article thumbnail

Audits — Hidden Until Now — Reveal Millions in Medicare Advantage Overcharges

CFO News Room

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. Originally published at Kaiser Health News. But after nearly a decade, that has yet to happen.

Auditing 100
article thumbnail

Wirecard CEO Won’t Resign Despite Questions Raised By Audit

PYMNTS

Despite an audit that raised questions about operations at Wirecard, a publicly traded financial services provider based in Munich, its CEO has ignored calls to resign. The survey by KPMG, a global auditing firm, criticized the company’s lack of transparency and cooperation. The company employs 5,300 workers.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What are top concerns of auditors in 2023?

Future CFO

Cyberthreats and IT governance are among the top concerns of auditors in 2023, said Gartner recently when releasing the Gartner 2023 Audit Plan Hot Spots Report.

article thumbnail

Why Economic Volatility Opens Up Opportunity For The Modern Corporate Accountant

PYMNTS

With market volatility and economic pressure higher than it has been in more than a decade, the ways businesses manage and account for their money is inevitably included in that wave of operational change. The pandemic is setting the stage to change just about every aspect of running a business. Accountants, Auditors Respond.

article thumbnail

The top issues for auditors in 2022

Future CFO

The Gartner 2022 Audit Plan Hot Spots report also identified evolving societal expectations for enterprises, such as environmental, social and governance ( ESG ) risks, and operational resilience as top risk areas for 2022. The 2022 audit plan hot spots that Gartner identify are as follows. Economic Uncertainty. .

article thumbnail

10 Friday AM Reads

Barry Ritholtz

New Yorker ) • Boaz versus BlackRock: the fight over closed-end funds : Saba founder says he never planned to be an activist investor. Apricitas Economics ) • How much did Congress lose by defunding the IRS? Apricitas Economics ) • How much did Congress lose by defunding the IRS? Many readers mistook him for an oracle. (

Auditing 107
article thumbnail

The Post-Pandemic SMB Restart, Localized Payments, PPP Audits Top This Week’s News

PYMNTS

Mnuchin: All PPP Loan Recipients Will Face Audits. Treasury Secretary Steven Mnuchin said per reports that firms that borrow money via the Paycheck Protection Program (PPP) can expect to be audited prior to forgiveness of the loans. ” JPMorgan Chase Submits Nearly $18B In PPP Loans.