International


The European Commission adopts a regulation endorsing international accounting standards (IAS), including related interpretations, thereby requiring the approximately 7,000 European Union public companies to implement them beginning in 2005 ( www.iasb.org.uk ). The regulation includes all IASs and interpretations except those pertaining to the accounting and disclosure of financial instruments, which the International Accounting Standards Board is revising and will reissue by 2004.

The International Federation of Accountants releases an exposure draft of an international public sector accounting standard (IPSAS) on impairment of public sector assets, including those not held to generate cash ( www.ifac.org ). The ED complements IPSAS 17, Property, Plant and Equipment, and strengthens and enhances IFAC’s guidance on financial reporting of such assets. Comments are due January 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.