The 2015 Nominating Committee is seeking qualified members for director seats on the NCACPA Board of Directors for the 2015–2018 term. Members interested in submitting nominations are encouraged to fill out the electronic nomination form. We are in need of dedicated professionals who are willing to contribute their time and talents to ensure the Association […]
On December 10, 2014, the Internal Revenue Service issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 […]
Synopsis The IRS released a new YouTube video in response to continuing aggressive telephone scams across the country. The video serves as a warning to taxpayers not to be fooled by telephone scams from imposters posing as IRS representatives. Issue The video advises taxpayers that scam phone callers may demand money or request private information […]
A recent harmful and far-reaching ruling by the NC Court of Appeals has the potential to threaten the accounting profession. For the first time, a North Carolina appellate court has ruled North Carolina accounting firms owe a fiduciary duty to their independent audit clients. On November 4, in the case of Commscope Credit Union vs. […]
Newly Elected Chair Calls for NASBA and Boards of Accountancy to Embrace the Future The National Association of State Boards of Accountancy (NASBA) is pleased to announce Walter C. Davenport, CPA, of Raleigh, N.C., as chair of its 2014-15 Board of Directors. Davenport, along with a slate of newly elected board members, was installed into […]
In response to the AICPA’s discussion paper on enhancing audit quality (EAQ), your Association submitted two communications. The issue was thoroughly discussed by the Board of Directors at its October 30 meeting, and a portion of the agenda was focused on NCACPA’s response. Feedback was also solicited from both the Accounting & Attestation Committee and […]
North Carolina State University’s (NCSU) own GoodWolf Counting team made it to the semi-finals in the 2014 AICPA Accounting Competition, allowing students a chance to win one of three top prizes of $10,000 and a trip to Washington, DC, by showcasing their managerial talents in accounting. Their submissions are online for public voting and the […]
The Code of Professional Conduct has been completely updated to allow for quick, easy navigation and now lives on a dynamic online platform. Please familiarize yourself with the new Code—The AICPA Ethics Division has created implementation tools, including a mapping document to help you transition to the new Code by the December 15 effective date.
As a reminder, all preparer tax identification numbers (PTINs) will expire December 31. The 2015 renewal process is now open at www.irs.gov/ptin.
Financial Accounting Standards Board Chairman Russell Golden explained that reducing complexity and cost—while retaining the relevance of financial reporting to users—will remain a focus of FASB in the coming years. Read this Journal of Accountancy article for additional coverage of Golden’s presentation to the AICPA governing Council.