Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how the state of the economy is making it challenging for the U.S. Federal Reserve to consider an interest-rate hike. In addition, CPA pay will increase in 2016, and nearly a third of all Millennials would sell an organ to get out of student debt.
Jobs Report Leaves Interest-Rate Picture Murky
According to this CFO Magazine article, the economy added only 173,000 net jobs last month but the unemployment rate fell to its lowest level since early 2008, leaving the economic outlook murky as the U.S. Federal Reserve gets ready to consider an interest-rate hike.
IRS Releases Mid-Year Filing Stats
The IRS recently reported that it processed 140,024,061 returns from last season through July 30.
IIA Asks SEC to Require Internal Auditors at All Public Companies
The Institute of Internal Auditors has sent a letter to the Securities and Exchange Commission calling on the SEC to require internal audit functions for all publicly traded companies.
GAO Questions IRS Case Selection Process for Collections
The Internal Revenue Service’s Automated Collection System lacks key controls for selecting which delinquent tax cases to pursue, according to a new report by the Government Accountability Office.
CPA Starting Pay to Rise up to 5.3 Percent in 2016
Accounting professionals are commanding increased salaries and other perks as they continue to be in high demand, according to a new study.
The 5 Biggest M&A Deals of the Year (So Far)
2015 has been a boom year for mergers and acquisitions (M&A), as companies around the world seek to expand and diversify at a time when the global economy looks reasonably healthy. As such, CNBC has compiled this list of the five biggest M&A deals of the year, to date.
30 Percent of Millennials Would Sell an Organ to Get Rid of Student Loans
A new survey found that 30 percent of Millennials would sell an organ to get out of student debt.