Regulatory Roundup: July 11-17
AICPA
July 17, 2018
AICPA Sees Rising Demand For Technical Advice And Guidance On Revenue Recognition, Other Issues
July 16, 2018
More than 100 Minority Students Graduate from AICPA’s 2018 Accounting Scholars Leadership Workshop
July 13, 2018
AICPA Webcast Explores Money Laundering and Fraud in the World of Cryptocurrencies
CBO
Cost Estimate
S. 2463, BUILD Act of 2018
July 17, 2018
Presentation
Productivity and Growth in CBO’s Forecasts
July 17, 2018
Presentation
CBO’s Economic and Budget Projections
July 17, 2018
Blog Post
CBO’s Teri Gullo Honored as Finalist for Lifetime Achievement Award
July 17, 2018
Cost Estimate
S. 2374, Stopping Improper Payments to Deceased People Act
July 16, 2018
Cost Estimate
Preliminary Analysis of S. 2147, the Butch-Lewis Act of 2017, as introduced
July 16, 2018
Cost Estimate
H.R. 5677, International Security Assistance Act of 2018
July 12, 2018
Report
How CBO Produces Fair-Value Estimates of the Cost of Federal Credit Programs: A Primer
July 12, 2018
Cost Estimate
H.R. 5846, Promoting Flood Risk Mitigation Act
July 12, 2018
Cost Estimate
H.R. 5756, a bill to require the Securities and Exchange Commission to adjust certain resubmission thresholds for shareholder proposals
July 11, 2018
Cost Estimate
S. 2645, Access to Increased Drug Disposal Act of 2018
July 11, 2018
Cost Estimate
H.R. 4559, Global Aviation System Security Reform Act of 2017
July 11, 2018
Cost Estimate
H.R. 5877, Main Street Growth Act
July 11, 2018
Cost Estimate
S. 2680, Opioid Crisis Response Act of 2018
July 11, 2018
Cost Estimate
S.J. Res. 58, Joint Resolution to require certifications regarding actions by Saudi Arabia in Yemen, and for other purposes
July 11, 2018
Cost Estimate
S. 1158, Elie Wiesel Genocide and Atrocities Prevention Act of 2018
July 11, 2018
Cost Estimate
H.R. 3776, Cyber Diplomacy Act of 2018
July 11, 2018
Cost Estimate
H.R. 6237, Matthew Young Pollard Intelligence Authorization Act for Fiscal Years 2018 and 2019
July 11, 2018
FASB
FASB Issues Accounting Standards Update 2018-09—Codification Improvements [07/16/18]
ASU 2018-09
GAO
Government Auditing Standards 2018 Revision (Supersedes GAO-12-331G)
GAO-18-568G:Published: Jul 17, 2018. Publicly Released: Jul 17, 2018.
Medicare:
Actions Needed to Better Manage Fraud Risks
GAO-18-660T:Published: Jul 17, 2018. Publicly Released: Jul 17, 2018.
Summer Meals:
Improvements Needed to Address Participation Estimates and Program Challenges
GAO-18-611T:Published: Jul 17, 2018. Publicly Released: Jul 17, 2018.
Defense Contracts:
DOD Should Develop a Strategy for Assessing Contract Award Time Frames
GAO-18-467:Published: Jul 16, 2018. Publicly Released: Jul 16, 2018.
Management Report:
Continued Improvements Needed in Controls over the Processes Used to Prepare the U.S. Consolidated Financial Statements
GAO-18-540:Published: Jul 16, 2018. Publicly Released: Jul 16, 2018.
Job Corps:
DOL Could Enhance Safety and Security at Centers with Consistent Monitoring and Comprehensive Planning
GAO-18-482:Published: Jun 15, 2018. Publicly Released: Jul 16, 2018.
Workforce Innovation and Opportunity Act:
States and Local Areas Report Progress in Meeting Youth Program Requirements
GAO-18-475:Published: Jun 15, 2018. Publicly Released: Jul 16, 2018.
2020 Census:
Actions Needed to Improve In-Field Address Canvassing Operation
GAO-18-414:Published: Jun 14, 2018. Publicly Released: Jul 16, 2018.
Office of Special Counsel:
Actions Needed to Improve Processing of Prohibited Personnel Practice and Whistleblower Disclosure Cases
GAO-18-400:Published: Jun 14, 2018. Publicly Released: Jul 16, 2018.
Government Reorganization:
Key Questions to Assess Agency Reform Efforts
GAO-18-427:Published: Jun 13, 2018. Publicly Released: Jul 13, 2018.
Aviation Security:
Actions Needed to Better Identify and Track U.S.-Bound Public Charter Operations from Cuba
GAO-18-526:Published: Jul 12, 2018. Publicly Released: Jul 12, 2018.
Foreign Assistance:
Better Guidance for Strategy Development Could Help Agencies Align Their Efforts
GAO-18-499:Published: Jul 12, 2018. Publicly Released: Jul 12, 2018.
Information Security:
Supply Chain Risks Affecting Federal Agencies
GAO-18-667T:Published: Jul 12, 2018. Publicly Released: Jul 12, 2018.
Long Island Sound Restoration:
Improved Reporting and Cost Estimates Could Help Guide Future Efforts
GAO-18-410:Published: Jul 12, 2018. Publicly Released: Jul 12, 2018.
Border Security and Immigration:
Initial Executive Order Actions and Resource Implications
GAO-18-470:Published: Jun 12, 2018. Publicly Released: Jul 12, 2018.
Drug Discount Program:
Improvements Needed in Federal Oversight of Compliance at 340B Contract Pharmacies
GAO-18-646T:Published: Jul 11, 2018. Publicly Released: Jul 11, 2018.
NASA Commercial Crew Program:
Plan Needed to Ensure Uninterrupted Access to the International Space Station
GAO-18-476:Published: Jul 11, 2018. Publicly Released: Jul 11, 2018.
IASB
17 July 2018
The IFRS Foundation office is moving
17 July 2018
Webinar: IFRS Taxonomy 2018—recording now available
16 July 2018
Webcast: Overview of the Discussion Paper Financial Instruments with Characteristics of Equity
13 July 2018
IFRS 17 implementation: new support materials on reinsurance contracts held now available
12 July 2018
IFRS Taxonomy 2017 now available in Turkish
IRS
Tax Security 101 – Security Summit outlines ‘Security Six’ basic safeguards for tax professionals’ computers and email
IR-2018-150, July 17, 2018 – The Internal Revenue Service and the Security Summit partners outlined critical steps for tax professionals to protect their computers and email as well as safeguarding sensitive taxpayer data.
IRS offers summer tips for temporary jobs, marriage, deductions and credits
IR-2018-149, July 12, 2018 — Before starting a summer job, taking a vacation or sending the kids off to camp, the IRS wants taxpayers to know that some summertime activities may qualify for tax credits or deductions.
Veterans owed refunds for overpayments attributable to disability severance payments should file amended returns to claim tax refunds
IR-2018-148, July 11, 2018 — The IRS today is advising certain veterans who received disability severance payments after January 17, 1991, and included that payment as income that they should file Form 1040X, Amended U.S.
NYS Dept. of Taxation and Finance
Do Your Summer-Camp Expenses Qualify You for a Tax Break?
SEC
SEC Charges BGC Financial for Failure to Preserve Documents and Maintain Accurate Books and Records
Washington D.C., July 17, 2018 —The Securities and Exchange Commission today announced that New York-based broker-dealer BGC Financial has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel, entertainment, and other expenses.
SEC Charges Oil Company CEO, Board Member With Hiding Personal Loans
Washington D.C., July 16, 2018 —The Securities and Exchange Commission today charged the former CEO of Energy XXI Ltd. with hiding more than $10 million in personal loans that he obtained from company vendors and a candidate for Energy XXI’s board. At the time of the alleged misconduct, Energy XXI was NASDAQ-listed and one of the largest oil and gas producers on the Gulf of Mexico shelf.
SEC Files Charges in Busted Microcap Schemes
Washington D.C., July 13, 2018 —The Securities and Exchange Commission has charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension.
SEC Files Additional Charges in Fitbit Stock Manipulation Scheme
Washington D.C., July 11, 2018 —The Securities and Exchange Commission today filed fraud charges against a second defendant in connection with a scheme to manipulate the price of Fitbit securities through false regulatory filings.