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The new 5G network is getting a lot of play in the press. The next generation of 5G networks will be 100 times faster than the current 4G networks. 5G networks do not have the latency issues of 4G networks and allow for a large amount of connections. The flexibility of this new technology has given many the hope that it can further support the Fourth Industrial Revolution. 

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Manufacturing has been through three industrial revolutions from the use of water and steam to electricity to automation. The next revolution involves connecting existing machines to one network. Appropriately, it has been dubbed the Fourth Industrial Revolution. 

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We welcome two full member firms to the global accountancy network UHY, extending our coverage within the Middle East region: United For Auditing, Tax, Advisory & Financial Services, and in Alexandria, Waled Mounir and Muhammad Arafa. The firms are in the process of adopting the UHY branding and will soon be known as UHY United For Auditing, Tax, Advisory & Financial Services and UHY Waled Mounir and Muhammad Arafa respectively.

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In May, the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) issued Statement on Auditing Standards No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements (SAS 134).

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Beginning with fiscal years ending on or after June 30, 2019, large accelerated filers will be required to disclose critical audit matters (CAMs) in the auditor's report.

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In the May 2019 Patch Tuesday release, Microsoft disclosed a remote code execution vulnerability (CVE-2019-0708) exists in Remote Desktop Protocol (RDP) – formerly known as Terminal Services. The cyber industry has named this vulnerability BlueKeep.

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We welcome, MA Audit LLC, our new full member firm in Azerbaijan, together with its affiliate, MA Consulting LLC to the global accountancy network UHY, extending our coverage within the Eurasia region. The firms are in the process of adopting the UHY branding and will soon be known as UHY AUDIT LLC and UHY LLC.

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On June 14 the Internal Revenue Service (IRS) released the Final and Proposed Regulations

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Mexico’s promise of tougher immigration enforcement has appeased President Trump enough to back down

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Norman Comstock, managing director, discusses cybersecurity with Accounting Today in their recent article titled, “A Cyber Attack Only Takes Three Seconds.”

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