During a recent visit with US congressional leaders, IIA President and CEO Richard Chambers says he explored support for making disclosure of whether a company has an internal audit function a requirement for being publicly traded. "I was heartened that most legislators I spoke with said they would consider such a step," he writes.
In a recent AICPA survey of 1,018 adults, 58% of respondents said that fake financial news is a serious threat to their financial decision-making. Experts say individuals should thoroughly investigate financial news and its sources before making investment decisions.
The AICPA issued a new framework for cybersecurity risk management reporting Wednesday. The framework gives an organization's management criteria for explaining its cybersecurity risk management program and provides CPAs with guidance to be used in engagements to report on clients' cybersecurity controls.
Pre-retirees aged 55 to 61 now appear less likely to begin collecting Social Security benefits as soon as possible, according to a Fidelity Investments survey. Just 21% in this age group said they would claim Social Security benefits as soon as they are eligible, down from 27% when the survey was administered in 2008.
President Donald Trump's administration released his goals and priorities for tax reform on Wednesday. Key features include a large reduction in the corporate tax rate, fewer and lower tax brackets for individuals, and a repeal of the estate tax and the alternative minimum tax.
Tom Iland, CPA, has become an advocate for those who, like himself, live with autism. With a book on the way and speaking engagements scheduled across the US, Iland has an ambitious goal: Bridge the alarming inclusion gap between people with autism and potential employers.
Companies should be proactive with internal audits of compliance with regard to Form I-9, as US Immigration and Customs Enforcement appears likely to increase its investigations of work site immigration matters, lawyer Keith Covington writes. Employers can audit their whole workforce or a representative sample thereof, but "[c]hoosing an audit pool based on citizenship status or ethnic background constitutes impermissible discrimination and must be avoided," Covington writes.
Strong internal controls are important for associations to maintain accurate financial reporting, says Hilda Polanco of Fiscal Management Consultants. Polanco recommends that association staff and board members sign contracts regarding conflict-of-interest policies and that payroll functions be split among departments, among other suggestions.
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