Actions that employees do or don't take after a data breach can result in fines, reputational damage and legal liability, lawyers say. A company conducting a post-breach internal investigation should rely on legal counsel and insurance brokers to avoid exposing the company to greater liability, they say.
Cybersecurity incidents in the first quarter of the year were up 32% from the same period last year, a Positive Technologies report states. The report also states that malware attacks were up 75% from last year, while data theft rose 13%.
Federal Reserve Chairman Jerome Powell said that with inflation close to a 2% target and with unemployment low, the central bank will probably keep gradually increasing interest rates. Powell told Congress raising rates too slowly could result in high inflation, while adjusting them too quickly could weaken the economy.
The Connecticut Higher Education Trust recently reported online criminals had stolen $1.4 million from 21 investors, highlighting the vulnerability of college-savings accounts. Experts suggest protecting yourself by checking your account balance regularly and by being wary of what you post on social media.
The Government Accountability Office has issued revised generally accepted government auditing standards used to perform audits of government entities and entities receiving government awards. A more in-depth look at the revision prepared by the AICPA Governmental Audit Quality Center is available in this practice alert.
The Internal Revenue Service has issued procedures that eliminate the requirement for many exempt organizations to list certain substantial donors' names and addresses on Form 990, Return of Organization Exempt From Income Tax, and certain other forms in the Form 990 series. The rules, however, do not apply to Sec. 501(c)(3) public charities, which must still disclose that information.
Four states have sued in US District Court, asking the court to invalidate the $10,000 limit on the deduction for state and local taxes that was enacted as part of last year's tax-overhaul legislation. The states claim the cap is unconstitutional and causes them irreparable harm.
Volunteering at a not-for-profit organization can lead to a job opportunity or can give you valuable experience to add to your resume. In addition to letting you apply existing job skills, volunteer positions help you turn professional weaknesses into strengths.
A package of bills introduced in the Senate would make it easier for small employers to participate in pooled employer retirement plans and would encourage adoption of automatic enrollment.