PYMNTS

NOVEMBER 26, 2018

It’s common sense that a corporation would want its C-Suite to have some knowledge of accounting practices, and one could assume that a lack of understanding of corporate accounting may heighten the risk for misstatements on financial reports. ” Below, PYMNTS breaks down some of the key data points from the research.

auditor 51

auditor managerial accounting Account accountant 51

PYMNTS

MARCH 29, 2019

The co-chief executive officer of Asiana Airlines is exiting the company following an accounting debacle that led two auditors to reject the company’s annual reports. ” Those struggles led Asiana to revise its financials and disclose a larger annual loss for 2018 in order to receive approval from auditors.

Account 46

Account accountant accounted auditor 46

PYMNTS

AUGUST 12, 2020

Palette Software unveiled accounts payable (AP) automation technology that is designed for firms in the construction and engineering industries and run on the cloud, according to an announcement. Finance administrators and project managers both benefit from automation of the accounts payable process.

AP Automation 69

AP Automation Construction Technology accounts payable 69

PYMNTS

JANUARY 30, 2020

New lease accounting standards are in effect for publicly traded companies in the U.S. after the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) introduced changes to the way businesses account for their outstanding leases. ” Lease Misunderstandings. .

Account 40

Account accountant accounted accounting standards 40

PYMNTS

JANUARY 2, 2020

The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax. That means accountants will be expected to become business advisers, not just number checkers.

Technology 71

Technology auditor accounting and finance accounting standards 71

PYMNTS

DECEMBER 7, 2018

corporate finances following a series of scandals. Separate reports on Thursday in AccountingToday said the nation’s top auditors, including KPMG and PwC, have been urged to improve their corporate accounting processes, with the U.K.’s

Account 43

Account accountant accounted auditor 43

PYMNTS

OCTOBER 16, 2019

Germany-based Wirecard is once again facing allegations of accounting fraud by the Financial Times (FT). Auditor Oversight Doubted. Earlier this year, the Financial Times published separate reports accusing Wirecard of accounting fraud, which the payments company also vehemently denied. billion ($4.63 Previous Allegations.

Account 44

Account accountant accounted Non-Profits 44

PYMNTS

JULY 6, 2020

This week’s look at the latest cases of B2B fraud finds a surge of business email compromise (BEC) attacks, as well as emerging trends in fraud related to government coronavirus relief efforts. million of that financing was obtained in the form of a Paycheck Protection Program loan, officials noted, with U.S.

accounts payable 59

accounts payable Missouri payroll Real Estate 59

PYMNTS

FEBRUARY 6, 2020

Supply chain financing is a practice that has received a bit of backlash in recent weeks, with critics accusing some large corporates of forcing discounts on small suppliers to speed up payment. ” Aligning Incentives. ” From Cost Center to Strategist. . ” From Cost Center to Strategist.

Legal 52

Legal accounts payable accounting and finance Finance 52

PYMNTS

APRIL 18, 2018

A slew of accounting scandals in the U.K. has led the government to launch an inquiry into the powers of the Financial Reporting Council (FRC), the government watchdog aimed at overseeing auditing and accounting practices in the country. Reports in Reuters this week said the U.K. Reports in Reuters this week said the U.K.

Account 40

Account accountant accounted audit 40

PYMNTS

SEPTEMBER 29, 2020

As a provider of back-office financial technology, it's vital to speak with chief finance officer (CFO) and finance executive end-users about what they need and which friction points are giving them the most pain. Finance teams have mountains of manual tasks to complete every day. Manual Pain Points.

Technology 59

Technology accounts payable accounting and finance auditor 59

PYMNTS

NOVEMBER 4, 2019

lawmakers are calling for new legislation that would ensure auditors and accountants are better able to identify and call out issues within their clients’ finances as the government works to avoid more high-profile corporate collapses. Finance U.K. Finance U.K. reported on Monday (Nov. reported on Monday (Nov.

audit 40

audit accounting and finance auditor Finance 40

PYMNTS

AUGUST 21, 2018

The regulator determined that KPMG’s decision to provide expert witness services to Ted Baker in a lawsuit breached ethical standards and compromised KPMG’s ability to audit Ted Baker’s finances without bias. At the same time, there have been some calls to break up the FRC, too. government.

auditor 40

auditor audit financial statements accounting and finance 40

PYMNTS

NOVEMBER 20, 2020

Payables and accounting operations overall — "the machinery of paying and getting paid," as Brown explained — topped the list. But we recognize that we can run a finance department virtually.". Simple things like someone wanting a manual check," he said. Manual checks don't exist in a COVID environment. "We

NetSuite 87

NetSuite Education auditor accounting and finance 87

PYMNTS

JULY 9, 2019

This lack of insight into intercompany accounts can result in misstated financials, fraud and, overall, a lack of understanding into cash positions and allocations. The tool lets treasurers keep a single account for each currency, for example, or to group accounts based on product line or legal entity. Open Banking Opportunity.

accounting and finance 60

accounting and finance auditor Finance corporate accounting 60

PYMNTS

MAY 1, 2017

“Small firms are going out of business because they are owed money by large firms ,” said Liz Sandwith, chief professional practice adviser at the Chartered Institute of Internal Auditors, in the report. Companies and their directors are liable under the new regulation if they don’t comply or provide misleading information.

auditor 40

auditor Account accountant accounted 40

PYMNTS

JUNE 11, 2019

The Financial Times reported on Sunday (June 9) that former Chairman Luke Johnson published a column in the Sunday Times describing his personal struggles as the fraud saga unfolded, saying he developed “chronic insomnia” following revelations of accounting regularities that emerged last October. Johnson lent the chain about $12.7

auditor 49

auditor accounting and finance Government Finance 49

PYMNTS

NOVEMBER 13, 2018

Parliament will commence an inquiry into the nation’s corporate auditing market, which is currently dominated by the Big Four accounting firms Deloitte, PwC, EY and KPMG, adding new pressure on an industry already being probed by other policymakers. Reports in Reuters on Sunday (November 11) said the U.K.

audit 49

audit cma auditor Construction 49

PYMNTS

JUNE 1, 2017

The company announced Wednesday (May 31) that it is rolling out NICE Actimize ABC, an anti-bribery and anti-corruption solution that analyzes financial data to identify potential instances of bribery for accountants and auditors. “We In most enforcement actions, roughly 50 percent come out of whistleblowing.

Technology 40

Technology audit accounting and finance auditor 40

PYMNTS

MARCH 15, 2020

Those firms can now sidestep the process of having an auditor check their internal controls, something implemented in 2002 with the Enron scandal and others. “A The new changes will reduce compliance costs for public companies for five years that have less than $100 million in revenues and less than $700 million in outstanding shares.

audit 63

audit Indiana auditor Account 63

PYMNTS

OCTOBER 1, 2019

Reports also noted that analysts first sounded the alarm on Reliance earlier this year when auditors raised concerns over ambiguity in the firm’s accounting practices and related party transactions. Anil Ambani , group chairman of the non-bank financial company (NBFC), revealed the firm’s plans on Monday (Sept.

auditor 43

auditor accounting and finance Government Finance 43

PYMNTS

AUGUST 19, 2016

Inter-company accounting , says Deloitte, is suffering from a lack of transparency and accuracy, and Tom Toppen from Deloitte’s inter-company accounting team informed PYMNTS how the negative implications of this go beyond a troublesome audit. The Root Of The Problem. Where The Problem Grows. ” How To Fix It.

auditor 40

auditor audit Legal accounts payable 40

PYMNTS

FEBRUARY 15, 2019

“Collaborative arrangements, as described [by the agencies],” they said in October, “generally are most suitable for banks with a community focus, less complex operations and lower-risk profiles for money laundering or terrorist financing. The unit ultimately wrote off $685 million. The company has since said it would sue the FT.

auditor 49

auditor accounting and finance audit Finance 49

PYMNTS

MAY 17, 2018

A few key themes emerged from the fallout, however, with analysts citing Carillion as a prime example of how a consolidated auditing market risks lackluster accounting standards, as well as how late payments by large corporates can have detrimental impacts on small suppliers. Both topics, however, have captured headlines for some time.

audit 40

audit accounting and finance Government corporate accounting 40

PYMNTS

JUNE 25, 2018

When a startup owner mixes personal and business finances , the negative consequences can go in multiple directions. ” For instance, startups are often preparing to eventually have investors take a look at financial data, or for auditors to take a peek at the books as they prepare for a possible initial public offering (IPO).

Expense Management 52

Expense Management auditor Healthcare accounting and finance 52