Weekly News Round Up: Feds Point to December Rate Hike; Executives Bullish About Deal Making; and the New Senate Cyber Bill

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 U.S. Federal Reserve will most likely implement an interest rate hike in December, and a new survey finds that many U.S. executives plan to actively pursue acquisitions in the next year. In addition, we offer insights into the new Cybersecurity Information Sharing Act (CISA).

Fed Points Toward Rate Hike in December

Last week, the U.S. Federal Reserve voted to keep interest rates unchanged, but the odds of a December rate hike appear to have improved.

GOP Lawmakers Introduce Resolution to Impeach IRS Commissioner

The House Oversight and Government Reform Committee Chairman introduced a resolution to begin proceedings to impeach IRS Commissioner John Koskinen.

Survey Finds Execs Bullish About Deal Making

A record number of U.S. executives plan to actively pursue acquisitions in the next year, with the pursuit of long-term growth outweighing short-term concerns about financial market volatility, according to a new study.

IRS Advisory Committee Recommends Changes in TIN Matching Program

The IRS’s Information Reporting Program Advisory Committee issued its annual report for 2015, with numerous recommendations including changes in the agency’s Taxpayer Identification Number Matching Program.

AICPA Releases New Auditing Standard and Interpretation on Sustainability Financial Statements

The AICPA has issued a new auditing standard related to the sustainability financial statements used by the government for long-term projections of social insurance programs.

A Quick Guide to the Cybersecurity Bill Passed by the U.S. Senate

Scientific American is offering this quick primer on the controversial Cybersecurity Information Sharing Act (CISA), which was passed by the Senate last week.

More Issuers Revealing Pre-IPO Weaknesses

According to a new study, the percentage of IPOs revealing material weaknesses in their internal controls before they go public has been rising steadily.