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  • TIGTA: IRS Reduces Workforce by 25 Percent, Jeopardizing Upcoming Filing Season

    By:
    Karen Sibayan
    |
    Jul 24, 2025
    The Treasury Inspector General for Tax Administration (TIGTA) began a review of the IRS to update its previous report on the tax agency's initiatives toward workforce reduction. The new report offers a view of the IRS business units and positions affected as of May 2025.

  • IFRS Foundation Releases Climate-Related Examples of Financial Statements Reporting Uncertainties

    By:
    Karen Sibayan
    |
    Jul 24, 2025
    On Jul. 24, the IFRS Foundation has released near-final examples demonstrating how firms are able improve the reporting of uncertainties in their financial statements utilizing climate-related examples as practical illustrations. The early publication is meant to further timely and informed application.

  • Accountant Confidence Gained Ground in the Second Quarter, but Remains at a Low Level

    By:
    Karen Sibayan
    |
    Jul 23, 2025

    According to a July 2 ACCA and IMA Global Economic Conditions Survey, confidence among accountants globally increased to its highest level since Q3 2024. The latest survey indicates that global confidence improved in Q2 2025, but it is still at a low level by historical standards.

  • Former Chair Erica Williams Highlights PCAOB's Important Work in Interview

    By:
    Karen Sibayan
    |
    Jul 23, 2025
    On Jul. 22, Erica Williams stepped down as chair of the PCAOB after SEC Chair Paul Atkins asked for her resignation. In a recent interview, Williams discussed her tenure at the PCAOB and her future hopes.

  • 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.
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