International


The International Accounting Standards Board publishes an exposure draft of a group of proposals, First-time Application of International Financial Reporting Standards ( www.iasb.org.uk/docs/ed1/ed1.pdf ), intended to ensure that entities adopting these standards provide in their financial statements information comparable to that reported under previous standards. The board wants to make certain investors have adequate information to analyze a reporting entity’s first financial statements using the international standards and to minimize the cost of transition for statement preparers. Comments are due October 31.

The International Federation of Accountants releases exposure drafts ( www.ifac.org ) of seven education standards: Entry Requirements, Content of Professional Education Programs, Professional Skills and General Education, Professional Values and Ethics, Experience Requirements, Assessment of Professional Competence and Continuing Professional Education and Development. The last-named of these is also the subject of a new IFAC guideline. Comments are due December 31.

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.