administrators under federal benefits laws.

FINRA proposed a rule amendment to restrict access to representative- and principal-level qualification scores.