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IRS Drafting New Regulations on Digital Asset Reporting Requirements
Taxation
The IRS is in the process of drafting proposed regulations on digital asset reporting requirements, but the details are yet…
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Regulatory Roundup: May 14-20
Regulatory Roundup
AICPA AICPA Auditing Standards Board Approves Revisions to Attestation StandardsMay 17, 2024 AICPA & CIMA and PwC join…
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US Moves to Reclassify Cannabis as a Less Dangerous Drug
Trusted Professional
The U.S. Department of Justice (DOJ) has started the process of reclassifying cannabis as a less dangerous drug, it…
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Supreme Court Dismisses Challenge to Funding of Consumer Protection Agency
Trusted Professional
The U.S. Supreme Court, by a 7-2 margin, rejected a challenge to the way that the Consumer Financial Protection Bureau…
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IRS Adds Protections to Guard Against Identity Theft
Taxation
The IRS announced that it has added new protections to two of its systems in order to guard against identity theft,…
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PCAOB Updates Its Agendas to Reflect Recently Completed Projects
Auditing
The Public Company Accounting Oversight Board (PCAOB) updated its standard-setting, research and rulemaking agendas to…
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IRS Warns of Scams on Social Media That May Lead Taxpayers to File Erroneous Claims
Taxation
The IRS has issued an alert about a series of tax scams and inaccurate social media advice. Such scams have prompted…
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PCAOB Approves New Standards on Quality Control and Auditor Responsibility
Auditing
On May 13, the Public Company Accounting Oversight Board (PCAOB) approved two new standards: one on auditors’ quality…
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Prompted By Critical Report, Gov. Hochul Orders Overhaul of NY’s Cannabis Agency
Trusted Professional
New York Gov. Kathy Hochul has ordered an operational overhaul of the state’s Office of Cannabis Management (OCM) in the…
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