Regulatory Roundup: July 25-31
AICPA
July 30, 2018
Legislation Limiting Damage Awards Against State Regulatory Boards Has Backing of CPA Profession
Press Release: The Occupational Licensing Board Antitrust Damages Relief and Reform Act would protect state boards (including accountancy boards), their members and staff from damage awards.
July 26, 2018
Record Job Openings and Rebounded Market Guide Americans’ Financial Satisfaction to All-Time High: AICPA Index
Press Release: Americans are experiencing their highest levels of personal financial satisfaction despite a rising interest rate environment, according to the AICPA’s Q2 2018 Personal Financial Satisfaction Index.
CBO
Cost Estimate
H.R. 6207, Democratic Republic of the Congo Democracy and Accountability Act of 2018
July 27, 2018
Cost Estimate
H.R. 4616, Employer Relief Act of 2018
July 27, 2018
Cost Estimate
H.R. 5819, BURMA Act of 2018
July 27, 2018
Cost Estimate
H.R. 5385, Dr. Benjy Frances Brooks Children’s Hospital GME Support Reauthorization Act of 2018
July 27, 2018
Cost Estimate
S. 2779, Zimbabwe Democracy and Economic Recovery Amendment Act of 2018
July 27, 2018
Cost Estimate
S. 2597, Children’s Hospital GME Support Reauthorization Act of 2018
July 27, 2018
Cost Estimate
H.R. 5898, UNRWA Accountability Act of 2018
July 27, 2018
Cost Estimate
H.R. 3728, Educating Medical Professionals and Optimizing Workforce Efficiency and Readiness Act of 2018
July 26, 2018
Cost Estimate
H.R. 1676, Palliative Care and Hospice Education and Training Act
July 26, 2018
Report
Answers to Questions for the Record Following a Hearing Conducted by the House Committee on the Budget on The Budget and Economic Outlook: 2018 to 2028
July 26, 2018
Report
Answers to Questions for the Record Following a Hearing Conducted by the House Committee on the Budget on CBO Oversight: The Role of Behavioral Modeling in Scoring and Baseline Construction
July 26, 2018
FASB
FASB Issues Targeted Improvements to Leases Standard [7/30/18]
News Release
ASU 2018-11
FASB Outlook E-Newsletter Q3 2018 [07/30/18]
Newsletter
GAO
Buying Commercial Products:
Assessment of the E-Commerce Portal Implementation Plan
GAO-18-578:Published: Jul 30, 2018. Publicly Released: Jul 30, 2018.
Foreign Military Sales:
Financial Oversight of the Use of Overhead Funds Needs Strengthening
GAO-18-553:Published: Jul 30, 2018. Publicly Released: Jul 30, 2018.
Military Space Systems:
DOD's Use of Commercial Satellites to Host Defense Payloads Would Benefit from Centralizing Data
GAO-18-493:Published: Jul 30, 2018. Publicly Released: Jul 30, 2018.
Public Transit Partnerships:
Additional Information Needed to Clarify Data Reporting and Share Best Practices
GAO-18-539:Published: Jul 30, 2018. Publicly Released: Jul 30, 2018.
Aviation Security:
Basic Training Program for Transportation Security Officers Would Benefit from Performance Goals and Measures
GAO-18-552:Published: Jul 26, 2018. Publicly Released: Jul 26, 2018.
2020 Census:
Bureau Has Made Progress with Its Scheduling, but Further Improvement Will Help Inform Management Decisions
GAO-18-589:Published: Jul 26, 2018. Publicly Released: Jul 26, 2018.
Medicaid Managed Care:
Improvements Needed to Better Oversee Payment Risks
GAO-18-528:Published: Jul 26, 2018. Publicly Released: Jul 26, 2018.
National Institute of Standards and Technology:
Additional Review and Coordination Could Help Meet Measurement Service Needs and Strengthen Standards Activities
GAO-18-445:Published: Jul 26, 2018. Publicly Released: Jul 26, 2018.
Historically Black Colleges and Universities:
Action Needed to Improve Participation in Education's HBCU Capital Financing Program
GAO-18-455:Published: Jun 26, 2018. Publicly Released: Jul 26, 2018.
Federal Real Property:
GSA Outleasing and Restrictions on Participation of Elected Officials
GAO-18-603R:Published: Jul 25, 2018. Publicly Released: Jul 25, 2018.
Grants Management:
Observations on Challenges and Opportunities for Reform
GAO-18-676T:Published: Jul 25, 2018. Publicly Released: Jul 25, 2018.
High-Risk Series:
Urgent Actions Are Needed to Address Cybersecurity Challenges Facing the Nation
GAO-18-645T:Published: Jul 25, 2018. Publicly Released: Jul 25, 2018.
SSA Disability Programs:
Better Metrics and Evaluation Needed to Inform Decision-Making
GAO-18-677T:Published: Jul 25, 2018. Publicly Released: Jul 25, 2018.
Social Security Disability:
Better Timeliness Metrics Needed to Assess Transfers of Appeals Work
GAO-18-501:Published: Jul 19, 2018. Publicly Released: Jul 25, 2018.
IASB
31 July 2018
Webcast: Classification of compound instruments and redemption obligation arrangements—FICE Discussion Paper
30 July 2018
July IASB podcast now available
30 July 2018
IFRS 17 implementation: the next TRG meeting will be held on 26–27 September 2018
30 July 2018
Webcast: Classification of derivatives on own equity—FICE Discussion Paper
30 July 2018
Final call for new Capital Markets Advisory Committee members
IRS
Tax Security 101: Security Summit reminds tax professionals to beware of spear phishing emails
IR-2018-157, July 31, 2018 — The IRS and its Security Summit partners today reminded tax professionals that being targeted by spear phishing emails remains the most common way data thieves enter practitioner’s digital networks and steal client information.
IRS offers guidance on recent 529 education savings plan changes
IR-2018-156, July 30, 2018 — The Internal Revenue Service and Department of the Treasury today announced their intent to issue regulations on three recent tax law changes affecting popular 529 education savings plans.
IRS imposes monetary penalty and probationary period on tax practitioner and his debt-relief firm for engaging in false and misleading advertising
IR-2018-155, July 25, 2018 — The IRS today announced its Office of Professional Responsibility (OPR) reached a settlement agreement including a monetary penalty with a tax practitioner for violating professional rules of conduct set forth in Circular 230.
IRS censures tax practitioner for willfully mishandling conflicts of interest
IR-2018-154, July 25, 2018 – The Internal Revenue Service today announced its Office of Professional Responsibility (OPR) censured a tax practitioner for violating conflict of interest rules under Circular 230.
IRS reminds truckers: E-file highway use tax return by Aug. 31
IR-2018-153, July 25, 2018 — The Internal Revenue Service today reminded owners of most heavy highway vehicles that the time to file Form 2290, Heavy Highway Vehicle Use Tax Return, began July 1, 2018.
NYS Dept. of Taxation and Finance
Onondaga County Tire Store Owner Accused of Grand Larceny
PCAOB
PCAOB Announces 332 Scholarships for the 2018-2019 Academic Year
July 26, 2018
SEC
Statement Announcing SEC Staff Roundtable on the Proxy Process
July 30, 2018
Shareholder engagement is a hallmark of our public capital markets, and the proxy process is a fundamental component of that engagement. In 2010, the Commission issued a concept release seeking public comment on whether the U.S. proxy system as a whole operates with the accuracy, reliability, transparency, accountability, and integrity that shareholders and companies should expect. In light of the many changes in our markets, technology, and how companies operate since then, SEC staff will host a roundtable this fall to hear from investors, issuers, and other market participants about whether the SEC’s proxy rules should be refined.
TIGTA
Review of the Internal Revenue Service’s Purchase Card Violations Report
Report Date: 07/27/2018
Audit Highlights: HTML
Audit Reports: PDF
Initial Efforts to Develop an Enterprise Case Management Solution Were Unsuccessful; Other Options Are Now Being Evaluated
Report Date: 07/27/2018
Audit Highlights: HTML
Audit Reports: PDF
Information Technology Investment Management Controls Should Be Better Aligned With the Federal Information Technology Acquisition Reform Act of 2014
Report Date: 07/27/2018
Audit Highlights: HTML
Audit Reports: PDF
Information Technology Investment Management Controls Should Be Better Aligned With the Federal Information Technology Acquisition Reform Act of 2014
Report Date: 07/27/2018
Audit Highlights: HTML
Audit Reports: PDF
The Internal Revenue Service Lacks a Coordinated Strategy to Address Unregulated Return Preparer Misconduct
Report Date: 07/25/2018
Audit Highlights: HTML
Audit Reports: PDF
Fiscal Year 2018 Statutory Review of Disclosure of Collection Activities on Joint Returns
Report Date: 07/25/2018
Audit Highlights: HTML
Audit Reports: PDF