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Regulatory Roundup: June 4-10
Regulatory Roundup
AICPA AICPA Recognizes Extraordinary 2023 CPA Exam Performers with Elijah Watt Sells Award June 10, 2024 Eight CPAs…
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At Conference, SEC and FASB Officials Discuss Need to Prioritize Integrity
Accounting
Audit firms need to be viewed as prioritizing high-quality audits and staff and partner integrity, top officials at the…
Read More
Tax Expert Warns of Drawbacks to Digital Nomad Visas
Taxation
There are many tax considerations Americans working remotely offshore with no fixed business address—so-called “digital…
Read More
Federal Appeals Court Strikes Down SEC Fee Disclosure Rules for Private Equity and Hedge Funds
Trusted Professional
A federal appeals court has struck down Securities and Exchange Commission (SEC) rules that would have governed the terms…
Read More
IRS Turns to AI to Collect Underreported Taxes and Narrow Tax Gap
Taxation
The IRS is using artificial intelligence (AI) to help select tax returns to audit as it tries to narrow the tax gap,…
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FASB Proposes Rule on Recognizing Government Grants
Accounting
The Financial Accounting Standards Board (FASB) has proposed a rule on how companies account for government grants in their…
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Study: ChatGPT Better at Financial Statement Analysis Than Humans
Trusted Professional
ChatGPT was found to be more accurate than human analysts in predicting whether a company's earnings would rise or fall, an…
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House GOP Sets up Tax Teams to Study Expiring Provisions of 2017 Tax Law
Taxation
The top Republican on the U.S. House of Representatives’ tax-writing committee has introduced 10 tax teams charged with…
Read More
Consumer Protection Agency to Create Public Registry of Repeat Financial Offenders
Trusted Professional
The Consumer Financial Protection Bureau (CFPB) announced that it has finalized a rule to create a public registry of…
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