Regulatory Roundup: Aug. 2-8

By:
Chris Gaetano
Published Date:
Aug 8, 2017

AICPA 

AICPA Honors James Madison University Student and Marine Veteran with Medal of Inspiration 
Anaheim, Calif. (August 4, 2017) – The American Institute of CPAs (AICPA) is pleased to announce William Chapman, an undergraduate student at James Madison University (JMU), has been awarded Beta Alpha Psi’s Medal of Inspiration Award. The award was presented today at the Beta Alpha Psi Annual Meeting in Anaheim, CA.

Lindsay Stevenson Presented with AICPA’s Outstanding Young CPA Award in Honor of Maximo Mukelabai 
New Orleans (August 3, 2017) – The American Institute of CPAs (AICPA) is pleased to name Lindsay Stevenson, CPA, CGMA, Vice President of Finance & Tax at 1st Financial Bank USA, winner of the 2017 AICPA Outstanding Young CPA Award in Honor of Maximo Mukelabai. Stevenson was recognized for her volunteer activities within her community, her service to the AICPA and the work she has done with both the South Dakota CPA Society (SDCPAS) and the Arizona Society of Certified Public Accountants (ASCPA) to promote the profession.

CBO

Report
Monthly Budget Review for July 2017
August 7, 2017

Cost Estimate
H.R. 1293, an act to amend title 5, United States Code, to require that the Office of Personnel Management submit an annual report to Congress relating to the use of official time by federal employees
August 4, 2017

Cost Estimate
H.R. 1074, a bill to repeal the Act entitled “An Act to confer jurisdiction on the State of Iowa over offenses committed by or against Indians on the Sac and Fox Indian Reservation”
August 4, 2017

Cost Estimate
H.R. 195, Federal Register Printing Savings Act of 2017
August 4, 2017

Cost Estimate
H.R. 1758, Brownfields Reauthorization Act of 2017
August 4, 2017

Cost Estimate
H.R. 194, Federal Agency Mail Management Act of 2017
August 4, 2017

Cost Estimate
H.R. 1679, FEMA Accountability, Modernization and Transparency Act of 2017
August 4, 2017

Cost Estimate
H.R. 1117, an act to require the Administrator of the Federal Emergency Management Agency to submit a report regarding certain plans regarding assistance to applicants and grantees during the response to an emergency or disaster
August 4, 2017

Cost Estimate
H.R. 2805, Asia-Pacific Economic Cooperation Business Travel Cards Act of 2017
August 4, 2017

Cost Estimate
H.R. 3219, Make America Secure Appropriations Act, 2018
August 4, 2017

Presentation
The Congressional Budget Office: Its Role, Long-Term Projections, and Use of Research
August 4, 2017

Cost Estimate
S. 1312, Trafficking Victims Protection Act of 2017
August 3, 2017

Cost Estimate
S. 1519, National Defense Authorization Act for Fiscal Year 2018
August 3, 2017

Report
Answers to Questions for the Record Following a Hearing on CBO’s Appropriation Request for Fiscal Year 2018 Conducted by the Subcommittee on the Legislative Branch, Senate Committee on Appropriations
August 3, 2017

Cost Estimate
H. Con. Res. 69, a concurrent resolution authorizing the use of the Capitol Grounds for the District of Columbia Special Olympics Law Enforcement Torch Run
August 2, 2017

Cost Estimate
S. 810, a bill to facilitate construction of a bridge on certain property in Christian County, Missouri, and for other purposes
August 2, 2017

FAF

Private Company Council  [07/11/17]
Meeting Recap

FASB 

FASB Proposes Improvements
to Not-For-Profit Grant and Contribution Accounting  [08/03/17]
News Release
Exposure Document
FASB In Focus

FASB Outlook E-Newsletter Q3 2017  [08/01/17]
Newsletter

GASB

GASB Statement on the Passing of GASAC Member Richard (Dick) Larkin  [08/04/17]
Statement

GAO 

F-35 Joint Strike Fighter:
DOD's Proposed Follow-on Modernization Acquisition Strategy Reflects an Incremental Approach Although Plans Are Not Yet Finalized
GAO-17-690R:Published: Aug 8, 2017. Publicly Released: Aug 8, 2017.

DOD Biometrics and Forensics:
Progress Made in Establishing Long-term Deployable Capabilities, but Further Actions Are Needed
GAO-17-580:Published: Aug 7, 2017. Publicly Released: Aug 7, 2017.

Small Business Contracting:
Surety Bond Waivers for Construction Contracts
GAO-17-683R:Published: Aug 7, 2017. Publicly Released: Aug 7, 2017.

Corps of Engineers:
Extent and Status of Expedited Permit Processing for Public-Utility Companies, Natural Gas Companies, and Railroad Carriers
GAO-17-678R:Published: Aug 3, 2017. Publicly Released: Aug 3, 2017.

Information Security:
OPM Has Improved Controls, but Further Efforts Are Needed
GAO-17-614:Published: Aug 3, 2017. Publicly Released: Aug 3, 2017.

Pipeline Safety:
Additional Actions Could Improve Federal Use of Data on Pipeline Materials and Corrosion
GAO-17-639:Published: Aug 3, 2017. Publicly Released: Aug 3, 2017.

Federal Real Property:
Status of FBI Headquarters Consolidation and Issues Related to Funding Other Future Projects
GAO-17-783T:Published: Aug 2, 2017. Publicly Released: Aug 2, 2017.

IASB

03 August 2017
IFRS Foundation seeks taxonomy specialists and other technical staff

03 August 2017
New webinar: How does IFRS 17 measure insurance contracts with short coverage periods?

IRS 

Security Summit Alert: Tax Pros Warned of New Scam to Steal Their Passwords
IR-2017-126, Aug. 4, 2017— The IRS, state tax agencies and the tax industry today warned tax professionals to be alert to a new phishing email scam impersonating tax software providers and attempting to steal usernames and passwords.

NYC Finance Department 

August 4, 2017
Posted 2017 Final Lien Sale List.

NYS Dept. of Taxation and Finance 

Child Support Awareness Month Begins in New York State 

NYS Tax Department Announces $750,000 Grant to Fund Digital Forensics Lab

PCAOB 

PCAOB Announces $1 Million Settlement with PricewaterhouseCoopers for Violations in its Examination and Audit of Merrill Lynch’s Compliance with the SEC Customer Protection Rule
WASHINGTON, Aug. 2, 2017
The Public Company Accounting Oversight Board today announced that it censured and imposed a $1 million civil penalty against PricewaterhouseCoopers LLP for violations in its examination and audit of Merrill Lynch, Pierce, Fenner & Smith, Incorporated's compliance with the Securities and Exchange Commission's Customer Protection Rule in fiscal year 2014.

PCAOB Announces 167 Scholarships for the 2017-2018 Academic Year
WASHINGTON, Aug. 2, 2017
The Public Company Accounting Oversight Board today announced the recipients of $10,000 merit-based scholarships that are intended to encourage accounting students to pursue careers in audit.

SEC

Investment Management Director David W. Grim to Leave SEC Aug. 3, 2017

Overseas Stock Manipulator Settles SEC Charges Aug. 2, 2017

TIGTA 

Affordable Care Act: Implementation of the Notification Requirement for Individual Filers Not Enrolled in Health Insurance
WASHINGTON — Although required by the Affordable Care Act (ACA) to do so, the Internal Revenue Service (IRS) did not issue notification letters to taxpayers without Minimal Essential Coverage (MEC) for Tax Year 2014 by the statutory June 30, 2015, deadline, according to an audit report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA).

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