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The International Auditing and Assurance Standards Board has posted two new documents to help jurisdictions around the world adopt and implement its recent standard on sustainability assurance.The guidance pertains to International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.In response to requests from its constituents, the IAASB has prepared reference extracts containing only the material in ISSA 5000 relevant to limited assurance engagements and, separately, reasonable assurance engagements. The extracts aim to help regulators, standard setters and other stakeholders more easily identify the requirements and application material most relevant to their jurisdictional decisions while not actually…

The Internal Revenue Service doesn’t plan to renew a $500,000 annual contract to repair the self-service kiosks at its walk-in Taxpayer Assistance Centers across the country after a contractor failed to keep many of them in working order and the kiosks were seeing less use by the public.The Treasury Inspector General for Tax Administration reported Monday that the IRS now plans to discontinue the kiosk program, which dates back to 2011, and focus instead on other self-service options for taxpayers. The kiosks are computer terminals designed to give taxpayers tools and support to help themselves access IRS services. For instance,…

The sprawling new tax law dubbed the One Big Beautiful Bill Act includes a number of provisions that present opportunities for accountants and tax professionals to discuss estate and gift planning. “There was a lot of anticipation about this bill, both from an estate planning point of view and otherwise,” said Tasha Dickinson, a partner at the law firm Day Pitney in West Palm Beach, Florida. “The Tax Cuts and Jobs Act of 2017 had implemented a $5 million estate and gift tax exemption amount that was set to double to $10 million. Indexed for inflation, in 2025 the exemption amount…

People walk past a Coach store on Madison Avenue in New York. Carlo Allegri | ReutersShares of Coach and Kate Spade parent Tapestry plunged Thursday after the company said tariffs will bite into its profits even as sales grow.The handbag, shoe and accessory maker said costs from higher duties will total $160 million for its coming fiscal year and drag on its profits. It said it expects full-year fiscal 2026 earnings of $5.30 to $5.45 per share, while analysts polled by FactSet were looking for $5.49.On the company’s earnings call, Chief Financial Officer Scott Roe said sales trends have been…

The John Deere logo is displayed as attendees view a 5105M utility tractor at the Deere & Co. booth during the World Ag Expo at the International Agri-Center in Tulare, California on February 11, 2025.Patrick T. Fallon | AFP | Getty ImagesJohn Deere is warning that tariff costs for the agricultural machinery company could reach a total of $600 million for the fiscal 2025 year.The company released its fiscal third-quarter earnings report Thursday, beating on the top and bottom lines but posting significant year-over-year decreases in net income and sales.The stock sank roughly 7% in midday trading.The company noted that…

Mounjaro manufactured by Eli Lilly and Company packaging is seen in this illustration photo taken in a pharmacy in Krakow, Poland on April 9, 2024.Nurphoto | Nurphoto | Getty ImagesEli Lilly on Thursday said it is raising the list price of its blockbuster diabetes drug Mounjaro in the U.K. starting in September, as President Donald Trump pressures drugmakers to lower U.S. drug prices and hike them abroad.In a statement, Eli Lilly said it reached an agreement with the U.K. government to increase the list price of the weekly injection, while “maintaining access” for patients covered under the publicly funded health-care…