Industry News
Accounting
Top stories summarized by our editors
10/22/2021

Large employers are likely to see prices they pay for employees' health coverage rise 5% next year, with the per-worker cost exceeding $13,000, according to Aon. "Looking ahead to next year, medical utilization levels are expected to be higher than were observed since the start of the pandemic," says Ed Cwikla of Aon.

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Reinsurance News
10/22/2021

The National Association of Insurance Commissioners has found insurers' exposure to infrastructure investments has reached $570 billion. Regulators could eventually encourage more investment in this area, but analysts say the effort "cannot compromise the core regulatory mission to preserve the solvency of regulated insurance companies and to protect policyholders."

10/22/2021

The Biden administration is reaching out to the business world for help in dealing with cybersecurity incidents, with Deputy Attorney General Lisa Monaco warning about problems that arise when companies don't work with law enforcement. "We cannot do this alone," Monaco says.

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Reuters
10/21/2021

Although most internal audit reports focus on the weaknesses and problems internal auditors found, most audit testing reveals positive results, writes Tahsinur Rahim, head of audit and compliance at Guardian Life Insurance Ltd. in Dhaka, Bangladesh. In this week's On the Frontlines blog, Rahim writes that sharing such good news with audit clients shows them what is working and helps internal audit build a stronger relationship with them. However, it's important for auditors to strike a balance so that they still highlight the problems they found that might impact the client's operations, Rahim writes.

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Internal Auditor
10/21/2021

An increase to the debt ceiling until December has eased short-term distortion in the bond market, but investors and analysts expect headwinds to return. They say the net supply of new Treasurys will decline and turn negative in coming weeks and will be unable to accommodate demand from money managers.

10/21/2021

Building a truly inclusive culture will require establishing a people-first approach, writes Rosalie Valdez-Vitale of PwC. Valdez-Vitale stresses the need for managers to recognize their powers and responsibilities and develop an atmosphere of belonging.

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Bloomberg Tax
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Valdez, Vitale
10/21/2021

Fumio Kishida, Japan's new prime minister, indicated that tax breaks for businesses that lift wages will be a greater priority than reviewing capital gains policies. An election at the end of the month could determine the number of legislative seats held by Kishida's Liberal Democratic Party.

10/21/2021

Indonesia's parliament approved a tax package that will scrap a planned cut in corporate taxes, impose a value-added tax and introduce a carbon levy. A carbon market could be operational by 2025.

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Reuters, Reuters
10/21/2021

Five European countries have made progress on talks with the US on how digital-service taxes could eventually be withdrawn in light of the global tax deal, according to French Finance Minister Bruno Le Maire. However, Italy's economy minister indicated that the country's digital levy could stay in place for two years.

10/21/2021

Mexican President Andres Manuel Lopez Obrador alleged that foreign businesses had taken part in fuel smuggling and singled out a global energy trader. The attorney general's office is probing the issue, Lopez Obrador said.

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Reuters
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Lopez Obrador