News Roundup

May 19, 2017

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Groups Protest Weakening of Sarbanes-Oxley in Financial Choice Act

The Center for Audit Quality, the Council of Institutional Investors and CFA Institute have written a joint letter to the leaders of the House Financial Services Committee objecting to legislation that would weaken some key provisions of the Sarbanes-Oxley Act and the Dodd-Frank Act.

AICPA Previews New Standard for ERISA Plan Audits

A new auditing standard proposed by the AICPA is geared toward audits of financial statements of employee benefit plans that are subject to the Employee Retirement Income Security Act of 1974.

California Considers Taxing Companies to the Moon (and Back)

California has long been considered fairly aggressive when it comes to how far they're willing to go to impose taxes. Now, the state may literally be reaching for the stars. The state has introduced a proposal that would make it the first state to tax commercial space transportation companies.

Overtime and Stress are Common During Month-End Close Processes

Automation has helped improve the efficiency and accuracy of the month-end close, but finance departments still feel pressure to close the books faster. Two recent surveys by software providers underscore several key issues facing finance professionals 12 times a year.

Is Pay Transparency Right for Your Company?

Pay transparency isn’t that common, but with the fight for equal pay still raging, should it be?

3 Tech Trends for Accountants to Watch in 2017

Kimberley N. Ellison-Taylor, chairman of the AICPA, recently noted that technology tops her list of the most important trends shaping 2017 because it will drive so many of the profession’s opportunities and challenges in the year ahead.

2018 Health Savings Account Limits Increase Slightly

The IRS issued the inflation-adjusted figures for calendar year 2018 for the annual contribution limits for health savings accounts and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans.

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