Weekly News Round Up: City Finance Officer Optimistic; IRS Sets Priorities for Tax-Exempt Unit; and Personal Finance Tips for Entrepreneurs

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 city finance officers are feeling optimistic about the fiscal conditions of their communities. In addition, the PCAOB provides more insights into its re-focus on audit firms, and we offer personal finance tips for entrepreneurs.

City Finance Officers’ Optimism Near Its Highest

Amid a continuing post-recession improvement, eight in 10 city finance officers are optimistic about the fiscal condition of their communities, according to a new report.

TCP Venture Capital Launches 2nd Propel Baltimore Fund

TCP Venture Capital recently announced the first closing of the Propel Baltimore Fund II, which will continue to focus on high growth investment opportunities primarily in the technology sector with a goal of keeping and bringing growth companies and jobs to Baltimore City. SC&H Capital consulted on the transaction.

IRS Sets Priorities for Tax-Exempt Unit

The Internal Revenue Service has released a set of priorities for its Tax Exempt and Government Entities Division as it tries to turn the page on a scandal involving applications for tax-exempt status by conservative political groups.

PCAOB Refocuses Audit Firm Inspections

The Public Company Accounting Oversight Board released a document describing its main objectives, focus and scope when inspecting audit firms this year.

Report: IRS Needs to Keep Better Tabs on International Taxpayer Correspondence

The Internal Revenue Service is having trouble keeping track of correspondence with international taxpayers, according to a new report.

Energy M&A Surges Despite Oil Slump

The sharp decline in oil prices in the past year has not hampered M&A activity in the energy sector, according to the Wall Street Journal.

AICPA Awards $264,000 in Minority Doctoral Academic Fellowships

To help increase the number of CPAs from diverse backgrounds teaching and serving as role models at the college and university level, the AICPA has awarded the Minority Doctoral Fellowship to 22 deserving scholars..

A Personal Finance Checklist For Entrepreneurs

Forbes is offering this personal finance checklist for entrepreneurs.