PYMNTS

JUNE 4, 2020

The International Accounting Standards Board introduced a significant overhaul to lease accounting standards , and while the changes went into effect at the start of 2019, corporates continue to face challenges to adhere to the standards and remain compliant. In the U.S.,

Real Estate

PYMNTS

SEPTEMBER 28, 2018

It has set its eyes on B2B payments in order to allow corporates to pay their utility bills and other invoices. It was facing a delay from the country’s government for the planned nationwide launch of the WhatsApp payment service in India. Infibeam isn’t just about retail.

B2B

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. ” Meanwhile, previous research from Audit Analytics has also revealed that the number of accounting errors among the U.S.’s

Finance

PYMNTS

AUGUST 1, 2019

s Big Four corporate accountancy and auditing firms — Deloitte, PwC, KPMG and EY — saw nearly three times as many fines last year as they did in 2017, according to the Financial Times. million, respectively, once accounting for settlement discounts). million and $15.8

accounted

PYMNTS

JULY 17, 2019

That finance provider makes money when the B2B customer pays off the full amount of the invoice, while suppliers are able to accelerate their cash flows amid longer payment terms in the global trading environment. It was never intended to help giant corporations rip off their suppliers,” she wrote.

Finance

PYMNTS

MAY 10, 2018

Businesses are largely behind the push, with government initiatives promoting a digital economy and FinTech innovators targeting corporate payments and finance in addition to their consumer-focused endeavors. In FY2012, corporate lending accounted for half of banks’ revenues linked to advances or income interest, reports said.

accounting and finance

PYMNTS

DECEMBER 7, 2018

Separate reports on Thursday in AccountingToday said the nation’s top auditors, including KPMG and PwC, have been urged to improve their corporate accounting processes, with the U.K.’s

accounted

PYMNTS

JUNE 26, 2020

. “Small businesses in particular need cash flow forecasting, financial resiliency planning, advice on payment scheduling as well as consulting on applying for available government help. ” Supporting an Accounting Shift. All of these things require reliable data in real time.”

accounted

PYMNTS

MAY 17, 2018

government released its report into the Carillion fiasco and it’s damning, to say the least – though not unexpected. Since the collapse of Carillion , once the nation’s second-largest construction company and a massive government supplier, fingers have been pointed in all directions. The Government’s Report.

audit

PYMNTS

MAY 21, 2018

“Accounting regulation reviews need expert knowledge of its local and global history and failures, and the critical challenges of corporate accountability in an arena dominated by Big Four firms. lender HBOS and, more recently, the collapse of government construction contractor Carillion.

accounted

PYMNTS

MAY 28, 2019

financial watchdogs have stepped up their oversight of the accounting and auditing industry amid a string of corporate accounting scandals, collapses and questions over the dominance of the Big Four auditing firms. The FRC has already increased the number of audit quality reviews from 126 in 2014 to 160 in fiscal year 2018.

auditor

PYMNTS

AUGUST 1, 2018

According to the analytics firm, there is a trade finance-related corporate accounting loophole that may be widespread in the U.S. Fitch warned that this classification allows corporate buyers to operate with a lack of transparency in their finances. and Europe, and it could be contributing to longer supplier payment terms.

Finance

PYMNTS

DECEMBER 27, 2019

In the year ahead, the Financial Reporting Council (FRC) is set to be replaced by a more powerful regulator, the Audit, Reporting and Governance Authority, in the government’s efforts to ramp up pressure on the auditing industry. government issued a combined $56.29 In the year to April 2019, the U.K. Insolvency Service.

auditor

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.

auditor

PYMNTS

MAY 11, 2018

The Australian government is planning to cut funding for its corporate watchdog, despite the regulator warning that a lack of resources has already limited its effectiveness. Such banks included the Commonwealth Bank of Australia, which was announced in the Commission’s preliminary findings of the investigation.

Government

PYMNTS

OCTOBER 9, 2018

” In a statement responding to the government’s review of the watchdog, BlackRock said there should be no “wholesale changes” to the FRC. . “They have gone down a long way in my estimation.”

auditor

PYMNTS

AUGUST 6, 2018

As reported last week, Fitch said a loophole tied to corporate accounting exists, one which opens the door to longer payment terms. We are urging the government to put in place project bank accounts on all public sector projects. The impact of late payments has been strong enough to merit a warning from Fitch Ratings.

Finance

PYMNTS

MARCH 13, 2019

government is readying to create a new accounting and auditing watchdog after months of scrutiny that the current regulatory landscape has failed to prevent accounting scandals and protect customers. “The U.K. “The U.K.

accounted

PYMNTS

MAY 17, 2018

Reports pointed to research from the Japan Association for Chief Financial Officers released last year, which found nearly three-quarters of CFOs had either seen or heard of “inappropriate” actions related to accounting fraud or embezzlement. Meanwhile, Prime Minister Shinz?

Government

PYMNTS

AUGUST 21, 2018

.” The FRC slapped KPMG with a nearly $4 million fine earlier this year for 2013 audits of Quindell, and soon followed up with a warning for the accounting and auditing firm. KPMG has also been criticized for its audit of Carillion and failing to predict the government contractor’s eventual collapse. government. .

auditor

PYMNTS

APRIL 18, 2018

A slew of accounting scandals in the U.K. has led the government to launch an inquiry into the powers of the Financial Reporting Council (FRC), the government watchdog aimed at overseeing auditing and accounting practices in the country. Reports in Reuters this week said the U.K.

accounted

PYMNTS

JUNE 18, 2019

government’s Public Company Accounting Oversight Board. Earlier this month India moved to ban a KPMG affiliate, as well as Deloitte Haskins & Sells, for five years after a government probe into Leasing & Financial Services uncovered evidence of fraud. Both auditing firms deny any wrongdoing. In the U.K.,

audit

PYMNTS

MARCH 13, 2018

The publication said the IFIAR’s conclusions add to skepticism over the reliability of major accounting and auditing firms around the world, following the high-profile collapse of several conglomerates due to accounting failures. government contractor and Brazil oil giant Petrobras. In the U.K.

audit

PYMNTS

NOVEMBER 4, 2019

lawmakers are calling for new legislation that would ensure auditors and accountants are better able to identify and call out issues within their clients’ finances as the government works to avoid more high-profile corporate collapses. Finance U.K. reported on Monday (Nov. She added that the U.K.

audit

PYMNTS

JUNE 20, 2018

Scrutiny of the FRC ramped up earlier this year, following a government probe into the collapse of contractor Carillion. The watchdog and the nation’s pensions regulator were “united in their feebleness and timidity,” a U.K.

institute of chartered accountants

PYMNTS

AUGUST 7, 2019

The Parliamentary Joint Committee on Corporations and Financial Services is being pressed by some to investigate those claims and examine the state of the auditing industry overall. “We

auditor

PYMNTS

MARCH 17, 2017

Meanwhile, National Association of Corporate Directors President and CEO Peter Gleason said “the sharing of leading governance practices is an essential element of effective board leadership.”. “Successfully battling fraud in financial reporting requires strong collaboration among all the principal players,” he said.

auditor

PYMNTS

JUNE 30, 2016

government and the practicalities of Brexit will leave many companies facing a number of challenges and opportunities,” said Reval Solutions Consultant Jacqui Drew in a statement last week, adding that businesses must have a strategy in place that includes scenario planning to help a company navigate through such a tumultuous period.

accounting and finance