The White House Office of Management and Budget (OMB) and the Department of Homeland Security (DHS) issued a paper on best practices for agencies to implement to improve security and privacy of their information systems to prevent identity theft. The guidance outlines the top 10 common mistakes for agencies to avoid in protecting personal information the government possesses. The paper includes recommendations from the President’s Identity Theft Task Force.

The OMB/DHS paper on best practices is available at
. The Identity Theft Task Force Strategic Plan is available at .

FASAB is soliciting input on its exposure draft Reporting Gains and Losses From Changes in Assumptions and Selecting Discount Rates and Valuation Dates. The ED proposes changes to enhance the information provided on the statement of net cost. This includes showing gains and losses from changes in assumptions as discrete line items to highlight the effects of changes in assumptions. Guidance is also proposed for selecting discount rates for liability measurement and codification of guidance on selecting valuation dates.

The ED is available at or by calling 202–512–7350. Comments are requested by Nov. 30.

Ohio Gov. Ted Strickland issued an executive order creating an audit committee responsible for increasing controls on state fiscal operations. The State of Ohio Audit Committee will be a division of the Office of Budget and Management and accountable for identifying and encouraging effective financial management, internal control and internal auditing practices in all components of Ohio’s government. The committee will submit a report annually to the governor and state auditor on its work. The report will include recommendations regarding the role of the committee.


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.