Weekly News Round Up: Congress Pushes IRS to Enhance Cybersecurity; Accounting Class-Action Lawsuits; and NPR Does Personal Finance
April 25, 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 U.S. industrial output dropped in March, and the IRS is under scrutiny from Congress to step-up its cybersecurity efforts. In addition, there has been a jump in accounting-related class-action lawsuits, and NPR is now in the personal finance game.
U.S. Industrial Output Drops 0.6 Percent in March
In another sign that economic growth slowed in the first quarter, U.S. industrial production fell more than expected in March, showing a 0.6 percent drop for a second month in a row.
Congress Presses IRS to Better Protect Taxpayer Info
Last week, the House Ways and Means Oversight Subcommittee held a hearing on the 2016 filing season and how the Internal Revenue Service needs to enhance its cybersecurity efforts.
Senate Committee Drops Tax Preparer Regulation From Identity Theft Bill
The Senate Finance Committee has dropped a provision for regulating tax preparers from legislation that would curb identity theft and tax fraud.
Accounting Class-Action Lawsuits Jumped in 2015
The number of accounting-related securities class-action filings increased for the third year in a row in 2015, according to a new report.
AICPA Debuts Benefit Plan Audit Certificate Program
The American Institute of CPAs has begun offering intermediate and advanced certificates to CPAs who perform “single audits” of governmental entities and grantees and of employee benefit plans.
Financial Stress Climbing Among U.S. Workers
Financial stress rates for U.S. workers are among the highest they have been over the last five years, as workers contend with greater financial burdens and debt, according to a new survey.
NPR Dominates Personal Finance Arena?
NPR recently created a Facebook page dedicated to personal finance, and it has taken off like wildfire.