Regulatory Roundup: Oct. 25-31

By:
Chris Gaetano
Published Date:
Oct 31, 2017

AICPA 

Americans’ Financial Satisfaction Hits 24-Year High: AICPA Index 
The AICPA’s Third Quarter 2017 Personal Financial Satisfaction Index (PFSi) Sets All-Time Record 
Published October 26, 2017

AICPA Letter to GOP Big Six Policy Makers Outlines Tax Reform Priorities of the Accounting Profession 
Washington (Oct. 25, 2017) – The American Institute of CPAs (AICPA) today sent a letter outlining tax reform priorities of the accounting profession to the group of GOP policy makers known as the Big Six that was responsible for developing the Unified Framework for Fixing Our Broken Tax Code. 

CBO

Cost Estimate
H.R. 760, Postal Service Financial Improvement Act of 2017
October 30, 2017

Cost Estimate
H.R. 2201, Micro Offering Safe Harbor Act
October 30, 2017

Cost Estimate
H.R. 3758, Senior Safe Act of 2017
October 30, 2017

Cost Estimate
H.R. 3903, Encouraging Public Offerings Act of 2017
October 27, 2017

Cost Estimate
H.R. 3562, a bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to furnish assistance for adaptations of residences of veterans in rehabilitation programs under chapter 31 of such title, and for other purposes
October 27, 2017

Cost Estimate
S. 1886, Temporary and Term Appointments Act of 2017
October 27, 2017

Cost Estimate
H.R. 849, Protecting Seniors’ Access to Medicare Act
October 27, 2017

Cost Estimate
H.R. 3561, a bill to amend title 38, United States Code, to permit appraisers approved by the Secretary of Veterans Affairs to make appraisals for the purposes of chapter 37 of such title based on inspections performed by third parties
October 27, 2017

Cost Estimate
S. 832, AGOA and MCA Modernization Act
October 27, 2017

Cost Estimate
H.R. 3441, Save Local Business Act
October 27, 2017

Report
CBO’s 2017 Long-Term Projections for Social Security: Additional Information
October 27, 2017

Report
Changes to CBO’s Long-Term Social Security Projections Since 2016
October 27, 2017

Cost Estimate
H.R. 1313, Preserving Employee Wellness Programs Act
October 26, 2017

Cost Estimate
H.R. 1585, Fair Investment Opportunities for Professional Experts Act
October 26, 2017

Cost Estimate
H.R. 3567, a bill to authorize the purchase of a small parcel of National Resources Conservation Service property in Riverside, California, by the Riverside Corona Resource Conservation District, and for other purposes
October 25, 2017

Cost Estimate
Bipartisan Health Care Stabilization Act of 2017
October 25, 2017

FASB

FASB Outlook E-Newsletter Q4 2017  [10/31/17]
Newsletter

GAO

Opioid Use Disorders:
HHS Needs Measures to Assess the Effectiveness of Efforts to Expand Access to Medication-Assisted Treatment
GAO-18-44:Published: Oct 31, 2017. Publicly Released: Oct 31, 2017.

High-Containment Laboratories:
Coordinated Actions Needed to Enhance the Select Agent Program's Oversight of Hazardous Pathogens
GAO-18-145:Published: Oct 19, 2017. Publicly Released: Oct 31, 2017.

Critical Infrastructure Protection:
DHS Risk Assessments Inform Owner and Operator Protection Efforts and Departmental Strategic Planning
GAO-18-62:Published: Oct 30, 2017. Publicly Released: Oct 30, 2017.

Emergency Communications:
Overlap and Views on the Effectiveness of Organizations Promoting the Interoperability of Equipment
GAO-18-173R:Published: Oct 30, 2017. Publicly Released: Oct 30, 2017.

Stormwater Management:
EPA Pilot Project to Increase Use of Green Infrastructure Could Benefit from Documenting Collaborative Agreements
GAO-17-750:Published: Sep 28, 2017. Publicly Released: Oct 30, 2017.

Coast Guard:
Actions Needed to Enhance Performance Information Transparency and Monitoring
GAO-18-13:Published: Oct 27, 2017. Publicly Released: Oct 27, 2017.

Military Readiness:
Actions Are Needed to Enhance Readiness of Global Response Force to Support Contingency Operations
GAO-18-81:Published: Oct 27, 2017. Publicly Released: Oct 27, 2017.

Coast Guard:
Actions Needed to Close Stations Identified as Overlapping and Unnecessarily Duplicative
GAO-18-9:Published: Oct 26, 2017. Publicly Released: Oct 26, 2017.

Driver and Vehicle Data:
Federal Efforts and Stakeholders' Perspectives on Facilitating Data Sharing
GAO-18-98R:Published: Oct 26, 2017. Publicly Released: Oct 26, 2017.

F-35 Aircraft Sustainment:
DOD Needs to Address Challenges Affecting Readiness and Cost Transparency
GAO-18-75:Published: Oct 26, 2017. Publicly Released: Oct 26, 2017.

Federal Facility Security:
Selected Agencies Should Improve Methods for Assessing and Monitoring Risk
GAO-18-72:Published: Oct 26, 2017. Publicly Released: Oct 26, 2017.

Refugees:
Federal Agencies and Their Partners Have Implemented Certain Measures, but Need to Further Strengthen Applicant Screening and Assess Fraud Risks
GAO-18-156T:Published: Oct 26, 2017. Publicly Released: Oct 26, 2017.

Solid Rocket Motors:
DOD and Industry Are Addressing Challenges to Minimize Supply Concerns
GAO-18-45:Published: Oct 26, 2017. Publicly Released: Oct 26, 2017.

Low-Dose Radiation:
Interagency Collaboration on Planning Research Could Improve Information on Health Effects
GAO-17-546:Published: Sep 26, 2017. Publicly Released: Oct 26, 2017.

Workforce Training:
DOL Can Better Share Information on Services for On-Demand, or Gig, Workers
GAO-17-561:Published: Sep 26, 2017. Publicly Released: Oct 26, 2017.

Small Business Contracting:
Actions Needed to Demonstrate Compliance with Requirements for Small Business Advocates
GAO-18-191T:Published: Oct 25, 2017. Publicly Released: Oct 25, 2017.

Counternarcotics:
Overview of U.S. Efforts in the Western Hemisphere
GAO-18-10:Published: Oct 13, 2017. Publicly Released: Oct 25, 2017.

IASB

31 October 2017
October IASB podcast now available

31 October 2017
November 2017 Transition Resource Group for IFRS 17 meeting agenda paper available

27 October 2017
October 2017 IASB Update published and work plan updated

IRS 

10 Million Taxpayers Face an Estimated Tax Penalty Each Year; Act Now to Reduce or Avoid it for 2017; New Web Page Can Help
IR-2017-182, Oct. 31, 2017 — The IRS today reminded taxpayers assessed an estimated tax penalty for tax year 2016 that they still have time to take steps to reduce or eliminate the penalty for 2017 and future years

IRS Encourages Taxpayers to Check Their Withholding; Checking Now Helps Avoid Surprises at Tax Time
IR-2017-181, Oct. 30, 2017 —  As the end of 2017 approaches, the Internal Revenue Service today encouraged taxpayers to consider a tax withholding checkup.

2018 PTIN Renewal Period Underway for Tax Professionals
IR-2017-180, Oct. 26, 2017 –– The IRS today reminded the nation’s more than 727,000 federal tax return preparers that they must renew their PTINs for 2018.

Information Reporting Program Advisory Committee Issues Annual Report
IR-2017-179, Oct. 25, 2017 — The Information Reporting Program Advisory Committee today issued its annual report for 2017, including numerous recommendations to the IRS on new and continuing issues in tax administration.

NYS Dept. of Taxation and Finance

Utica Liquor Store Owner Sentenced for Sales Tax Evasion 

Nassau County DA: Freeport Woman Sentenced for Stealing Identities of Hundreds of People Across 31 States 

PCAOB

PCAOB Concludes 2017 Economic Conference on Auditing and Capital Markets
WASHINGTON, Oct. 30, 2017
The Public Company Accounting Oversight Board concluded on Friday its fourth annual Economic Conference on Auditing and Capital Markets, an event that promotes academic research on the economic impact of auditing and audit regulation on capital markets.

SEC

Day Trader Charged in Brokerage Account Takeover Scheme
Oct. 30, 2017 — The Securities and Exchange Commission today charged a day trader based in the Philadelphia area with participating in a scheme to access the brokerage accounts of more than 100 unwitting victims and make unauthorized trades to artificially affect the stock prices of various companies.

SEC Names Peter B. Driscoll as Director of the Office of Compliance Inspections and Examinations
Oct. 26, 2017 — The Securities and Exchange Commission today announced that Peter B. Driscoll has been named Director of the agency’s Office of Compliance Inspections and Examinations (OCIE).  Mr. Driscoll has served as OCIE’s Acting Director since January 2017

SEC Announces Measures to Facilitate Cross-Border Implementation of the European Union's MiFID II's Research Provisions
Oct. 26, 2017 — Today, following consultation with European authorities, and in response to concerns that investors could lose access to valuable research, the staff of the U.S. Securities and Exchange Commission issued three related no-action letters. These letters are designed to provide market participants with greater certainty regarding their U.S. regulated activities as they engage in efforts to comply with the European Union’s (EU) Markets in Financial Instruments Directive (MiFID II) in advance of the Jan. 3, 2018, implementation date.

Former Private Equity Firm Partner Charged With Secretly Billing Clients for His Vacations and Salon Visits
Oct. 25, 2017 — The Securities and Exchange Commission today charged Mohammed Ali Rashid, a former senior partner at Apollo Management L.P., with defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures, including his family vacations, visits to a hair salon, and purchases of designer clothing and high-end electronics.

 

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