12 to KNOW

SOURCES:   CNN — Live updates: Xi hails new era in US-China relations, but warns Trump on Taiwan    https://www.cnn.com/politics/live-news/trump-china-visit-xi-meeting-hnk   Washington Post — China gains major edge on U.S. amid Iran war, U.S. intelligence finds    https://www.washingtonpost.com/national-security/2026/05/13/china-gains-major-edge-us-amid-iran-war-us-intelligence-finds/   NPR — Pent...

SOURCES:   Center for Audit Quality — Public Policy and Technical Alert | December 2025    https://www.thecaq.org/public-policy-and-technical-alert-december-2025   Karbon — Karbon State of AI in Accounting 2026 Report shows strategy, training, and governance unlock AI's full potential    https://karbonhq.com/resources/state-of-ai-accounting-2026/   CFO Dive — CPA licensing changes poised to hi...

SOURCES:   CNN — Day 74 of Middle East conflict — Trump says 'I don't think about Americans' financial situation'    https://www.cnn.com/2026/05/12/world/live-news/trump-iran-war-news   Al Jazeera — Iran war live: World watches as Trump and Xi to hold high-stakes talks    https://www.aljazeera.com/news/liveblog/2026/5/13/iran-war-live-trump-travels-to-china-as-conflict-with-tehran-...

SOURCES:   The CAQ — Public Policy and Technical Alert | December 2025    https://www.thecaq.org/public-policy-and-technical-alert-december-2025   Journal of Accountancy — How AI is transforming the audit — and what it means for CPAs    https://www.journalofaccountancy.com/issues/2026/feb/how-ai-is-transforming-the-audit-and-what-it-means-for-cpas/   Talentfoot — How the CPA Shortage Is Extending...

SOURCES:   CNN — Trump says ceasefire with Iran on 'massive life support' after he rejects Tehran's proposal    https://edition.cnn.com/2026/05/11/world/live-news/iran-war-proposal-trump   NBC News — Pentagon releases declassified UFO files including videos and photos held by the government for decades    https://www.nbcnews.com/science/ufos-and-anomalous-phenomena/ufo-uap-files-pentag...

SOURCES:   SEC.gov — SEC's Division of Enforcement Announces Updates to Enforcement Manual    https://www.sec.gov/newsroom/press-releases/2026-20-secs-division-enforcement-announces-updates-enforcement-manual   The CAQ — Public Policy and Technical Alert | December 2025    https://www.thecaq.org/public-policy-and-technical-alert-december-2025   Today's CPA Magazine — AI in Accounting 2026:...

SOURCES:   CNN — Day 72 of Middle East conflict — Trump calls Iran response to US proposal 'totally unacceptable'    https://www.cnn.com/2026/05/10/world/live-news/iran-war-news   CNBC — From Singapore to Brussels, world leaders eye Trump-Xi summit from afar    https://www.cnbc.com/2026/05/11/trump-xi-summit-beijing-global-leaders-iran-war-taiwan-strait-of-hormuz-.html   Nebraska Medicine...

SOURCES:   Accounting Today — SEC, FASB prepare for semi-annual reporting option    https://www.accountingtoday.com/news/sec-fasb-prepare-for-semi-annual-reporting-option   Morgan Lewis — Securities Enforcement Roundup – January 2026    https://www.morganlewis.com/pubs/2026/02/securities-enforcement-roundup-january-2026   Journal of Accountancy — How will accountants learn new skills when AI does...

SOURCES:   The Vindicator — Nation and world at a glance for May 8    https://www.vindy.com/news/national-news/2026/05/nation-and-world-at-a-glance-for-may-8/   NPR — Pennsylvania is suing Character. AI over accusations the company's chatbots are violating the state's medical licensing regulations    https://www.npr.org/sections/national/   CNN — Ex-deputy found guilty of reckless homicide...

SOURCES:   Center for Audit Quality — Public Policy and Technical Alert    https://www.thecaq.org/public-policy-and-technical-alert-december-2025   Harvard Law School Forum on Corporate Governance — SEC Enforcement FY2025 Results Signal Shift in Priorities    https://corpgov.law.harvard.edu/2026/05/05/sec-enforcement-fy2025-results-signal-shift-in-priorities-in-direct-critique-of-prior-administrat...

SOURCES:   CNN — US and Iran closing in on agreement aimed at ending war, source says    https://www.cnn.com/2026/05/06/politics/trump-iran-war-talks-plan   MS NOW — Iran war live updates: Trump vows to restart bombing    https://www.ms.now/liveblog/iran-war-news-today-trump-us-may-6-2026   St. Louis Fed — The Dual Mandate in Conflict: Balancing Current Tensions between Inflation and Employment   ...

SOURCES:   The CAQ — Public Policy and Technical Alert | December 2025 | The CAQ    https://www.thecaq.org/public-policy-and-technical-alert-december-2025   Texas Society of CPAs — AI in Accounting 2026: From Practical Automation to Strategic Advantage    https://www.tx.cpa/news-publications/todays-cpa-magazine/issues/article/march-april-2026/2026/03/05/ai-in-accounting-2026-from-practical-automat...

SOURCES:   CNN — Live updates: Trump to pause US effort to guide ships through Strait of Hormuz while blockade remains    https://www.cnn.com/2026/05/05/world/live-news/iran-war-news   NPR — Trump says he's paused U.S. effort to guide stranded vessels out of Strait of Hormuz    https://www.npr.org/2026/05/05/nx-s1-5811770/iran-war-updates   CNN — Trump keeps saying the quiet part out loud on c...

Twelve stories. Everything you need to know. The 12 to KNOW Morning Brief covers US news, world events, markets, sports, and one story that will actually make you smile — all in about ten minutes. If you want to walk into your day informed and ready, this is your brief. Drop in every weekday morning.

SOURCES:   PCAOB — AS 1215: Audit Documentation (effective on 12/15/2026)    https://pcaobus.org/oversight/standards/auditing-standards/details/as-1215--audit-documentation-(effective-on-12-15-2026)   SEC — SEC's Division of Enforcement Announces Updates to Enforcement Manual    https://www.sec.gov/newsroom/press-releases/2026-20-secs-division-enforcement-announces-updates-enforcement-manual  ...

SOURCES :   NBC News — U.S. launches mission to guide ships through the Strait of Hormuz; Iran threatens attacks    https://www.nbcnews.com/world/iran/iran-war-trump-mission-guide-ships-strait-hormuz-attack-energy-prices-rcna343406   PBS NewsHour — Live Results: Ohio state primaries    https://www.pbs.org/newshour/   NPR — Wyoming lawmakers say tight new restrictions on abortion are needed to grow...

SOURCES:   CAQ Public Policy Alert — Public Policy and Technical Alert | December 2025    https://www.thecaq.org/public-policy-and-technical-alert-december-2025   SEC.gov — SEC Announces Enforcement Results for Fiscal Year 2025    https://www.sec.gov/newsroom/press-releases/2026-34   TheStreet — Big Four accounting chooses AI over humans, cuts benefits & hiring    https://www.thestreet.com/mar...

SOURCES:   Just Security — Early Edition: May 4, 2026    https://www.justsecurity.org/137924/early-edition-may-4-2026/   CNN — Live updates: US and Iranian militaries trade shots as Strait of Hormuz tensions escalate    https://www.cnn.com/2026/05/04/world/live-news/iran-war-hormuz-trump   NPR — Germany's defense minister is playing down the impact    https://www.npr.org/sections/world/   NPR...

SOURCES:   KPMG — Q4 2025 new IFRS® Accounting Standards and amendments: Are you ready?    https://kpmg.com/us/en/articles/2025/q4-2025-new-ifrs-accounting-standards-amendments-are-you-ready.html   CPA Practice Advisor — SEC and PCAOB Enforcement Plummets    https://www.cpapracticeadvisor.com/2026/03/04/sec-and-pcaob-enforcement-plummets/179232/   Journal of Accountancy — How will accountants lear...

SOURCES:   U.S. Bureau of Economic Analysis — GDP (Advance Estimate), 1st Quarter 2026    https://www.bea.gov/news/2026/gdp-advance-estimate-1st-quarter-2026   CNN — Live updates: Trump to hear military options as part of efforts to pressure Iran into deal    https://www.cnn.com/2026/04/30/world/live-news/iran-war-news   Fox News — May Day 2026 protests planned under Workers Over Billionaires them...

SOURCES:   IFRS Foundation — IASB Update April 2026    https://www.ifrs.org/news-and-events/updates/iasb/2026/iasb-update-april-2026/   CFO Dive — Will 2026 be a decisive or disruptive year for CPA pathways?    https://www.cfodive.com/news/2026-decisive-disruptive-year-cpa-pathways-accounting/809877/   Karbon Magazine — Guide to AI in Accounting: Trends, Tools, and Stats (Updated 2026)    https://...

SOURCES:   CNN — Takeaways from the Supreme Court's historic Voting Rights Act opinion and what's next for the midterms    https://www.cnn.com/2026/04/29/politics/takeaways-supreme-court-voting-rights-act   CNBC — Fed meeting today live updates: Powell, Kevin Warsh in focus    https://www.cnbc.com/2026/04/29/fed-meeting-today-live-updates-warsh-powell.html   CNN — Day 61 of Middle East con...

SOURCES :   Bloomberg Tax — KPMG to Cut 10% of US Audit Partners to Reshape Practice    https://news.bloombergtax.com/financial-accounting/kpmg-to-cut-10-of-us-audit-partners-in-bid-to-reshape-practice   KPMG — Q4 2025 new IFRS® Accounting Standards and amendments: Are you ready?    https://kpmg.com/us/en/articles/2025/q4-2025-new-ifrs-accounting-standards-amendments-are-you-ready.html   Karbon —...

SOURCES :   Supreme Court — Cisco Systems v. Doe I (24-856)    https://www.supremecourt.gov/   Conservative Treehouse — April 28th - 2026 Presidential Politics - Trump Administration Day 464    https://theconservativetreehouse.com/blog/2026/04/28/april-28th-2026-presidential-politics-trump-administration-day-464/   CNN — Analysis: One critical question the 2026 election has already answered    htt...