Monthly Archives : July 2014

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Bitcoin Community Split on Proposed Regulations

Bitcoin enthusiasts from around the world have been voicing their views on the proposed regulation on virtual currencies recently put forward by the New York State Department of Financial Services, and while there is a lot of passion behind talking about the proposal, whether it's ultimately a good or
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Study: Powerful People Less Empathetic

Ever feel like your boss just doesn't understand you? Maybe he really doesn't. A new study in the Experimental Journal of Psychology posits that power fundamentally changes how sensitive you are to the feelings of others, said the New York Times. read more    
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CAQ: Number of Restatements Lower than 10 Years Ago

A study published by the Center for Audit Quality has shown that the number of restatements on financial statements has declined over the last 10 years, according to Compliance Week. Restatements in 2003, before the Sarbanes-Oxley Act took effect, numbered 856, peaked in 2006 at 1,784, and then declined
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Congresswoman to Propose National Soda Tax

In order to reduce consumption of sugary drinks, a 12-term representative from Connecticut, Democrat Rosa DeLauro, plans to introduce a bill that would levy a 1 cent per 4.2 grams of "caloric sweetener" used in a sugared beverage, according to the Hill. read more    
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Russia Mulling Banning Big Four, Other Companies

Russia, the target of numerous economic sanctions based on its involvement in the Ukranian crisis, is considering legislation that would target foreign companies operating in Russia, and specifically singles out foreign audit firms, namely the Big Four, according to the Wall Street Journal. While the bill has yet to be
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Legislators Propose Replacing IRS Commissioner with Committee

In light of the recent IRS nonprofit oversight scandal, lawmakers from the Republican-controlled House Oversight Committee have proposed 15 potential changes to the tax collector's structure, not least of which is scrapping the commissioner's office entirely and replacing it with a multi-member commission, according to the Hill. read more    
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