Weekly News Round Up: Higher Tax Rates for Top Earners; PCAOB Sets Sights on Revenue Auditing; and What Defines a ‘Small Government Contractor’

Welcome to the first weekly news round up from the SC&H blog.  Each week, we will be showcasing a series of news stories that span everything from government contracting to personal finance to state and local tax issues.

For our inaugural news round up, we have compiled stories about information governance, government contracting and small businesses, PCAOB revenue auditing and much more.

Higher Tax Rates Give Top U.S. Earners Year-End Headaches

The higher tax rates passed by Congress this year have some top U.S. earners seeking last-minute strategies to lower their tax bite as year-end calculations turn up unpleasant surprises.

Information Governance Removes Financial Drain of Compliance

Financial Services Institutions (FSIs) are increasingly faced with a host of regulatory and legal woes, which are causing operating costs to expand and eating into profits, as they continue to grapple with the uncertainty of changing compliance and reporting requirements.

PCAOB Sets Sights on Revenue Auditing

The audit of revenue is starting to appear on the horizon as a target area for tougher enforcement, according to the Public Company Accounting Oversight Board (PCAOB).

LSU Hospital Privatization Cuts Retirement Debt

The layoffs of thousands of LSU workers as part of Louisiana’s privatization plan put a major dent in the state employee retirement system’s debt, dropping it hundreds of millions of dollars.

When Government Contractors Battle Over the Meaning of Small Business

What happens when businesses mischaracterize themselves as small to take advantage of government programs?  BussinessWeek answers the question.

Hong Kong Housing Society Reduces Time Required to Manage Housing Contracts and Process Payments with Oracle Fusion Middleware Solutions

The Hong Kong Housing Society recently improved its governance control, while reducing costs by 25 percent and speeding up approval processes by 30 percent, by using Oracle Fusion Middleware Solutions.

Michigan Sets The Standard For Fairness In Unclaimed Property Audits

A recent Michigan bill (House Bill 4289), delivers a useful example to other states regarding administration of abandoned and unclaimed property (“AUP”) audits.

Media M&A Deals Rise 6 Percent

Media and entertainment mergers and acquisition activity climbed slowly in the third quarter.

Should Nonprofits Pay Property Taxes?

Because most basic services provided by cities are funded by real estate taxes, it’s reasonable that every property owner should pay something, according to Kiplinger Personal Finance. 

3 Reasons Why Personal Finance Should Be Taught in High Schools

Financial planning at the high school level might not turn all students into money-management dynamos, but it certainly can’t hurt.