Reverse Factoring Intensifies The B2B Late Payments Debate

PYMNTS

The Big Four auditing firms — EY, Deloitte, KPMG and PwC — have recently requested that the Financial Accounting Standards Board (FASB) provide clarity in how corporates should classify their reverse factoring or supply chain financing agreements, adding more fuel to a long-standing debate as to whether such trade financing tools are debt. Scottish Firms Fair Non-Payment.

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Business Leaders Chosen To Scrutinize UK Accounting Watchdog

PYMNTS

have been chosen to lead the inquiry into the nation’s accounting watchdog and assess whether the body is effective at identifying and preventing accounting issues. M&G chief executive Anne Richards, HM Treasury non-executive director and deputy chair of Kinnevik Amelia Fawcett, and former audit partner at PwC and former chair of the Accounting Standard Board Mary Keegan are all on the panel. A group of 11 business executives in the U.K.

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More firms obtain independent assurance on ESG data

Future CFO

The number of global companies obtaining independent assurance on their ESG information increased from 51% to 58% in 2020, compared to the previous year, said the International Federation of Accountants ( IFAC ) recently.

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Fund Accounting for Nonprofits & Charities

The Charity CFO

And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face. This accounting system is called fund accounting. Who’s Required to Use Fund Accounting? . What is fund accounting? .

KPMG, PwC, EY To Put $9B Toward AI, Data Tech

PYMNTS

The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax.

How Finance Departments Can Mold Risk Mitigation Into Opportunity

PYMNTS

The enterprise is exposed to financial risks at just about every angle, with expansion across borders and into partnerships with unfamiliar firms upping the ante on both risk and reward. Now, analysts at the International Federation of Accountants (IFAC) are urging ERM to move beyond the c-suite. B2B Payments B2B corporate finance enterprise risk International Federation of Accountants News risk management