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Digital exposure is driving firms’ liability concerns

Are loan preparation services an option for your practice?

Americans donated an estimated $358.8 billion to charities last year, according to the annual Giving USA report, the highest total ever in the 60-year history of the report.

The Sustainability Accounting Standards Board has issued provisional standards for seven industries in the consumption area, including agricultural products; meat, poultry and dairy; processed foods; non-alcoholic beverages; alcoholic beverages; tobacco; and household and personal products.

The Securities and Exchange Commission has voted Wednesday to publish a concept release asking for public comments about the current audit committee disclosure requirements, focusing particularly on toughening the committee’s oversight of independent auditors.

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The Governmental Accounting Standards Board has issued two exposure drafts for state and local governments proposing accounting and financial reporting guidance related to external investment pools and how certain component units should be presented in a governmental reporting entity’s financial statements.

In the wake of high-profile data breaches at the Internal Revenue Service and other federal agencies, a new government report warns the IRS against expanding its online customer service options before completing key technology upgrades.

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The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.

Financial services and mobile payments provider Square introduced its new Square Payroll product, currently available to California sellers with plans to expand to other states.

Small business groups are sounding a warning about an obscure Internal Revenue Service rule that takes effect Wednesday imposing heavy fines on small businesses for helping defray the cost of their workers’ insurance or medical expenses.

The California Society of CPAs has elected Jennifer Ziegler as its new president and Greg Burke as president of the CalCPA Education Foundation for 2015-2016.

Check out the digital edition of the July 2015 issue of Accounting Today.

Randy Rupp succeeds Steven Kelly as the firm’s chief executive officer

Private sector employment increased by 237,000 jobs last month, according to payroll giant ADP, in a sign of further strengthening in the economy.

Jeb Bush made $29 million in the first seven years after he left public office, dramatically increasing his wealth during a recession, a financial crisis and the Obama presidency he has criticized.