Category: Internal Controls

Oct 04

IRS Confirms Continued Deductibility of Business Meals (When Separable from Entertainment)

By Renee Howdeshell in Financial Reporting, Internal Controls, Taxes
October 4, 2018

For months, the American Institute of CPAs (AICPA) and American businesses have been requesting guidance from the U.S. Treasury Department and Internal Revenue Service (“IRS”) regarding changes made by the Tax Cuts and Jobs Act (TCJA) (Pub. L. No. 115-97) that disallowed the deductibility of entertainment, amusement, recreation and qualified transportation fringe expenses. Businesses and their accounting …

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Permanent link to this article: https://betweenthenumbers.net/2018/10/irs-confirms-continued-partial-deductibility-of-business-meals-when-separable-from-entertainment/

Aug 31

Monsanto Whistleblower Obtains $22.4 Million SEC Award

By Renee Howdeshell in Financial Reporting, Forensic Accounting, Internal Controls, Whistleblower Systems
August 31, 2016

The Securities and Exchange Commission (“SEC”) has awarded $22.4 million to a former Monsanto financial executive, the second-largest whistleblower bounty ever provided. This amount represents the whistleblower’s share of the $80 million penalty paid. The anonymous whistleblower was a former Monsanto financial executive who reported violations of Generally Accepted Accounting Principles (“GAAP”) and misstatements of corporate earnings. …

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Permanent link to this article: https://betweenthenumbers.net/2016/08/monsanto-whistleblower-obtains-22-4-million-sec-award/

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