Regulatory Roundup - Jan. 29-Feb. 4

By:
Chris Gaetano
Published Date:
Feb 4, 2019

AICPA 

Press Release
New report: Finance professionals have to tech-up within the next three years or it’s game over
Most finance teams and professionals are not evolving their skills fast enough to account for the impact of new technologies according to a new report released today by the AICPA.
January 31, 2019

Press Release
AICPA Calls for Additional Penalty Relief for Taxpayers for 2018 Filing Season
AICPA urged Treasury and IRS to grant individuals more extensive penalty relief for underpayments and late payments and said businesses and tax-exempt organizations need similar relief.
January 29, 2019

CBO

Presentation
Transparency at CBO
February 4, 2019
Presentation by Mark Hadley, CBO’s Deputy Director, at the 11th Annual Meeting of the OECD Network of Parliamentary Budget Officials and Independent Financial Institutions.

Report
How CBO and JCT Analyzed Coverage Effects of New Rules for Association Health Plans and Short-Term Plans
January 31, 2019
This report describes the methods used to assess how the new rules would affect the number of people who obtain health insurance and the costs of federal subsidies for that coverage. It also provides details about those projected effects.

Presentation
An Overview of The Budget and Economic Outlook: 2019 to 2029
January 31, 2019
Presentation by Christina Hawley Anthony, Chief of the Projections Unit in CBO’s Budget Analysis Division, Robert Arnold, Chief of the Projections Unit in CBO’s Macroeconomic Analysis Division, and Joshua Shakin, Chief of the Revenue Estimating Unit in CBO’s Tax Analysis Division, at a joint seminar with the Congressional Research Service.

Report
Testimony on CBO’s Budget and Economic Outlook: 2019 to 2029
January 29, 2019
CBO Director Keith Hall testifies about The Budget and Economic Outlook: 2019 to 2029 before the Senate Budget Committee.

Report
Testimony on CBO’s Budget and Economic Outlook: 2019 to 2029
January 29, 2019
CBO Director Keith Hall testifies about The Budget and Economic Outlook: 2019 to 2029 before the House Budget Committee.

Interactive
CBO’s Waterfall Model for Projecting Discretionary Spending, January 2019
CBO’s new interactive tool allows users to simulate the agency’s process for projecting discretionary budget authority and outlays for different types of spending over the course of 10 years.

GAO

K-12 Education:
Challenges to Assessing Program Performance and Recent Efforts to Address Them
GAO-19-266R:Published: Jan 31, 2019. Publicly Released: Jan 31, 2019.

National Nuclear Security Administration:
Additional Actions Needed to Collect Common Financial Data
GAO-19-101:Published: Jan 31, 2019. Publicly Released: Jan 31, 2019.

Prepositioned Stocks:
DOD Needs Joint Oversight of the Military Services' Programs
GAO-19-244:Published: Jan 31, 2019. Publicly Released: Jan 31, 2019.

Washington Metropolitan Area Transit Authority:
Actions Needed to Strengthen Capital Planning and Track Preventive Maintenance Program
GAO-19-202:Published: Jan 31, 2019. Publicly Released: Jan 31, 2019.

Department of Energy:
Program-Wide Strategy and Better Reporting Needed to Address Growing Environmental Cleanup Liability
GAO-19-28:Published: Jan 29, 2019. Publicly Released: Jan 29, 2019.

Indian Programs:
Interior Should Address Factors Hindering Tribal Administration of Federal Programs
GAO-19-87:Published: Jan 3, 2019. Publicly Released: Jan 29, 2019.

IASB

04 February 2019
Available now: The 2019 Required and Annotated Required IFRS Standards

30 January 2019
Summary of December 2018 ASAF meeting available

30 January 2019
New Emerging Economies Group report posted

30 January 2019
IFRS 17 podcast on January 2019 IASB meeting now available

30 January 2019
January IASB podcast now available

30 January 2019
Speech: Erkki Liikanen in Kuala Lumpur at first meeting as Trustee Chair

28 January 2019
Feature: Materiality modernised

IRS 

IRS Activities Following the Shutdown
January 29, 2019 - The IRS has reopened following the end of the government shutdown, and IRS employees are working hard to resume normal operations and help taxpayers as much as possible.

IRS reminds employers, other businesses of Jan. 31 filing deadline for wage statements, independent contractor forms
IR-2019-08, January 29, 2019 — The Internal Revenue Service today reminds employers and other businesses of the Jan. 31 filing deadline that applies to filing wage statements and independent contractor forms with the government.

SEC

SEC Charges Four Public Companies With Longstanding ICFR Failures
Washington D.C., Jan. 29, 2019 —The Securities and Exchange Commission today announced settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods.

SEC Names Manisha Kimmel as Senior Policy Advisor to the Chairman on the Consolidated Audit Trail

Washington D.C., Jan. 29, 2019 —The Securities and Exchange Commission today announced settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods.

Shamoil T. Shipchandler, Regional Director of the SEC’s Fort Worth Regional Office, Has Left the Agency

Washington D.C., Jan. 29, 2019 —The Securities and Exchange Commission today announced settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods.

Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi Scheme Targeting Retail Investors

Washington D.C., Jan. 29, 2019 —The Securities and Exchange Commission today announced settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods.

SEC Emergency Action Charges Texas Real Estate Developer for Multi-Million Dollar Offering Fraud

Washington D.C., Jan. 29, 2019 —The Securities and Exchange Commission today announced settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods.​

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