AICPA 

AICPA, NASBA and Prometric Announce U.S. CPA Exam to be Administered in Europe
AICPA, NASBA and Prometric announce that the U.S. CPA Exam will be available at test centers in Europe, starting on 10/1/2018
September 5, 2018

AICPA Writes Treasury and IRS about TCJA Repatriation Tax on Foreign Earnings Issues
The AICPA's comment letters relate to automatic penalty relief and to audit protection for controlled foreign corporations.
September 4, 2018

CBO

Cost Estimate
S. 1896, TSA LEAP Pay Reform Act of 2017
September 4, 2018

Cost Estimate
H.R. 6447, Department of Homeland Security Chief Data Officer Authorization Act
September 4, 2018

Cost Estimate
H.R. 5347, Lyon County Economic Development and Environmental Remediation Act
September 4, 2018

Cost Estimate
H.R. 4419, Bureau of Reclamation and Bureau of Indian Affairs Water Project Streamlining Act
September 4, 2018

Cost Estimate
H.R. 5841, Foreign Investment Risk Review Modernization Act of 2018
September 4, 2018

Cost Estimate
H.R. 6391, Merit Systems Protection Board Reauthorization Act of 2018
September 4, 2018

Cost Estimate
S. 1092, Interstate Transport Act of 2018
September 4, 2018

Cost Estimate
H.R. 5749, Options Markets Stability Act
September 4, 2018

Cost Estimate
H.R. 3626, Bank Service Company Examination Coordination Act of 2017
September 4, 2018

Cost Estimate
H.R. 6459, TSA Opportunities to Pursue Expanded Networks for Business Act
August 31, 2018

Cost Estimate
H.R. 6461, TSA National Deployment Force Act
August 31, 2018

Cost Estimate
S. 808, Sports Medicine Licensure Clarity Act of 2017
August 30, 2018

Cost Estimate
S. 2764, Sustainable Shark Fisheries and Trade Act of 2018
August 30, 2018

Cost Estimate
H.R. 1320, Nuclear Utilization of Keynote Energy Act
August 30, 2018

Cost Estimate
H.R. 5532, Reconstruction Era National Historical Park Act
August 30, 2018

Cost Estimate
H.R. 6088, SPEED Act
August 30, 2018

Cost Estimate
H.R. 4423, North Texas Water Supply Security Act of 2018
August 30, 2018

Cost Estimate
H.R. 6040, Contra Costa Canal Transfer Act
August 29, 2018

Cost Estimate
H.R. 2389, a bill to reauthorize the West Valley Demonstration Project, and for other purposes
August 29, 2018

Cost Estimate
S. 1888, Voluntary Separation Incentive Payment Adjustment Act of 2017
August 29, 2018

Cost Estimate
H.R. 6040, Contra Costa Canal Transfer Act
August 29, 2018

FASB

FASB Improves the Accounting for Costs of Implementing a Cloud Computing Service Arrangement  [08/29/18] 
News Release
ASU 2018-15

GAO

VA Health Care:
Improvements in Oversight Needed for Reusable Medical Equipment
GAO-18-686T:Published: Sep 5, 2018. Publicly Released: Sep 5, 2018.

Community Banks:
Effect of Regulations on Small Business Lending and Institutions Appears Modest, but Lending Data Could Be Improved
GAO-18-312:Published: Aug 6, 2018. Publicly Released: Sep 5, 2018.

Reported Injuries to U.S. Personnel in Cuba:
State Should Revise Policies to Ensure Appropriate Internal Communication of Relevant Incidents
GAO-18-615:Published: Jul 30, 2018. Publicly Released: Sep 5, 2018.

Adolescent and Young Adult Substance Use:
Federal Grants for Prevention, Treatment, and Recovery Services and for Research
GAO-18-606:Published: Sep 4, 2018. Publicly Released: Sep 4, 2018.

Coast Guard Acquisitions:
Polar Icebreaker Program Needs to Address Risks before Committing Resources
GAO-18-600:Published: Sep 4, 2018. Publicly Released: Sep 4, 2018.

DEFENSE INFRASTRUCTURE:
Guidance Needed to Develop Metrics and Implement Cybersecurity Requirements for Utilities Privatization Contracts
GAO-18-558:Published: Sep 4, 2018. Publicly Released: Sep 4, 2018.

Defense Logistics:
DOD Needs to Improve Budget Estimates and Accuracy of Forecasts for Airlift Services
GAO-18-557:Published: Sep 4, 2018. Publicly Released: Sep 4, 2018.

2017 Hurricanes and Wildfires:
Initial Observations on the Federal Response and Key Recovery Challenges
GAO-18-472:Published: Sep 4, 2018. Publicly Released: Sep 4, 2018.

VA Health Care:
Improved Oversight Needed for Reusable Medical Equipment
GAO-18-474:Published: Aug 3, 2018. Publicly Released: Sep 4, 2018. 

Department of Homeland Security:
Components Could Improve Monitoring of the Employee Misconduct Process [Reissued with revisions on Sep. 4, 2018.]
GAO-18-405:Published: Jul 31, 2018. Publicly Released: Aug 30, 2018.

2020 Census:
Continued Management Attention Needed to Address Challenges and Risks with Developing, Testing, and Securing IT Systems
GAO-18-655:Published: Aug 30, 2018. Publicly Released: Aug 30, 2018.

Export-Import Bank:
Status of End-Use Monitoring of Dual-Use Exports as of August 2018
GAO-18-683R:Published: Aug 30, 2018. Publicly Released: Aug 30, 2018.

GASB

GASB Clarifies Guidance on Majority Equity Interests  [09/04/18] 
Media Advisory
Statement No. 90

IASB

04 September 2018
Summary of July 2018 ASAF meeting available

03 September 2018
September IFRS IC meeting papers and agenda available

29 August 2018
Chairman's speech: Japan and IFRS^® Standards

IRS 

Clarification for business taxpayers: Payments under state or local tax credit programs may be deductible as business expenses
IR-2018-178, Sept. 5, 2018 — Business taxpayers who make business-related payments to charities or government entities for which the taxpayers receive state or local tax credits can generally deduct the payments as business expenses, the Internal Revenue Service said today.

Tax Security 101: IRS, Summit Partners detail warning signs of client data theft; urge tax professionals to remain alert
IR-2018-177, Sept. 4, 2018 — The IRS, state tax agencies and the tax industry today called on tax professionals to be alert to the subtle signs of data theft, noting continuing cases where practitioners are victims of theft and don’t even know it.

IRS: Offshore Voluntary Compliance Program to end Sept. 28
IR-2018-176, Sept. 4, 2018 – The Internal Revenue Service today reminded taxpayers they have until Sept. 28 to apply for the Offshore Voluntary Disclosure Program (OVDP).

NYS Dept. of Taxation and Finance

Enjoy Sales Tax-Free Outdoor Activities this Labor Day Weekend

SEC

SEC Names Rebecca J. Olsen as Director of the Office of Municipal Securities
Washington D.C., Sept. 4, 2018 —The Securities and Exchange Commission today announced that Rebecca J. Olsen has been named Director of the agency's Office of Municipal Securities (OMS). Ms. Olsen has served as OMS's Acting Director since September 2017.

SEC Charges Telecommunications Expense Management Company With Accounting Fraud
Washington D.C., Sept. 4, 2018 —The Securities and Exchange Commission today charged a telecommunications expense management company for its use of fraudulent accounting practices that artificially boosted company revenues between 2013 and 2015.  Four former members of the company’s senior management team were also charged for their roles in the alleged misconduct.

Sanofi Charged With FCPA Violations
Washington D.C., Sept. 4, 2018 —The Securities and Exchange Commission today announced that Paris-based pharmaceutical company Sanofi has agreed to pay more than $25 million to resolve charges that its Kazakhstan and the Middle East subsidiaries made corrupt payments to win business.

Agencies Extend Comment Period for Proposed Rule Simplifying and Tailoring the “Volcker Rule”
Washington D.C., Sept. 4, 2018—Five federal financial regulatory agencies on Tuesday extended until Oct. 17, 2018, the comment period for a proposed rule to simplify and tailor compliance requirements for the “Volcker rule.” The Volcker rule generally restricts banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds.

SEC Charges Buffalo Advisory Firm and Principal With Fraud Relating to Association With Barred Adviser
Washington D.C., Aug. 30, 2018 —The Securities and Exchange Commission today filed charges against a Buffalo, New York, investment advisory firm and its owner for misleading firm clients about its association with a barred investment adviser, who is also being charged for violating the bar. 

SEC Charges Florida Cash Advance Company, Former CEO With Defrauding Retail Investors
Washington D.C., Aug. 29, 2018 —The Securities and Exchange Commission today announced charges against 1 Global Capital LLC and its former chief executive officer for allegedly defrauding at least 3,400 retail investors, more than one-third of whom invested their retirement funds. The Florida-based cash advance company and former CEO Carl Ruderman allegedly fraudulently raised more than $287 million since 2014 in unregistered securities sold through a network that included barred brokers.

SEC Charges NFL Player and Former Investment Banker With Insider Trading

Washington D.C., Aug. 29, 2018 —The Securities and Exchange Commission today charged a professional football player and a former investment banker with insider trading in advance of corporate acquisitions facilitated through coded text messages and FaceTime conversations.

TIGTA 

The Internal Revenue Service Can More Effectively Address Noncompliance by Better Using and Controlling the Fed/State Program
Report Date: 08/29/2018
Audit Highlights: HTML
Audit Reports: PDF