PYMNTS

JANUARY 13, 2020

As Travelex works to regain control of its systems, restore operations and mitigate any future fallout from the incident, the cyberattack is yet another reminder that one company’s cyber vulnerabilities can have far-reaching effects throughout the B2B supply chain. Reports said the former finance director allegedly stole $1.5

B2B 89

B2B Kentucky Colorado Minnesota 89

Airbase

FEBRUARY 3, 2023

Approval chains become more complex, the number and needs of stakeholders increase, transaction types and volume multiply, and compliance and audit readiness become more important. The B2B software purchasing life cycle has become increasingly drawn out and characterized by longer buying cycles and indecision.

Spend Management 130

Spend Management Account accountant accounted 130

PYMNTS

OCTOBER 28, 2020

Today in B2B payments, accounts payable automation firm CPS finds a buyer. Plus, a new FinTech, OpenEnvoy, launches to combat B2B payments fraud, while PCMI collaborates on B2B payments automation, and OpenPayd launches an FX-as-a-Service solution. REPAY Inks Deal For B2B AP Automation Firm CPS. 27) announcement.

B2B 56

B2B Accounts Payable Automation AP Automation accounts payable 56

CPA Practice

OCTOBER 19, 2023

AuditBoard , a provider of cloud-based platform transforming audit, risk, compliance, and ESG management has added new capabilities purpose-built to enable teams to automate critical workflows, surface key strategic insights, and stay on top of proliferating risks.

audit 103

audit Technology B2B California 103

CPA Practice

OCTOBER 30, 2023

AuditBoard , a provider of cloud-based platform transforming audit, risk, compliance, and ESG management has added new capabilities purpose-built to enable teams to automate critical workflows, surface key strategic insights, and stay on top of proliferating risks.

audit 98

audit Technology B2B California 98

PYMNTS

NOVEMBER 12, 2020

Today In B2B payments, NeweggBusiness integrates business financing and payment terms via Behalf, while Deutsche Bank expands its cash management offering into Australia. Plus, GE shutters its staff audit program, and Park Place Payments partners up for small business B2B payments. GE To End Rotational Staff Audit Program.

B2B 67

B2B accounting and finance audit Finance 67

PYMNTS

JULY 6, 2020

The Big Four accounting firms will have to put their United Kingdom auditing and consulting practices in separate business units by 2024, but may keep them within the same parent companies, under regulations announced today by the Financial Reporting Council. The measures by the U.K.’s

audit 66

audit cma auditor accounting firms 66

Going Concern

DECEMBER 1, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. How Is Deloitte Making Accounting Accessible To Diverse Young Talent? Only 10.8%

cpas 104

cpas audit auditor CPA 104

PYMNTS

JANUARY 10, 2020

B2B technology startups continue to gain valuable attention among venture capitalists. In a recent report , seed investors explored why their focus has turned to enterprise startups as opposed to consumer-facing technology firms after the publication’s analysis revealed that today’s seed investments favor B2B startups over B2C.

B2B 52

B2B B2C small business accounting Management Consulting 52

PYMNTS

JANUARY 26, 2021

Usually, the auditing workflow involves looking at expense reports filed by employees, with a focus on identifying potentially erroneous or even fraudulent transactions. Digitizing and centralizing spend across various departments and workflows is the first step to enhancing the auditing process, said McCrossan.

audit 75

audit Technology Spend Management accounts payable 75

PYMNTS

MARCH 1, 2020

s audit regulator, announced plans this week to break up the dominance of the largest four accounting firms, Deloitte, EY, KPMG and PwC , according to the Financial Times. The plans, if put forth, would constitute a huge shake-up for the accounting industry in the U.K., The Financial Reporting Council (FRC), the U.K.’s

Account 92

Account accountant accounted audit 92

PYMNTS

NOVEMBER 15, 2018

As the peaks and valleys of blockchain hype continue to rise and fall, more doubt has surfaced over the future of distributed ledger technology, particularly in the area of B2B payments. Analysts point to the challenges associated with adoption and implementation of blockchain-powered B2B payment solutions as a key hurdle for the technology.

B2B 74

B2B accounting and finance Finance auditor 74

PYMNTS

JANUARY 20, 2021

Manual invoicing is your worst enemy,” said Ramachandran, highlighting its risks and challenges related to fraud, errors and inefficient auditing. Finance and accounting workflows lend themselves well to these three pillars, he said, and Fitzmaurice agreed. “It

B2B 125

B2B accounting and finance accounts payable Finance 125

PYMNTS

MARCH 15, 2020

The Securities and Exchange Commission (SEC) voted last week to ease audit requirements for some small, publicly traded companies, the agency said in a statement Friday (March 13). The only dissenting vote was from Allison Lee.

audit 63

audit Indiana auditor Account 63

PYMNTS

MARCH 13, 2018

Forty percent of audits inspected by the International Forum of Independent Audit Regulators (IFIAR) included serious problems, according to news from The Financial Times on Monday (March 12). The IFIAR found accounting lapses in about 40 percent of the 918 audits of public companies inspected in 2017. In the U.K.

audit 44

audit auditor Account accountant 44

PYMNTS

JULY 2, 2020

The former chair of the London Stock Exchange is calling for a thorough overhaul of audit standards in the wake of the $2.1 Auditors should be required “to find fraud rather than stumble over it,” Donald Brydon , appointed last year to overhaul audit standards in the United Kingdom, told the Financial Times.

audit 56

audit auditor Account accountant 56

PYMNTS

AUGUST 19, 2019

Firms auditing expenses through manual processes and outdated technologies risk missing the chance to flag erroneous or fraudulent submissions from vendors and employees. Deploying technology — especially artificial intelligence (AI) — can streamline the auditing process and boost cost savings significantly.

audit 56

audit accounts payable Technology Healthcare 56

PYMNTS

APRIL 26, 2020

Accounts receivable (AR) platform SurePayd is responding to the coronavirus pandemic by reducing the costs for its remote migration audit services for the next two months for companies that need to go on the cloud during the crisis, according to a press release.

audit 56

audit Technology Account accountant 56

PYMNTS

DECEMBER 7, 2020

Today in B2B payments, Revolut launches a new solution for its business customers, and MonetaGo collaborates to combat trade finance fraud. Plus, Pioneer Bank sues over MyPayrollHR scandal, Procurement Partners secures new funding, and ImagineTime partners on FinTech for accountants. Serent Capital Invests In Procurement Partners.

Finance 63

Finance B2B Technology accounting and finance 63

PYMNTS

OCTOBER 9, 2019

B2B payments friction isn’t only experienced on the payer side. Often, accounts receivable challenges can cause significant disruptions to operations, and those consequences can ripple along the supply chain both up and downstream. These hurdles can also stifle electronic payments adoption in the B2B arena. Failure to Act.

B2B 46

B2B Technology audit accounting and finance 46

PYMNTS

SEPTEMBER 20, 2019

This week, the largest funding round went to a B2B startup developing autonomous trucking technology to boost fleet efficiency, with other rounds landing at small business bookkeeping, workforce communications, and IBAN fraud mitigation startups for a combined $236 million-plus landing at B2B startups.

B2B 49

B2B bookkeeping Technology accounting and finance 49

CPA Practice

MAY 18, 2023

CTCs enhance compliance, reduce fraud, and stream tax collection for business-to-government (B2G) and business-to-business (B2B) transactions. In 2024, France is introducing mandatory e-invoicing for B2B transactions. Bureau of Labor Statistics shows that there is an accountant shortage that is only expected to grow.

Technology 127

Technology Tax B2C B2B 127

PYMNTS

AUGUST 7, 2020

With the new platform, cargo providers will have access to more convenient payment options like direct ACH debits, prefunded accounts or credit card payments, and will be able to deliver speedier payments and worry less about risk due to the more secure system, the press release says.

B2B 102

B2B audit Account accountant 102

CPA Practice

APRIL 29, 2024

During the Intuit Accountants “Better Together” event in New York City, the Intuit ProTax Group brought together tax professionals and industry thought leaders. Chris Picciurro, founder of Teaching Tax Flow , articulated the high cost of demanding accounting jobs. Struggling to recruit and retain high-quality employees.

Tax 125

Tax tax return Technology bookkeeping 125

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

SEPTEMBER 7, 2018

There are some B2B FinTech segments that are mainstays with investors. Companies like alternative small business (SMB) lenders or accounting solutions providers, for instance, remain popular investment targets. This week, though, investors revealed their appetite for B2B FinTech firms that can multitask.

B2B 43

B2B accounting and finance Finance bookkeeping 43

PYMNTS

JUNE 11, 2020

With market volatility and economic pressure higher than it has been in more than a decade, the ways businesses manage and account for their money is inevitably included in that wave of operational change. That means significant implications for the ways accountants and auditors operate both within an enterprise and externally from it.

corporate accounting 77

corporate accounting auditor Account accountant 77

CPA Practice

MAY 12, 2023

accounting profession is facing a much-discussed conundrum. Approximately 300,000 professionals left public accounting in 2021 and 2022 and fewer college students are choosing to pursue accounting as a career. Armanino, for example, turned to Scrubbed to help with audit engagements. “We

bookkeeping 98

bookkeeping accounting firms CPA accounting and finance 98

PYMNTS

OCTOBER 28, 2019

The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt.

B2B 40

B2B accounting and finance accounting standards Finance 40

PYMNTS

DECEMBER 27, 2019

.’s so-called Big Four accounting giants — PwC, Deloitte, KPMG and EY — have reportedly set aside more than $212 million in preparation for potential fines ahead as auditing scrutiny grows. million in fines to the auditing industry, three times the value of fines it had issued in the year prior.

auditor 52

auditor Account accountant accounted 52

PYMNTS

OCTOBER 9, 2020

Venture capital funding landed at supplier payment and compliance automation firms this week, among other B2B innovators that raised money. The big B2B investment of the week was Tipalti , which landed $150 million in new funding on a $2 billion valuation. PYMNTS rounds up the latest funding rounds below.

Technology 107

Technology audit accounts payable B2B 107

PYMNTS

SEPTEMBER 10, 2019

In a statement, Coatue Management Senior Managing Director Thomas Laffont said that artificial intelligence (AI) enables AppZen to deploy more sophisticated analytics and automation within its expense management solution, which allows businesses to assess expenses, automate expense report audits, and identify savings opportunities. “AI

audit 43

audit Technology Expense Management accounts payable 43

PYMNTS

JUNE 6, 2019

auditing giant to overhaul operations amid growing regulatory scrutiny on the industry. PwC is reportedly planning to ramp up its auditing operations by hiring 500 more auditors across the U.K., The company will also deploy a digital audit team, strengthen training operations and review existing clients. .”

audit 46

audit cma auditor B2B 46

PYMNTS

NOVEMBER 6, 2019

Wirecard is having auditing giant KPMG expand the scope of its review of Wirecard financials as the company continues to defend against allegations of fraud. 6) said Wirecard is having KPMG expand its audit review and expects authorities in Singapore to clear the company of any claims of fraud. Reports in Reuters on Wednesday (Nov.

audit 40

audit auditor Account accountant 40

PYMNTS

NOVEMBER 4, 2020

Even with the digitization of the invoice, fraud remains a rampant problem, and it's not only the buy-side of the B2B equation faced with the consequences. I'd be willing to be that any controller or CFO that doesn't have an automated auditing process is worried about it.". A Straightforward Challenge.

Technology 90

Technology B2B audit accounts payable 90

CPA Practice

APRIL 30, 2024

We also help you understand and validate key exemptions and reduce audit risk. E-Invoicing Compliance for Continuous Transactions Controls: Add transaction compliance to accounts receivable and accounts payable processes with industry-leading B2B e-invoicing and B2C e-receipt capabilities.

Tax 52

Tax Technology B2C accounts payable 52

PYMNTS

AUGUST 16, 2020

the newest update to its software, to help companies with faster account reconciliation, artificial intelligence, systems integration and more, a press release says. All of it will aid companies in reducing time spent on task management and audit preparation, which will help eliminate the risk of making mistakes in that area.

AP Automation 67

AP Automation Account accountant accounted 67