Trusted Professional

Regulatory Roundup: June 20-26

AICPA 

Jun 25 AICPA and U.S. Small Business Administration Announce Strategic Alliance

CBO

Blog Post
Director’s Statement on The 2018 Long-Term Budget Outlook
June 26, 2018

Report
The 2018 Long-Term Budget Outlook
June 26, 2018

Cost Estimate
H.R. 6084, Improving Social Security’s Service to Victims of Identity Theft Act
June 25, 2018

Cost Estimate
H.R. 5905, Department of Energy Science and Innovation Act of 2018
June 25, 2018

Cost Estimate
H.R. 3861, Federal Insurance Office Reform Act of 2017
June 25, 2018

Cost Estimate
H.R. 5793, Housing Choice Voucher Mobility Demonstration Act of 2018
June 25, 2018

Cost Estimate
H.R. 5906, ARPA-E Act of 2018
June 25, 2018

Presentation
Exploring the Growth of Medicaid Managed Care
June 25, 2018

Report
Distribution of Federal Support for Students Pursuing Higher Education in 2016
June 25, 2018

Cost Estimate
H.R. 4567, DHS Overseas Personnel Enhancement Act of 2017
June 22, 2018

Cost Estimate
H.R. 4581, Screening and Vetting Passenger Exchange Act of 2017
June 22, 2018

Cost Estimate
H.R. 5751, Golden Spike 150th Anniversary Act
June 22, 2018

Cost Estimate
H.R. 6069, FIND Trafficking Act
June 22, 2018

Cost Estimate
H.R. 5907, NIMBLE Act
June 22, 2018

Cost Estimate
H.R. 4032, Gila River Indian Community Federal Rights-of-Way, Easements and Boundary Clarification Act
June 22, 2018

Presentation
Effective Marginal Tax Rates for Low- and Moderate-Income Workers in 2016
June 22, 2018

Presentation
An Overview of CBO’s Microsimulation Tax Model
June 22, 2018

Cost Estimate
H.R. 3400, Recreation Not Red Tape Act
June 21, 2018

Cost Estimate
H.R. 4528, a bill to make technical amendments to certain marine fish conservation statutes, and for other purposes
June 21, 2018

Cost Estimate
S. 2276, GAO-IG Act
June 21, 2018

Cost Estimate
H.R. 5733, DHS Industrial Control Systems Capabilities Enhancement Act of 2018
June 21, 2018

Cost Estimate
S. 3042, Agriculture Improvement Act of 2018
June 21, 2018

Working Paper
Comparing the Effects of Current Pay and Defined Benefit Pensions on Employee Retention: Working Paper 2018-06
June 21, 2018

Blog Post
Estimating the Long-Term Effects of Federal R&D Spending: CBO’s Current Approach and Research Needs
June 21, 2018

Cost Estimate
H.R. 6, SUPPORT for Patients and Communities Act
June 20, 2018

Cost Estimate
S. 1953, Tribal Law and Order Reauthorization and Amendments Act of 2018
June 20, 2018

Cost Estimate
S. 2511, CENOTE Act of 2018
June 20, 2018

Cost Estimate
H.R. 5904, No Oil Producing and Exporting Cartels Act of 2018
June 20, 2018

Cost Estimate
H.R. 4861, EQUAL Act of 2018
June 20, 2018

FASB

FASB Issues Proposed Accounting Standards Update—Not-for-Profit Entities (Topic 958): Updating the Definition of Collections  [06/26/18]
Exposure Document

FASB Clarifies and Improves Guidance for Not-for-Profit Grant and Contribution Accounting  [06/21/18]
News Release
ASU 2018-08
FASB In Focus
Video

GAO

Artificial Intelligence:
Emerging Opportunities, Challenges, and Implications for Policy and Research
GAO-18-644T:Published: Jun 26, 2018. Publicly Released: Jun 26, 2018.

Lead Paint in Housing:
HUD Should Strengthen Compliance Monitoring and Performance Assessment in its Rental Assistance Programs
GAO-18-650T:Published: Jun 26, 2018. Publicly Released: Jun 26, 2018.

VA IT Modernization:
Preparations for Transitioning to a New Electronic Health Record System Are Ongoing
GAO-18-636T:Published: Jun 26, 2018. Publicly Released: Jun 26, 2018.

Defense Management:
DOD Senior Leadership Has Not Fully Implemented Statutory Requirements to Promote Department-Wide Collaboration
GAO-18-513:Published: Jun 25, 2018. Publicly Released: Jun 25, 2018.

Freedom of Information Act:
Agencies Are Implementing Requirements but Additional Actions Are Needed
GAO-18-365:Published: Jun 25, 2018. Publicly Released: Jun 25, 2018.

Military Personnel:
Collecting Additional Data Could Enhance Pilot Retention Efforts
GAO-18-439:Published: Jun 21, 2018. Publicly Released: Jun 21, 2018.

The Nation's Fiscal Health:
Action Is Needed to Address the Federal Government's Fiscal Future
GAO-18-299SP:Published: Jun 21, 2018. Publicly Released: Jun 21, 2018.

Veterans Health Administration:
Steps Taken to Improve Physician Staffing, Recruitment, and Retention, but Challenges Remain
GAO-18-623T:Published: Jun 21, 2018. Publicly Released: Jun 21, 2018.

Military Readiness:
Analysis of Maintenance Delays Needed to Improve Availability of Patriot Equipment for Training
GAO-18-447:Published: Jun 20, 2018. Publicly Released: Jun 20, 2018.

GASB

GASB Establishes New Guidance for Interest Cost Incurred Before the End of a Construction Period  [06/22/18]
Media Advisory
Statement No. 89

GASB Outlook E-Newsletter Q2 2018  [06/20/18]
Newsletter

IASB

26 June 2018
Transforming the impact of financial information: the role of technology

26 June 2018
IFRS Foundation Trustees appoint two IFRS Interpretations Committee members

25 June 2018
Forthcoming publication: Discussion Paper—Financial Instruments with Characteristics of Equity

22 June 2018
June 2018 IASB Update, including IASB–FASB joint meeting, published and work plan updated

21 June 2018
June 2018 IFRIC Update published

20 June 2018
Reminder: Capital Markets Advisory Committee seeks new members

20 June 2018
The IFRS Taxonomy Illustrative Examples 2018 are now available

IRS 

Save money, register now for Washington-area IRS Tax Forum; Seminars focus on tax reform, cybersecurity topics
IR-2018-141, June 26, 2018 — Tax professionals interested in attending the IRS Nationwide Tax Forum in National Harbor, Md., can save $115 by registering soon, according to the IRS.

NYC Dept. of Finance 

June 21, 2018
Commissioner Jiha's opening remarks from DOF's 1st Annual Pride Celebration.

NYS Dept. of Taxation and Finance 

Don’t Take a Vacation from Protecting Your Private Information

SEC

SEC Charges Credit Ratings Analyst and Two Friends with Insider Trading
Washington D.C., June 26, 2018 — The Securities and Exchange Commission today charged a credit ratings agency employee with tipping two friends about The Sherwin-Williams Co.’s confidential plans to acquire The Valspar Corp., which he learned of through his work.  The SEC also charged the two friends with trading on the illicit tips, which reaped them substantial profits.

Wells Fargo Advisors Settles SEC Charges for Improper Sales of Complex Financial Products
Washington D.C., June 25, 2018  — The Securities and Exchange Commission today announced that Wells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors.