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Accounting Expertise In C-Suite Can Compromise Financial Reports

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It’s common sense that a corporation would want its C-Suite to have some knowledge of accounting practices, and one could assume that a lack of understanding of corporate accounting may heighten the risk for misstatements on financial reports.

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UK Financial Reporting Group Says Blockchain Too Immature For Adoption

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Financial Reporting Council’s Financial Reporting Lab has released a new report on the potential applications of blockchain in the corporate accounting space. According to reports, the group is taking a cautious approach to the technology.

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Pulling Back The Curtain On Corporate Finance Reports

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Corporate accounting standards are changing, with the Financial Accounting Standards Board adopting new standards in ways companies report on leases, hedging and other financial activity. Last October, the U.S. Transparency Initiatives Falling Short?

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Number Of Corporate Accounting Errors Unexpectedly Climbs

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A research firm has discovered that the number of material accounting mistakes made by U.S. listed companies since 2005, finding firms that had to reissue their financials due to errors. For many, the mistakes were discovered when corporate finance teams were changing accounting paperwork to comply with the new U.S.

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CFOs, Buried In Data, Struggle With Financial Reports

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CFOs are struggling to keep up with how quickly the requirements for financial reporting are changing, researchers have found. EY researchers released new data this week that concluded CFOs and financial controllers are struggling to keep up with the pace of change when it comes to corporate reporting standards and demands.

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Head Of UK’s Financial Reporting Council Quits Amid Scrutiny

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s Financial Reporting Council is reportedly stepping down from the position amid continued scrutiny that the FRC lacks effectiveness to prevent corporate accounting scandals and industry failures. Reports in Reuters on Friday (Nov. The head of the U.K.’s Sir John Kingman, a civil servant asked by U.K.

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Banks, Businesses Brace For Far-Reaching Accounting Standard Changes

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Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.