PYMNTS

NOVEMBER 8, 2016

In a move that helps cement B2B payments within the realm of secure transactions, PayStand, a B2B payment and billing company, has given firms the ability to notarize and also certify payments across the supply chain. Blockchain. It’s not just for banks anymore. Most recordkeeping, he said, remains tied to paper and email.

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B2B auditor audit Finance 72

PYMNTS

MAY 28, 2019

Reports said the FRC also intends to heighten its scrutiny of auditor governance and leadership, risk mitigation processes, control and overall behavior. The FRC has already increased the number of audit quality reviews from 126 in 2014 to 160 in fiscal year 2018.

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auditor audit Construction corporate accounting 40

PYMNTS

NOVEMBER 2, 2020

Palette lets these companies take in bill data from vendors quickly, process invoices with an automated flow for approvals and offers a trail that auditors can look at. In separate news, Palette Software introduced AP automation technology that is meant for companies in the engineering and construction spaces, per news in August.

AP Automation 56

AP Automation Technology Approval Workflows AP Processes 56

Going Concern

DECEMBER 1, 2023

How Deloitte gave AR postcards the personal touch [ The Drum ] Deloitte has won the Print category at The Drum Awards for B2B. Then an auditor will come in and charge as much as we do and only do one-tenth of the work. million in fines the PCAOB has hit auditors with in calendar year 2023. And at 8.5%, even fewer are Black.

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cpas audit auditor CPA 104

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AUGUST 17, 2018

B2B FinTech is undoubtedly a hot spot for venture capitalists (VCs) this year. However, this summer, a different kind of B2B startup has captured investors’ attention. AuditBoard’s technology helps organizations and their auditors manage risk mitigation and compliance efforts.

B2B 40

B2B audit auditor Finance 40

PYMNTS

SEPTEMBER 14, 2020

Deloitte will be the first of the “Big Four” auditors to break up its business after selecting a new auditing board to undertake the task, according to a report from The Telegraph. On Friday (Sept. 11), Deloitte revealed it had set up an audit governance board to help to eventually separate the audit division from the rest of the company.

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JUNE 11, 2020

That means significant implications for the ways accountants and auditors operate both within an enterprise and externally from it. The key drivers of that transformation include technology, as well as a heightened need for auditors, accountants and their clients to foster a collaborative ecosystem, he said.

corporate accounting 77

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PYMNTS

JULY 2, 2020

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. Many are now debating the role of auditors in fraud mitigation. billion Wirecard AG fraud fiasco.

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JUNE 5, 2020

CaseWare International ‘s new technology will attempt to let accountants and auditors work better with customers, particularly as the world emerges from the coronavirus pandemic. And errors are done away with through automatic updates of information, the press release states.

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PYMNTS

NOVEMBER 14, 2018

Over the fall season, the country’s fourth-largest bank, Kasikornbank , said it partnered with Visa ‘s B2B Connect program to use blockchain in conjunction with cross-border payments. The auditor] also confirmed that data has been encrypted, that no other data has been stored and that all data is up to date.”

Tax 56

Tax Agriculture auditor B2B 56

PYMNTS

MAY 4, 2020

Auditors or verification officers will be able to monitor the KYC processes on a dashboard, the company said. The pandemic has seen companies working to tackle cross-border B2B payment issues, a challenge now that travel is almost completely locked down.

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auditor B2B Technology Sales 52

PYMNTS

OCTOBER 29, 2020

But FT reported that the firm’s auditor has been Saffery Champness instead of one of the Big Four accounting groups — Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers. Officials at SoftBank pushed Greensill to have a bigger and more renown group as its auditor, FT reported, citing unnamed sources.

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PYMNTS

AUGUST 12, 2020

Palette allows these firms to ingest invoice information from suppliers in an expedient fashion, handle invoices with an automated process for approvals, and provides a trail that auditors can examine. Administrators can also provide some access to the search system to auditors.

AP Automation 69

AP Automation Construction Technology accounts payable 69

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. 34 percent of furloughed employees were asked to commit furlough fraud , according to a survey from U.K. .

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PYMNTS

JANUARY 13, 2020

Trade finance remains an essential tool for cross-border B2B trade, and with an estimated $1.5 Furthermore, with analysts and regulators around the world placing greater scrutiny on certain trade finance solutions, B2B traders can face even greater uncertainty over how to finance transactions (responsibly).

Finance 56

Finance accounting and finance Non-Profits B2B 56

PYMNTS

JANUARY 2, 2020

However, many more jobs will be created, as accountants and auditors have a wealth of more information available to them: They can now check all of a company’s transactions in real time, with data analytics allowing them to spot trends and anomalies,” Vaidyanathan said. The new rules will also shorten the “look-back” period that U.S.

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Technology auditor accounting and finance accounting standards 71

PYMNTS

DECEMBER 27, 2019

The collapses raised concerns that auditors failed to detect financial troubles in corporates’ books — and ignited a debate over whether auditors are responsible for discovering potential signs of impending collapse, or even fraud. Now, auditing giants are bracing for even more fines. Insolvency Service.

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PYMNTS

OCTOBER 1, 2019

auditors than are currently mandated under international standards. According to reports, the FRC issued an updated going concern standard, adding “significantly stronger requirements” for U.K. The FTC has also reportedly been in communication with its counterparts in Australia, Canada and Japan to support the revisions.

accounting standards 51

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PYMNTS

JUNE 6, 2019

PwC is reportedly planning to ramp up its auditing operations by hiring 500 more auditors across the U.K., ” The auditor’s efforts follow KPMG’s previous announcement that it has ramped up oversight of its U.K. reports in Reuters said on Wednesday (June 5).

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PYMNTS

MAY 6, 2019

The West Virginia State Auditor’ s office has announced a new tax program aimed at vendors who owe the state money. The number of vendors to be included in the intercept routine will gradually get larger until all vendors are included,” State Auditor John B. “The McCuskey said in a press release.

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Virginia West Virginia Tax auditor 43

PYMNTS

NOVEMBER 26, 2018

A new report suggested a surprising correlation between executives’ accounting expertise and the risk of those misstatements, and researchers said the findings could be key to auditors , financial regulators and corporate directors. In their “Do Auditors Recognize the Potential Dark Side of Executives’ Accounting Competence?”

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PYMNTS

AUGUST 6, 2019

A recent survey of 600 industrial buyers in China, Japan and Thailand revealed that companies often value their offline B2B relationships just as much as their digital ones, a finding by UPS Inc. that could signal reluctance for B2B procurement to make the digital shift. Additionally, reports on Monday (Aug.

Government 43

Government B2B auditor Washington 43

Acterys

JANUARY 24, 2023

Perform self-audit SOC 2 compliance is certified by external auditors. Involve external auditor and complete compliance The next step is to engage an auditing firm to conduct an independent assessment of the organization’s controls and processes. Simply put, the process has the following four steps: 1.

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auditor audit Technology public accounting 26

PYMNTS

JULY 11, 2019

It marks the second year in a row that the Big Four failed the auditing test, while second-tier auditors Grant Thornton, BDO and Mazars also all failed to hit the FRC’s target that 90 percent of audits require only limited improvements. Grant Thornton was the auditor for scandal-ridden cafe chain Patisserie Valerie. All of the U.K.’s

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PYMNTS

APRIL 15, 2019

For its part, KPMG was the auditor of Kobenhavns Andelskasse, a small Danish lender shut down last year due to concerns it was used to launder money. She noted that the company believes it has “lived up to” its role as an auditor.

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auditor audit accounting firms Account 70

PYMNTS

AUGUST 8, 2018

Criticism has mounted against the FRC in the wake of the collapse of government contracting giant Carillion — policymakers question how the government was unable to prevent its auditor, KPMG, from identifying Carillion’s accounting failures. The IoD says the same should be done to the FRC.

Government 40

Government auditor audit Account 40

PYMNTS

NOVEMBER 2, 2018

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm. Those items, per the auditor statement, were not allowed under the university’s procard policies.

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auditor audit Massachusetts Florida 67

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

APRIL 29, 2019

million after filing false financial statements and lying to auditors. In addition, some of the company’s quality-management executives allegedly lied to independent auditors in early 2017. As a result, the auditor was unable to sign off on Celadon’s previous financial statements.

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auditor Account accountant accounted 43

PYMNTS

MARCH 13, 2018

The IFIAR said the most common issue identified in its inspections was a failure by auditors to “assess the reasonableness assumptions,” followed by a failure among auditors to “sufficiently test the accuracy and completeness of data or reports produced by management.”. Among those failures: Carillion , the now-defunct U.K.

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audit auditor Account accountant 44

PYMNTS

FEBRUARY 6, 2020

That makes this B2B relationship unique to buyer-supplier relationships in other industries, noted Pierce, introducing similarly unique financial arrangements between partners. “You’ll start to see things like alternative fee arrangements rather than hourly billing for legal work, which is the traditional model,” he said.

Legal 52

Legal accounts payable accounting and finance Finance 52

PYMNTS

JULY 23, 2019

The CCI should look into the dominance of these four global auditors and whether they are thwarting competition.”. Last month, PwC announced it would add 500 more auditors and deploy a digital audit team to strengthen reviews of existing clients. Prior, KPMG announced plans to heighten oversight of U.K.

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Account accountant accounted auditor 43

PYMNTS

NOVEMBER 13, 2018

Other recent accounting scandals at retailer BHS and Patisserie Valerie have similarly raised concerns that auditors are unable to adequately identify accounting issues at major corporations before it’s too late. The Big Four’s overwhelming market domination has failed to deliver audits which are fit for purpose.”.

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audit cma auditor Construction 49

PYMNTS

AUGUST 21, 2018

. “Ethical standards are critical in supporting the confidence that third-party users can reasonably have in financial statements in circumstances where, of necessity, they only have incomplete information to judge whether the auditor is, in fact, objective,” said FRC Interim Executive Council Claudia Mortimore in a statement.

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auditor audit financial statements accounting and finance 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.

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audit Indiana auditor Account 63

PYMNTS

OCTOBER 26, 2018

It was a good week for wearables and their future, as the devices continued to show indications of strong promise on the B2C and B2B fronts. Wearables also got a B2B showcase this week, with Samsung and HSBC rolling out S3 gear at the bank’s flagship Fifth Avenue location.

B2C 53

B2C B2B auditor Healthcare 53

PYMNTS

NOVEMBER 10, 2017

Part of the reason why these scenarios carry on undetected is because the traditional process by which auditors seek out and identify fraud or mistakes is massively burdensome, the CEO said. Kale said many of these tools are coming in from the consumer world as more innovators wield these technologies’ power for B2B use cases.

accounts payable 44

accounts payable Expense Management audit Technology 44