All Accounting & Auditing articles – Page 37
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Article
Genesco names new chief accounting officer, general counsel
Genesco, a specialty retailer, has announced several executive leadership moves in the last few weeks, including the appointment of a new chief accounting officer and a new general counsel.
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Article
DaVita names chief accounting officer
Healthcare provider DaVita has named John Winstel as chief accounting officer. He will succeed Jim Hilger in this role, who will be stepping down early next year, no later than March 3, 2020.
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ArticleUnder Armour facing SEC, DOJ accountancy probes
Following disclosure of the federal government’s investigation into allegations of sales manipulation dating back to 2017, sports apparel company Under Armour maintains its accounting practices are “appropriate.”
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ArticleIFAC: Strong support for international accounting standards
A first-of-its-kind report from the International Federation of Accountants shows “strong and sustained support” for both the adoption and implementation of international standards.
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Resourcee-Book: Light at the end of the tunnel for lease accounting?
New deadlines for the lease accounting standard have given companies more time to overcome implementation and adoption challenges.
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ArticleFRC reveals key trends in U.K. accountancy profession
A new report from the U.K.’s Financial Reporting Council says the Big Four increased their combined “total fee income” by 4.7 percent—even amid a year fraught with accounting scandal.
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ArticlePCAOB sanctions Deloitte, BDO affiliates
The PCAOB, recently under fire for its lack of enforcement, has imposed sanctions on Deloitte Korea and BDO Mexico for altering audit documentation in anticipation of inspections.
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ArticleMattel ousts CFO after accounting probe reveals weaknesses
Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.
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ArticleBig Four stranglehold on U.K. audit market widens
The Big Four’s dominance of the U.K. audit market has grown even further in the past year, according to the Financial Reporting Council’s latest report.
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ArticleEY accused in U.K. gold-laundering scheme
Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.
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ResourceWhite paper: The Case for a Comprehensive Equity Compensation Solution White Paper
Compensation structures continue to evolve, with new and added award types, a greater demand to tie pay to performance, more complex accounting, and more time being spent addressing participant questions and issues.
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ArticleUnethical practices at Infosys? SEC opens probe
The SEC has launched an investigation into Infosys based on an anonymous letter the agency received from several Infosys employees alleging CEO Salil Parekh forced them to engage in “disturbing unethical practices.”
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ArticleBig Four to FASB: Guidance needed on supplier financing arrangements
The Big Four accounting firms are asking FASB to provide guidance regarding the financial statement disclosures that should be provided by companies that have entered supplier finance programs involving their trade payables.
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Article
Senators call out SEC over PCAOB whistleblower report
A letter sent by two senators addressed to SEC Chairman Jay Clayton critiques the regulator’s oversight of the PCAOB as showing “questionable judgment and an alarming lack of transparency.”
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ArticleFASB announces upcoming CECL implementation workshops
FASB has announced upcoming workshops designed to help community banks and credit unions of all sizes implement the standard on current expected credit losses.
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Article
Micron appoints chief accounting officer
Micron Technology has appointed Paul Marosvari to the newly created role of vice president and chief accounting officer.
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ArticleFASB votes to approve standard delays, including CECL
FASB has voted to approve a previously proposed delay to its upcoming rule change for credit losses, in addition to standards for hedging and leasing.
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ArticlePCAOB swaps board members, faces whistleblower report
The SEC has ousted Kathleen Hamm as a board member at the PCAOB, replacing her with White House aide Rebekah Goshorn Jurata. The swap, along with a whistleblower report, signal internal strife at the audit regulator.
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ArticleEx-PCAOB leader gets prison time for role central to KPMG scandal
Former PCAOB Inspections Leader Jeffrey Wada was sentenced to nine months in prison for providing the confidential information central to the long-running KPMG inspections scandal.
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ArticleIRS updates guidance on tax treatment of virtual currencies
As part of a wider effort to assist taxpayers, the Internal Revenue Service has issued two new pieces of guidance for those who engage in transactions involving virtual currency.