Regulatory Roundup - May 31 to June 6

Chris Gaetano
Published Date:
Jun 6, 2017


U.S. Business Executives Temper Strong Optimism on Economy, AICPA Survey Finds 
Published June 01, 2017
NEW YORK (June 1, 2017) – Business executives are taking a more conservative view of what had been bullish optimism about both the U.S. economy and prospects for their own companies earlier this year, according to the second-quarter AICPA Economic Outlook Survey, which polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.

AICPA Seeks Assurance Research Proposals for a Second Year 
Published June 01, 2017
NEW YORK (June 1, 2017) – The American Institute of CPAs’ (AICPA) Assurance Research Advisory Group (ARAG) has issued a request for proposals (RFP) for research that addresses assurance topics of interest to the CPA profession. Insights gleaned from the research will support the private company standard-setting process, as well as the AICPA’s Enhancing Audit Quality (EAQ) initiative.


The Congressional Budget Office's Work in 2016: A Report to the Congress
June 6, 2017

Cost Estimate
H.R. 2353, Strengthening Career and Technical Education for the 21st Century Act
June 5, 2017

Cost Estimate
S. 577, Providing Accountability Through Transparency Act of 2017
June 2, 2017

Cost Estimate
S. 381, 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.”
June 2, 2017

Cost Estimate
H.R. 756, Postal Service Reform Act of 2017
June 1, 2017

Cost Estimate
H.R. 2581, Verify First Act
June 1, 2017

Cost Estimate
H.R. 2579, Broader Options for Americans Act
June 1, 2017

Cost Estimate
H.R. 2372, Veterans Equal Treatment Ensures Relief and Access Now Act
June 1, 2017

Cost Estimate
S. 217, a bill to amend the Denali National Park Improvement Act to clarify certain provisions relating to the natural gas pipeline authorized in the Denali National Park and Preserve
June 1, 2017

Cost Estimate
H.R. 1967, Bureau of Reclamation Pumped Storage Hydropower Development Act
May 31, 2017


Immigration Courts:
Actions Needed to Reduce Case Backlog and Address Long-Standing Management and Operational Challenges
GAO-17-438:Published: Jun 1, 2017. Publicly Released: Jun 1, 2017.

2015 Electronically Controlled Pneumatic Brake Rule:
Comparison of DOT Forecasts for Selected Data Points for 2015 and 2016 to Preliminary Data for Those Years
GAO-17-567R:Published: May 31, 2017. Publicly Released: May 31, 2017.

Information Security:
FDIC Needs to Improve Controls over Financial Systems and Information
GAO-17-436:Published: May 31, 2017. Publicly Released: May 31, 2017.

Military Personnel:
Observations on the Department of Defense's Career Intermission Pilot Program
GAO-17-623R:Published: May 31, 2017. Publicly Released: May 31, 2017.

Passengers with Disabilities:
Air Carriers' Disability-Training Programs and the Department of Transportation's Oversight
GAO-17-541R:Published: May 31, 2017. Publicly Released: May 31, 2017.

Small Business Research Programs:
Most Agencies Met Spending Requirements, but DOD and EPA Need to Improve Data Reporting
GAO-17-453:Published: May 31, 2017. Publicly Released: May 31, 2017.


GASB Outlook E-Newsletter Q2 2017  [06/05/17]


05 Jun 2017
Joint June 2017 CMAC-GPF meeting: agenda papers available

02 Jun 2017
Joint investor outreach event: Brussels—3 July 2017

02 Jun 2017
Major upgrade to website—weekend of 10 June 2017

01 Jun 2017
Four IFRS Foundation Trustees reappointed for second term

01 Jun 2017
IFRS Taxonomy 2016 Labels Published in Ukrainian

01 Jun 2017
May 2017 Emerging Economies Group report posted


IRS Approves First Group of Certified Professional Employer Organizations; More Expected in Coming Months
IR-2017-103, June 1, 2017 -- The Internal Revenue Service today issued notices of certification to 84 organizations that applied for voluntary certification as a Certified Professional Employer Organization (CPEO).

For Letter Rulings and Similar Requests: Electronic Payment of User Fees Starts June 15; Replaces Paying by Check
IR-2017-102, June 1, 2017 — Beginning June 15, taxpayers requesting letter rulings, closing agreements and certain other rulings from the Internal Revenue Service will need to make user fee payments electronically using the federal government’s system.

NYC Dept. of Finance  

June 6, 2017
Real Estate Auction scheduled for June 14, 2017.

NYS Dept. of Taxation and Finance 

Governor Cuomo Announces Tax Department Stopped More Than 330,000 Suspicious Refund Claims

About 94% of NYS Taxpayers E-filed This Filing Season


PCAOB Adopts New Standard to Enhance the Relevance and Usefulness of the Auditor's Report with Additional Information for Investors
WASHINGTON, June 1, 2017
The Public Company Accounting Oversight Board today adopted a new auditing standard to enhance the relevance and usefulness of the auditor's report by providing additional and important information to investors.

PCAOB Proposes to Strengthen Requirements for an Auditor’s Use of the Work of Specialists
WASHINGTON, June 1, 2017
The Public Company Accounting Oversight Board today issued for public comment a proposal to strengthen requirements that would apply when auditors use the work of specialists in an audit.

PCAOB Proposes to Enhance Requirements for Auditing Accounting Estimates, Including Fair Value Measurements
WASHINGTON, June 1, 2017
The Public Company Accounting Oversight Board today issued for public comment a proposal to enhance the requirements that apply when auditing accounting estimates, including fair value measurements.


SEC Charges Brokerage Firm With Failing to Comply With Anti-Money Laundering Laws
Washington D.C., June 5, 2017—The Securities and Exchange Commission today charged a Salt Lake City-based brokerage firm with securities law violations related to its alleged practice of clearing transactions for microcap stocks that were used in manipulative schemes to harm investors.



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