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But the I.R.S. commissioner, Douglas H. Shulman, said tax preparers would be held to higher standards as the agency stepped up its oversight to help reduce fraud and errors.
Recall how the Panama Papers showed that lawyers could exploit gaps in how business entities can be created, with virtually no oversight, to help move money across the globe anonymously.
"Set alongside our plans for the appointment of a Chief Inspector of Social Care and Support, tougher registration requirements on social care providers and the introduction of a new ratings system, these new measures will strengthen our oversight to help ensure that risks to people's care are identified and acted upon as early as possible".
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Together with our partners, we are reviewing approval and oversight processes to help ensure nothing like this ever happens again".
Moving forward, I hope the commission will have the balance and the oversight needed to help restore stability to our markets".
A year on, and one legacy of the financial overhaul is a near insurmountable workload for regulators, who are being forced to move some employees from enforcement and oversight positions to help write the rules it requires.
Two of the Big Five accounting firms have announced plans to let outsiders join their boards: PricewaterhouseCoopers will add three outside directors to its board, and Arthur Andersen, auditor of Enron, has created a special oversight board to help it change its policies.
Republicans this week are likely to unveil a third draft of legislation that would give Puerto Rico powers to restructure its debt, establish an oversight board to help the island's government, and craft a broader Puerto Rico economic reform plan.
The House Natural Resources Committee approved the bill, which would establish an oversight board to help the commonwealth restructure its un-payable debt and craft an economic recovery plan, in a 29-10 vote.
Mr. Jeffries said he had also been working with Representative Edolphus Towns, chairman of the Oversight and Government Reform Committee, to help pressure banks that received federal money to work with the state to release developers from troubled mortgages.
But some school officials also said they were not getting adequate support from the state, whose five-member oversight panel, appointed to help manage the district, has dwindled to two active members, one of whom is expected to resign in September.
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CEO of Professional Science Editing for Scientists @ prosciediting.com