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News

The Daily

  • It Can Happen to Anyone: Avoiding Social Media Disaster

    By:
    Jason Wong
    |
    Apr 3, 2015

    The most innocuous of social media interactions can have negative consequences. A case in point: Rory Cullinan, the outgoing chairman of the Royal Bank of Scotland. According to Time, Cullinan was mocked roundly in British tabloids when it was discovered that he had sent several Snapchat selfies to his 18-year-old daughter with captions that expressed considerable distaste about the board meetings he was attending at the time. (Some examples: “Boring meeting xx” and “Another friggin meeting.”) Though Snapchat messages disappear after a short while, Cullinan’s daughter posted them to her Instagram account, giving them a second life.  Soon after the messages went viral, RBS announced that Cullinan would be stepping down at the end of the month, though it did not give a reason for his departure.

  • More IRS Audits Focused on Lower and Middle Class

    By:
    Chris Gaetano
    |
    Apr 2, 2015
    New data from the IRS shows that if you make more than $100,000 a year, you're less likely to get audited than if you were an individual making more than that. Why? One article suggests budget cuts. 

  • FASB Proposes Delaying Revenue Recognition Date One Year

    By:
    Chris Gaetano
    |
    Apr 2, 2015
    The FASB voted to pose a question to stakeholders: should the revenue recognition standard be delayed?

  • Study: Big Signature Correlated with Big Ego

    By:
    Chris Gaetano
    |
    Apr 1, 2015
    A new study links narcissism with signature size, which could have possible implications on financial reporting behavior. 

  • SEC: Confidentiality Statements Cannot Be Used to Stop Whistleblowers

    By:
    Chris Gaetano
    |
    Apr 1, 2015
    The Securities and Exchange Commission enforced for the first time a provision of the Dodd-Frank Act that prevents companies from interfering with communicating with the SEC about violations of federal securities law. 

  • Study: Individual Share of Tax Revenue Up, Corporations Down

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    Individual income taxes are making up a larger share of overall GDP, while corporations are making up a smaller one. 

  • Report: Americans Not Saving

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    A new report shows Americans save very little money for a rainy day. 

  • Study: Hiring Jerks is Expensive

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    Problematic employees cost more than morale: a new study has found that people who rub their co-workers the wrong way can have a significant dollar impact on the bottom line. 

  • McDonalds UK Values Soft Skills at 88 Billion Pounds

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    A study commissioned by McDonald's UK says that soft skills contribute 88 billion pounds to the economy, and is set to make up more as the years go on. 

  • Rep. Maxine Waters: SEC Should Give Fewer Bad Actor Waivers

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    Maxine Waters (D-Cali.), a top ranking member of the House Financial Services Committee, wants to make it tougher for the Securities and Exchange Commission to waive bad actor disqualifications in regulatory enforcement.

  • Auditors Find 28.4M Dollar Overcharge in Maryland Health Exchange

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    An audit has found that the state of Maryland has overcharged the federal government $28.4 million in setting up its health care exchange. 

  • Big Four Firms Inching Into Law Firms' Territory

    By:
    Chris Gaetano
    |
    Mar 31, 2015
    The Big Four, slowly but surely, are starting to compete with some of the largest law firms in the country.

  • Virtual Meetings, Real Problems

    By:
    Chris Gaetano
    |
    Mar 31, 2015

    It can be touch to make a virtual meeting as productive as it can, especially when people's real-world behaviors disrupt things. 

  • Public Praise for Significant Taxpayers?

    By:
    Chris Gaetano
    |
    Mar 30, 2015
    Tax delinquents are named and shamed--why not do the opposite and publicly praise people who pay significantly more taxes? 

  • State/Federal Tax Conflict a Real Buzzkill for Legal Marijuana Industry

    By:
    Chris Gaetano
    |
    Mar 17, 2015
     Imagine if you had a business client who could not take any deductions or credits connected to any expense that arose from building and maintaining that business. What would that look like? What would their tax bill look like?

  • Belgium Number One in Income Tax; U.S. Number Eight

    By:
    Chris Gaetano
    |
    Mar 19, 2015
    While people do indeed pay plenty of taxes in the U.S., things could be worse: they could be in Belgium.

  • IRS Audits At 10-Year Low

    By:
    Chris Gaetano
    |
    Mar 5, 2015
    Last year, the IRS audited just .86 percent of all tax returns, the lowest rate in a decade, according to CNBC. The reason is that while the IRS, due to fewer resources and more responsibilities, is trying to do more with less, it has also resulted in them just doing less.

  • SEC Approves 2015 XBRL Taxonomy for GAAP

    By:
    CHRIS GAETANO
    |
    Mar 12, 2015
    The Securities and Exchange Commission has given final approval for the 2015 XBRL taxonomy for U.S. GAAP, according to Compliance Week, allowing entities to use the updated version in their latest round of filings.

  • Almost 67,000 Dead People Still Filing for Social Security Benefits

    By:
    CHRIS GAETANO
    |
    Mar 12, 2015
    Nearly 67,000 dead people filed for Social Security benefits between 2006 to 2011, claiming a collective $3.1 billion in income, according to CNBC.

  • White Collar Criminals In Utah to be Registered in Database

    By:
    CHRIS GAETANO
    |
    Mar 12, 2015
    Utah has implemented the first, and so far only, white collar criminal registry, allowing anyone to view Utahans convicted of financial crimes like embezzlement or fraud, according to the New York Times.
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