NJCPA IssuesWatch Podcast

Understand the risks involved in signing non-disclosure agreements, make sure your firm is on schedule to conform to the AICPA’s new quality management standards, and learn about the PCAOB’s annual report regarding audits of broker dealers.   *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: AICPA quality management resources PCAOB Annual Re...

The legislative landscape for artificial intelligence and privacy rights is rapidly evolving, and states are taking different approaches. Bill Kramer of MultiState Associates joins us to discuss the latest developments nationwide and how they could influence New Jersey's policies.   Resources: Legislative Action Center MultiState Associates

In part two of a two-part episode, Brad and Frank continue to discuss the AICPA’s Technical Q&As. This episode covers cash balances and cash flow statements.  *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: AICPA Technical Questions and Answers Accounting and auditing articles and events Join the Accounting & Auditing Standards Int...

Running a business can be tough. But what if you had a secret weapon? Find out how to harness the power of data analytics and dashboards to streamline operations, increase efficiency and achieve your business goals.   Resources: FourZeroNine Solutions Data Analytics Knowledge Hub

In part one of a two-part episode, Brad and Frank review four key topics included in the AICPA’s Technical Q&As: Pro bono and below-cost fees; familiarity threat; hosting/portal access for clients; and tax planning/prep as non-attest services.   *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . ***   Resources: AICPA Technical Questions and Answers Acco...

A new report by the Illinois CPA Society reveals accounting students’ and early career accounting professionals’ perceptions of CPAs and the CPA credential, along with the top challenges and deterrents driving their decisions. ICPAS’ Geof Brown and Kari Natale join us to discuss the findings – and what those who are already in the profession can do to make it more appealing to the next generation...

RetireReady NJ is a new program in New Jersey that aims to fill the void for workers who do not have access to private employer retirement plans. But, like most well-intentioned state programs, the devil is in the details. Chris Fundora of Traphagen CPAs & Wealth Advisors joins us to discuss what CPAs who represent or work for New Jersey employers need to know. The registration deadlines are f...

This episode dives into disaggregated data – what it is, why it’s done, how it’s incorporated into FASB standards and best practices when it comes to data analytics. *** This episode qualifies for nano CPE credit. Find out more at  https://njcpa.org/nano . *** Resources: FASB: Disaggregation – Income Statement Expenses Accounting and auditing articles and events Join the Accounting & Auditing...

On June 28, New Jersey lawmakers passed the fiscal year 2025 state budget. To summarize it in one word: disappointing. NJBIA's Chris Emigholz joins us to discuss some of the major elements of the budget - the corporate transit fee, the $2.1 billion structural gap, property tax relief, public worker pension funding - and the potential impact and implications.   Resources: New Jersey Budget articles...

More companies seem to be taking advantage of receivable borrowing. This episode takes a look at accounting for borrowing on accounts receivable.   *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: CPA Journal article: Factor Fiction under ASU 2016-15 PCAOB Updates Its Standards To Clarify Auditor Responsibilities When Using Technology-Assis...

CPAs are in a unique position to help their clients plan out and meet their financial goals. Stephanie Hughes of Wiss Private Client Advisors talks with us about how CPAs can incorporate retirement planning, education planning and wealth management into their practice and the benefits this will provide to the firm and its clients.   Resources: Financial Planning Knowledge Hub - https://njcpa.org/h...

While attending the 2024 NJCPA Convention & Expo, Dr. Sean Stein Smith, CPA, sat down with two active NJCPA members - Joe Hunt, CPA, and Phil Sookram, CPA - to discuss trends in the profession and the value they get from attending the Convention with their peers.   Resources: * Upcoming NJCPA events * Become an NJCPA member

SAS 143 has changed the auditor’s requirements around accounting estimates, largely as it relates to the uncertainty of the estimates and management’s bias. Brad, Frank, and Jay will discuss what auditors need to do and what management should expect. Resources:  SAS 143 Updates Accounting and auditing articles and events Join the Accounting & Auditing Standards Interest Group

Forbes recently made a splash when it published its inaugural list of the top 200 CPAs in the country. New Jersey was well represented on the list! But we wanted to dig a little deeper into how the honorees were selected and whether this list will be published annually. Hear what Steel Rose, CPA, senior editor at Forbes, revealed to us.   Resources: America’s Top 200 CPAs - https://forbes.com/top-...

Still concerned about going concern? Brad breaks it all down.     *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: Accounting and auditing articles and events Join the Accounting & Auditing Standards Interest Group

Getting a full picture of New Jersey’s financial status is challenging. It’s not just a matter of reviewing the annual budget. Thanks to recently signed legislation the NJCPA participated in drafting, this is going to become much easier. Audrey Lane, president of Garden State Initiative, talks with us about what type of information will soon be available and why it’s so important.   Resources: NJC...

This episode focuses on materiality, especially as it relates to reviews. It also covers a new quality control standard from the Public Company Accounting Oversight Board (PCAOB).   *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: AR-C Section 90 – Review of Financial Statements PCAOB Adopts New Quality Control Standard Accounting and audit...

Every CPA, firm, company and organization across the country is seemingly taking steps to expand the accounting talent pool. In this episode we discuss one of the leaders of that effort: the Center for Audit Quality (CAQ), a nonpartisan public policy organization serving as the voice of U.S. public company auditors. Guest Liz Barentzen, Vice President Operations and Talent Initiatives with the CAQ...

There are countless books and videos promising to tell you the secrets of leadership. But according to Dr. Sean Stein Smith, CPA and David Almonte, CPA, CGMA – and his seven-year-old daughter – there is no secret. In this episode, Sean and David break down how you can improve the leader within and develop your own unique leadership style. Resources: - Article on leadership - ISSUESWATCH PODCAST |...

How should an auditor approach potential fraud? Find out in the latest episode of the IssuesWatch Podcast.    *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: The auditor’s approach to fraud: Enhanced with forensics (Journal of Accountancy article) - https://www.journalofaccountancy.com/news/2024/mar/the-auditors-approach-to-fraud-enhanced-...

In this episode, we unpack the importance of mental health in the modern workplace. Guests Ifen Donovan and Sarah Krom discuss the rising rates of stress and burnout and explore how companies can build a culture that prioritizes employee wellbeing. They also share actionable steps individuals can take to manage their mental health.   Resources: American Psychological Association’s resources for he...

Busy season is over – it’s time to focus on the health of your firm. Learn about typical findings that will cause your firm to fail its peer review.   *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: Peer review articles, resources and events Accounting and auditing articles and events Join the Accounting & Auditing Standards Interest G...

Nearly 1,000 business leaders recently gathered at the New Jersey Chamber of Commerce’s ReNew Jersey Business Summit to discuss the business climate in New Jersey and how to make it more competitive and attractive. Chamber President Tom Bracken shares the biggest takeaways and also discusses the business community’s reaction to Governor Murphy’s proposed 2.5% corporate transit fee.   Resources: Ne...

After a long stretch without any new accounting standards, the FASB has recently issued two Accounting Standards Updates. Get an overview of what they cover.   *** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano . ***   Resources: FASB ASU 2024-01: Compensation - Stock Compensation FASB ASU 2024-02: Codification Improvements - Amendments to Remove References to...

Some say leaders are born, not made. But there are critical strategies and techniques anyone can use to unlock their leadership potential. Find out more in our conversation with Thomas Metelski, CPA.   Resources: Leadership Knowledge Hub The Value of Values podcast Learn from Thomas and others at the NJCPA Convention & Expo, June 11-14