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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.

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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.

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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.

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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.  

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Washington Now has Longest CPA Exam Window in the Nation

October 20, 2023

The Washington State Board of Accountancy adopted a rule change to allow CPA candidates in our state to have 36 months to complete all four sections of the CPA exam.

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DOR Issues Interim Guidance Statements for Capital Gains Tax

October 13, 2023

The Department of Revenue (DOR) recently issued interim guidance statements regarding the capital gains tax. The statements reflect DOR's current position where final guidance has not yet been published.

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It’s Past Time to Rethink 150

October 13, 2023

There are many barriers that may deter students from entering and remaining in the profession. Chair of the WSCPA Board of Directors, Andrew Brajcich shares the importance of offering potential CPAs alternative pathways into the profession by rethinking the current 150-credit hour rule.

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Pool of Accounting Graduates Continues to Shrink in U.S., AICPA Report Finds

October 12, 2023

The number of students earning U.S. postsecondary accounting degrees fell sharply in the 2021-22 academic year, according to a biennial American Institute of CPAs (AICPA) report on trends related to accounting graduation rates, the CPA Exam and hiring demand by accounting firms.

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What’s Brewing, Future CPAs? Small Talk or Your Next Big Break?

October 05, 2023

Summer’s over, and while you’ve been savoring that iced coffee, the chatter around small talk has been percolating. Want to know how casual conversations can lead you to your dream job? Let's spill the tea!

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FASB Investor Outreach Report

October 02, 2023

Last month the FASB issued their investor outreach report which outlines the outreach performed by the FASB to get feedback from investors as part of their due process. This week blogs takes a look at some of the statistics presented in the report.

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