Audit committee job creep taking its toll
CFO Dive
FEBRUARY 3, 2023
With internal audit committees biting off more than they can often chew, committee members across businesses are feeling the burnout
CFO Dive
FEBRUARY 3, 2023
With internal audit committees biting off more than they can often chew, committee members across businesses are feeling the burnout
CFO Dive
JANUARY 13, 2023
Audit committees are taking on more responsibilities as the SEC writes several rules requiring more detailed corporate disclosure
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CFO Dive
NOVEMBER 29, 2022
Chief audit executives struggle to fend off ransomware attacks as the tight labor market leaves them understaffed
CFO Dive
OCTOBER 19, 2022
The fine is the largest civil penalty levied against an individual by the federal audit watchdog since it was established in 2002
CFO Dive
DECEMBER 8, 2022
To avert flaws in reports, CFOs should keep auditors apprised of any big changes or new business risks and invest in internal controls
CFO Dive
OCTOBER 5, 2022
The watchdog for the firms that audit publicly-traded companies has intensified supervision in 2022, with plans to sharpen penalties against rule-breakers
CFO Dive
JANUARY 11, 2023
Ernst & Young is moving forward with a “soft separation” of its audit and consulting arms as they appoint Jamie Miller to the CFO seat of what will be a new public entity
CFO Dive
DECEMBER 15, 2022
The PCAOB’s push for more transparency in China-based companies will enable CFOs and auditors who heavily rely on Chinese firms to better understand their partners’ operations
CFO Dive
JANUARY 26, 2022
To the extent CFOs support the committees, they could be called on to help find experts to join, or present to, members who are tasked with preventing a damaging breach
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 rules, any audit firm that performs at least 20% of the audit work based on hours or fees is required to register with the Public Company Accounting Oversight Board, the U.S. audit watchdog. WSJ | CFO Journal. audit inspectors full access to audit working papers of U.S.-listed
Generation CFO
NOVEMBER 4, 2022
“Working in internal audit is like having a front row seat to the nuts and bolts of a business,” says Daniel Mensah, Head of Audit at Clear Channel Europe. “One of our key objectives for internal audit is being a source of talent for the business.”.
CFO Dive
FEBRUARY 1, 2022
Delays mean companies can face hurdles raising capital, securing financing or making financials available to buyers interested in an acquisition
The Charity CFO
APRIL 29, 2022
Many nonprofit organizations both large and small need to undergo a financial statement audit every year. Preparing for a nonprofit audit can be overwhelming and anxiety-filled, especially if it’s your first audit or you don’t have a strong and experienced financial team.
The Charity CFO
DECEMBER 30, 2021
Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. What is a nonprofit financial audit? .
CFO Dive
JANUARY 9, 2023
The second edition of the biannual survey of audit partners carried out by the CAQ shows corporations are taking action against rising inflation, labor shortages and supply chain disruptions
Future CFO
MAY 26, 2022
EY is considering a global audit spinoff amid growing regulatory pressure, according to media reports. According to media reports, EY’s CEO Carmine Di Sibio said in a memo that no decisions have been made regarding to the audit spinoff.
CFO News Room
MARCH 23, 2022
said they couldn’t publish audited annual results by Hong Kong’s March 31 deadline, with some blaming pandemic-related problems as one reason for the delay. Others have recently parted company with the accountancy firms that previously audited their books.
Generation CFO
DECEMBER 2, 2022
I needed to feel confident that if someone did come in to audit us, those numbers were solid and credible. Frances, who was promoted to CFO in August 2021, particularly enjoys this aspect of her role which she says is much more commercial and strategic than her previous one. “I
CFO News Room
APRIL 15, 2022
Also, due to government sanctions accounting firms will likely have less access to auditors in Russia than they previously did, audit experts say. WSJ | CFO Journal. The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Audit Risks.
CFO News Room
AUGUST 27, 2022
accounting regulators to inspect China-based audits , laying the groundwork for a monthslong process that could prevent numerous Chinese companies from being booted off American stock exchanges. The deal, which was negotiated over many months, comes after a decadelong standoff between regulators in the two countries over the audit working papers of New York-listed Chinese companies. Washington and Beijing reached an agreement for U.S.
The Charity CFO
AUGUST 31, 2022
In this episode, Tosha will walk you through the most common misconceptions about nonprofit audits to let you know exactly what you can expect (and NOT expect) from a nonprofit audit before you commit. Audits scare the daylights out of nonprofit founders.
CFO News Room
MAY 27, 2022
Big Four accounting firm Ernst & Young is considering a world-wide split of its audit and advisory businesses amid regulatory scrutiny of potential conflicts of interest in the profession, according to people familiar with the matter. billion came from audit work.
CFO News Room
APRIL 25, 2022
They do this through routine audits , which are reviews that may involve the financial examinations of corporate financial statements, as well as compliance issues and internal controls involving a company’s financial reporting. Audits are conducted by internal and external auditors.
CFO Dive
SEPTEMBER 2, 2022
During the coming inspection period, the PCAOB’s so-called Target Team will focus on “risks related to climate change” that influence companies’ financial statements
Generation CFO
MARCH 18, 2022
Change must be a part of the DNA of a business if it is to be successful, says Dynshaw Italia, CFO at spend management platform Soldo, who has navigated his fair share of transformation throughout his career. . “In I enjoy the entire CFO function.
CFO News Room
NOVEMBER 22, 2022
Newly released federal audits reveal widespread overcharges and other errors in payments to Medicare Advantage health plans for seniors, with some plans overbilling the government more than $1,000 per patient a year on average. Summaries of the 90 audits, which examined billings from 2011 through 2013 and are the most recent reviews completed, were obtained exclusively by KHN through a three-year Freedom of Information Act lawsuit, which was settled in late September.
Private Funds CFO
FEBRUARY 9, 2022
The entire industry is caught up in 'sea change' proposal. Compliance News & Analysis featured SEC
CFO News Room
JUNE 8, 2022
Deloitte is exploring a plan to split its global audit and consulting practices, following an effort by fellow Big Four accounting firm Ernst & Young to potentially spin off its consulting arm , according to people familiar with the matter. The moves would mark the biggest shake-up in the accounting industry in decades, handing windfalls to tens of thousands of the firms’ partners and creating two new consulting giants and two stripped-down auditing firms.
CFO News Room
APRIL 25, 2022
WSJ | CFO Journal. The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. The Big Four will likely use these new firms for the now-complicated task of auditing the Russian operations of multinational s, according to people familiar with the matter. Removing that shared support entirely could make it difficult for the Russian firms to offer their existing audit and other services, people close to the Big Four firms said.
CFO News
JANUARY 30, 2023
The audit will be commissioned after the group's unit, Adani Enterprises Ltd, completes its follow-on public offering, based on which legal options will be decided, the report said, citing two people with direct knowledge of the matter
CFO Dive
AUGUST 2, 2022
The Public Company Accounting Oversight Board (PCAOB) doesn’t have the authority to remove foreign companies from U.S. exchanges but a 2020 law gives the Securities and Exchange Commission authority to do that if the PCAOB isn’t getting cooperation
CFO News
JANUARY 16, 2023
The ATR requirements are on the lines of the contemporary international best practices implemented by certain prominent independent audit regulators in other jurisdiction
Future CFO
SEPTEMBER 1, 2021
Audit functions that fail to adapt well to hybrid auditing risk a loss of effectiveness and influence at a time when real-time assurance has never been more vital to the wider organisation, said Gartner recently. Data analytics has also enabled better remote and continuous audits. .
Future CFO
MARCH 21, 2022
The top challenge for internal audit leaders this year is how they can attract talent with nontraditional skills, said Gartner recently. 57% of chief audit executives said that attracting talent with nontraditional skills was an important or extremely important issue for them in 2022.
CFO News
JANUARY 8, 2023
Joint audit should be made applicable for public interest entities. There should be greater scrutiny for such companies, says Debashis Mitra
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