Accounting & Finance News
The Ledgerism Brief covers accounting news the way a real trade publication should. We report on what changes the work, what changes the cost, and what changes who survives. FASB pronouncements, IRS proposed regulations, PCAOB enforcement, SEC accountant discipline, state board actions, and M&A in the accounting profession itself. Every story is reported by a CPA, reviewed by a second CPA, and links the primary source.
The short version
- FASB ASU 2023-08 effective for fiscal years beginning after December 15, 2024 (crypto at fair value)
- PCAOB AS 1000 General Responsibilities effective December 15, 2024 for issuer audits
- OBBBA Section 1202 QSBS exclusion cap raised to $15M for stock acquired after July 4, 2025
- AICPA SSAE 22 effective for reports dated on or after June 15, 2026
- IRS proposed Reg 1.6045-1 digital asset broker reporting; Form 1099-DA mechanics in active comment
- PCAOB inspection deficiency rate Big 4 FY2024 averaged 23%, the highest reading since 2019
Featured reporting
REGULATORY
Treasury and IRS Propose Electronic 1099-DA Delivery
REG-105064-25 (March 5, 2026) would let digital asset brokers furnish Form 1099-DA statements electronically without offering a paper alternative. Mechanics and finalization timing.
PROFESSION DATA
38 States Have Alternative CPA Pathways
Ohio, Georgia, Virginia, Utah, Wisconsin all have 2026 effective dates. The AICPA-NASBA Uniform Accountancy Act amendment in May 2025 cleared the path.
M&A
280+ CPA Firm PE Deals Projected for 2026
The Cornerstone CPA PE Deal Tracker reports 70+ acquisitions in H1 2026, on pace for 280 by year-end. Cumulative total since 2016 reaches 466 deals.
STANDARDS
FASB ASU 2023-08 Effective FY 2025
Crypto assets held for sale move to fair value. Scope exclusions for NFTs and stablecoins, before and after journal entries.
TAX
OBBBA Lifts Section 1202 QSBS Cap to $15M
Effective for stock acquired after July 4, 2025. The 5-year holding period, the gross-asset test, and a worked example.
PROFESSION
PE Roll-Up Tracker: 42 CPA Firm Recaps
From EisnerAmper TowerBrook (2021) through Aprio Charlesbank and Baker Tilly Moss Adams. Multiples paid where disclosed.
The beats we cover
Our news desk runs on six recurring beats. Each one tracks across multiple stories per month and builds the continuity of reporting most trade press never maintains.
FASB and standards updates
The Financial Accounting Standards Board issued ASU 2023-08 on crypto assets in December 2023, AS 1000 on auditor general responsibilities effective December 15, 2024, and is actively considering revisions to ASC 815 derivatives scope. We track every ASU exposure draft, basis-for-conclusions argument, and effective-date transition note. Read the ASU 2023-08 implementation guide.
IRS regulatory action and revenue rulings
Proposed Reg 1.6045-1 on digital asset broker reporting drew over 44,000 comment letters and remains in active rulemaking. The OBBBA Section 1202 QSBS changes lifted the per-issuer exclusion cap to $15 million. Section 174 R&E capitalization repeal is pending in House budget reconciliation. Track the Section 1202 deep dive and the R&D credit guide.
PCAOB enforcement and inspection findings
Inspection deficiency rates have climbed across firm tiers. Big 4 FY2024 averaged 23%, the highest reading in five years. We track every Part I.A audit deficiency finding by firm and the trend lines that tell you which firms are tightening and which are not. We also cover PCAOB enforcement orders against named partners.
SEC enforcement against accountants
SEC enforcement against accountants and audit firms moved into a higher gear in 2024-2026. We cover every Division of Enforcement action that bars an individual accountant from practicing before the Commission, every Rule 102(e) proceeding, and every settled administrative order against an audit firm.
State board of accountancy discipline
State boards of accountancy issue discipline orders, license revocations, and reciprocity changes that show up nowhere in the national trade press. We aggregate the actions from California, Texas, New York, Florida, and the 10 next largest state boards into a monthly state board digest.
M&A in the accounting profession
EisnerAmper recapitalized with TowerBrook in 2021. Citrin Cooperman with New Mountain Capital. PKF O’Connor Davies with Investcorp and Public Sector Pension Investment Board. Aprio with Charlesbank Capital Partners. Baker Tilly merged with Moss Adams in a Hellman & Friedman transaction. The active deal flow is in the PE Roll-Up Tracker.
How we report
Every news article is bylined to a real CPA, reviewed by a named editor, and cites the primary source. When we say FASB released an ASU, we link the ASU PDF. When we say the PCAOB sanctioned a firm, we link the order on pcaobus.org. When we say an IRS notice changed a reporting requirement, we link the notice on irs.gov. We do not publish reposts of press releases. We do not run sponsored content disguised as editorial. The reader does not have to take our word for anything.
What is coming next
The active build queue: ASU 2023-08 implementation deep dives by industry (asset managers, exchanges, miners); Form 1099-DA digital asset broker reporting analysis once Reg 1.6045-1 is finalized; the post-OBBBA Section 1202 worked-example library; the 2026 PCAOB inspection deficiency rate trend report; and the next quarterly update of the PE Roll-Up Tracker.
Subscribe to the weekly digest
Every Tuesday morning we publish the digest: five minutes of read time, the news that actually moved the work. Send a blank email to editor@ledgerism.net with subject “Weekly digest subscribe” to get on the list.
Bottom line
News on The Ledgerism Brief is reported, not aggregated. A CPA wrote it. A second CPA checked it. A primary source is linked. That is the standard.