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AML and Compliance News

FATF report on virtual assets

FATF released red flag indicators to assist in preventing criminal, ML and terrorist financing activities associated with VAs.

  • Hu, Crystal
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Senior Living Health Care Connection

AICPA issues TQAs for entities

The AICPA has issued additional technical questions and answers for health care entities related to leasing and CARES Act provisions.


Tax Alert

Revised Form 941-X

The final version of Form 941-X Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund has been released by the IRS.

  • Field, Karen
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Monthly Market Commentary

Rally continued, but pace slowed

Sustained upside inflation risks remain low despite recent stimulus measures, but inflation dynamics are fluid.









Financial Reporting Insights

Amendments: Interest rate benchmark reform

The IASB’s recent amendments address the transition to alternative interest rate benchmarks as a result of benchmark reform.
















Financial Reporting Insights

Regulatory update for broker-dealers

Our summary highlights several regulations affecting broker-dealers that recently have been issued or updated.

  • Seitz, Kate
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Financial Reporting Insights

OMB issues 2020 Compliance Supplement

The OMB recently released the 2020 Compliance Supplement, which is effective for audits of years beginning after June 30, 2019.



































AML and Compliance News

COVID-19 regulatory compliance updates

In response to the COVID-19 pandemic, the CFPB and other regulatory agencies have issued various guidance to assist financial institutions.

  • De France, Julia
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Financial Reporting Insights

IASB issues amendments to IFRS 17

The International Accounting Standards Board recently released several amendments to IFRS 17, Insurance Contracts.





Tax Alert

Sixth Circuit limits research credit win

The Sixth Circuit held that the DOJ should have been permitted to provide evidence regarding a taxpayer’s historic R&D credit information.

  • Click, David
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Financial Reporting Insights

TQA: Borrower accounting for PPP loans

The AICPA recently released guidance regarding the accounting for a loan received under the Paycheck Protection Program.


















Financial Reporting Insights

Audits involving cryptoassets

The PCAOB recently published information for auditors and audit committees regarding audits involving cryptoassets.















Tax Alert

IRS operations status update

IRS issues new release detailing limited resumption of certain operations and advising taxpayers on alternatives for inoperative functions.

  • Stone, Evan
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Financial Reporting Insights

GASB issues implementation guidance

The GASB recently issued Implementation Guide No. 2020-1, which clarifies, explains or elaborates on recent GASB Statements.




















































































Financial Reporting Insights

IFRS 9 and COVID-19

Recently, the IASB issued guidance regarding the accounting for expected credit losses in light of the COVID-19 pandemic.














Tax Alert

CARES Act becomes law

Act contains broad relief for individuals and businesses; includes funding vehicles, recovery payments, and modifications to TCJA provisions

  • Mitchell, Alexandra
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Tax Alert

The CARES Act passes

Today, the House of Representatives passed the CARES Act on a voice vote and the President signed the bill enacting it into law.

  • Wood, Christian
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Weekly Market Commentary

What has happened in municipal bond markets

While volatility remains, we think the actions of the Fed and policymakers will eventually help to stabilize markets and restore liquidity.

  • Lamoutte, Keith
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Financial Reporting Insights

Lease accounting resource center

RSM’s Lease Accounting Resource Center provides high-level and detailed information about implementing ASC 842.







Financial Reporting Insights