Finance and accounting is increasingly relied on to provide support regarding companies’ ESG disclosures without being granted additional resources. Technology that enables automation serves as a solution to reduce this burden.
Accounting & Auditing
Posted inAccounting & Auditing
U.K. corporate governance reforms target resilience, fraud assessment
The United Kingdom introduced for debate corporate reporting reforms that would require the country’s largest companies to set out their risk management and resilience strategies as part of required annual reporting.
Posted inAccounting & Auditing
PCAOB general counsel to depart
The Public Company Accounting Oversight Board announced the departure of Kenneth Lench as general counsel.
Posted inAccounting & Auditing
PCAOB penalizes CohnReznick for late disclosure of SEC fine
Audit firm CohnReznick agreed to pay a $20,000 fine levied by the Public Company Accounting Oversight Board for allegedly disclosing late a penalty it received from the Securities and Exchange Commission.
Posted inAccounting & Auditing
ADT discloses ICFR weaknesses related to impairment calculations
Home security company ADT said it will restate several of its recent financial statements after discovering errors in its calculation of goodwill impairment losses at its solar reporting unit.
Posted inAccounting & Auditing
FRC 2022/23 audit inspections: Big Four steady; BDO and Mazars improve
The U.K. Financial Reporting Council noted overall improvement in annual inspection and supervision results for the largest audit firms for a fourth consecutive year as part of its latest quality review.
Posted inAccounting & Auditing
SEC orders Future FinTech Group to pay $1.65M over accounting lapses
Future FinTech Group agreed to pay $1.65 million to settle charges levied by the Securities and Exchange Commission for filing materially inaccurate annual reports and failing to maintain adequate books, records, and internal control over financial reporting.
Posted inAccounting & Auditing
Smart window-maker View avoids penalty in liability disclosure case
View, a California-based manufacturer of smart windows, avoided civil penalties after self-reporting apparent disclosure violations to the Securities and Exchange Commission.
Posted inAccounting & Auditing
PwC Australia removes chief risk officer after tax scandal review
PwC Australia exited eight partners, including its former chief risk and reputation officer, following an investigation into the sharing of confidential government tax policy information at the firm.
Posted inAccounting & Auditing
PwC, KPMG fined over audit lapses at Eddie Stobart Logistics
The U.K. Financial Reporting Council separately penalized Big Four audit firms PwC and KPMG for deficiencies in their work at transport company Eddie Stobart Logistics for the financial years ended 2018 and 2017, respectively.