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3 Things You Need to Know About Peer Review, MICPA Annual Meeting, New F65 Available Today and more

by MICPA | Aug 01, 2017   ()

Up for a Peer Review This Year?  3 Things You Need to Know Now
The peer review process is now primarily managed electronically through a new system known as Peer Review Integrated Management Application (PRIMA). You will no longer receive or use hard copy forms. Related email communications are being sent directly from the AICPA (prima@aicpa.org) to your firm’s peer review contact and managing partner. (You’ll want to make sure the correct email information is listed with PRIMA.) Six months prior to your peer review due date, you should receive communications from prima@aicpa.org regarding scheduling. If you have not receweived such communications, or if your firm is due for a peer review between now and January 2018 and you have not received any communications regarding peer review, please reach out to the MICPA Peer Review Department immediately at 248.267.3700.

MICPA Annual Meeting Reminder
As noted in the June 13, 2017 issue of E-News, the Annual Meeting of the Association is scheduled for 8:30-9 a.m. on September 20, 2017 via webcast and conference call. See details and register online.  

New F65 Available Starting Today
Michigan Treasury’s new Annual Financial Report (F65) is available starting today, Aug. 1, for local government users. Local units with an Aug. 31 due date or later can now file this and other forms from one online site. Also beginning today, there is an option to import accounting software data to the new F65 system. A recent Treasury Bulletin indicates that while most users will not implement the importing feature, those who would like to upload their accounting data should call Treasury at 517.373.3227 and ask for “F65 importing assistance” to obtain the importing schema and directions. 

YouTube: Why Every Tax Professional Needs a Security Plan
This IRS YouTube video explains the importance for all tax professionals of having and adhering to a data security plan.

Improve Mobile Security With These 4 Quick Tips
Working remotely is convenient, but it can expose organizations to data breaches if workers’ mobile devices are not properly secured. Learn more in this CGMA Magazine article.

Not-For-Profit Standard Early Adopter: How to Navigate the Changes
Facing their most significant financial reporting changes in more than 20 years, not-for-profits move to implement the Financial Accounting Standards Board's new standard. In a recent Journal of Accountancy online article, Alyssa Federico, CPA, explains how a community foundation with $2.2 billion in assets handled the changes. READ MORE

Technical Q&As Tackle Inappropriate Accounting Standards
The AICPA has released technical questions and answers in response to questions from members auditing governmental entities, including Indian tribes.

Digital Dashboards – The New Frontier in Financial Reporting
Digital dashboards are a hot trend in financial reporting for good reason. Find out how CPAs are perfectly equipped to use this simple new technology to bring added value to client relationships in this article by John Higgins, CPA CITP. And, learn how to create and use these dashboards – with key financial performance indicators (KPIs) -- at these upcoming MICPA webinars.

Source: MICPA
Source: MICPA

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