Going Concern

MARCH 4, 2022

Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine.

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CPA Practice

APRIL 26, 2024

Accounting for and Disclosures of Software Costs: FASB staff provided PCC members with an update on the project, including the Board’s recent decision to pursue targeted improvements to Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software.

accounting standards 65

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Withum

JUNE 14, 2023

Companies will have to disclose specific ESG information that regulators and accounting standards require. ESG reporting standards are transitioning from the wild west to ridged government and accounting-imposed standards. Scope 3 emissions will not be subject to audit.

international accounting standards 59

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inDinero Accounting

JUNE 29, 2023

Generally Accepted Accounting Principles (GAAP) are a set of accounting principles, standards, and procedures that define accepted accounting practice at a particular time. Its purpose is to ensure that financial statements provide an accurate and transparent view of the company’s financial condition and operations.

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ThomsonReuters

DECEMBER 6, 2022

The spotlight on environmental, social, and governance (ESG) continues to intensify as businesses are increasingly being called upon to disclose more about their ESG performance and strategies. Risks and opportunities related to ESG matters may have an unfavorable, favorable, or neutral effect on financial statements.

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Going Concern

OCTOBER 7, 2022

Accounting’s Big Lie — and How to Fix It [ Project on Government Oversight ] A colossal conflict of interest compromises the auditing of public companies and the financial security of everyone who depends on them. The Project On Government Oversight is planning a conference on what to do about it. Firm Watch. ?FRC

Illinois 93

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Cherry Bekaert

FEBRUARY 19, 2024

Contributor: Anthony Walsh The Governmental Accounting Standards Board (GASB) has issued Statement No. 101, Compensated Absences , to update the recognition, measurement and disclosure requirements for compensated absences in state and local governments. This new guidance supersedes GASB Statement No.

financial statements 59

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Going Concern

NOVEMBER 18, 2022

More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. KPMG blocked from Abu Dhabi audits as it elects new regional boss [ Financial Times ]. Defense Department fails another audit, but makes progress [ The Hill ].

Technology 79

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Going Concern

MARCH 24, 2023

The federal government levies taxes on collectibles held for more than a year at a top rate of 28%. Stanton was licensed as a certified public accountant in New York in 1988 and had previously run his own firm. audit partners want a bigger piece of the firm’s lucrative tax business. Julie Boland, EY’s U.S.

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Going Concern

APRIL 7, 2023

Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. ’s accounts drew scrutiny from regulators, the firm’s plan to secure a U.K.

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ThomsonReuters

JANUARY 18, 2024

Responsibilities around AI in accounting Further illustrating this point are the advancements in innovative technology, such as AI, and its impact on the profession. In fact, more boards and audit committees are, or will be, looking for accountants who understand AI ’ s potential and limitations.

Account 59

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Cherry Bekaert

MAY 9, 2024

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. Q: What is an overhead rate audit?

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ThomsonReuters

APRIL 18, 2023

Deliver accounting and compliance news alerts so practitioners are regularly provided critical accounting, audit, and corporate finance developments, along with expert analysis. The lease accounting standard became effective in 2019 for public companies.

Account 52

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Cherry Bekaert

JULY 11, 2023

Over the years, the Governmental Accounting Standards Board (GASB) has issued various pronouncements ambiguously named “Omnibus.” Omnibus statements are often overlooked for a variety of reasons: Omnibus statements rarely focus on one primary topic; they don’t pave new ground, but rather amend previously issued guidance.

Government 40

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Withum

JULY 11, 2023

Digital transformation is key to building a path to sustainable mining, addressing sustainability challenges and capturing meaningful, thorough ESG (Environmental, Social, and Governance) data. In today’s mining industry, the effective management of environmental, social, and governance (ESG) data is of paramount importance.

international accounting standards 40

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PYMNTS

JANUARY 2, 2020

Several high-profile corporate collapses and initiatives from corporate accounting standard-setters have raised questions about businesses’ use of supply chain finance and whether the trade finance tool prevents investors and auditors from gaining a transparent view into company finances. Reverse Factoring, Auditing Scrutinized.

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PYMNTS

MARCH 6, 2019

Corporate accounting standards are changing, with the Financial Accounting Standards Board adopting new standards in ways companies report on leases, hedging and other financial activity. ’s 9,000 publicly listed companies spiked in 2018 after consistent declines since 2006. . In the U.K.,

Finance 55

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Snyder

NOVEMBER 22, 2022

It’s essential to keep in mind all these small details of the whole picture to provide your business with up-to-date information about the accounting process. help to understand the financial situation better. The Fantastic Four of accounting. In short, accounting principles matter…a lot. Cost principle.

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Cherry Bekaert

AUGUST 31, 2023

Contributors: Jack McKee, Manager, Government & Public Sector With staffing challenges and exceedingly more complex Government Accounting Standards Board (GASB) requirements , many government and public sector organizations are finding it difficult to focus on their core mission and deliver results for constituents.

Government 98

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Going Concern

MARCH 8, 2024

In an interview with Bloomberg Law, Punt said he is optimistic about growing the accounting giant’s market share for the proactive services Deloitte calls “business transformation,” arguing general counsel need to deliver more value to their businesses through streamlined processes. When conducting the fiscal year 2021 audit of Tingo, Inc.,

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Cherry Bekaert

APRIL 3, 2023

Growing Your Business Starts With Evaluating, Governing and Managing Risk Author: Brian Murrow, Managing Partner – Risk & Accounting Advisory Services Naturally, after unfortunate incidents, risk governance and security are on top of mind for many. 21 (SSAE 21), which governs SOC attestations. 18 (SSAE 18) and No.

financial statements 75

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Going Concern

JANUARY 11, 2024

The application or implementation of auditing, quality control, and independence standards related to the audits of the financial statements of domestic and/or foreign public companies or broker-dealers registered with the SEC. Exclude lengthy or excessive quotations from accounting or auditing literature.

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Going Concern

JANUARY 20, 2023

PwC sees off Deloitte to retain HSBC audit worth up to $1bn [ Financial Times ] PwC has retained the most valuable audit contract on the London Stock Exchange after overcoming a challenge from Deloitte to sign off the accounts of HSBC until 2034.

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Going Concern

JULY 15, 2022

PwC partner accused of rating female staff leaves firm [ Australian Financial Review ] A PwC partner who allegedly held male-only events with colleagues where they rated the attractiveness of women in their office and visited strip clubs has left the firm. stock exchanges.

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Ryan Lazanis

JUNE 8, 2023

3) Improve Skills Accounting forums act as knowledge exchange hubs, where members are welcome to ask others how to become more effective in tackling various processes. There’s a bunch of users sharing their pet peeves, CPA exam tips, investment strategies, and even complaints about certain jobs or the government.

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Going Concern

JULY 29, 2022

note: fans of accounting news — all two of you — are encouraged to sign up for our newsletter to get headlines delivered to your inbox twice a week on Tuesday and Friday. It puts pressure on what companies report in their financial statements, the rules for which are crafted by the Financial Accounting Standards Board.

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Going Concern

MARCH 3, 2023

EY US launches Center for Government Modernization [ PR Newswire ] Side note: why are they still using Ernst & Young in press releases? Ernst & Young LLP (EY US) today launched the EY Center for Government Modernization (the Center), an initiative of the EY US Government & Public Sector. Marathon Digital Inc.

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ThomsonReuters

MARCH 17, 2021

He shared his thoughts about whether technology will impact the way the board sets standards and provided the most current view of the board’s work on segment reporting, goodwill, government assistance, debt, and a slew of other topics. Government Assistance, Debt, Goodwill, Segment Reporting. What are the plans for this topic?

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