Weekly News Round Up: Top 2016 Issues for CFOs; IRS Warns of Phishing Scam; and Major Pharma M&A Deal

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 a new report on the top issues and challenges CFOs will face in 2016. In addition, the IRS sent out a warning about email phishing scams, and the Pfizer and Allergan merger is the second largest M&A deal of all time.

CFOs Reveal Their Top Issues for 2016

According to a new study, CFOs will focus on reserving margins and sustaining or improving earnings performance in 2016.

Tax Compliance and Reform: What Can You Expect in 2016?

CFO Magazine is offering these five articles on the “ins-and-outs” of tax compliance and reform, what’s changed, and what’s to come.

IRS Warns of Email Phishing Scam Targeting Tax Preparers

The Internal Revenue Service recently sent out an alert warning tax preparers about a phishing email message purporting to ask them to update their IRS e-Services information.

FASB Proposes to Clarify Definition of Business

The Financial Accounting Standards Board has issued a proposed accounting standards update to clarify the definition of a business in an effort to improve financial reporting on acquisitions of nonfinancial assets.

CPA Firm CIOs Plan to Hire More IT Staff

Accounting firm chief information officers plan to hire more IT staff for the remainder of 2015, according to a recent survey.

AICPA Peer Review Board Proposes Change to Peer Review Standards

The AICPAs Peer Review Board has issued an exposure draft outlining proposed changes to their current standards for performing and reporting on peer reviews.

Pfizer and Allergan Announced the Second-Largest Corporate M&A Deal of All Time

The recently announced merger between drug giants Pfizer and Allergan is valued at roughly $160 billion, which is the second-largest M&A deal of all time.