Regulatory Roundup: Dec. 6-12

By:
Chris Gaetano
Published Date:
Dec 12, 2017

AICPA 

Business Executives’ Optimism about U.S. Economy Hits a Post-Recession High, AICPA Survey Finds
Press Release: Business executives' optimism about the U.S. economy reached its highest level since the Great Recession, the AICPA Economic Outlook Survey found.
Published on December 7, 2017

CBO

Cost Estimate
H.R. 2880, Promoting Closed-Loop Pumped Storage Hydropower Act
December 12, 2017

Cost Estimate
H.R. 1778, a bill to provide that an order by the Secretary of the Interior imposing a moratorium on Federal coal leasing shall not take effect unless a joint resolution of approval is enacted, and for other purposes
December 11, 2017

Cost Estimate
H.R. 3857, PASS Act of 2017
December 11, 2017

Cost Estimate
H.R. 4258, Family Self-Sufficiency Act
December 11, 2017

Cost Estimate
S. 2010, FISA Amendments Reauthorization Act of 2017
December 11, 2017

Working Paper
Issues and Challenges in Measuring and Improving the Quality of Health Care:
Working Paper 2017-10

December 11, 2017

Cost Estimate
H.R. 2872, Promoting Hydropower Development at Existing Nonpowered Dams Act
December 8, 2017

Cost Estimate
H.R. 1733, a bill to direct the Secretary of Energy to review and update a report on the energy and environmental benefits of the re-refining of used lubricating oil
December 8, 2017

Cost Estimate
H.R. 1399, American Soda Ash Competitiveness Act
December 8, 2017

Cost Estimate
H.R. 4292, Financial Institution Living Will Improvement Act of 2017
December 8, 2017

Cost Estimate
H.R. 3990, National Monument Creation and Protection Act
December 8, 2017

Cost Estimate
H.R. 717, Listing Reform Act
December 8, 2017

Cost Estimate
H.R. 2712, Palestinian International Terrorism Support Prevention Act of 2017
December 8, 2017

Cost Estimate
H.R. 3542, Hamas Human Shields Prevention Act
December 8, 2017

Cost Estimate
S. 1591, Otto Warmbier Banking Restrictions Involving North Korea Act of 2017
December 7, 2017

Report
Monthly Budget Review for November 2017
December 7, 2017

Report
CBO’s Record of Projecting Subsidies for Health Insurance Under the Affordable Care Act: 2014 to 2016
December 7, 2017

Cost Estimate
H.R. 4294, Prevention of Private Information Dissemination Act of 2017
December 6, 2017

Cost Estimate
H.R. 3121, All-American Flag Act
December 6, 2017

Cost Estimate
H.R. 4043, Whistleblower Protection Extension Act of 2017
December 6, 2017

FASB

FASB Names New Members to Its Not-for-Profit Advisory Committee  [12/12/17]
Media Advisory

Small Business Advisory Committee  [12/08/17
November 30, 2017 Meeting Recap

GAO

Global Positioning System:
Better Planning and Coordination Needed to Improve Prospects for Fielding Modernized Capability
GAO-18-74:Published: Dec 12, 2017. Publicly Released: Dec 12, 2017.

Personnel Security Clearances:
Additional Actions Needed to Ensure Quality, Address Timeliness, and Reduce Investigation Backlog
GAO-18-29:Published: Dec 12, 2017. Publicly Released: Dec 12, 2017.

Federal Housing Administration:
Capital Requirements and Stress Testing Practices Need Strengthening
GAO-18-92:Published: Nov 9, 2017. Publicly Released: Dec 11, 2017.

European Reassurance Initiative:
DOD Needs to Prioritize Posture Initiatives and Plan for and Report their Future Cost
GAO-18-128:Published: Dec 8, 2017. Publicly Released: Dec 8, 2017.

Financial Services Industry:
Trends in Management Representation of Minorities and Women and Diversity Practices, 2007-2015
GAO-18-64:Published: Nov 8, 2017. Publicly Released: Dec 8, 2017.

Electricity Markets:
Four Regions Use Capacity Markets to Help Ensure Adequate Resources, but FERC Has Not Fully Assessed Their Performance
GAO-18-131:Published: Dec 7, 2017. Publicly Released: Dec 7, 2017.

Homeland Security:
DHS's Chemical, Biological, Radiological, and Nuclear Program Consolidation Efforts
GAO-18-284T:Published: Dec 7, 2017. Publicly Released: Dec 7, 2017.

Office of Financial Research:
Observations on GAO Access to Information on Programs and Activities
GAO-18-255T:Published: Dec 7, 2017. Publicly Released: Dec 7, 2017.

Veterans Affairs Contracting:
Improvements in Buying Medical and Surgical Supplies Could Yield Cost Savings and Efficiency
GAO-18-274T:Published: Dec 7, 2017. Publicly Released: Dec 7, 2017.

Veterans Affairs Information Technology:
Historical Perspective on Health System Modernization Contracts and Update on Efforts to Address Key FITARA-Related Areas
GAO-18-267T:Published: Dec 7, 2017. Publicly Released: Dec 7, 2017.

Workplace Safety and Health:
Better Outreach, Collaboration, and Information Needed to Help Protect Workers at Meat and Poultry Plants
GAO-18-12:Published: Nov 9, 2017. Publicly Released: Dec 7, 2017.

NASA:
Preliminary Observations on the Management of Space Telescopes
GAO-18-277T:Published: Dec 6, 2017. Publicly Released: Dec 6, 2017.

Large Bank Supervision:
Improved Implementation of Federal Reserve Policies Could Help Mitigate Threats to Independence
GAO-18-118:Published: Nov 6, 2017. Publicly Released: Dec 6, 2017.

GASB

GASB Outlook E-Newsletter Q4 2017  [12/11/17]
Newsletter

GASB Proposes Guidance on Capitalizaton of Interest Cost and Implementation of Recent Pronouncements  [12/08/17]
Media Advisory |
Exposure Draft—Capitalization of Interest Cost |
Exposure Draft—Implementation Guidance

IASB

12 December 2017
International Accounting Standards Board issues annual improvements to IFRS Standards

12 December 2017 
New IFRS 17 webcast: Transition to IFRS 17

11 December 2017
International Accounting Standards Board to issue annual improvements to IFRS Standards

07 December 2017
IFRS 17 Insurance Contracts—Help is at hand

06 December 2017
Summary of the October 2017 Capital Markets Advisory Committee meeting

06 December 2017
IFRS Foundation to move offices in 2018

IRS 

IRS Statement - Secure Access
Dec. 8, 2017 — IRS announced that taxpayers may resume creating new accounts protected by Secure Access authentication.

NYS Dept. of Taxation and Finance

Booze-Buying Excursion Ends with Criminal Charges

PCAOB

PCAOB Concludes 11th Annual International Institute on Audit Regulation
WASHINGTON, Dec. 11, 2017
The Public Company Accounting Oversight Board last week hosted its 11th annual International Institute on Audit Regulation, discussing a variety of topics, including key international developments, trends in initial public offerings, audit firm culture, technology and data analytics, financial fraud and auditors, and investor and director perspectives on auditing.

SEC

SEC Charges Biopharmaceutical Company With Failing to Properly Disclose Perks for Executives
Dec. 12, 2017

Stock Trader Charged in Insider Trading Ring
Dec. 11, 2017

Company Halts ICO After SEC Raises Registration Concerns
Dec. 11, 2017

SEC Modifies Approach to Form N-PORT Filing Requirements
Dec. 8, 2017

Daniel Michael Named Chief of Enforcement Division’s Complex Financial Instruments Unit
Dec. 7, 2017

Broker Charged with Defrauding Investors
Dec. 7, 2017

SEC Continues Crackdown on Brokers Defrauding Customers
Dec. 6, 2017

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