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November 23, 2022

Accounting News Roundup: IRS Has More Bad News; True COSO Grit; Beer Taxes By State | 05.27.15

Breach Exposes I.R.S. Tax Returns [NYT]
Over 100k returns were compromised and the Service sent out over $50 million in refunds before discovering the scam.

COSO Implementation Gets Gritty [CW (Sub)]
Data from Audit Analytics and Protiviti discovered that only 25% of public companies had not yet upgraded from the '92 framework to the '13 version.

Dear IRS: Industry Groups’ Comments to the IRS On The ‘Cadillac Tax’ [CFOJ]
Groups like the U.S. Chamber of Commercie, the HR Policy Association and something called the National Coordinating Committee for Multiemployer Plans all wrote to complain. 

SEC fines Deutsche Bank for accounting irregularities in crisis [Reuters]
$55 million settled this one. The Commission said DB, "failed to make reasonable judgments when valuing its positions and lacked robust internal controls over financial reporting." 

How High Are Beer Taxes in Your State? [Tax Foundation via Tax Update]
Judging by its $1.29 tax, Tennessee must really have something against beer. 

Robert De Niro tells graduates they’re ‘f**ked’ [GN]
In your best Jack Byrnes voice:  “The graduates in accounting? They all have jobs. Where does that leave you? Envious of those accountants? I doubt it. They had a choice. Maybe they were passionate about accounting, but I think it’s more likely they used reason and logic and common sense to research a career.”

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