Nicole Maimon

PwC will be hosting its Q1 2026 Quarterly Accounting Webcast on March 11, with additional sessions on March 19 and March 25. 📅 This 90‑minute session, led by the PwC US National Office, will walk through the key accounting and financial reporting considerations companies should keep top of mind as they close out the quarter. ✅ The webcast is designed for CFOs, controllers, finance directors, audit committee members, and anyone involved in US reporting. For Ireland‑based companies with US filing obligations, this is a valuable opportunity to stay aligned with US regulatory expectations and ensure your teams are prepared for quarter‑end. 🖥️ Register for the session at link ↙️ https://lnkd.in/dBqsymp2

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 Key Updates from the AICPA's July 2025 A&A Focus Webcast 🏛️ Guidance on Frozen Federal Funds One of the most critical updates for NFPs involves the recognition and reporting of federal funds that have been frozen or delayed. The AICPA’s Audit and Accounting Guide for Not-for-Profit Entities offers clarity on how to treat these funds, especially in light of the unique restrictions they might carry. Timing and Recognition – NFPs must assess whether the freeze or delay impacts revenue recognition. Funds that are subject to unresolved restrictions should be held in a liability account until the issue is cleared. This ensures accurate financial reporting and helps NFPs stay compliant with both GAAP and federal guidelines. Potential Adjustments – The treatment of these funds is context-dependent—organizations must carefully evaluate the facts and circumstances to determine the appropriate accounting treatment. The complexity of such funds underlines the importance of internal controls to ensure compliance and transparency in financial statements. 🧑‍💻 AI and Other Key Updates While the frozen funds issue is top of mind, the webcast also covered two other pivotal topics: AI Governance – Cathy Cobey, CPA, shared the growing importance of implementing AI governance frameworks to ensure transparency and ethical use. These systems will support auditors in making more efficient, accurate decisions. Not-for-Profit Financial Reporting Challenges – Beyond frozen funds, the AICPA also touched on other challenges NFPs face in financial reporting, such as evolving guidance on revenue recognition and handling federal grants. NFPs must stay up to date on government funding changes to mitigate risk and maintain compliance. With the complexity around frozen funds, NFPs must remain vigilant in ensuring proper accounting treatment. This update from the AICPA’s Audit and Accounting Guide is just one of the many ways the profession is adapting to today’s financial landscape. As always, understanding the nuances of fund classification, timing, and restrictions is critical for accurate reporting. For more details on these updates, read the full recap from the AICPA webcast here: https://lnkd.in/d_-bU_Qr #NotForProfit #FinancialReporting #FrozenFunds #GAAP #AICPA #TaxCompliance #AI #Audit #Accounting

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The AICPA and state CPA societies are calling on the U.S. Department of Education to explicitly include accounting programs in the regulatory definition of “professional degree programs” -- a designation that helps determine education loan eligibility.

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KPMG is shutting down its audit practice for the federal government after losing a lucrative Pentagon contract, as well as laying off 4% of its advisory practice in the U.S., the latest in a series of cutbacks at the Big Four firm. The move came after KPMG lost a $60 million-per-year contract with the Defense Department, mainly providing services to the U.S. Army.

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The One Big Beautiful Bill Act (OBBBA) is reshaping #M&A strategies with new tax provisions. #CFOs, it’s time to revisit your financial models and deal structures to uncover opportunities and mitigate risks. How is your organization adapting? https://deloi.tt/42UbADc

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I tell clients all the time: SOX isn’t just about audit prep. It’s a credibility check. When a board member asks, “Can we trust your numbers?”—what they’re really asking is: 1️⃣ Is your data reliable? 2️⃣ Are your processes repeatable? 3️⃣ Can your team spot issues before the auditors do? Strong internal controls are the answer, but too often they’re seen as back-office compliance rather than business-critical infrastructure. In reality, a good control environment enables smarter decisions, faster pivots, and greater investor confidence. So here’s a question for you to consider: 👉 What’s one internal control you wish more execs took seriously? I’ll go first. Periodic access reviews all the way. It’s basic, but so overlooked. And it's one of the fastest ways to spot risk before it becomes a major issue.

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A letter to the Department of Education signed by the AICPA and other accounting organizations expresses opposition to draft regulations that would exclude accounting from professional degree designation.

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R&D tax credit rules are evolving – are you ready? My Crowe colleague Sophia Shah, CPA breaks down what companies need to know about the changes to stay ahead and maximize benefits in @Life Science Leader. http://bit.ly/4lkd1lc

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Trust remains the bedrock of our profession, and audit quality is where that trust is earned. That’s why I’m so pleased to share the 2025 KPMG US Audit Quality Report.   Sustaining audit quality with innovation is more critical than ever as capital markets navigate rapid change. We’re proud of our track record, reflecting our commitment to both quality audits and a quality experience for audit committees, management teams, and our people.    Today, our auditors are using GenAI and AI agents built directly into KPMG Clara AI. Our technology platform and service delivery model are uniquely capable of providing assurance capabilities that can support organizations at every stage of their AI journey, while also serving private companies with a simple, flexible and agile audit approach.    Bottom line: KPMG is poised to lead the audit and assurance profession into the future, serving and protecting the capital markets amidst AI transformation.   You can read more in our 2025 Audit Quality Report: https://lnkd.in/e3bJ7gcf

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A confluence of trends and factors. AI, offshoring, retention rates, etc. We’ve been discussing this in the profession for years. Here are a couple of key questions. With reduced hiring, the pipeline is thinner. Where are the next generation of firm managers, and, ultimately, partners then coming from? Lateral moves within the profession? And if work is offshored, how will we ensure that domestic staff learn and develop as they move ahead in the careers? The veterans (like me) learned from the ground up. Not saying that this was the best way, or the only way, but … training, including classroom and OTJ, will have to address this new ecosystem. And, ironically, this is coming at a time when the number of undergraduate accounting majors is growing and rebounding. And as states implement additional pathways towards certification. So increased supply and reduced demand. The economics have to be affected - assuming that I remember my Eco 101 fundamentals. A hunch: We won’t recognize this profession in 5 years. From the organizational model to the delivery model, there is a radical change coming. As one modern bard sang in a different comtext, “The times, they are a’changing.”

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As audit committees around the world navigate 2026, they’re juggling expanded risks, evolving tech, and increased scrutiny—often at the same time A new Deloitte US Pulse Blog post is a quick, practical read on what audit committees around the world may want to prioritize in the year ahead: 🧭 Enterprise risk management (ERM) connected to strategy and risk appetite 🛡️ Cyber risk + resilience—and how prepared the organization really is 🔎 Fraud and compliance, especially in an AI-enabled environment 🔗 Third-party / supply chain risk and business continuity 🤖 AI governance (ownership, controls, accountability) 👥 And the big one: audit committee effectiveness—skills, bandwidth, and committee composition Read it here: https://lnkd.in/eT9nTGkQ #AuditCommittee #BoardGovernance #RiskManagement #CyberSecurity #AIGovernance Alfred Popken, Andrew Mackie, Kristen VanderVelde, Jessica Scalice, Kevin Tracey, Fiona Dickson, Krista Parsons, Tracy Gordon, Jan Meyer, Arno Probst, Claus Buhleier, Lars Siggaard Hansen, Niels Vendelbo

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FASB refines interim reporting for greater clarity and consistency. Learn how the new ASU streamlines interim reporting and improves usability for preparers and auditors. #audit #kpmgfrv https://bit.ly/4qVDyrx

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KPMG US professionals analyze the revised versions of two proposed retaliatory tax measures in proposed section 899, evaluating their alignment with Congress’s policy goals. #WNT https://bit.ly/3ThdGb5

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