PYMNTS

SEPTEMBER 15, 2020

EY’s global chairman and CEO has expressed regret over the accounting firm’s failure to uncover fraud sooner at Wirecard AG , the bankrupt German payment company. Marc Liebscher, a lawyer with the Berlin firm representing Wirecard investors, called EY’s auditing “a disaster” and said the firm should stand trial.

Auditing 72

Auditing Accounting Firms eCommerce Securities 72

PYMNTS

JUNE 18, 2019

Corporate auditing and accounting firm KPMG remains in the crosshairs of regulators in various parts of the globe. where the Securities and Exchange Commission (SEC) has settled its case with KPMG for $50 million. government’s Public Company Accounting Oversight Board. Both auditing firms deny any wrongdoing.

Auditing 46

Auditing Compliance Accounting Accounting Firms 46

The Charity CFO

APRIL 18, 2024

These challenges include financial issues, data security compliance, and talent retention problems. Financial Sustainability For nonprofits, financial sustainability means the financial security to cover expenses and advance your mission. Implement staff and volunteer training on security best practices.

Nonprofit 52

Nonprofit Compliance CFO Leverage 52

PYMNTS

DECEMBER 7, 2020

Plus, Pioneer Bank sues over MyPayrollHR scandal, Procurement Partners secures new funding, and ImagineTime partners on FinTech for accountants. Through 100 percent invoice integration, the service boasts improvements to savings, and offers a compliance audit feature that can help vendors cut spending.

B2B 63

B2B Finance Practice Management Invoicing 63

CFO News Room

NOVEMBER 14, 2022

accounting regulators to inspect China-based audits is raising questions about the role of unregistered auditors in the Chinese gambling enclave of Macau, where several U.S.-listed audit watchdog. audit watchdog. A recent agreement between Washington and China allowing U.S. listed casino businesses operate.

Auditing 100

Auditing CFO Accounting Corporate Finance 100

PYMNTS

JANUARY 2, 2020

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.

Data Analysis 71

Data Analysis Accounting Standards Auditing Invoicing 71

PYMNTS

JULY 19, 2020

Wirecard AG’s accounting firm said an independent report failed to account for half of the German payment company’s revenue and all its operating profit, the Financial Times (FT) reported. .

Auditing 61

Auditing Accounting Firms Manufacturing Accounting 61

CFO News Room

DECEMBER 16, 2022

Job security is always a concern when choosing a career, but some fields are more recession-proof than others. They may work in various industries, such as investment firms, accounting firms, banks, or the government. IT auditors typically have computer science, information systems, or accounting degrees.

Finance 130

Finance Budgeting Compliance Financial Analyst 130

PYMNTS

OCTOBER 6, 2016

They can then be audited and synchronized with accounting platform Sage Live, helping businesses to keep better track of their financial comings and goings. Entryless makes electronic B2B payments faster, easier and more secure. Bills are synchronized automatically, and suppliers can then be paid.

B2C 75

B2C Auditing B2B Invoicing 75

PYMNTS

SEPTEMBER 18, 2020

Deloitte will be the first of the “Big Four” accounting firms to break up its business following the selection of a new auditing board. The firm, in addition to KPMG, EY and PwC, had been cautioned by regulators that their companies had to break off their consulting divisions from their audit arms. In the U.S.,

Auditing 56

Auditing eCommerce Sales Accounting Firms 56

PYMNTS

JUNE 26, 2020

Ernst & Young (EY), the auditing team hired by Wirecard, is facing questions after sources said the global accounting firm failed to verify Wirecard’s financials. “This now means customer money cannot be accessed. Our primary objective is to protect the interests and money of consumers who use Wirecard.”.

Auditing 68

Auditing Accounting Firms Accounting Banking 68

CFO Share

MAY 25, 2021

Proper payroll accounting system includes: . Routine payroll audits. Physical security such as locked doors, cameras, badge readers and visitor management systems. Tax enforcement is on the rise, increasing the risk of an audit finding. If inventory is never audited, this employee fraud will go undetected.

Auditing 52

Auditing Accounting Manufacturing Education 52

The Charity CFO

OCTOBER 4, 2022

That doesn’t mean that the operations manager needs to be an accountant. Generally, they’ll oversee the accounting team or work as a liaison with an outsourced accounting firm. But ultimately, they are responsible for ensuring that the accounting work is done correctly and on time.

Nonprofit 98

Nonprofit Budgeting Compliance CFO 98

PYMNTS

JANUARY 9, 2019

Separate reports from The Wall Street Journal ( WSJ ), published last April, also demonstrated the changing nature of corporate finance: While the Big Four accounting firms’ advisory and consulting revenue jumped by a combined 44 percent since 2012, revenue from straightforward auditing for the firms rose just 3 percent in that time.

Accounting 71

Accounting Corporate Finance Accounting Firms Auditing 71

PYMNTS

JULY 5, 2017

“Although security is one of the biggest concerns for organizations that consider the move to the cloud, I believe that the cloud can be secured better than on-premise solutions.” The nature of financial reporting is to communicate facts aggregated using accounting rules. But data can quickly turn into a burden.

Financial Data 52

Financial Data Auditing Financial Reporting CFO 52

PYMNTS

OCTOBER 31, 2016

Elizabeth Warren (D-MA) has reportedly sent a letter to KPMG, Wells Fargo’s auditor, questioning why the accounting firm did not catch the fake accounts that resulted in $185 million in fines for Wells Fargo. Warren in the letter. Other senators joining Sen.

Accounting 59

Accounting Auditing Accounting Firms Banking 59

Finvisage

DECEMBER 31, 2019

Accountancy firm PwC is reported to have been hired by the company to look at its accounts, which are audited by Grant Thornton. Samsung Electronics’ unsecured financial data was shredded due to inadequate security measures. ” Eighth Samsung employee arrested over biotech fraud case.

Reconciliations 52

Reconciliations Financial Analysis Accounting Construction 52

PYMNTS

FEBRUARY 6, 2019

This shift has been so acute that small business cloud accounting firm Xero is even petitioning the Oxford English Dictionary to change the definition of “accountant” to one that includes the word “advise.”

Corporate Finance 74

Corporate Finance Accounting Finance Accounts Payable 74

BlueLight

JULY 30, 2020

Security and Audit ?—?NetSuite NetSuite role-based permission can be very granular and includes audit trails illustrating who made field level changes including before and after data element changes. Accounting ?—?Nearly Example accounting firms include Attivo Partners and Keating Consulting.

CFO 52

CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 52

The Charity CFO

APRIL 25, 2024

Instead of slow, paper-driven, backward-looking accounting, these organizations are moving quickly through digital integrations allowing them to focus on their core responsibilities. About The Charity CFO The Charity CFO is an accounting firm specializing in serving nonprofits through outsourced accounting and fractional CFO services.

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

CFO News Room

NOVEMBER 15, 2022

I think the biggest thing that started it was when we would have our branch audits, we never had any feedback about something on the RIA side. Because if you want to accommodate holding an existing stock position that isn’t being traded, just you need a framework to literally have a non-traded account. Or, where’s this?

Planning 130

Planning Accounting Compliance Math 130

PYMNTS

SEPTEMBER 30, 2020

One day after an Ernst & Young ( EY ) whistleblower’s warning about potential fraud at Wirecard was made public, the global accounting firm is facing backlash, the Financial Times (FT) reported. Details of the allegations were included in an unpublished section of a special audit into Wirecard by KPMG. On Tuesday (Sept.

Auditing 94

Auditing Accounting Firms Accounting Banking 94

PYMNTS

JULY 29, 2020

As a result of the alleged misconduct, one of the biggest in post-war history, Scholz said financial oversight must be strengthened and auditing rules reformed, Reuters reported. He noted that a big, internationally renowned accounting firm had not detected the irregularities at Wirecard for many years, alluding to Ernst & Young.

Finance 57

Finance Auditing Securities Accounting Firms 57

PYMNTS

NOVEMBER 20, 2020

29, it was revealed that an EY auditor alleged the global accounting firm was warned as far back as 2016 that senior managers at the German payments company may have committed fraud and that one had tried to bribe an auditor, according to FT.

Auditing 56

Auditing Accounting Firms Accounting Banking 56

Barry Ritholtz

JULY 18, 2023

WAGNER: Yeah, I started as a certified public accountant and one of the early engagements that I was tasked with was in the space of asset management and I recall doing the audit on Jeffrey Vinik’s very first year as a hedge fund manager. So I had a lot of job security. RITHOLTZ: Post-fidelity, post-Magellan fund.

Investments 52

Investments Profit and Loss Restructuring Accounting 52