The International Accounting Standards Board (IASB) published three exposure drafts (EDs) in April ( ). Amendments to IAS 39 Financial Instruments: Recognition and Measurement—The Fair Value Option proposes restricting that valuation to financial assets and liabilities in any of five specific categories and with a verifiable fair value; comments are due July 21. Combinations by Contract Alone or Involving Mutual Entities proposes removing the scope exclusion in IFRS 3, Business Combinations, for situations that involve two or more mutual entities or in which—to form a reporting entity—separate organizations are brought together by contract alone without either obtaining an ownership interest. Amendments to IAS 19 Employee Benefits—Actuarial Gains and Losses, Group Plans and Disclosures proposes giving entities the option of showing pension deficits and surpluses in detail. Approval of the ED would enable companies already doing so—by recognizing the plan’s surplus or deficit as of the balance sheet date and providing the best estimate of the plan’s gains and costs in the income statements—to continue this practice. Comments on these two EDs are due July 31.

The International Financial Reporting Interpretations Committee (IFRIC) of the IASB issued a draft interpretation, D6 Multi-employer Plans, for employee benefit plans in which more than one employer participates ( ). The proposed guidance describes how defined benefit accounting should be applied to such plans. Comments are due July 9.


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.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


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.