Weekly News Round Up: IRS Budget Cut Protests; Finance Executives Under Pressure; and Tech M&A Holds Strong
November 16, 2015
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 seven former IRS commissioners are protesting proposed budget cuts for the agency. In addition, tech M&A remains strong, and a new study shows that financial executives are under significant pressure to control cash flow.
Former IRS Commissioners Protest Budget Cuts
Seven former Internal Revenue Service commissioners dating back to the Kennedy administration have written a joint letter to the leaders of Congress’ appropriations committees urging them to reconsider proposed cuts in the budget for the agency.
Finance Execs Face Pressure Controlling Cash Flow
Finance leaders are under pressure to better manage margins and earnings performance, cash flow, and cybersecurity, according to a new survey.
IRS Releases Plan for Fraud Victims to See What Thieves Stole
The Internal Revenue Service has introduced a formal policy to assist identity-theft victims in getting copies of bogus tax returns filed in their name.
FASB Moves to Finalize Leasing Standard, Sets Effective Dates
The Financial Accounting Standards Board recently voted to proceed with issuing a final standard on its long-delayed project for overhauling the accounting for leases and set the dates for when the new standard will take effect.
‘Retired-CPA’ Status Proposed by AICPA and NASBA
CPAs at the end of their careers would be allowed a “Retired-CPA” status under a newly released proposal by the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA).
Tech Industry M&A Market Holds Strong
While the number of tech industry M&A deals dipped slightly in the third quarter from the second quarter, the total value of the deals represents a modest increase, according to a recent study.
Available Resources and Financial Info for Military Veterans
In the wake of Veterans Day last week, Money Magazine is offering this comprehensive list of personal finance resources for U.S. military service members.