Blog
A Call for You to Reach Out to Congress to Delay BOI Reporting Requirements
December 15, 2023
New beneficial ownership information reporting requirements will affect small businesses including small CPA firms starting Jan. 1. The U.S. House of Representatives passed H.R. 5119, Protect Small Business and Prevent Illicit Financial Activity Act, providing a one-year delay to the start of the rule. Reach out to your senators to ask them to pass the bill.
WSCPA Supports Letter Asking for Bills to be Included in Year-End Legislative Package to Delay BOI Reporting Requirements
December 14, 2023
In a letter addressed to members of the House Financial Services Committee and Senate Banking Committee, the AICPA and all 54 state CPA societies, including the WSCPA, asked that H.R. 4035 and S. 2623, the Protecting Small Business Information Act of 2023, or similar legislation to delay, be included in any year-end legislative package.
How to Add External Events to Your WSCPA CPE Transcript via LCvista
December 06, 2023
Want to customize your WSCPA CPE Transcript by adding any courses that you've taken from other vendors? Here's how!
Export CSV File of Your WSCPA CPE Transcript for License Renewal
December 05, 2023
Submitting your required CPE for license renewal just got easier!
False Claims Related to PPP Loans
November 30, 2023
The following Q&A with CAMICO Claims experts reflects recent claims experience involving potential false claims related to Paycheck Protection Program (PPP) loans issued (and forgiven) during the COVID-19 pandemic.
What's the Risk?
November 27, 2023
Updated quality management standards promote a risk-based approach to planning and performing group audits. This article from the fall issue of The Washington CPA magazine, outlines what's new and how to implement the standards.
Stopping a Cyberattack in Its Tracks
November 16, 2023
Is your firm prepared to stop a cyberattack? Do you have the appropriate measures in place to prevent damage from a ransomware attack? Find out by reading this CAMICO Claims Chronicle.
Neurodiversity in Accounting: A Career Match
November 13, 2023
Diversity, equity and inclusion (DEI) efforts have swept the accounting nation and generally take the form of inclusiveness among different races, genders and abilities. Neurodiversity is another piece of the DEI pie.
Risk Management Tips for the Tax Practitioner
November 09, 2023
Although most agree that the current tax season has signs of returning to normalcy after the pandemic-induced chaos of recent years, CPA firms continue to face unique challenges and risks they should not ignore.
WSCPA Supports Comment Letter Calling for an Extension and Expansion in Beneficial Ownership Reporting Requirements
November 07, 2023
The WSCPA has joined AICPA and dozens of other state CPA societies to ask the Financial Crimes Enforcement Network to extend and expand the deadline for beneficial ownership information (BOI) reporting requirements, specifically for Reporting Companies Created or Registered in 2024.
From Have-to-Do to Glad-I-Did: Maximizing the Value of Your CPE Credits for Lifelong Learning
November 06, 2023
Do you see CPE as a dreaded chore? Here are some strategies to make your CPE journey more rewarding.
Compliance with the Federal Trade Commission 'Safeguards Rule'
November 02, 2023
Is your firm fully compliant with the revised Safeguards Rule? What constitutes client/customer records is somewhat unique for every organization, and that certainly holds true for CPA firms and tax professionals.
The Latest on Washington’s Capital Gains Tax
October 31, 2023
It is no secret that the new Washington Capital Gains Excise Tax, which taxpayers have begun paying for the 2022 tax year, has been a controversial and complex tax. In feedback shared with the DOR yesterday, the WSCPA highlighted the ambiguities in the language and additional unanticipated problems which came to light during the recently-concluded tax season.
CPA Pipeline Research – We Need Your Help
October 30, 2023
The Washington Society of CPAs is collaborating on an important research study focusing on the decision to pursue, or not pursue, the Certified Public Accountant (CPA) credential. This survey aims to gain fresh insight into the factors impacting the decision to become a CPA or to not become a CPA. The responses will be compared against previous Decoding the Decline research findings.
Talent Management Considerations for Nonprofits
October 30, 2023
Over the past couple of years, many nonprofits have experienced challenges attracting and retaining talent. Nonprofit organizations can take a number of approaches to strengthen their talent management efforts, as outlined in this article.
Implications of Recent Professional Standards
October 26, 2023
Plaintiffs and their legal counsel often leverage noncompliance with professional standards to strengthen cases in support of allegations of harm caused by accountants. This article highlights risk management implications of recent professional standards and offers risk management tips regarding established standards governing financial statement services.
Increase Opportunities, Credibility and Earning Power with AICPA Credentials
October 24, 2023
In order to succeed in an increasingly crowded marketplace, many financial professionals are leveraging the rapid growth of advisory services by choosing to offer specialized knowledge to their clients or employers.
Utilizing ChatGPT as a Tax Assistance Tool: A Practical Guide
October 23, 2023
Questioning whether you need to adopt artificial intelligence (AI) in your tax practice today is like an accountant 20 years ago deciding whether to use tax preparation software or continue to prepare paper tax returns. Putting AI tools into practice should be something that practitioners embrace.
Corporate Transparency Act/Beneficial Ownership Information Reporting — Risk Management Considerations for CPA Firms
October 20, 2023
The Corporate Transparency Act (CTA), enacted January 2021, mandates certain entities report “beneficial owner” information to the Financial Crimes Enforcement Network. Here are some of the key CTA provisions and significant issues, critical unknowns, and potential risks facing accounting firms.
Washington CPA Exam Credit Reinstatement: Hundreds of CPA Candidates Can Continue Their Journey to CPA Thanks to New Program
October 20, 2023
At the Washington Board of Accountancy (WBOA) meeting on October 20, a CPA exam credit reinstatement program was adopted and is effective immediately. As a result of this program, Washington exam candidates who lost CPA exam credits between January 30, 2020, and December 31, 2023, will have until June 30, 2025, to complete the remaining sections of the exam.