The International Accounting Standards Board (IASB) amended International Accounting Standard 21, The Effects of Changes in Foreign Exchange Rates, to clarify its requirements and to resolve certain implementation concerns. The IASB also published a discussion paper, Measurement Bases for Financial Accounting—Measurement on Initial Recognition, that was prepared by the staff of the Canadian Accounting Standards Board. Comments on the paper are due May 19, 2006 ( ).

The International Federation of Accountants (IFAC) released guidance, Establishing and Developing a Professional Accountancy Body, to help governments and others in emerging economies strengthen their national accounting professions. The guidance is available at . In addition IFAC’s International Auditing and Assurance Standards Board issued an exposure draft (ED) of International Standard on Auditing 550 (revised), Related Parties , that proposes enhanced requirements for auditors to consider when auditing related party relationships and transactions. Comments on the ED are due April 30, 2006 ( ).


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.