Austrian technology company S&T AG has ordered a forensic audit of its corporate structure and several recent acquisitions in response to allegations made by short seller Viceroy Research.
Accounting & Auditing
Posted inAccounting & Auditing
Should lawyers, accountants be filing more SARs?
A study of suspicious activity reporting data in the United Kingdom suggests accountants, lawyers, estate agents, and other service-facing professionals could be doing more to contribute to the fight against financial crime.
Posted inAccounting & Auditing
ISACA issues audit resources on SOX, VPNs, agile auditing
The ISACA, an international professional association focused on IT governance, released three new resources designed to assist audit professionals in enhancing their skills to meet the needs of the evolving audit landscape.
Posted inAccounting & Auditing
FASB proposal sets disclosure requirements for supplier finance programs
The Financial Accounting Standards Board issued a proposed update to its liabilities standard setting disclosure expectations for supplier finance programs.
Posted inAccounting & Auditing
Cybersecurity trends continue in 2021 audit committee transparency report
The most dramatic increase in audit committee disclosures in proxy statements for the second consecutive year was in responsibility for cybersecurity risk oversight, according to the latest report from the Center for Audit Quality and Audit Analytics.
Posted inAccounting & Auditing
Report: Restatements drop to record low in 2020
Financial statement restatements by public companies declined in 2020 to their lowest level in 20 years, according to the latest Audit Analytics study.
Posted inAccounting & Auditing
WEX fined $350K over ICFR weaknesses
Financial technology service provider WEX agreed to pay $350,000 as part of a settlement with the SEC regarding violations of internal accounting control provisions in the federal securities laws at its former Brazilian subsidiary.
Posted inAccounting & Auditing
SEC charges three EY employees with auditor independence violations
The Securities and Exchange Commission charged three Ernst & Young employees for violations of the agency’s auditor independence rules regarding services carried out at Cintas Corp. A former accountant at Cintas was also charged.
Posted inAccounting & Auditing
FRC 2022 reviews to focus on climate risks, fraud
The U.K. Financial Reporting Council will prioritize climate-related financial disclosures in company accounts and climate risks in audits as key areas of supervisory focus for 2022/23.
Posted inAccounting & Auditing
SEC staff stresses importance of fallback language in LIBOR transition
Companies looking to avoid running afoul of the SEC in their LIBOR transition efforts would be wise to include fallback language in their contracts and investments that reference the soon-expiring benchmark rate.
