AICPA

Majority of Americans Believe They are Likely to Be Impacted by a Natural Disaster, Few are Financially Prepared: AICPA Survey
AICPA research found that while many Americans have taken at least one step towards being prepared for a natural disaster, few have taken them all.
May 27, 2020

FASB

Hillary H. Salo Named Technical Director of the Financial Accounting Standards Board 05/27/20]
News Release

FAF Issues 2019 Annual Report, “Standards That Work for Everyone” [05/26/20]
Media Advisory
Annual Report

GAO

Defense Health Care:
Additional Information and Monitoring Needed to Better Position DOD for Restructuring Medical Treatment Facilities
GAO-20-371: Published: May 29, 2020. Publicly Released: May 29, 2020.

Wildfire:
Information on Forest Service Response, Key Concerns, and Effects of the Chetco Bar Fire
GAO-20-424: Published: Apr 29, 2020. Publicly Released: May 29, 2020.

Science & Tech Spotlight:
Quantum Technologies
GAO-20-527SP: Published: May 28, 2020. Publicly Released: May 28, 2020.

Whistleblowers:
Office of Special Counsel Should Require Information on the Probationary Status of Whistleblowers
GAO-20-436: Published: May 28, 2020. Publicly Released: May 28, 2020.

Cybersecurity:
Selected Federal Agencies Need to Coordinate on Requirements and Assessments of States
GAO-20-123: Published: May 27, 2020. Publicly Released: May 27, 2020.

Bureau of Prisons:
Improved Planning Would Help BOP Evaluate and Manage Its Portfolio of Drug Education and Treatment Programs
GAO-20-423: Published: May. 26, 2020 Publicly Released: May. 26, 2020

Science & Tech Spotlight:
COVID-19 Vaccine Development
GAO-20-583SP: Published: May. 26, 2020 Publicly Released: May. 26, 2020

IASB

29 May 2020
May 2020 IASB podcast available now

29 May 2020
Forthcoming second webinar in Japanese on Exposure Draft General Presentation and Disclosures

28 May 2020
IASB issues amendment to IFRS Standard on leases to help lessees accounting for covid-19-related rent concessions

27 May 2020
Forthcoming webinar in Chinese on Discussion Paper Business Combinations—Disclosures, Goodwill and Impairment

IRS

Treasury, IRS provide regulations to help businesses claim credits for carbon capture
IR-2020-108, May 28, 2020 –The Treasury Department and the Internal Revenue Service today issued proposed regulations to help businesses understand how legislation passed in 2018 may benefit those claiming carbon capture credits.

IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for electronic returns
IR-2020-107, May 28, 2020 — The Internal Revenue Service  announced today that later this summer taxpayers will for the first time be able to file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products.

Treasury, IRS provide safe harbor for taxpayers that develop renewable energy projects
IR-2020-106, May 27, 2020 — The Treasury Department and the Internal Revenue Service today provided tax relief for taxpayers that develop renewable energy projects that produce electricity from sources such as wind, biomass, geothermal, landfill gas, trash, and hydropower, and use technologies such as solar panels, fuel cells, microturbines, and combined heat and power systems.

Economic Impact Payments being sent by prepaid debit cards, arrive in plain envelope; IRS.gov answers frequently asked questions
IR-2020-105, May 27, 2020 — As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card.

IRS provides guidance on income tax withholding on certain periodic retirement and annuity payments
IR-2020-104, May 27, 2020 — The U.S. Department of the Treasury and the Internal Revenue Service today issued a proposed regulation updating the federal income tax withholding rules for periodic retirement and annuity payments made after December 31, 2020.

Treasury, IRS issue final regulations providing relief for certain tax-exempt organizations
IR-2020-103, May 26, 2020 — The Department of the Treasury and the Internal Revenue Service today issued final regulations clarifying the reporting requirements generally applicable to tax-exempt organizations.

​IRS Fraud Enforcement Program adds Schenck as National Fraud Counsel

SEC

SEC Issues Agenda for June 1 Meeting of the Fixed Income Market Structure Advisory Committee
2020-125, May 28, 2020 — The Securities and Exchange Commission today released the agenda for the June 1 meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC). The Commission established the FIMSAC to provide a formal mechanism through which the Commission can receive advice and recommendations on fixed income market structure issues

Unregistered $25.5 Million ICO Issuer to Return Money for Distribution to Investors
020-124, May 28, 2020 — The Securities and Exchange Commission today announced charges against blockchain services company BitClave PTE Ltd. headquartered in San Jose, California, for conducting an unregistered initial coin offering (ICO) of digital asset securities.  BitClave agreed to settle the charges by returning proceeds from the offering and paying additional monetary relief to be distributed to investors through a Fair Fund.

Private Equity Firm Ares Management LLC Charged With Compliance Failures
2020-123, May 26, 2020 — The Securities and Exchange Commission today announced that Ares Management LLC, a Los Angeles-based private equity firm and registered investment adviser, has agreed to pay one million dollars to settle charges that it failed to implement and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic information.