- Colleges and universities are facing heightened scrutiny over governance practices in the wake of increasing regulatory oversight, economic uncertainty, high-profile scandals, and violent crimes.
- The 2014 Digital Accountability & Transparency Act (DATA Act) is creating government-wide standards for financial data, and expanding what data needs to be published on usaspending.gov.
- The North American Electric Reliability Corporation (NERC) regional entity audit teams will be implementing a risk based audit program - the Reliability Assurance Initiative (RIA) in 2015.
- With the proliferation of nonprofit organizations comes the need for more individuals willing to step into the important role of a board director. A board director serves to shepherd the organization to long-term sustainability. The board director role carries risk if individuals are not aware of their obligations related to the issues and concerns that the Internal Revenue Service (IRS) has attempted to address in the newly designed information reporting form, the Form 990.
- In June 2014, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued an addendum to the “Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure”.
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