Going Concern

OCTOBER 21, 2024

Financial reporting data has become extremely structured and repeatable across all enterprises because it’s guided by the standards set out through generally accepted accounting principles (GAAP), which are governed by the Financial Accounting Standards Board (FASB). Everybody measures the same things, in the same way.

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Going Concern

DECEMBER 22, 2023

Firm Watch Accounting firm BDO USA settles 401(k) lawsuit [ Pensions & Investments ] The accounting firm BDO USA LLP has agreed to settle a lawsuit by three former employees who alleged that the company and its fiduciaries mismanaged a 401(k) plan in violation of ERISA. Burned Investors Ask ‘Where Were the Auditors?’

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Going Concern

MAY 12, 2023

China’s Shift Away From Big Four Auditors Has EY Most Exposed [ Bloomberg ] Among the four biggest global accounting firms, Ernst & Young is likely to be the most exposed to Beijing’s crackdown on US-linked auditors, as it stands to lose about a 10th of its China revenue. 1, 2024, the Financial Accounting Foundation said.

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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. Accurately recognizing and reporting revenues can help businesses gain credibility with investors and creditors.

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Going Concern

AUGUST 2, 2024

Thai court orders class action against Deloitte over Stark fraud case [ Reuters ] A Thai court will allow a class action suit against the local arm of accounting firm Deloitte over its audit of scandal-hit Stark Corporation, it said in a document on Wednesday. PwC chief’s $1.2m

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Going Concern

JULY 15, 2022

Accounting watchdog fines Laura Ashley auditor over “serious” breaches [ AccountancyAge ] UHY Hacker Young, the auditor of the fashion retailer Laura Ashley which fell into administration amid the pandemic, has been “severely reprimanded” by the Financial Reporting Council (FRC) over “serious” breaches. stock exchanges.

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Going Concern

JUNE 21, 2024

Practice Accounting Guidance for ESG Projects & AI Usage in Auditing [ Resourceful Finance Pro ] In a matter of months, companies will possess first-ever guidelines for environmental credit accounting. Public and private firms will be required to follow one model for marking down projects like carbon dioxide offsets.

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