What’s New / Resources

On October 21, 2015, the IRS announced Cost of Living Adjustments (COLA) related to retirement plans effective January 1, 2016. Highlights include:   Qualified Plan Compensation Limit $265,000.00  Profit Sharing Plan Maximum Plan Contribution Limit $53,000.00  401(k) Maximum Elective Deferral* $18,000.00  Catch-Up Contribution Limit 401(k)* $6,000.00      for participants 50 years old or older during 2014  Wage Base For Social Security $118,500.00   For more information visit: https://www.irs.gov/Retirement-Plans/COLA-Increases-for-Dollar-Limitations-on-Benefits-and-Contributions

The October issue of Integra International’s Audit & Accounting Alert is now available. Topics include: The Elusive Goal of Global Accounting Standards Standard setters realign their strategies. IASB and FASB Agree to Differ on Clarifying Guidance for Revenue Accounting Delayed effective date and principal versus agent questions find agreement Worldwide Update Quarterly roundup of recent and upcoming actions and activities by audit and accounting organizations Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry...

The August issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Mixed Signals for Audits in the Future? Different issues drive US and UK The Internet of Things An evolving force for change in audit and accounting List of Worldwide Accounting Organizations Details of significant groups that impact the accounting profession Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.

The July issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Integra Meets With European Commission in Brussels! EC Officials brief Integra leaders on newly released IFRS evaluation report Pushback on Simplification? Challengers lay out concerns Mixed Results for Latest Audit Inspections British fare better than Americans Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.

The June issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Simplification Efforts Continue: Standards and compliance measures make headway Attention Turns to Non Profit Financial Reporting: FASB and UK reform standards to address current stakeholder needs Worldwide Update: Quarterly roundup of recent and upcoming actions and activities by audit and accounting organizations Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.

It is with great sadness we announce the passing of Jeff Schneider, our colleague, partner, and friend. Jeff was instrumental in the growth and success of Caras & Shulman, PC, and those who were fortunate to work with him will remember his unwavering commitment to the firm and his clients. Jeff began his accounting career in New York after graduating from State University of New York at Binghamton and later earned his Master of Science in Taxation from Bentley College while working at Caras & Shulman. In his nearly 30 years with the firm, Jeff built a reputation as a devoted mentor for our staff, trusted advisor for our clients, and respected member of our partner team. His dedication and humorous, kind, and cheerful nature will be deeply missed.

The April issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Bitcoin: A Fad or the Future for Business?: Virtual currencies seek to transform the conduct of financial transactions Improved Audit Quality Slow in Coming: Third annual international survey plays like a broken record of recurrent deficiencies Revenue Recognition Standard Advances Judiciously: Implementation and interpretation issues are addressed Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.

The March issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Is Your Accounting Data Secure?: New report, COSO in the Cyber Age, offers blueprint for bolstering cyber security Audit Reports to Have a New Look: International Board issues groundbreaking standards Canadian Accountants Unite: CAs, CMAs and CGAs join forces to become Canadian CPAs Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.

The February issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Big Data is Transforming the Audit and Accounting World: Will Google eat the accountant’s lunch? XBRL Promotes Global Transparency in Financial Reporting: The digital language will ease analysis and comparison of financial data Worldwide Update: Quarterly roundup of recent and upcoming actions and activities by audit and accounting organizations Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.

The January issue of Integra International’s Audit & Accounting Alert is now available. Topics include: Signs of Life for IFRS in the United States: SEC opens the door slightly while the FASB and IASB consider a future together The Fraud-Resistant Organization: New report from the Anti-Fraud Collaboration stresses prevention Sustainability Accounting and Reporting Forge Major Inroads: Diverse sources promote the role of accountants Integra International’s Audit & Accounting Alert is provided to association members with the intent to highlight emerging issues in the profession. The goal is to give Integra members an awareness of developments impacting the practice of Audit & Accounting, enabling them to stay on the forefront of industry trends.