FYI


The AICPA elects former four-term Iowa Governor Terry Branstad one of the three public, or non-CPA, members of its board of directors. Recently, as chairman of President George W. Bush’s Commission on Excellence in Special Education, Branstad developed a plan to improve disabled students’ scholastic performance ( www.aicpa.org/download/news/2003_0527.pdf ). He is a financial adviser with Robert W. Baird & Co. of West Des Moines and a partner of Kaufman, Pattee, Branstad & Miller, a Washington, D.C., public policy and government relations firm.

The Financial Accounting Foundation (FAF) appointed George J. Batavick, CPA, to a five-year term as a member of the Financial Accounting Standards Board, effective August 1 ( www.fasb.org/news/nr071403.shtml ). Manuel H. Johnson, FAF chairman, cited his extensive experience in financial reporting. Batavick capped a 27-year career at a large public company (the former Texaco Inc.) by serving as comptroller from 1999 to 2002.

The staff of the Governmental Accounting Standards Board (GASB) releases a comprehensive implementation guide covering Statement nos. 3, 9, 10, 14, 25, 26, 27, 31 and 34. The board will issue such guides annually to revise and supplement information as new GASB pronouncements take effect. The guide is available from GASB at 800-748-0659.

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.