Weekly News Round Up: Trump’s Impact on M&A Activity and Personal Finances; Internal Auditors Under Pressure; and Virtual Currency
November 14, 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 President-elect Donald Trump could impact both M&A activity, as well as your personal finances. In addition, internal auditors are under more pressure to change or suppress findings, and the IRS was asked to take virtual currency and taxes very seriously.
Companies More Reluctant to Deploy Short-Term Cash
Global uncertainty weighed on U.S.-based companies as they accelerated their cash hoarding in the third quarter, according to a new study.
IASB Plans Revamp of Financial Term Definitions
The International Accounting Standards Board is aiming to make it easier for investors to understand financial reports by providing new definitions of common financial terms.
Internal Auditors Strain Under Unethical Pressure
Almost a quarter of all internal auditors experience pressure to change or suppress unfavorable audit findings, according to a new study.
IRS Warned to Safeguard Against Illegal Use of Virtual Currency
The Internal Revenue Service needs to do more to ensure taxpayers aren’t using virtual currencies like bitcoin to avoid taxes, according to a new report.
What Trump’s Victory Means For You and Your Taxes
The president-elect plans to make some radical changes your taxes, as highlighted by this recent MarketWatch article.
Trump Victory Likely to Pose Temporary Hiccup to Merger Activity
According to the Wall Street Journal, Donald Trump’s victory could temporarily cause a hiccup, but ultimately spark an acceleration in deal-making.
4 Ways President-Elect Donald Trump Could Change Your Finances
While there’s no way of predicting the future of anyone’s personal finances, U.S. News & World Report is offering these insights into how your finances could change.