Regulatory Roundup: March 14-21
AICPA
Survey: Corporate Risks Rising – But Risk Management Efforts Not Keeping Pace
NEW YORK (March 16, 2017) - New research from North Carolina State University and the American Institute of CPAs (AICPA) finds most executives see risks increasing in both number and complexity – but those same executives say their organizations’ risk management efforts may not be staying abreast of those risks.
CBO
Cost Estimate
H.R. 1029, Pesticide Registration Enhancement Act of 2017
March 20, 2017
Cost Estimate
H.R. 369, a bill to eliminate the sunset of the Veterans Choice Program, and for other purposes.
March 20, 2017
Report
Establishing a Medicaid Block Grant
March 17, 2017
Cost Estimate
H.R. 1293, a bill to amend title 5, United States Code, to require that the Office of Personnel Management submit an annual report to Congress relating to the use of official time by federal employees
March 17, 2017
Blog Post
Tax Expenditures
March 17, 2017
Blog Post
How Taxes and Transfers Affect the Work Incentives of People With Low and Moderate Income
March 17, 2017
Cost Estimate
H.R. 653, Federal Intern Protection Act of 2017
March 16, 2017
Cost Estimate
H.R. 1003, District of Columbia Courts and Public Defender Service Voluntary Separation Incentive Payments Act
March 16, 2017
Cost Estimate
H.R. 1258, HSA Technical Corrections Act
March 15, 2017
FASB
FASB Announces New Date for Roundtable on Proposed Improvements to Insurance Accounting [03/16/17]
Norwalk, CT, March 16, 2017—The Financial Accounting Standards Board (FASB) has rescheduled a public roundtable meeting on its proposed improvements to accounting for long-duration contracts issued by insurance entities. The roundtable will take place on Wednesday, April 19, 2017, from 8:00 a.m. to 12:30 p.m. Eastern Daylight Time at the FASB offices at 401 Merritt 7, Norwalk, Connecticut 06856.
GAO
Immigration Benefits System:
Significant Risks in USCIS's Efforts to Develop its Adjudication and Case Management System
GAO-17-486T:Published: Mar 16, 2017. Publicly Released: Mar 16, 2017.
Antibiotic Resistance:
More Information Needed to Oversee Use of Medically Important Drugs in Food Animals
GAO-17-192:Published: Mar 2, 2017. Publicly Released: Mar 16, 2017.
Research and Development:
DOE Activities and Costs to Oversee Investments
GAO-17-261:Published: Feb 14, 2017. Publicly Released: Mar 16, 2017.
Health Information Technology:
HHS Should Assess the Effectiveness of Its Efforts to Enhance Patient Access to and Use of Electronic Health Information
GAO-17-305:Published: Mar 15, 2017. Publicly Released: Mar 15, 2017.
Veterans' Health Care:
Limited Progress Made to Address Concerns That Led to High-Risk Designation
GAO-17-473T:Published: Mar 15, 2017. Publicly Released: Mar 15, 2017.
Electricity:
Status of Residential Deployment of Solar and Other Technologies and Potential Benefits and Challenges
GAO-17-142:Published: Feb 13, 2017. Publicly Released: Mar 15, 2017.
Department Of Justice:
Continued Actions Needed to Enhance Program Efficiency and Resource Management
GAO-17-471T:Published: Mar 21, 2017. Publicly Released: Mar 21, 2017.
Federal Telework:
Additional Controls Could Strengthen Telework Program Compliance and Data Reporting
GAO-17-247:Published: Feb 17, 2017. Publicly Released: Mar 20, 2017.
National Park Service:
Concessions Program Has Made Changes in Several Areas, but Challenges Remain
GAO-17-302:Published: Feb 16, 2017. Publicly Released: Mar 20, 2017.
Defense Logistics:
Improved Performance Measures and Information Needed for Assessing Asset Visibility Initiatives
GAO-17-183:Published: Mar 16, 2017. Publicly Released: Mar 16, 2017.
Embassy Construction:
State Needs to Better Measure Performance of Its New Approach
GAO-17-296:Published: Mar 16, 2017. Publicly Released: Mar 16, 2017
GASB
GASB Issues Statement No. 85, Omnibus 2017 [03/20/17]
Norwalk, CT, March 20, 2017—The Governmental Accounting Standards Board (GASB) today issued guidance addressing several different accounting and financial reporting issues identified during the implementation and application of certain GASB pronouncements.
IASB
17 Mar 2017
New Albanian and Bosnian translations available
16 Mar 2017
IFRS Taxonomy 2016 Labels Published in Turkish
15 Mar 2017
IFRS Foundation Trustees reappoint four IFRS Interpretations Committee
The Trustees of the IFRS Foundation have announced that Carl Douglas, Mikael Hagström, Bruce Mackenzie and Bonnie Van Etten have been reappointed to the IFRS Interpretations Committee for a second three-year term, starting 1 July 2017.
14 Mar 2017
2017 IFRS Standards (Red Book)—Now available
We are pleased to let you know that the 2017 IFRS®Standards (Red Book) is now available to buy. This is the only official printed edition of the consolidated text of the International Accounting Standards Board's authoritative pronouncements as issued at 1 January 2017.
IRS
IRS, States and Tax Industry Warn of Last-Minute Email Scams
IR-2017-64, March 17, 2017 — The IRS, state tax agencies and the tax industry today warned both tax professionals and taxpayers of last-minute phishing email scams, especially those requesting last-minute deposit changes for refunds or account updates.
IRS Reminds Taxpayers of April 1 Deadline to Take Required Retirement Plan Distributions
IR-2017-63, March 17, 2017 — The Internal Revenue Service today reminded taxpayers who turned age 70½ during 2016 that, in most cases, they must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Saturday, April 1, 2017.
Tax Time Guide: ‘Where’s My Refund?’ Tool Best Way to Check Tax Refund Status
IR-2017-62, March 16, 2017 — The IRS reminded taxpayers today that while more than 90 percent of federal tax refunds are issued in 21 days or less, some refunds may take longer.
Winter Storm Extension: Many Businesses Have Extra Time to Request A Six-Month Extension
IR-2017-61, March 15, 2017 — The IRS today granted many businesses affected by this week’s severe winter storm additional time to request a six-month extension to file their 2016 federal income tax returns.
Tax Time Guide: Still Time to Contribute to an IRA for 2016
IR-2017-60, March 15, 2017 — The IRS today reminded taxpayers that they still have time to contribute to an IRA for 2016 and, in many cases, qualify for a deduction or even a tax credit.
Tax Time Guide: Electronic Payment/Payment Agreement Options Available to Those Who Owe Taxes
IR-2017-59, March 14, 2017 — The Internal Revenue Service today reminded taxpayers that it’s easier than ever to pay taxes electronically.
NYS Dept. of Taxation and Finance
NYS Tax Department Urges Increased Vigilance as Tax Season Scams Affect Additional New York-based Employers and their Employees
At least 65 companies with New York employees in multiple industries now victimized as identity thieves compromise 7,100 Social Security numbers
Owner of a Rome Auto Sales Business Sentenced for Tax Evasion
Court orders defendant to pay restitution of more than $70,000
Bronx Tax Preparer Pleads Guilty to Grand Larceny
Filed false personal income tax returns showing fictitious expenses
District Attorney Hoovler Announces Charges in Tax Cases
Three Owners of Two concrete Companies Charged with Tax Crimes , two Charged with Stealing $366,895 in Sales Tax
Extended Call Center Hours for Taxpayers Ahead of Sales Tax Deadline
Deadline to submit sales tax returns for annual, quarterly, and monthly filers is midnight Monday, March 20
Free Tax Filing Assistance Available in Central New York
NYS Tax Department to host three free filing events in Corning, Cortland, and Oneonta
PCAOB
PCAOB Sanctions Former PricewaterhouseCoopers Brazil Partner for Audit Failures
WASHINGTON, March 20, 2017
The Public Company Accounting Oversight Board today announced sanctions against a former partner of PricewaterhouseCoopers Auditores Independentes in Brazil for audit failures and violations of PCAOB rules and standards.
SEC
Auditor Charged With Insider Trading on Client’s Nonpublic Information
Washington D.C., March 14, 2017—
The Securities and Exchange Commission today announced that an auditor based in the Silicon Valley has agreed to settle charges that he traded on inside information about a client on the verge of a merger.
SEC, National Bank of Belgium Agree to Enhanced Cooperation and Information Sharing Regarding Euroclear
Washington D.C., March 14, 2017—
The Securities and Exchange Commission today announced that it has entered into an arrangement with the National Bank of Belgium to enhance cooperation and information sharing regarding expanded services by Euroclear Bank, which provides clearance and settlement through its operation of the Euroclear System.
TIGTA
March 15, 2017
Former IRS Employee Indicted for Filing Fraudulent Tax Returns and Aggravated Identity Theft
March 15, 2017
Individual Pleads Guilty in Wisconsin to Conspiracy to Commit Wire Fraud
March 15, 2017
Three Individuals Plead Guilty to the Theft of a $4.3 Million Treasury Check