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IRS to Waive $1B in Some Late Payment Penalties
2024 to Be a Demanding Year for Internal Auditors
SEC OKs Audit Confirmation Standards

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  • FinCEN Delays AML Rule Effective Date

    By:
    Karen Sibayan
    |
    Jul 22, 2025
    FinCEN stated on Jul. 21 that it plans to delay the effective date of a rule that brings certain investment advisers under its anti-money-laundering and countering-the-financing-of-terrorism programs' standards.

  • SEC Appoints George Botic as Acting PCAOB Chair

    By:
    Karen Sibayan
    |
    Jul 22, 2025
    The SEC said on July 21 that it has appointed George R. Botic as PCAOB acting chair effective Jul. 23. Current PCAOB Chair Erica Williams' resignation from the Board effective Jul. 22.

  • In a Landmark Event for the Crypto Sector, Trump Signs Stablecoin Legislation

    By:
    Karen Sibayan
    |
    Jul 21, 2025
    On Jul.18, President Donald Trump signed into law new regulations for a particular kind of cryptocurrency called stablecoins. This is seen as a major milestone for a sector that has has invested heavily in building its legitimacy and political strength. The legislation states that all stablecoin issuers will be subject to monthly examinations conducted by a registered public accounting firm. 

  • IRS Reevaluates Service Projects as Budget Cuts Bite

    By:
    Emma Slack-Jorgensen
    |
    Jul 21, 2025

    The IRS is taking a second look at its taxpayer service overhaul after recent staffing and funding cuts disrupted its original plans. According to a new Government Accountability Office report released Jul. 17, more than 150 improvement projects launched with Inflation Reduction Act funding are now under review. 

  • Regulatory Roundup: July 15 - 21

    By:
    Karen Sibayan
    |
    Jul 21, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA's regular series that collects relevant regulatory announcements from the past week and puts them in one place to help you stay on top of the issues.

  • Treasury Faces Tight Timelines on New Tax Law Guidance

    By:
    Emma Slack-Jorgensen
    |
    Jul 18, 2025
    The Treasury Department and IRS are under pressure to issue guidance for the One Big Beautiful Bill Act, which includes a range of tax changes for individuals and businesses.

  • House Lawmakers Start Work on Cryptocurrency Policy Changes

    By:
    Karen Sibayan
    |
    Jul 17, 2025
    Republicans are pushing for policy changes on cryptocurrency, according to Bloomberg Tax. Efforts on this front began in the House of Representatives with a Ways and Means subcommittee hearing on Jul. 16 about digital asset policy. 

  • IIA Unveils Updated Competency Framework for Internal Auditing

    By:
    Karen Sibayan
    |
    Jul 16, 2025

    The Institute of Internal Auditors recently refreshed its Internal Auditing Competency Framework. This was created to optimize knowledge and skills throughout four key areas and 28 subcategories.

  • PCAOB's Erica Williams Resigns, to Leave Post Jul. 22

    By:
    Karen Sibayan
    |
    Jul 15, 2025
    PCAOB Chair Erica Williams will be stepping down after SEC Chair Paul Atkins asked for her resignation. Based on an email Williams sent to PCAOB staffers, her last day is going to be Jul. 22.

  • House Republicans Begin Shaping Second Trump Budget Bill

    By:
    Emma Slack-Jorgensen
    |
    Jul 15, 2025
    Just weeks after the passage of President Donald Trump’s sweeping $3.4 trillion tax and spending bill, House Republicans are gearing up for round two. This fall, the GOP plans to introduce a follow-up budget bill focused on additional spending cuts and tax code adjustments.
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