News & Updates

The Internal Revenue Service has launched a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities.

The AICPA Auditing Standards Board has voted to seek public comment on proposed updates to attestation standards, in part to address sustainability information and other emerging areas of assurance.

Finance leaders are poised to limit pay and headcount increases throughout 2026 while expanding investment in artificial intelligence and other technologies, according to a recent survey.

On Feb. 26, 2026, the VSCPA submitted comments on the U.S. Department of Education’s Notice of Proposed Rulemaking, “Reimagining and Improving Student Education.”

Data analytics combined with other forensic accounting tools can help investigators uncover how investors in Ponzi schemes were victimized and how data can be compiled to locate stolen assets and create an analytical report that aids regulators and legal proceedings.

During the 2026 General Assembly Session, the 2026 Amendments to the 2025 Appropriation Act replaced Virginia’s rolling conformity to the IRC with a fixed conformity date of Dec. 31, 2025.

This article looks at risks around AI, including generative AI — crossing technological, economic, human, and environmental lines.

The OBBB Act introduces both planning opportunities and new stress points that can easily evolve into disputes if expectations are not clearly communicated and documented.

Crossover was Tuesday, Feb. 17, and it has reshaped the landscape at the General Assembly. While tax conformity and PTET are expected to be resolved in the caboose budget, several other tax policy issues remain active as bills move to the opposite chamber.

AI is no longer just a headline. It’s fast becoming the backbone of many industries, including accounting and finance. Within a few years, the very definition of “normal work” will change. For CPAs and finance leaders, understanding how leadership must evolve is now a business imperative.

Most accounting firms, especially partnership‑based firms, lean heavily on financial incentives to drive business development. But research shows financial incentives often change why people work, not how well they work.

After suffering two strokes in four days, the author battled mental health issues before he learned to recognize, address, and prevent chronic stress.

With audit committees being asked to take on more emerging risks, new research examines what these additional responsibilities and duties mean for effective governance and oversight.

The Virginia Chamber of Commerce officially unveiled Blueprint Virginia 2035 during the 2025 Virginia Economic Summit and Forum on International Trade in December 2025. The comprehensive business plan marks the culmination of a year-long effort to strengthen Virginia’s position as a top state for business over the next decade.

The latest wave of artificial intelligence (AI) technology promises to offer the technological leap that large and small firms have long awaited to transform the audit.

Passing the CPA exam takes more than study hours. It takes a mindset, a way of showing up for yourself when you’d rather quit, when you’re tired, and when no one else understands why you care this much.

The accounting profession is sending a clear message on skills: workforce readiness at the early-career level has become a pivotal challenge as the business environment grows more complex and technology continues to reshape how CPAs work.  To address the skills gap, the American Institute of CPAs is launching an important effort to develop and strengthen young CPA talent: the Profession Ready Initiative.  

For this year, it appears tax conformity will be resolved through committee amendments to the caboose budget bills (HB 29 and SB 29) rather than standalone legislation.

Here's where things stand on major tax proposals before the Virginia General Assembly, as well as the bill to introduce a CPA, Emeritus licensure status.

At CPA firms everywhere, busy season takes stress to the highest levels. So, this is a great time to think about actions that will make your business run more efficiently, become more appealing for talent attraction and retention, and become more financially rewarding.