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FASB Solicits Feedback on Proposed Hedge Accounting Improvements
Accounting
The Financial Accounting Standards Board (FASB) published a proposed Accounting Standards Update (ASU) on Sept. 25. In a…
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IFRS Foundation Releases Guide for the Voluntary Application of ISSB Standards
Accounting
On Sept. 25, the International Financial Reporting Standards (IFRS) Foundation published a manual titled Voluntarily applying…
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PCAOB Sanctions Five Firms for Violating Audit Committee Reporting Requirements
Auditing
The Public Company Accounting Oversight Board (PCAOB) sanctioned four audit firms for violating the agency's rules and…
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AICPA Requests Feedback Due Dec. 20 on Preparing Financial Statements
Accounting
The AICPA is looking to amend the association's standard related to financial statement preparation, the CPA Practice…
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IRS Releases 2024-2025 Special Per Diem Rates for Business Travel
Taxation
On Sept. 20, the IRS released Notice 2024-68, which sets the 2024-2025 special per diem rates for taxpayers to…
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IASB Announces Public Consultation on Improvements to the Equity Method
Accounting
On Sept. 19, the International Accounting Standards Board (IASB) announced a public consultation on proposed amendments to…
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FinCEN Issues Toolkit for Beneficial Ownership Reporting Outreach
Accounting
On Sept. 19, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a toolkit to help small…
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Regulatory Roundup: September 17-23
Regulatory Roundup
CBO Cost EstimateH.R. 6235, Harmful Algal Bloom and Hypoxia Research and Control Amendments Act of 2023September 20,…
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GAO Recommends IRS Better Prepare for Implementation of 1099-K and 1099-DA Reporting Requirements
Taxation
The Government Accountability Office (GAO) released a report on Sept. 19 recommending that the IRS better prepare to…
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