Weekly News Round Up: Housing Starts Drop; Internal Auditors and Cybersecurity; and Lessons in Personal Debt
February 22, 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. housing starts dropped in January, and internal auditors are becoming involved in cybersecurity risk mitigation. In addition, we are offering a personal debt lesson for all entrepreneurs, courtesy of Kanye West.
U.S. Housing Starts Drop 3.8 Percent in January
U.S. housing starts fell unexpectedly to a three-month low in January but economists said the decline likely does not indicate any long-term weakness in the housing market.
IRS Warns Preparers about Protecting Electronic Filing IDs
The IRS recently urged tax professionals to verify their Electronic Filing Identification Number activity to safeguard against tax fraud.
Internal Auditors Tackling Cybersecurity
Internal audit practitioners are facing new demands for improving cybersecurity and communicating the risks of cyber attacks to their organizations, according to a new report.
Tech CFOs See Lower Valuations But More Deals
Most technology CFOs expect tech business valuations to cool off this year but nearly all of them anticipate M&A activity will match or surpass 2015’s record pace, according to a new survey.
Audit Committees Should Watch for Third-Party Risks
Audit committees need to have oversight of risks to their organizations from third parties such as suppliers, distributors, sales people and service providers, according to a new report.
Companies Getting Ready for FASB’s Leasing Standard
The Financial Accounting Standards Board is expected to release its long-awaited lease accounting standard this quarter, and companies are bracing for the impact on their balance sheets.
Why Kanye West’s $53 Million in Personal Debt is a Lesson to All Entrepreneurs
Forbes Magazine is offering these insights into how Kanye West’s mounting personal debt can be a lesson for all entrepreneurs.