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.

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ThomsonReuters

JANUARY 3, 2022

Supply-chain finance is nothing new; it’s been?around Greensill Capital collapsed in early 2021 when it lost financing after its shady practices came to light. Understanding the supply-chain finance process. In general, the financing arrangement is one where: . And lenders get their financing fees.

Finance 98

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Going Concern

DECEMBER 22, 2023

City accountant looks to outsource paperwork to India [ The Telegraph ] One of the UK’s largest accountants Evelyn Partners is considering outsourcing its services to India as the firm outgrows its new City headquarters. Burned Investors Ask ‘Where Were the Auditors?’ Documents related to the Senate inquiry were released Friday.

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Going Concern

MARCH 22, 2024

Day Named Technical Director of the Financial Accounting Standards Board [ FASB ] The Financial Accounting Standards Board (FASB) on March 20 announced the appointment of Jackson M. Mr. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St.

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Going Concern

JANUARY 9, 2023

A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.

CPA 91

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Cherry Bekaert

MARCH 6, 2024

At Cherry Bekaert, we tailor our solution to your unique situation in order to best support your finance team. Cherry Bekaert’s tax team brings expertise in both industry and public accounting to deliver a tailored solution. Contact Us The post Tax Provision Services (ASC 740) appeared first on Cherry Bekaert.

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Going Concern

JANUARY 25, 2023

When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules 1 , accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!”

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Going Concern

FEBRUARY 17, 2023

The revelation that Mr Endow reportedly ran the fund working as a partner at the firm, one of the world’s largest accounting and consulting firms, has raised concerns across the firm’s partnership. Those creditors include the UK tax authority, HMRC. Neither KPMG nor the official receiver would confirm the size of the settlement.

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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 ]. In India, the Big Four firms conduct their audit business through affiliate firms.

Technology 73

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Going Concern

DECEMBER 23, 2022

Hiring, travel for internal events, training and staff Christmas parties have been targeted as part of efforts to curb expenses at the audit and consulting firm ahead of the break-up known as “Project Everest”, people familiar with the matter told the Financial Times. The process, known as confirmation, is part of nearly every audit.

Tax 80

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ThomsonReuters

APRIL 5, 2024

Lastly, interim tax reporting is crucial for complying with accounting standards and regulatory requirements such as FASB Accounting Standards Codification 740-270 Income Taxes (ASC 740). This process enhances the clarity of the reporting and facilitates easy auditing.

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Airbase

NOVEMBER 15, 2023

7) Audit trail transparency. Comply with accounting standards and regulations for AP processing. Integrate with accounting software, ERP, or advanced financial systems, such as budgeting and planning systems. The importance and evolution of accounts payable. 4) Payment cycles. 5) Improved supplier relationships.

AP Automation 130

AP Automation Technology accounts payable Accounts Payable Automation 130

Basis 365

APRIL 25, 2023

As a business owner, managing your finances and keeping accurate records of your transactions is crucial for the success of your venture. However, accounting can often be complex and overwhelming, especially if your books could be more well-organized. This is where the concept of "cleaning up the books" comes into play.

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Accounting Insight

MAY 1, 2024

By analysing large volumes of financial data, AI algorithms can identify patterns and anomalies that may indicate fraudulent activities — leaving the deeper investigation work to the accountants and auditors. Matters such as tax planning, auditing, and providing specialised financial advice are areas where human accountants excel.

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Going Concern

MAY 12, 2023

Working in the Big Four seems to be more limited to just like, CFO or chief finance type roles.” The Asian country recently urged state-owned enterprises to phase out Big Four contracts and hire locally instead in a bid to rein in foreign accountants amid what it called data security concerns. Where’s your sense of adventure?

CPA 108

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inDinero Accounting

JUNE 29, 2023

The history of GAAP dates back to 1929 when the Committee on Accounting Procedure was founded by the American Institute of Accountants and tasked with developing uniform accounting standards. Learn more about the difference between cash and accrual accounting methods in another indinero deep dive.

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Ryan Lazanis

APRIL 18, 2023

AI in accounting refers to the use of artificial intelligence (AI) technologies, such as machine learning algorithms and natural language processing, to automate and enhance various accounting processes. This includes tasks such as financial reporting, audit and compliance, fraud detection, and data analysis.

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PYMNTS

JANUARY 2, 2020

The head of business futures at the Association of Chartered Certified Accountants, Narayanan Vaidyanathan, said the new technology will permanently change how the industry works. The “look-back” period is the time a company has to determine an auditor’s independence. The new rules will also shorten the “look-back” period that U.S.

Technology 71

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Going Concern

JULY 15, 2022

Audit watchdog to overhaul UK corporate governance code [ Financial Times ] The UK’s corporate governance code will be overhauled for the first time in four years with new rules to make boards more responsible for fraud and their company’s finances, and strengthen accountability for bad behaviour. stock exchanges.

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Withum

JUNE 14, 2023

Right now, there is probably no more frequently searched accounting topic by accounting and finance personnel in Fintech than CECL. pronounced SEE-sil) CECL (Current Expected Credit Loss) is a new accounting standard that affects how companies account for credit losses. What is CECL, you ask?

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Going Concern

MARCH 25, 2022

PCAOB cautions firms on use of outside service providers for audit confirmations [ Accounting Today ] The Public Company Accounting Oversight Board issued a Spotlight publication Monday containing some observations and reminders for auditing firms about relying on outside service providers for electronic audit confirmations.

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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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Anders CPA

JULY 6, 2022

One of those being the accounting involved in combining businesses. To help simplify purchase accounting for business combinations involving private companies, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-18 back in December 2014.

Account 105

Account accountant accounted financial statements 105

Going Concern

JUNE 7, 2023

The issue is a two-pronged one: 1) a shortage of outside auditors holding things up and 2) shortages within government departments preventing issuers from filing and producing statements on time. The state associations of finance officers and CPAs can play a key role in working with their state universities and the national affiliates.

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Going Concern

AUGUST 25, 2023

News US Accounting Board Looks Across the Ocean to Fill Hole in Rules [ Bloomberg Tax ] The flood of government aid that helped keep companies afloat during the coronavirus pandemic exposed a hole in US accounting rules: Businesses have no way to record the grants, loans, and tax breaks that bolstered their bottom lines.

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CPA Practice

JULY 27, 2023

Likewise, if you have an active CAS (Client Accounting Services) practice, consider what AI could do for you and your clients in this area. Similarly, the same is true for Advisory, Audit, Wealth Management, Litigation Support, or any other areas where you routinely provide services.

Technology 98

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Cherry Bekaert

APRIL 3, 2023

As such, the American Institute of Certified Public Accountants (AICPA) replaced prior SAS 70 and SSAE16 audits, as well as Webtrust and Systrust reports/seals, with a set of standards referred to as the Statement on Standards for Attestation Engagements No. 18 (SSAE 18) and No.

financial statements 75

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Withum

JULY 11, 2023

Government regulators, financial auditors, potential investors, and acquirers all require robust and transparent ESG data captured directly from mine sites. International accounting standards will require sustainability disclosure alongside finance statements.

international accounting standards 40

international accounting standards Technology audit accounting standards 40

Baruch Lev

NOVEMBER 11, 2021

He was last on back in July 2016 and we discussed his book, The End of Accounting and the Path Forward for Investors and Managers. We talk more about that book and his more recent article in Accounting Today, The sad state of accounting standards. Would society be better off without auditing? Excellent, Baruch.

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ThomsonReuters

JANUARY 18, 2024

In general, an accountant’s job description includes common accounting tasks such as: Performing risk analysis evaluations. Working with external auditors. Responsibilities around AI in accounting Further illustrating this point are the advancements in innovative technology, such as AI, and its impact on the profession.

Account 59

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Snyder

NOVEMBER 22, 2022

Accepted accounting principles: Generally Accepted Principles vs International Financial Reporting Standards. The Financial Accounting Standards Board ( FASB ) is the authoritative source of guidance for private companies, non-profit organizations and other industry groups when it comes to setting accounting principles.

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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. Last month, reports emerged that U.K.

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PYMNTS

JANUARY 10, 2019

According to IFAC, incorporating accountants and finance departments in a firm’s risk management strategy can be a critical component of helping businesses understand that risk management is not only about avoiding risky situations, but also aiding in the development of business strategy and identifying opportunity.

Finance 74

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