Weekly News Round Up: Congress Holds Hearing on IRS Abuse; IMF Debt Relief and Greece; and the Changing CFO Role
May 31, 2016
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how the House Ways and Means Oversight Subcommittee recently held a hearing on IRS abuse, and the IMF outlined its framework for helping Greece reduce its debt. In addition, a new law would require presidential candidates to disclose their tax returns, and we highlight the best bachelor’s program for accounting.
Congress Holds Hearings on IRS ‘Abuse’
The House Ways and Means Oversight Subcommittee recently held a hearing on “protecting small businesses from IRS abuse,” a day after the House Judiciary Committee held a misconduct hearing in an effort to oust IRS Commissioner John Koskinen.
IMF Sets Debt Relief as a Condition for Greek Bailout
The International Monetary Fund has outlined a framework for Greece to reduce its debt to sustainable levels that stops short of writing down outstanding loans.
SEC Considering Tighter Regulation of ETFs
The U.S. Securities and Exchange Commission is conducting a sweeping review of exchange-traded funds to determine whether new rules are warranted to reduce risks for investors.
Senate Bill Would Require Presidential Nominees to Release Tax Returns
Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee, has introduced legislation that would require presidential nominees such as Donald Trump, the presumptive Republican presidential nominee, to release their tax returns.
The Changing Role of the CFO
The profiles and priorities of CFOs around the world are undergoing a transformation, according to a new report.
NASBA Provides First-Ever Official Count of CPAs
The National Association of State Boards of Accountancy has released for the first time in history an official CPA population statistic representing the total number of individual, U.S.-licensed CPAs.
University of Minnesota Tops College Choice’s ‘Best Bachelor’s in Accounting’ Ranking for 2016
The University of Minnesota and its Carlson School of Management placed first amongst a slew of other big-name institutions, according to the recent College Choice ranking of the best bachelor’s degree programs in accounting.