accounting
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Companies Face Stricter Supply Finance Disclosures After Greensill Collapse
Date: May 25, 2023
LONDON (Reuters) – Companies will have to disclose details of loans for paying suppliers from January 2024, a global accounting standard setting body said on Thursday, drawing lessons from the collapse of Greensill Capital. The International Accounting Standards Board (IASB) said companies will have to disclose the terms and conditions, amount of liabilities, ranges of...
Dealing With the Problem of Email Burnout in Accountancy Firms
Date: May 15, 2023
Dealing with the problem of email burnout in accountancy firms By Wayne Pope, Founder and CTO of award-winning Glasscubes The average office worker receives 121 emails and sends about 40 every day, according to DMR. It’s even worse for accountants, however, who have to deal with huge amounts of enquiries on a daily basis. Consequently,...
German Regulator Hands Ey 2-year Audit Ban Over Wirecard Scandal – Handelsblatt
Date: April 3, 2023
BERLIN (Reuters) – German accounting watchdog APAS has banned EY from taking on new audits for companies of public interest for two years and handed the firm a 500,000 euro ($541,650.00) fine, German business daily Handelsblatt reported on Monday. APAS declined to comment on the matter. The regulator is expected to release a statement on...
Kpmg Stands by Audits of Silicon Valley Bank and Signature Bank – Ft
Date: March 15, 2023
(Reuters) – KPMG’s U.S. boss, Paul Knopp, said the accounting firm stood behind its audits of Silicon Valley Bank and Signature Bank, the Financial Times reported on Tuesday. Knopp said KPMG’s audit work considered all the facts available at the time and that “market-driven events” in the intervening days led to the banks’ failures, the...
PwC Hit With $8.9 Million Penalty for ‘serious Breaches’ on Babcock Audits
Date: March 9, 2023
By Iain Withers LONDON (Reuters) -Britain’s auditing watchdog has imposed a 7.5 million pound ($8.9 million) penalty on PwC for “serious breaches” found in audits of engineer Babcock International, the regulator said on Wednesday. The Financial Reporting Council (FRC) said the penalties related to failings on audits of Babcock’s accounts up to the end of...
How Your Financial Team Can Become a Revenue Driver
Date: January 23, 2023
By: Mark Gilham, Director & Evangelist at Enable The word “accounting” usually calls to mind a long list of reluctant necessities: annual financial statements, tax returns, compliance reports, audits, and so on. Generating and analyzing this information is vital to monitor the financial health of a company, raise capital, and keep investors informed. But supply chain leaders...