In the words of famous Bostonian Benjamin Franklin, “Never confuse motion with action.” There was no confusion at the NAIC Summer National Meeting in Boston where regulators and interested parties were consistently in action to keep pace with the changing

A decision recently passed by the New Jersey Tax Court determined that a company incorporated in New Jersey was liable for self-procurement tax based on all of the U.S. premiums paid to its captive insurer. This decision, based on a

More than two years after it began its project, the AICPA Auditing Standards Board (ASB) issued Proposed Statement on Auditing Standards (SAS), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. In January 2015,

Although it intended to simplify and clarify investment disclosures and create more consistent application across entities, the FASB caused some unintended confusion when it issued the following Accounting Standards Updates (ASU): ASU 2015-07 Disclosures for Investments in Certain Entities That

Accounting for contributions and grants by nonprofits requires judgment and interpretation of guidance that has led to diversity in practice among similar organizations. To reduce that diversity, assist in evaluating whether a transaction is a contribution (nonreciprocal) or an exchange

The Treasury Department issued interim guidance covering one of the provisions of the Tax Cuts and Jobs Act (TCJA) with the greatest impact on exempt organizations: the separate reporting of taxable income from unrelated trades or businesses. Under the TCJA,