AICPA

Press Release
AICPA Recognizes Outstanding Young Contributors to the Profession with ‘Standing Ovation’ Honors
The AICPA honors 11 young CPAs for contributions to their specialty area with the fifth annual Standing Ovation award at AICPA ENGAGE.
July 24, 2020

Press Release
AICPA’s Financial Reporting Executive Committee Seeks Feedback on Insurance Entities Working Draft: Targeted Improvements to Long-Duration Contracts
The draft is related to the implementation of FASB Accounting Standards Update (ASU) No. 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts.
July 24, 2020

Press Release
Coronavirus Impact Drops Americans’ Financial Satisfaction to 2015 Levels: AICPA index
AICPA index explores the impact the coronavirus pandemic is having on the average American's personal financial well-being.
July 23, 2020

Press Release
Ed Slott and Zach Thies Honored at AICPA ENGAGE
AICPA honors Ed Slott,CPA and Zach Thies, CPA/PFS at AICPA ENGAGE.
July 23, 2020

CBO

Cost Estimate
H.R. 2733, Savanna's Act
July 23, 2020
As ordered reported by the House Committee on the Judiciary on March 11, 202

Cost Estimate
H.R. 4761, DHS Opioid Detection Resilience Act of 2019
July 23, 2020
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 11, 2020

Cost Estimate
S. 2802, Marine Mammal Research and Response Act of 2019
July 23, 2020
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on December 11, 2019

Cost Estimate
S. 3729, Motor Carrier Safety Grant Relief Act of 2020
July 23, 2020
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 20, 2020

Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 7573
July 22, 2020
As introduced on July 13, 2020, with an amendment

Cost Estimate
H.R. 7608, State, Foreign Operations, Agriculture, Rural Development, Interior, Environment, Military Construction, and Veterans Affairs Appropriations Act, 2021
July 21, 2020
As posted on the House Committee on Rules Website https://rules.house.gov/bill/116/hr-7608)

FASB

Participants to Discuss Experiences with Leases Implementation at FASB Virtual Roundtable  [07/23/20]
Media Advisory

GAO

Surface Transportation Security:
TSA Has Taken Steps to Improve its Surface Inspector Program, but Lacks Performance Targets
GAO-20-558: Published: Jul 27, 2020. Publicly Released: Jul 27, 2020.

Climate Resilience:
Actions Needed to Ensure DOD Considers Climate Risks to Contractors as Part of Acquisition, Supply, and Risk Assessment
GAO-20-511: Published: Jun 25, 2020. Publicly Released: Jul 27, 2020.

Housing:
Preliminary Analysis of Homeownership Trends for Nine Cities
GAO-20-544R: Published: Jun 25, 2020. Publicly Released: Jul 27, 2020.

Nuclear Weapons:
Action Needed to Address the W80-4 Warhead Program's Schedule Constraints
GAO-20-409: Published: Jul 24, 2020. Publicly Released: Jul 24, 2020.

K-12 Education:
School Districts Need Better Information to Help Improve Access for People with Disabilities
GAO-20-448: Published: Jun 30, 2020. Publicly Released: Jul 24, 2020.

Lake Ontario-St. Lawrence River Plan:
Improved Communication and Adaptive Management Strategy Could Help Address Stakeholder Concerns
GAO-20-529: Published: Jul 23, 2020. Publicly Released: Jul 23, 2020.

Missile Defense:
Assessment of Testing Approach Needed as Delays and Changes Persist
GAO-20-432: Published: Jul 23, 2020. Publicly Released: Jul 23, 2020.

F-35 Sustainment:
DOD Needs to Address Key Uncertainties as It Re-Designs the Aircraft's Logistics System
GAO-20-665T: Published: Jul 22, 2020. Publicly Released: Jul 22, 2020.

Sexual Harassment:
VA Needs to Better Protect Employees
GAO-20-654T: Published: Jul 22, 2020. Publicly Released: Jul 22, 2020.

Financial Company Bankruptcies:
Congress and Regulators Have Updated Resolution Planning Requirements
GAO-20-608R: Published: Jul 21, 2020. Publicly Released: Jul 21, 2020.

Defense Contractors:
Information on Violations of Safety, Health, and Fair Labor Standards
GAO-20-587R: Published: Jul. 20, 2020 Publicly Released: Jul. 20, 2020

GASB

GASB Requests Input on Proposals to Improve Key Components of Government Financial Reports  [07/24/20]
Media Advisory
Exposure Draft

IASB

24 July 2020
July 2020 IASB Update available and work plan updated

21 July 2020
July 2020 IFRS Taxonomy Consultative Group meeting papers available

21 July 2020
June 2020 ITCG meeting summary available

21 July 2020
Third webinar on Exposure Draft General Presentation and Disclosures in English, Japanese and Korean—recordings now available

IRS

IRS reminds businesses filing cash transaction reports about e-file option; batch filing now available
IR-2020-168, July 22, 2020 — The Internal Revenue Service reminds businesses required to file reports of large cash transactions that e-filing is a fast, easy and secure option for filing their reports.

Working Virtually: Protect tax data at home and at work with the "Security Six;" Part 1 of Security Summit tips for tax professionals
IR-2020-167, July 21, 2020 — With cyberthieves active during COVID-19, the Internal Revenue Service and the Security Summit partners today urged tax professionals to review critical security steps to ensure they are fully protecting client data whether working in the office or a remote location.

IRS creates new Enterprise Digitalization and Case Management office; Smith, Abold-LaBreche to serve as co-directors
IR-2020-166, July 21, 2020 — The Internal Revenue Service announced today the creation of the new Enterprise Digitalization and Case Management office, which will spearhead IRS efforts to empower taxpayers and IRS employees to rapidly resolve issues in a simplified digital environment.

​IRS advice for those who missed the July 15 deadline, file now to avoid bigger bill
IR-2020-164, July 20, 2020 — For those who missed the July 15 tax deadline and didn’t request an extension, the Internal Revenue Service reminds taxpayers about some important tips, including filing electronically as soon as possible to reduce potential penalties.

NYS

Governor Cuomo Announces President Trump Has No Plans to Send Federal Agents to New York City
July 26, 2020

Department of Financial Services Announces Cybersecurity Charges Against A Leading Title Insurance Provider For Exposing Millions of Documents with Consumers' Personal Information
July 22, 2020

SEC

Agencies Adopt Final Rule on the Orderly Liquidation of Covered Broker-Dealers under Title II of the Dodd-Frank Act
2020-163, July 24, 2020 — The Securities and Exchange Commission and the Federal Deposit Insurance Corporation have adopted a final rule required by the Dodd-Frank Act clarifying and implementing provisions relating to the orderly liquidation of certain brokers or dealers (covered broker-dealers) in the event the FDIC is appointed receiver under Title II of the Dodd-Frank Act. The FDIC and SEC developed the final rule in consultation with the Securities Investor Protection Corporation (SIPC).

SEC Charges Trustify Inc. and Founder in $18.5 Million Offering Fraud
2020-162, July 24, 2020 — The Securities and Exchange Commission today charged Trustify Inc., an online marketplace purportedly designed to connect customers to a network of private investigators, and its founder and CEO Daniel Boice with fraudulently offering and selling over $18.5 million of securities to more than 90 corporate and individual investors.

SEC Adopts Rule Amendments to Provide Investors Using Proxy Voting Advice More Transparent, Accurate and Complete Informatio
2020-161, July 22, 2020 — The Securities and Exchange Commission today voted to adopt amendments to its rules governing proxy solicitations designed to ensure that clients of proxy voting advice businesses have reasonable and timely access to more transparent, accurate and complete information on which to make voting decisions.  The amendments aim to facilitate the ability of those who use proxy voting advice—investors and others who vote on investors’ behalf—to make informed voting decisions without imposing undue costs or delays that could adversely affect the timely provision of proxy voting advice.

SEC Charges Silicon Valley Start-Up and CEO With Defrauding Investors
2020-160, July 20, 2020 — The Securities and Exchange Commission today charged a Mountain View, California-based technology start-up and its chief executive officer with defrauding investors by making false and misleading statements about the company’s finances and sources of revenue.

UBS to Pay $10 Million for Violating Rules Which Give Priority To Retail Investors in Municipal Offerings
2020-159 July 20, 2020 —The Securities and Exchange Commission today announced that UBS Financial Services Inc. has agreed to pay more than $10 million to resolve charges that it circumvented the priority given to retail investors in certain municipal bond offerings.

SEC Charges Financial Advisor with Fraud for Stealing Millions from Investors
2020-158 July 20, 2020 — The Securities and Exchange Commission today charged former registered representative and investment adviser Michael Barry Carter with fraud for stealing from brokerage customers and an elderly advisory client.