Regulatory Roundup: Sept. 27-Oct. 3

Chris Gaetano
Published Date:
Oct 3, 2017


AICPA Accountemps Scholarship Recipients Announced
Press Release:  The AICPA announces the recipients of the 2017-2018 Accountemps Scholarship Award.
Published on September 28, 2017


Cost Estimate
H.R. 36, Pain-Capable Unborn Child Protection Act
October 2, 2017

CBO’s Economic Forecasting Record: 2017 Update
October 2, 2017

Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Enzi, September 2017
September 29, 2017

Cost Estimate
H.R. 3243, FITARA Enhancement Act of 2017
September 29, 2017

Cost Estimate
H.R. 918, Veteran Urgent Access to Mental Healthcare Act
September 28, 2017

Options to Manage FHA’s Exposure to Risk From Guaranteeing Single-Family Mortgages
September 28, 2017

Cost Estimate
H.R. 3729, Comprehensive Operations, Sustainability, and Transport Act of 2017
September 27, 2017

Cost Estimate
H.R. 1107, Pershing County Economic Development and Conservation Act
September 27, 2017

Cost Estimate
H.R. 3354, Make America Secure and Prosperous Appropriations Act, 2018
September 27, 2017

Working Paper
Did Treasury Debt Markets Anticipate the Persistent Decline in Long-Term Interest Rates?: Working Paper 2017-07
September 27, 2017


FASB Investor Podcast: Revenue Recognition for Airlines—A podcast for investors that focuses on the impact of the new revenue recognition standard on the airline sector.  [10/03/17]

FASB Issues Two Proposed Accounting Standards Updates—Technical Corrections and Improvements to Recently Issued Standards: I. ASU No. 2016-01, Financial Instruments—Overall (Subtopic 825-10) and II. ASU No. 2016-02, Leases (Topic 842)  [09/27/17]
Exposure Document


Investigational New Drugs:
FDA's Expanded Access Program
GAO-18-157T:Published: Oct 3, 2017. Publicly Released: Oct 3, 2017.

U.S. Territories:
Public Debt Outlook
GAO-18-160:Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.

Imported Seafood Safety:
FDA and USDA Could Strengthen Efforts to Prevent Unsafe Drug Residues
GAO-17-443:Published: Sep 15, 2017. Publicly Released: Oct 2, 2017.

Drinking Water:
Additional Data and Statistical Analysis May Enhance EPA's Oversight of the Lead and Copper Rule
GAO-17-424:Published: Sep 1, 2017. Publicly Released: Oct 2, 2017.

Defense Health Reform:
Steps Taken to Plan the Transfer of the Administration of the Military Treatment Facilities to the Defense Health Agency, but Work Remains to Finalize the Plan
GAO-17-791R:Published: Sep 29, 2017. Publicly Released: Sep 29, 2017.

Managing for Results:
Further Progress Made in Implementing the GPRA Modernization Act, but Additional Actions Needed to Address Pressing Governance Challenges
GAO-17-775:Published: Sep 29, 2017. Publicly Released: Sep 29, 2017.

Program Evaluation:
Annual Agency-Wide Plans Could Enhance Leadership Support for Program Evaluations
GAO-17-743:Published: Sep 29, 2017. Publicly Released: Sep 29, 2017.

2017 Survey of Federal Managers on Organizational Performance and Management Issues
GAO-17-776SP:Published: Sep 29, 2017. Publicly Released: Sep 29, 2017.

VA Health Care Quality:
VA Should Improve the Information It Publicly Reports on the Quality of Care at Its Medical Facilities
GAO-17-741:Published: Sep 29, 2017. Publicly Released: Sep 29, 2017.

Video Programming:
FCC Should Conduct Additional Analysis to Evaluate Need for Set-Top Box Regulation
GAO-17-785:Published: Sep 29, 2017. Publicly Released: Sep 29, 2017.

Financial Regulation:
Perspectives on the Swaps Push-Out Rule
GAO-17-607:Published: Sep 1, 2017. Publicly Released: Sep 29, 2017.

CMS Fraud Prevention System Uses Claims Analysis to Address Fraud
GAO-17-710:Published: Aug 30, 2017. Publicly Released: Sep 29, 2017.

Defense Supply Chain:
DOD Needs Complete Information on Single Sources of Supply to Proactively Manage the Risks
GAO-17-768:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

Federal Contracting:
Additional Management Attention and Action Needed to Close Contracts and Reduce Audit Backlog
GAO-17-738:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

Federal Information Security:
Weaknesses Continue to Indicate Need for Effective Implementation of Policies and Practices
GAO-17-549:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

Federal Programs:
Information Architecture Offers a Potential Approach for Development of an Inventory
GAO-17-739:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

Iran Sanctions:
U.S. Agencies Continue to Implement Processes for Identifying Potentially Sanctionable Entities
GAO-17-779R:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

National Science Foundation:
Actions Needed to Improve Oversight of Indirect Costs for Research
GAO-17-721:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

Nuclear Nonproliferation:
NNSA Needs to Improve Its Program Management Policy and Practices
GAO-17-773:Published: Sep 28, 2017. Publicly Released: Sep 28, 2017.

Defense Management:
DOD Needs to Improve Its Oversight of Executive Agents
GAO-17-601:Published: Sep 27, 2017. Publicly Released: Sep 27, 2017.

Human Trafficking:
Investigations in Indian Country or Involving Native Americans and Actions Needed to Better Report on Victims Served
GAO-17-762T:Published: Sep 27, 2017. Publicly Released: Sep 27, 2017.

Personnel Practices:
Actions Needed to Improve Documentation of OPM Decisions on Conversion Requests
GAO-17-674:Published: Aug 28, 2017. Publicly Released: Sep 27, 2017.


Updated: Why Governmental Accounting and Financial Reporting Is—and Should Be—Different  [10/03/17]
White Paper


IRS Reminds Educators of Tax Benefits
IR-2017-166, Sept. 28, 2017 — As teachers, administrators and aides have launched into their fall semester, taxes may not be on the top of their list. However, knowing what to keep track of now can help reduce the burden at tax time.

Low-Income Housing Units Nationwide May be Offered to Displaced Victims of Hurricanes Harvey, Irma and Other Recent Disasters
IR-2017-165, Sept. 28, 2017 — The IRS has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its possessions to provide temporary emergency housing to individuals who are displaced by a major disaster from their principal residences, regardless of income.

Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock Under IRS Relief
IR-2017-164, Sept. 27, 2017 — Farmers and ranchers who previously were forced to sell livestock due to drought in an applicable region now have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the IRS.

IRS Reminds Parents, Students to Explore Education Resources on
IR-2017-163, Sept. 27, 2017 — The IRS today reminded parents and students that there are many tax benefits available to them, and the easiest way to learn more about them is through the education resources available on

Tax Help Available for Those Who Still Need to File for 2016
IR-2017-162, Sept. 27, 2017 — The IRS wants taxpayers, especially those who received tax-filing extensions, to know they can still get the tax help they need to meet the Oct. 16 extension deadline.

Reminder for Parents, Students: Check Out College Tax Benefits
IR-2017-161, Sept. 26, 2017 — With back-to-school season in full swing, the IRS reminds parents and students about tax benefits that can help with the expense of higher education.

IRS Offers Help to Hurricane Victims: A Recap of Key Tax Relief Provisions Available Following Harvey, Irma and Maria

NYC Dept. of Finance 

September 28, 2017
Jeffrey Shear, Deputy Commissioner for Treasury and Payment Services, Testifies Before the NYC Council Committee on Government Operations at the Oversight Hearing on Agency Responses to Failures to Pay Civil Penalties: The Implementation of Local Law 47 of 2016.


PCAOB Investor Advisory Group to Meet on October 24
Meeting agenda includes non-GAAP measurements, noncompliance with laws and regulations, and audit quality initiatives
WASHINGTON, Oct. 3, 2017. The Public Company Accounting Oversight Board will hold a meeting of its Investor Advisory Group on Tuesday, October 24, 2017, in Washington.


World Investor Week Brings Together Securities Regulators on Six Continents to Promote Investor Education and Protection
Oct. 2, 2017

Chairman Clayton Provides Update on Review of 2016 Cyber Intrusion Involving EDGAR System
Oct. 2, 2017

SEC Exposes Two Initial Coin Offerings Purportedly Backed by Real Estate and Diamonds
Sept. 29, 2017

Former Corporate Insider, Middleman Tipper, and Six Traders Charged With Insider Trading
Sept. 29, 2017

Fee Rate Advisory #2 for Fiscal Year 2018
Sept. 29, 2017

Barred Broker Charged in Real Estate Investment Scheme
Sept. 29, 2017

SEC Provides Regulatory Relief and Assistance for Hurricane Victims
Sept. 28, 2017

SEC Detects Brokers Defrauding Customers
Sept. 28, 2017

Andrew Calamari, Regional Director of the SEC’s New York Office, to Leave the Agency After 17 Years of Service
Sept. 28, 2017

Medical Manufacturer Settles Accounting Fraud Charges
Sept. 28, 2017


September 28, 2017
Improvements Are Needed in the Estate and Gift Tax Return Examination Process 

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