Auditing


The SEC defers until January 1, 2005, a requirement that auditors of nonpublic broker-dealers register with the Public Company Accounting Oversight Board (PCAOB) ( www.sec.gov/rules/other/34-48281.htm ). The Sarbanes-Oxley Act of 2002 required auditors of financial statements of public companies or “issuers,” as defined in the act, to register by October 22 but did not establish a deadline by which auditors of broker-dealers that do not issue securities must register. While the deferral could end earlier if, in the interim, the SEC issues rules that say so, it now permits privately held broker-dealers to file annually with the commission and send their customers a balance sheet certified by an independent public accountant not registered with the board. Meanwhile the commission is assessing the applicability of registration requirements and procedures to nonpublic broker-dealers.

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.