Government


GOVERNMENT
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 http://csrc.nist.gov/pcig/document/
Common-Risks-Impeding-Adequate-Protection-Govt-Info.pdf
. The Identity Theft Task Force Strategic Plan is available at www.idtheft.gov/reports/StrategicPlan.pdf .

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 www.fasab.gov/exposure.html 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.

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.