Regulatory Roundup: Aug. 9-15

By:
Chris Gaetano
Published Date:
Aug 15, 2017

AICPA 

AICPA Announces Successful Launch of Personal Financial Planning Program for College Accounting Students
Press Release:  The AICPA announced the successful introduction of the University Program in Personal Financial Planning for accounting majors who plan to become CPAs.
Published on August 15, 2017

Free Practitioner Webcast from AICPA Working Effectively with Clients in Emotional Situations
Media Advisory:  The AICPA Personal Financial Planning Section is offering a free practitioner webcast on techniques to effectively work with emotional clients.
Published on August 14, 2017

AICPA Supports Implementation of Credit Union Regulatory Bodys New Policy on Audit Report Submissions
Press Release:  The American Institute of CPAs supports the National Credit Union Administration’s focus on the overall integrity of audit report submissions, and recently worked with the regulatory body to remove obstacles to the implementation of a new policy designed to reduce the risk of manipulation or fraud by credit union management.
Published on August 14, 2017

AICPA Announces UT Austin Professor Michael Granof as 2017 Distinguished Achievement in Accounting Education Award Winner.
Press Release:  Michael Granof, professor at The University of Texas at Austin, is the winner of the 2017 AICPA Distinguished Achievement in Accounting Education Award.
Published on August 09, 2017

Free Consumer Webcast from AICPA What to Do When Cancer Changes Your Financial Plans
Media Advisory:  NEW YORK (AUGUST 9, 2017) – A cancer diagnosis isn’t limited to physical and emotional hardship. It can put someone in a hard spot financially too. For both the cancer patient and the family/loved ones facing this challenge, a trusted CPA financial planner can help navigate the difficult financial matters that lay ahead.  
Published on August 09, 2017 

CBO

Presentation
CBO’s Budget and Economic Outlook: 2017 to 2027
August 15, 2017

Blog Post
CBO to issue a report on Tuesday about the effects of terminating payments for cost-sharing reductions
August 14, 2017

Report
Sequestration Update Report: August 2017
August 11, 2017

Cost Estimate
H.R. 2083, Endangered Salmon and Fisheries Predation Prevention Act
August 10, 2017

Cost Estimate
S. 886, DHS Acquisition Review Board Act of 2017
August 9, 2017

Cost Estimate
H.R. 1558, Repeatedly Flooded Communities Preparation Act
August 9, 2017

Working Paper
Distribution of Lifetime Medicare Taxes and Spending by Sex and by Lifetime Household Earnings: Working Paper 2017-05
August 9, 2017

FASB

Private Company Council  [08/10/17]
July 11, 2017 Meeting Minutes

GAO

Foreign Military Sales:
Expanding Use of Tools to Sufficiently Define Requirements Could Enable More Timely Acquisitions
GAO-17-682:Published: Aug 14, 2017. Publicly Released: Aug 14, 2017.

Federal Reports:
OMB and Agencies Should More Fully Implement the Process to Streamline Reporting Requirements
GAO-17-616:Published: Jul 14, 2017. Publicly Released: Aug 14, 2017.

International Food Assistance:
Agencies Should Ensure Timely Documentation of Required Market Analyses and Assess Local Markets for Program Effects
GAO-17-640:Published: Jul 13, 2017. Publicly Released: Aug 14, 2017.

Afghanistan Security:
U.S.-Funded Equipment for the Afghan National Defense and Security Forces
GAO-17-667R:Published: Aug 10, 2017. Publicly Released: Aug 10, 2017.

Military Bands:
Military Services Should Enhance Efforts to Measure Performance
GAO-17-657:Published: Aug 10, 2017. Publicly Released: Aug 10, 2017.

World Trade Center Health Program:
Improved Oversight Needed to Ensure Clinics Fully Address Mandated Quality Assurance Elements
GAO-17-676:Published: Aug 10, 2017. Publicly Released: Aug 10, 2017.

Defense Logistics:
Plan to Improve Management of Defective Aviation Parts Should Be Enhanced
GAO-17-588R:Published: Aug 9, 2017. Publicly Released: Aug 9, 2017.

Space Launch:
Coordination Mechanisms Facilitate Interagency Information Sharing on Acquisitions
GAO-17-646R:Published: Aug 9, 2017. Publicly Released: Aug 9, 2017.

IASB

11 August 2017
Joint investor outreach event in Hong Kong—5 September 2017

IRS 

Don’t Take the Bait, Step 6: Watch Out for the W-2 Email Scam
IR-2017-130, August 15, 2017 — The IRS, state tax agencies and the tax industry today urged tax professionals and businesses to beware of a recent increase in email scams targeting employee Forms W-2.

IRS Reminds Truckers: For Most, Highway Use Tax Return Is Due Aug. 31; E-file Is a Convenient Filing Option
IR-2017-129, Aug. 10, 2017 — The Internal Revenue Service today reminded truckers and other owners of heavy highway vehicles that, in most cases, their next federal highway use tax return is due Thursday, Aug. 31, 2017.

NYC Dept. of Finance 

August 11, 2017
Zal Kumar, Director of Business Tax Services, testifies to the NYC Council Committee on Finance on Pre-Considered Intro 6461.

August 10, 2017
Adopted Amendments to rules that Power of Attorney forms do not require notarization under any circumstances.

NYS Dept. of Taxation and Finance

NYS Tax Department Reminds Parents and Students about Tax Free Shopping During Back-to-School Season Course textbooks, clothing, and footwear sold for less than $110 are exempt from NYS sales tax
Monday, August 14, 2017

SEC

SEC Charges KPMG with Audit Failures
Aug. 15, 2017

SEC Files Charges in Oil Drilling Investment Scheme
Aug. 11, 2017 

Click here to see more of the latest news from the NYSSCPA.