The SEC, the United Kingdom Financial Services Authority (FSA) and the United Kingdom Financial Reporting Council (FRC) signed a protocol for implementing the work plan between the SEC and the Committee of European Securities Regulators to share information on application of International Financial Reporting Standards (IFRS) by issuers listed in the United Kingdom and the United States. A copy of the protocol is available at

The SEC and the German Federal Financial Supervisory Authority (BaFin) signed a comprehensive arrangement to facilitate their supervision of internationally active firms and their oversight of markets. At a meeting in Berlin, SEC Chairman Christopher Cox and BaFin President Jochen Sanio executed a memorandum of understanding (MOU) that provides clear mechanisms for consultation, cooperation and exchanges of information between their agencies. The MOU sets forth the terms and conditions for the sharing of information about regulated entities and financial groups that operate in the United States and Germany and, in view of the growing trend toward cross-border exchange affiliations, outlines a framework for cooperation in the oversight of markets in both countries. To view the MOU, visit

The International Accounting Standards Board (IASB) published a preliminary views document on accounting for insurance contracts. Comments, which are due by Nov. 16, will aid the IASB in developing firm proposals for an exposure draft to be published in late 2008. The IASB expects the new standard to take effect in 2010. To view the document, visit



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.