Corporate Governance


CORPORATE GOVERNANCE
The House Financial Services Committee held hearings March 8 on a bill to require nonbinding shareholder votes on executive compensation. The bill, introduced March 1 by the committee’s chair, Rep. Barney Frank, D-Mass., would require public corporations to submit their executive compensation disclosures annually for shareholder approval. The vote, however, would not bind or overrule boards of directors. The Shareholder Vote on Executive Compensation Act, HR 1257, also would require disclosure of any “golden parachute” pay and benefits to executives in any proxy solicitation concerning a proposed merger, acquisition or sale of a company. The full text of the bill is available at http://thomas.loc.gov/ .

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.