Please ensure Javascript is enabled for purposes of website accessibility

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.”

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]