The SEC launched a Web page that
enables investors to more easily read, analyze and
compare the information provided by mutual funds
related to fund cost, risk and past performance.
The Mutual Fund Reader follows on the SEC’s new
rules that permit mutual funds to voluntarily
provide information to the SEC and investors using
interactive data. The SEC approved rule amendments
in June 2007 to enable mutual funds to submit
risk/return summary information from their
prospectuses using interactive data. Interactive
data uses XBRL, a computer language that labels
companies’ financial and other data so that
investors and analysts can more easily find what
they’re looking for, and use the information for
comparisons and analysis. To try the new viewer,
The International Accounting
Standards Committee (IASC) Foundation’s XBRL Team
released a near-final version of its IFRS
Taxonomy 2008 at the end of March. The
IFRS Taxonomy 2008 is a complete
translation of International Financial Reporting
Standards (IFRS) as published in the IFRS
Bound Volume 2008 into XBRL. The final
version is expected to be released at the end of
June 2008 and will also be freely available,
according to an IASC Foundation news release. For
more information, visit www.iasb.org .
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.
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.