Deloitte Regulatory and Legislative Reform

Nanotechnology in food : Emerging issues and potential uses

Tue, 21 May 2013 17:05:51 +0530

What is nanotechnology? What comes to mind when you think about nanotechnology? As a food manufacturer, would you be willing to use nanotechnology to make your food? The potential benefits of using nanotechnology are vast and far-reaching, but potential issues and unknowns still remain.

I’ll have a PB&J sandwich, hold the S please

Mon, 8 Apr 2013 18:02:17 +0530

Working in the food industry, it’s hard to miss the numerous peanut butter outbreaks and recalls that have happened over the past few years. Many were caused by Salmonella contamination.

And, when I take a closer look, it’s not just peanut butter in my sandwich. There have been many significant Salmonella outbreaks and recalls associated with low moisture ready-to-eat (RTE) foods, including: chocolate, powdered infant formula, raw almonds, toasted oats breakfast cereal and dry seasonings, to name a few.

Health care reform memo

Thu, 7 Mar 2013 15:16:24 +0530

Explore this week's health care summary, highlighting news from the previous week’s activities in the administration and implications for the c-suite and various stakeholder groups.

Deloitte Center for the Global Food Value Chain debuts

Mon, 11 Feb 2013 16:06:57 +0530

The Deloitte Center for the Global Food Value Chain (the Center), a source of insights and analysis designed to help companies in the food and beverage business understand the changing regulatory environment, reduce risk and address supply chain issues, recently debuted and issued a series of research papers to help companies comprehend and comply with the Food Safety Modernization Act (FSMA), signed into law in January 2011.

The road ahead: Thoughts on the recently released final FATCA regulations

Mon, 11 Feb 2013 16:00:59 +0530

On Thursday, January 17, 2013, the Treasury and IRS released the final regulations for the Foreign Account Tax Compliance Act (FATCA). Originally codified as part of the Hiring Incentives to Restore Employment Act of 2010, these final regulations culminate a series of interim guidance issued by the Treasury Department and IRS.

View highlights of several important takeaways from the final regulations, as well as Deloitte’s point of view on these rules.

FATCA webcast: Final regulations on Foreign Account Tax Compliance Act (FATCA)

Mon, 11 Feb 2013 16:00:04 +0530

On January 17, 2013, the U.S. Treasury Department and the IRS released final regulations on FATCA. Beginning this month, FATCA requires U.S. taxpayers with specified foreign financial assets, as well as foreign financial institutions, to identify and report on their U.S. account holders annually. What do the final regulations entail?

New FCPA resource guide: Ten things for legal and compliance officers to consider

Wed, 6 Feb 2013 18:29:54 +0530

Is the new FCPA Resource Guide from the U.S. Department of Justice and U.S. Securities and Exchange Commission really new or just a compilation of existing material? This article identifies 10 key takeaways from the guide that may help legal and compliance officers obtain executive support and drive continued, appropriate enhancements to their FCPA/anti-corruption compliance programs.

Swerving from the cliff: Tax provisions in the American Taxpayer Relief Act of 2012 introduce

Tue, 15 Jan 2013 15:35:34 +0530

This report from Deloitte Tax LLP examines the tax provisions in the new law and considers the tax policy challenges facing Congress and the Obama administration in the year ahead.

Five questions on the possibility of corporate tax reform - and the risks it could introduce

Tue, 15 Jan 2013 15:34:36 +0530

Debating the future of tax policy is not uncommon during a presidential election year. But recently, the tone of the national conversation about tax reform has subtly shifted. Many observers believe that support for corporate tax reform that results in a lower statutory rate while potentially modifying or even eliminating certain tax expenditures is beginning to grow, and passage of such a package may become reality in the next year or two. Any shift in the tax code introduces new risks that must be managed. But more sweeping changes could present more fundamental risks.

Deloitte and Decernis announce strategic alliance

Thu, 3 Jan 2013 21:17:46 +0530

Deloitte and Decernis LLC, a leader in global compliance management systems for global product safety, announced an alliance to provide solutions to consumer product, food service, retail and distribution companies. Specifically, the alliance combines Deloitte’s food safety, quality and supply chain experience and the software platform and content provided by Decernis for tracking and alerting consumer businesses about compliance issues.

International Tax Review - energy guide

Wed, 7 Nov 2012 15:49:13 +0530

International Tax Review published its third energy industry guide, in association with Deloitte, analyzing the tax and transfer pricing implications for taxpayers operating across the oil and gas sector.

The guide offers an insight into the sector and provides readers with a non-technical background with the latest information on how energy companies are taking advantage of nontraditional energy sources and updating techniques used for decades.

Health care industry megatrends

Thu, 1 Nov 2012 14:38:10 +0530

Learn more about the seven widely used megatrends affecting the health care industry. These mega trends require the health care industry to look around the corner and confront the "new normal."

The 2013 Essential Tax and Wealth Planning Guide

Thu, 1 Nov 2012 14:36:54 +0530

As we face 2013, the uncertainty of our tax and legislative environment is coming to a head - we’re again facing possible tax rate changes along with the expected sunset of favorable wealth transfer policies on January 1. The 2013 Essential Tax and Wealth Planning Guide discusses opportunities available through the final few months of 2012 and the planning environment beyond, as policy makers continue a tax reform debate that could fundamentally change how individual taxpayers compute their taxes.

Tax information reporting: The growing need for compliance technology

Tue, 18 Sep 2012 18:40:55 +0530

The Internal Revenue Service (IRS) is expanding information reporting and withholding requirements, including an increased focus on U.S. source income for foreign persons - now a Tier 1 tax examination issue. How can technology support the increasingly complex compliance process?

This report discusses the evolving tax information and reporting landscape, current compliance environment and common compliance issues. It also shares practical tips for addressing these issues and reviews processes and technologies that exist to help manage compliance.

Heads Up: SEC issues final rule on conflict minerals

Tue, 18 Sep 2012 17:41:18 +0530

This Heads Up discusses certain key provisions of the SEC’s recently issued final rule Conflict Minerals, which implements Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In addition, it includes appendixes containing the following:

(1) a summary of the differences between the proposed rule and final rule,
(2) a flowchart for determining the reporting and disclosure requirements related to conflict minerals,
(3) information about leading industry and nongovernmental organization initiatives and
(4) information about key legislative and other initiatives.

Health care reform: Center stage 2012

Mon, 6 Aug 2012 19:35:26 +0530

Health care reform is center stage in 2012 -prominent in the public consciousness, thanks to constant political and legislative skirmishes over the future of the Affordable Care Act (ACA). Because of the health care industry’s dynamic and complex nature, the opinions of citizens and key constituents upon which policy is built should be regularly monitored. Their views of the health care system and health care reform are critically important to guide and inform the policy makers who oversee its functions.

For that reason, Deloitte has surveyed thousands of Americans over the last year - consumers, physicians and employers - about their opinions of health care reform. The resulting report brings together unique, data-driven insights on these stakeholders’ perspectives, gathered through three research studies conducted by the Deloitte Center for Health Solutions: the "2012 survey of health care consumers in the United States," "Physician perspectives about health care reform and the future of medicine"(2011) and the "Deloitte employer survey" (2012). Occasional data are also drawn from the "2011 survey of health care consumers in the United States."

Still standing: Planning for the high-wealth tax increases ahead

Mon, 6 Aug 2012 19:32:38 +0530

The Supreme Court’s decision to uphold the Patient Protection and Affordable Care Act of 2010 means that two new tax increases in the health care reform law targeting earned and unearned income of certain wealthier individuals will take effect as scheduled in 2013.

This report examines these provisions and discusses practical steps taxpayers can take now to evaluate their tax positions for 2013 and prepare for the impact of these impending tax hikes.

A look around the corner

Mon, 9 Jul 2012 16:51:20 +0530

Health system CEOs and their organizations face challenges that are at once unprecedented, predictable and unknown - a "new normal" that represents the biggest test thus far in their professional careers.

As corruption concerns rise, few fear UK Bribery Act: Deloitte poll

Mon, 9 Jul 2012 16:50:27 +0530

U.S. regulators increase Foreign Corrupt Practices Act cases brought against individuals.

Anticipate to accelerate

Fri, 22 Jun 2012 22:51:08 +0530

To pursue opportunities presented by reform, companies must consider the impact of change before it actually hits them. That kind of foresight positions companies to adapt internally and get ahead of reform - and the competition. Explore our latest insights on Dodd-Frank, health care reform and more.

Deloitte Shadow Banking Index Debuts: ‘Only’ $9.53 Trillion in Size at End of 2011

Wed, 30 May 2012 16:28:31 +0530

New quarterly index tracks changes in shadow banking; regulatory changes and new innovations anticipated to be big drivers of future fluctuation..

The shadow banking system in the United States might not be as large today as regulators and market participants feared, according to a new quarterly index introduced today by the Deloitte Center for Financial Services.

FDA’s "Retail Food Safety Action Plan": Impact on foodservice operations

Thu, 12 Apr 2012 22:32:28 +0530

With the signing of the Food Safety Modernization Act and the release of two key "report cards" on the causes of food borne illness and related prevention activities, the FDA has taken a very visible stand on food safety in the retail and foodservice sectors. The public release of the Retail Food Safety Action Plan clearly emphasizes the FDA is alert to the retail and food service sectors, and is taking proactive action to partner with the other regulatory agencies, and the industry, to affect measurable change

Introducing the Center for Regulatory Strategies

Thu, 15 Mar 2012 16:13:36 +0530

Businesses across most every industry face a wave of new regulation. In some cases the changes are so extensive that they may challenge the viability of some business models.

Deloitte’s Center for Regulatory Strategies is a powerful resource of information and insight on regulatory matters, including industry and regulatory specialists with expertise to help companies manage the complexity and convergence of rapidly increasing new regulation. The Center combines the strength of Deloitte’s nationwide network of experienced risk, regulatory and industry professionals, including a deep roster of former regulators, industry specialists and business advisors with a rich understanding of how multiple and converging regulations affect business.

IFRS being adopted in the United States

Thu, 15 Mar 2012 16:06:02 +0530

Watch the video to hear International Accounting Standards Board Chairman Hans Hoogervorst’s thoughts on International Financial Reporting Standards (IFRS) being adopted in the United States.

2011 IFRS Summit Center

Thu, 15 Mar 2012 15:54:26 +0530

Deloitte's online IFRS Summit Center features commentary and perspectives from International Accounting Standards Board (IASB) Chairman Hans Hoogervorst and U.S. Financial Accounting Standards Board (FASB) Chairman Leslie Seidman, who were the keynote speakers at Deloitte’s fourth annual summit.

Paving the path to compliance, opportunity

Thu, 15 Mar 2012 15:53:17 +0530

Explore our latest resources on regulatory and legislative reform.

IFRS Insights: Offsetting disclosure requirements, "three-bucket" impairment model, AICPA conference

Mon, 12 Mar 2012 18:41:58 +0530

IFRS Insights is a newsletter on International Financial Reporting Standards (IFRS) for chief financial officers (CFOs) and financial professionals of U.S. companies. This edition covers a spectrum of key issues related to IFRS, including:

The new offsetting disclosure requirements issued by the U.S. Financial Accounting Standards Board and International Accounting Standards Board
The "three-bucket" impairment model
Highlights from the 2011 AICPA National Conference on Current SEC and PCAOB Developments
Two upcoming classroom training opportunities that address the practical and strategic implications of IFRS
IFRS e-learning opportunities

The compliance opportunity

Thu, 1 Mar 2012 14:56:10 +0530

Gain a better understanding of cap-and-trade legislation and explore various strategic options for addressing it.

Six takeaways from proposed FATCA rules issued by the U.S. Treasury Department and IRS

Thu, 1 Mar 2012 14:55:16 +0530

The U.S. Treasury Department and IRS recently released nearly 400 pages of proposed regulations that detail their plans to implement FATCA. Here are six essential points to consider.

FATCA: A path forward

Thu, 1 Mar 2012 14:54:32 +0530

Take a deeper look into the potential implications proposed FATCA guidance may have on financial institutions, and the strategies and policies they can employ to efficiently achieve compliance.

CFO Signals: 2011 Q4 results

Fri, 27 Jan 2012 15:23:44 +0530

CFO concerns about the impacts of government policy (especially tax policy and detrimental regulatory changes) continued this quarter, but worries over domestic and foreign economies were more pressing overall.

Risk Intelligence: Focus on risk committees

Thu, 19 Jan 2012 19:14:03 +0530

Even outside the financial services industry - where risk committees will become more prevalent with the Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as the Federal Reserve’s notice of proposed rulemaking (NPR) on enhanced prudential supervision - many large companies are starting to explore how a board risk committee might help them navigate the broadening array of risks in today’s uncertain economic and regulatory environment. Explore our latest resources to learn more.

Be nimble, be quick: Organizational, financial and operational performance

Thu, 22 Dec 2011 20:57:02 +0530

To prepare for and take advantage of the rapidly changing marketplace, businesses need to be nimble. Staying on top of technology, global and regulatory trends could mean the difference between improving organizational, financial and operational performance or letting it slip. Explore our latest resources to learn more.

Regulatory & legislative reform: Anticipate tomorrow’s complex issues

Mon, 12 Dec 2011 18:05:47 +0530

Explore our latest resources on tax reform, health care reform, the Volcker Rule, the Foreign Account Tax Compliance Act (FATCA) and International Financial Reporting Standards (IFRS).

ACO Medicare Shared Savings Program final rule

Mon, 14 Nov 2011 22:02:51 +0530

CMS released the final rule for its Medicare Shared Savings Program for Accountable Care Organizations. Deloitte reviews the rule’s key takeaways, provides estimated program savings and lists stakeholder implications.

FASB's new qualitative goodwill impairment assessment

Mon, 14 Nov 2011 22:00:13 +0530

Complying with the requirement for annual goodwill impairment testing can be time-consuming and expensive for companies. Preparers of private companies' financial statements have been striving for a less costly and complex solution.

Career - CFO Signals: 2011 Q3

Thu, 20 Oct 2011 16:33:54 +0530

Deloitte's 2011 Q3 CFO Signals survey reveals the top three CFO job stresses of North America's CFOs: major change initiatives, strategic ambiguity and changing regulatory requirements.

Accounting for Income Taxes Quarterly Hot Topics: September 2011 issue

Mon, 3 Oct 2011 20:32:58 +0530

Accounting for Income Taxes Quarterly Hot Topics highlights recent tax and accounting developments that may have accounting for income tax (ASC 740) implications. This edition includes lease accounting updates, guidance issued on the application of the economic substance doctrine, Schedule UTP recent guidance and more.

Tax rate outlook for high-income individuals

Mon, 3 Oct 2011 20:31:59 +0530

Analyzing the prospects of Congress changing tax rates on earned income and income from capital gains and qualified dividends, particularly as they apply to more affluent individuals.

Board relations: Have risk disclosure practices improved?

Mon, 3 Oct 2011 20:29:45 +0530

Since February 28, 2010, companies have been required by the Securities and Exchange Committee (SEC) to disclose the role of their board in risk oversight. Done well, risk disclosures can identify how CFOs are fulfilling their obligations to the board in their roles as stewards. Read "Board relations: Have risk disclosure practices improved?" to understand how risk management has climbed to the forefront of many CFO agendas.

Anti-corruption practices survey 2011

Thu, 22 Sep 2011 15:39:34 +0530

The Deloitte Forensic Center conducted a survey to assess how companies are managing their efforts to prevent corrupt practices in their operations around the world and ensure compliance with legislative requirements.

The public view of health care reform

Thu, 22 Sep 2011 15:38:40 +0530

The Health Care Issue Brief uses results from the 2011 Survey of Health Care Consumers in the United States to examine consumers’ expectations of aspects regarding health care reform.

Spread the sunshine beyond compliance

Fri, 9 Sep 2011 18:25:12 +0530

Life sciences companies are challenging conventional views about their Healthcare Professional (HCP) Aggregate Spend data, and are using the data to drive decision-making and competitive advantage in the marketplace.

In the right light, reform reveals opportunity

Mon, 5 Sep 2011 15:36:36 +0530

Explore our latest regulatory and legislative insights on the Dodd-Frank Act, health care reform and more.

Cost recovery strategies in the "new normal"

Mon, 5 Sep 2011 15:35:14 +0530

As the budget debate continues, federal agencies face the challenge of finding new ways to serve their mission and their constituents with reduced funding and growing uncertainty over the coming fiscal years. How does the government accomplish this mission?

Exploring the safe harbor in health care reform

Fri, 5 Aug 2011 20:53:57 +0530

Health care is changing on many fronts, from clinical science to information technology to Medicare and FDA transformation to the very way doctors, hospitals, insurers and patients interact. Every employer is impacted, and the issue goes well beyond the compliance aspect of reform that garnered so much attention last year.

Of Roman gods and financial reform: Janus and the Dodd-Frank Act

Thu, 4 Aug 2011 15:40:24 +0530

In this paper we use the Janus principle, we look back at financial reform over the last year and forward into the future from three different perspectives.

Understanding your FBAR reporting requirements

Thu, 2 Jun 2011 15:26:23 +0530

Organizations with financial interest in foreign accounts are required to file an annual Report of Foreign Bank and Financial Accounts (FBAR). This article explains what the final rules are, who’s required to file and what actions filers should be taking now to ensure they are in compliance.

Should Health Care Revolve Around Hospitals or Accountable Care?

Fri, 1 Apr 2011 17:38:39 +0530

New options for physician alignment and care delivery – such as Accountable Care Organizations – offer the prospect of more efficiency, better outcomes and higher revenues. But they carry new costs as well – and could upset traditional roles.

Whistleblowing After Dodd-Frank: New Risks, New Responses

Wed, 2 Mar 2011 21:03:45 +0000

The Dodd-Frank legislation is expected to boost whistleblower activities & the number of fraud accusations a company confronts & investigates. As this threatens to drive compliance costs up, CFOs may wish to consider the potential budgetary impact.

Notice of Coverage Options

Thu, 24 Feb 2011 21:03:45 +0000

Employers will be required to give employees a written notice of the existence of State Health Insurance Exchanges. Learn more about this provision and its implications.

Regulatory & Legislative Reform

Wed, 16 Feb 2011 21:03:45 +0000

See regulatory issues before they’re on top of you. Explore our latest resources.

Foreign Account Tax Compliance Act (FATCA) Resource Library

Wed, 16 Feb 2011 21:03:45 +0000

FATCA will affect more than financial institutions. Deloitte's FATCA Resource Library provides insights and relevant information on the impact of FATCA.

IFRS Insights: Hedge Accounting, Change Management Strategy and R & D

Wed, 16 Feb 2011 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about the changes ahead for hedge accounting, the importance of a change management strategy for your IFRS conversion, the impact of IFRS convergence on research and development costs, and more.

Will IFRS Trip Up Your Debt Covenants?

Wed, 16 Feb 2011 21:03:45 +0000

Proactive CFOs have an opportunity to capitalize on the upside to converging global accounting standards.

IFRS Insights: Updates on Leasing, Insurance Contracts and Tax

Wed, 2 Feb 2011 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about the changes ahead for lease accounting, the exposure draft for insurance contracts, why tax analysis can’t wait for the Securities and Exchange Commission (SEC) and more.

CFO Signals: 2010 Q4 Results

Thu, 27 Jan 2011 21:03:45 +0000

Remarkable uncertainty around the state of the economy, unemployment and government policy drives difficult and uneven interpretations of what the future holds.

IFRS: Are Your ERP Systems Ready?

Wed, 19 Jan 2011 21:03:45 +0000

Recent versions of major ERP systems have been designed to incorporate IFRS. A finance transformation project conducted in conjunction with an IFRS assessment that effectively maps IFRS-related changes can yield efficiencies for both initiatives.

IFRS: Select Tax Considerations

Thu, 6 Jan 2011 21:03:45 +0000

A preliminary assessment of the statutory landscape and potential tax implications can help CFOs prioritize which jurisdictions require the most focus from a treasury perspective and those that require a deeper analysis from a cash tax perspective.

Foreign Account Tax Compliance Act (FATCA) Resource Library

Thu, 2 Dec 2010 21:03:45 +0000

This collection of Deloitte materials and resources on Foreign Account Tax Compliance Act (FATCA) explores many aspects of this evolving issue.

One Step Closer to IFRS?

Thu, 4 Nov 2010 21:03:45 +0000

SEC issues first progress report on its efforts and observations to date under its “Work Plan.” The Work Plan addresses specific areas of concern related to the incorporation of IFRS into the U.S. financial reporting system.

An Update for Boards and Audit Committees

Thu, 4 Nov 2010 21:03:45 +0000

This publication helps boards and audit committees stay abreast of the latest IFRS developments and understand potential implications.

Regulatory & Legislative Reform: A Library of Resources

Thu, 4 Nov 2010 21:03:45 +0000

IFRS Insights: Cutting Costs and Improving Transparency

Thu, 28 Oct 2010 21:03:45 +0000

The latest IFRS Insights newsletter includes articles about cutting costs and improving transparency, lease accounting, accounting for property, plant and equipment, and building an IFRS internal training program.

Opt-out Provision Changes for Self-insured State and Local Gov Plans

Thu, 28 Oct 2010 21:03:45 +0000

Self-insured state and local gov group health plans, including grandfathered health plans, will no longer be able to opt-out of certain HIPAA requirements. Learn about the provisions subject to opt-out changes and the implications for employers.

Health Savings Account Reimbursements: Smart First Steps

Tue, 12 Oct 2010 21:03:45 +0000

Learn about provisions for distributions from Health Savings Accounts (HSAs) to pay for a medicine or drug as qualified medical expenses, and the key implications for employers.

Tax Provisions in the Small Business Jobs Act

Thu, 30 Sep 2010 21:03:45 +0000

On September 27, Congress approved and the president has signed legislation that provides an additional year of bonus depreciation for businesses of all sizes, as well as enhanced section 179 expensing rules and other investment incentives.

Implications of Health Care Reform for Businesses in America