Compliance Monitor

---

name: compliance-monitor version: 1.0.0 description: > Regulatory change tracking, filing deadline management, audit prep checklists, and compliance calendar maintenance for accounting and finance firms. Use when you need to track IRS/state deadlines, monitor regulatory updates (GAAP, FASB, IRS, state tax), prepare audit checklists, or manage client compliance calendars. NOT for legal advice, securities compliance (SEC/FINRA), or tax preparation itself — use a tax specialist for actual filing work. metadata: openclaw: tags: [finance, compliance, accounting, regulatory, audit, deadlines] author: PrecisionLedger channel: any

---

Compliance Monitor Skill

Regulatory tracking, deadline management, and audit prep for accounting and finance firms.

When to Use

Tracking federal and state tax filing deadlines for clients

Monitoring GAAP/FASB/IRS regulatory changes that affect client engagements

Generating audit preparation checklists

Managing compliance calendars and sending deadline reminders

Flagging upcoming obligations across a client portfolio

When NOT to Use

Actual tax preparation or filing — use a tax professional and licensed software

Securities/investment compliance (SEC, FINRA, CFTC) — out of scope

Legal advice — always escalate to counsel

Real-time regulatory databases — this skill uses web search + known sources; always verify with primary sources

International compliance outside US federal/state — limited coverage

---

Core Capabilities

1. Filing Deadline Tracking

Track key IRS and common state filing deadlines:

Key Federal Deadlines (Tax Year 2025):
Jan 15: Q4 estimated tax payment (Form 1040-ES)
Jan 31: W-2 / 1099-NEC / 1099-MISC employer filing
Feb 28: Paper 1099 information returns to IRS
Mar 17: S-Corp / Partnership returns (1120-S, 1065) — or 6-month extension
Apr 15: Individual (1040), C-Corp (1120), FBAR (FinCEN 114), Gift Tax (709)
Apr 15: Q1 estimated tax payment
Jun 16: Q2 estimated tax payment
Sep 15: Q3 estimated tax payment; extended S-Corp/Partnership returns
Oct 15: Extended individual and C-Corp returns
Dec 31: Year-end planning cutoff (retirement contributions, charitable gifts, etc.)

To look up a specific deadline or extension: 1. Use web_search with query: "[form number] [tax year] due date IRS" or "[state] [entity type] filing deadline [year]" 2. Cross-reference with IRS.gov Tax Calendar: https://www.irs.gov/businesses/small-businesses-self-employed/online-tax-calendar

2. Regulatory Change Monitoring

Monitor for updates from key sources:

Federal Sources:

IRS Newsroom: https://www.irs.gov/newsroom

FASB Standards Updates (ASUs): https://www.fasb.org/page/PageContent?pageId=/standards/accounting-standards-updates.html

AICPA Standards: https://www.aicpa-cima.com/resources/landing/professional-standards

Federal Register (tax regs): https://www.federalregister.gov/agencies/internal-revenue-service

Search Pattern:

web_search: "IRS [topic] [year] update" OR "FASB ASU [year] [topic]" OR "GAAP change [year] [industry]"

What to watch for:

New or revised tax forms

Rate/threshold changes (standard deduction, contribution limits, depreciation tables)

New reporting requirements (e.g., 1099-K threshold changes, digital asset reporting)

FASB ASUs affecting client financials (revenue recognition, lease accounting, credit losses)

State conformity with federal changes

3. Audit Preparation Checklists

#### Financial Statement Audit Checklist

Pre-Audit (60-90 days before fieldwork):

[ ] Confirm audit scope and materiality thresholds with engagement partner

[ ] Update permanent file: entity structure, key contracts, related parties

[ ] Request client PBC (Provided By Client) document list

[ ] Confirm trial balance tie to prior year audited financials

[ ] Identify significant accounting estimates (impairment, reserves, fair value)

[ ] Update risk assessment — new systems, transactions, personnel changes

PBC Document Request List (standard):

[ ] General ledger (full year)

[ ] Bank statements and reconciliations (all accounts)

[ ] AR aging schedule and subledger

[ ] AP aging schedule and subledger

[ ] Fixed asset register with additions/disposals

[ ] Debt agreements, schedules, and confirmation responses

[ ] Lease agreements (ASC 842 schedules)

[ ] Payroll records and tax filings (941s, W-3)

[ ] Entity formation docs, minutes, and resolutions

[ ] Related party transaction schedule

[ ] Significant contracts entered/modified during year

[ ] Insurance policies and certificates

[ ] Prior year audit report and management letter

Fieldwork:

[ ] Confirm cash — bank confirmations sent and returned

[ ] Test AR — confirmations, subsequent receipts

[ ] Test AP — search for unrecorded liabilities, subsequent disbursements

[ ] Inventory count observation (if applicable)

[ ] Test journal entries for unusual/late entries

[ ] Analytical procedures — fluctuation analysis vs. prior year and budget

[ ] Evaluate going concern indicators

Wrap-Up:

[ ] Subsequent events review (S-1 and S-2 events)

[ ] Representation letter obtained

[ ] Contingencies and commitments confirmed

[ ] Disclosure checklist completed

[ ] Final quality review

#### IRS Audit Response Checklist

[ ] Identify audit type: correspondence, office, or field

[ ] Note response deadline (typically 30-60 days from notice date)

[ ] Pull all documents related to questioned items

[ ] Prepare organized binder: chronological, tabbed by issue

[ ] Draft response letter — factual, concise, no volunteering

[ ] Identify potential penalties and abatement opportunities

[ ] Consider power of attorney (Form 2848) if CPA will represent

[ ] Document all communications with IRS (dates, contact names, reference numbers)

4. Compliance Calendar Generation

To generate a compliance calendar for a client, collect:

Entity type (individual, S-Corp, C-Corp, Partnership, LLC)

State(s) of filing

Fiscal year end

Special situations: payroll, sales tax, multi-state, nonprofit, foreign accounts

Then produce a month-by-month action list with:

Deadline date

Form/filing required

Responsible party (client vs. firm)

Status tracking (pending / in progress / filed)

Example output format:

CLIENT: Acme Corp (S-Corp, Texas, FYE Dec 31)
COMPLIANCE CALENDAR — 2026
JAN 31  → W-2s to employees; 1099-NECs to contractors
JAN 31  → File W-2s (W-3) and 1099-NECs with IRS
MAR 17  → Form 1120-S due (or file 7004 extension)
APR 15  → TX Franchise Tax Report due
APR 15  → Shareholder K-1s delivered
SEP 15  → 1120-S extended return due
DEC 31  → Year-end tax planning review

5. Regulatory Change Alert Workflow

When asked to monitor for regulatory changes on a topic:

1. Search for recent updates:

   web_search: "[topic] IRS 2026 update" 
   web_search: "FASB ASU 2025 2026 [topic]"
   web_search: "[state] tax law change 2026"
   

2. Summarize the change: what changed, effective date, who it affects, action required

3. Flag impact for known client types: - Individuals vs. businesses - Industry-specific (real estate, healthcare, manufacturing) - Size thresholds that trigger/exclude the rule

4. Recommend action: update workpapers, notify clients, revise checklists, or monitor further

---

Usage Examples

Example 1: Client Deadline Check

"What are all filing deadlines for our S-Corp clients in Q1 2026?" → Generate list: 1099s (Jan 31), W-2s (Jan 31), 1120-S (Mar 17) or extension, state variants

Example 2: Regulatory Alert

"Has the 1099-K threshold changed for 2025?" → web_search for IRS 1099-K 2025 threshold → summarize current rule, effective date, client impact

Example 3: Audit Prep

"We have a financial statement audit starting in 6 weeks. What do we need?" → Run through Pre-Audit checklist, generate PBC request list, identify risk areas

Example 4: Compliance Calendar

"Build a compliance calendar for a new C-Corp client in Illinois, FYE June 30" → Map fiscal year to federal Form 1120 deadlines, IL corporate income tax, plus any payroll/sales tax obligations

---

Key References

IRS Tax Calendar for Businesses: https://www.irs.gov/businesses/small-businesses-self-employed/online-tax-calendar

FASB Standards & ASUs: https://www.fasb.org

AICPA Practice Aids: https://www.aicpa-cima.com

State Tax Authority Directory: https://taxfoundation.org/state-tax-agencies/

FinCEN (FBAR, BSA): https://www.fincen.gov

---

Important Disclaimers

This skill provides compliance frameworks and checklists — not legal or tax advice. All deadlines should be verified against primary sources before relying on them. Tax law changes frequently; always confirm current rules with IRS.gov or a licensed tax professional before advising clients.