NJCPA IssuesWatch Podcast

The Nov. 2 New Jersey election was one like no other. Why were the polls so wrong? Which big public policy issues factored into the vote? What’s the outlook for the next four years? Ben Dworkin, director of Rowan University's Institute for Public Policy & Citizenship, breaks it all down for us.

This episode focuses on what auditors need to know about the AICPA’s new standard on risk-based auditing: SAS 145 – Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement. Other topics include the tightening up of remote auditing procedures; highlights of recent FASB and Financial Accounting Standards Advisory Council meetings; and PCAOB’s preview of 202...

After a pandemic-related slump, merger and acquisition activity among CPA firms is red hot. What’s driving M&A transactions today? Is it a buyer’s market or a seller’s market? And what’s the outlook for the next few years? NJCPA member Joe Tarasco, CPA, of Accountants Advisory Group answers these questions and more about the rebounding M&A market nationwide and here in New Jersey. Related...

Take 10 minutes to get an update on the latest accounting and auditing news from the FASB, AICPA and PCAOB. FASB updates are related to revenue recognition, fair value and equity security sale restrictions, the 2022 GAAP financial reporting taxonomy and the results of a recent Private Company Council meeting. Other topics include the AICPA’s proposed changes to peer review, PCAOB staff guidan...

The New Jersey Legislature returns in November. What can we expect? Will we see movement on the Business Alternative Income Tax (BAIT) clean-up bill and other issues important to Garden State CPAs and the business community? Top New Jersey lobbyist Dale Florio gives us his insight on what might be accomplished during the lame duck session and the new legislative session that begins in January 2022...

Our latest 10-minute accounting and auditing update provides a speed round on various FASB, AICPA, CAQ and PCAOB updates: FASB ASU 2021-06 -  https://www.fasb.org/cs/Satellite?c=Document_C&cid=1176177037677&pagename=FASB%2FDocument_C%2FDocumentPage FASB Disclosure of Supplier Finance Program Obligations -  https://www.fasb.org/jsp/FASB/FASBContent_C/ProjectUpdateExpandPage&ci...

On September 20, NJCPA CEO and Executive Director Ralph Albert Thomas sat down with Jack Ciattarelli, Republican candidate for New Jersey Governor — and member of the NJCPA — to discuss issues important to the business community and the CPA profession. Find out Mr. Ciattarelli’s vision for New Jersey when it comes to the state budget, taxes, business policies, infrastructure improvements, pension...

Our latest 10-minute accounting and auditing update addresses FASB’s adoption of the 2021 SEC reporting taxonomy; lease standard reminders; the Center for Audit Quality’s guidance about external auditors’ responsibilities with regard to illegal acts; and significant upcoming changes to employee benefit plan audits.   Mentioned in this episode: 2021 SEC Reporting Taxonomy -  https://www.f...

With 2021 marking the 100th anniversary of the first Black accountant to be licensed as a CPA in the United States, various organizations have come together to produce a year-long national awareness campaign to recognize Black CPAs and push for greater progress to be made in achieving diversity, equity and inclusion in the CPA profession. Hear from Crystal Cooke, the director of diversity and incl...

This 10-minute episode includes updates on FASB, AICPA and PCAOB issues, including accounting for the employee retention credit; revenue recognition; lease accounting; reporting and attestation of environmental, social and governance (ESG); and audits of broker-dealers. Mentioned in this episode: Revenue, lease accounting still challenge private companies - https://www.journalofaccountancy.com/new...

If you've ever wondered how polls work and whether they’re actually reliable, this is the episode for you. Join us for a fascinating discussion with one of the most respected pollsters in the country - Patrick Murray, director of Monmouth University Polling Institute - as he gives us the scoop on how polling works and what current polling is telling us about President Biden, COVID vaccines and the...

The latest 10-minute accounting and auditing episode includes updates on Financial Accounting Standards Board (FASB) and American Institute of CPAs (AICPA) issues, including: FASB approved the Private Company Council’s Practical Expedient to Measure Grant-Date Fair Value of Equity-Classified Share-Based Awards What CPA firms need to know about the AICPA proposed Statement on Quality Control Standa...

What’s the latest on New Jersey’s cannabis regulations — and what do CPAs need to know to serve clients in the industry? A panel of experts weighs in. More cannabis-related news and events – https://njcpa.org/topics/cannabis NJ Cannabis Insider – https://njcannabisinsider.nj.com NJ CannaBusiness Association – https://newjerseycannabusiness.com

We’re excited to add a bi-weekly accounting and auditing update to the IssuesWatch Podcast. These 10-minute episodes are hosted by Brad Muniz, CPA, partner in charge of accounting and auditing at SobelCo. This inaugural episode addresses: FASB: ASU 2021-05 – Leases AICPA: SAS 144 – Use of Specialists and the Use of Pricing Information | Accounting and Auditing for Digital Assets Practice Aid | CPA...

Recent data suggests that we’re witnessing a nationwide decline in both new CPAs and college accounting program enrollments. Why is this happening, and what can be done about it? Do the profession and the CPA license have a branding problem? Are accounting firms and companies doing anything to adapt? We discuss all of this and more in an eye-opening conversation with Todd Shapiro and Kari Natale f...

This was one of the most unusual budget seasons in New Jersey's history! Instead of being several billion dollars short, as was projected when the fiscal year 2021 budget was being drafted, the state has seen a $10 billion surplus. Listen to our interview with NJBIA's Chris Emigholz to find out where all of that money is going.

If you or your clients need help creating a business plan, accessing grants, contacting the New Jersey Division of Taxation, or navigating permitting or other regulatory requirements, be sure to learn about the New Jersey Business Action Center. Executive Director Melanie Willoughby discusses the advocacy, assistance and resources the NJBAC provides to business owners for free. #IssuesWatch #Podca...

  Hear a lively discussion about pressing New Jersey issues from a panel of seasoned journalists. This episode includes highlights from the New Jersey Business and Economic Roundtable hosted at the NJCPA Virtual Convention on June 18. Hear what our panelists — Tom Bergeron of ROI-NJ, John Reitmeyer of NJ Spotlight News and Rhonda Schaffler of NJ Business Beat — have to say about the state budget,...

As New Jersey emerges from the pandemic, many questions remain about the economic recovery of the state's individuals and businesses - as well as the state's budget and finances. We sat down with Senator Steven Oroho - the only CPA in the state legislature - to discuss the economic outlook, the $6.4 billion New Jersey is receiving from the American Rescue Plan, state taxation of remote workers and...

What are the top issues impacting CPAs nationwide? There’s no one more qualified to provide insight than Barry Melancon, CPA, CGMA, president and CEO of the American Institute of CPAs. We talk to him about tax deadlines, possible tax increases, prospects for the U.S. economy and the rising trend across the country to minimize professional and occupational licensing rules as well as to tax professi...

There’s a lot going on right now in politics and economy impacting New Jersey businesses. So we turned to Tony Russo, president of the Commerce and Industry Association of New Jersey, to weigh in on the state budget, the $6.4 billion heading our way from the American Rescue Plan, the upcoming elections, the state’s new tax incentive programs and more.

The past year has been devastating for many small businesses. Holly Wade, the executive director of the National Federation of Independent Business (NFIB) Research Center, discusses the overall outlook for the small business sector, vital aid that’s available from the American Rescue Plan and ongoing challenges facing small businesses. Learn more about NFIB at http://nfib.com  

The vast majority of New Jersey residents and business owners have never heard of the Energy Master Plan. Well, they should start paying attention, because it could cost them tens of thousands of dollars. Get an overview of the plan and hear from our experts — Regina Egea of Garden State Initiative and Mike Butler of the Consumer Energy Alliance — about why important modifications are needed to pr...

In this episode, NJCPA President Alan Sobel, CPA, outlines the ongoing issues with the implementation of the New Jersey Business Alternative Income Tax, the NJCPA’s ongoing efforts to get the issues rectified and what members can do in the meantime. Learn more about the NJ BAIT at https://njcpa.org/bait .

Two public policy experts help us analyze Governor Murphy’s $45 billion proposed budget for New Jersey’s 2022 fiscal year. Is the budget good or bad for New Jersey residents and business owners? Is this level of spending sustainable? And what are the prospects that major changes will be made as the proposed budget is scrutinized by the Legislature? Tune in to find out. Learn more about our sponsor...