The Charity CFO

NOVEMBER 30, 2023

Does the idea of an audit from the IRS leave you with sweaty palms? Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit. The investment now will save you in the future.

Nonprofit 52

Nonprofit Auditing Compliance Education 52

CFO News

JUNE 14, 2023

The members further agreed to invest in capacity development on artificial intelligence within SAIs through targeted training in tools, technologies, and know-how for AI audits and auditing AI frameworks.

Auditing 52

Auditing Investments Technology 52

Future CFO

FEBRUARY 23, 2023

Auditing and accounting talent shortage continue to make employers toss and turn, according to a global survey of more than 4,100 accountants and 2,300 auditors. With unemployment rates at historic lows, it’s not surprising that auditing and accounting talent shortage is a hot issue, said David Osborne, CEO at Caseware.

Auditing 52

Auditing Accounting Accounting Firms Practice Management 52

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. Listen to this episode to make sure you’re fully prepared for your audit!

Nonprofit 52

Nonprofit Auditing CFO Accounting 52

PYMNTS

JUNE 24, 2020

is facing questions about its investment in the embattled German payment services provider, CNBC reported. Its business was growing and Wirecard would later get an investment-grade credit rating from Moody’s. A KPMG audit was conducted for Wirecard last fall. As the Wirecard scandal unfolds, SoftBank Group Corp.

Investments 104

Investments Auditing Accounting Firms Accounting 104

Future CFO

JUNE 15, 2021

While 62% of organisations expect external audit fees to rise this year, they could combat this by automating their internal controls, said Gartner recently when releasing results of a survey of 166 publicly traded and privately held external audit firm clients across industries in March-April of 2021.

Auditing 52

Auditing Financial Reporting Finance Investments 52

CFO Share

AUGUST 22, 2022

The recently passed Inflation Reduction Act includes $80B in new IRS funding over the next ten years, earmarked for increased tax enforcement, technology investments, customer service and other hiring. Should we expect more audits and fines? How do I avoid an IRS audit? What does this mean for small businesses?

Auditing 40

Auditing Restructuring Treasury Budgeting 40

PYMNTS

APRIL 24, 2019

Wirecard has denied claims levied by the Financial Times that its subsidiaries were not audited, according to a report by Reuters. The FT , using a whistleblower as a source, said that Wirecard’s accounts in Card Systems Middle East in Dubai were not audited in 2016 and 2017. Shares in the company closed 8.5 percent recently.

Auditing 46

Auditing Investments Accounting 46

PYMNTS

OCTOBER 29, 2020

A number of large accounting groups have turned down requests to audit Greensill Capital as the SoftBank -backed firm mulls a stock market listing, the Financial Times (FT) reported. The United Kingdom-based organization has become one of the most highly valued private finance firms in the nation as of its 2011 establishment.

Auditing 52

Auditing Accounting Firms Accounting Finance 52

PYMNTS

JUNE 6, 2019

auditing giant to overhaul operations amid growing regulatory scrutiny on the industry. PwC is reportedly planning to ramp up its auditing operations by hiring 500 more auditors across the U.K., The company will also deploy a digital audit team, strengthen training operations and review existing clients.

Auditing 46

Auditing Investments Planning Marketing 46

PYMNTS

DECEMBER 6, 2020

Procurement Partners , which works on procure-to-pay (P2P) services for healthcare providers, has received an investment from Serent Capital , according to a press release. Through 100 percent invoice integration, the service boasts improvements to savings, and offers a compliance audit feature that can help vendors cut spending.

Investments 60

Investments Healthcare Compliance Auditing 60

Future CFO

APRIL 1, 2024

The ACCA-CA ANZ study reveals a significant trend: with 92% of individuals contemplating entry into the audit profession prioritise prospective employers' investment in and use of advanced technologies. It also competes with the likes of YouTube, TikTok and other content development platforms."

Technology 52

Technology Auditing Accounting Investments 52

CFO News

NOVEMBER 3, 2023

The combined entity, termed 'Project HImalaya' internally, will invest aggressively in scaling up the India advisory practice and growing client servicing capabilities in India. Notably, the tax and audit practice—managed through affiliate BSR & Co— will likely remain separate, although this detail is still under discussion.

Auditing 97

Auditing Practice Management Investments 97

Future CFO

MARCH 27, 2024

Over half of the survey respondents for the study , which gathered insights from over 6,500 respondents, were Gen Y/Millennials aged 25-42, with 37% current auditors, 33% former auditors and the rest considering audit as a future career. Invest in technologies to ease workloads. Embrace technology to remain relevant.

Numbers 52

Numbers Accounting Auditing Communication 52

CFO Leadership

OCTOBER 10, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Finance 95

Finance Accounting Auditing IFRS 95

PYMNTS

MAY 1, 2020

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. The investment bank said it provided over $17.8 billion in relief. .

Auditing 57

Auditing Economics Treasury B2B 57

Barry Ritholtz

JUNE 23, 2023

Every dollar available for auditing taxpayers generates many times that amount for government coffers — and the rate of return is especially astonishing for audits of the wealthiest Americans, according to new research. Way more than we thought. Unfortunately, it’s likely to have the opposite effect.

Auditing 107

Auditing Economics Investments Planning 107

Adam Kae

APRIL 21, 2023

Chances are, your plans need some investment - and investors. This means that you need to invest time, money, and effort in your online presence. Speaking of transparency… Perform Internal Audits Audits, as tedious as they sound, have a couple of benefits. Keep It Simple An audit is bound to bring up a lot of information.

Auditing 52

Auditing CFO Sales Investments 52

VCFO

NOVEMBER 7, 2023

It’s important to differentiate between having audited financial statements and a QoE report, as these are quite different reports. An audit opines on the accuracy of a historical period. An audit looks backwards, giving an opinion on the financial statements and health of the company.

Valuation 86

Valuation Auditing Concentration CFO 86

PYMNTS

JUNE 26, 2020

That routine audit procedure could have uncovered the vast fraud at the suburban Munich company, the report said. The accountancy firm, which has audited Wirecard since 2010, has been thrust into the center of the scandal around $2.1 billion) in cash, the Financial Times reported. OCBC declined to comment, the paper reported.

Accounting 116

Accounting Auditing Accounting Firms Banking 116

Nerd's Eye View

OCTOBER 27, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financial planning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)

Tax Planning 80

Tax Planning Auditing Leverage Investments 80

Nerd's Eye View

OCTOBER 18, 2022

What's unique about Louis, though, is how he and his partner (in anticipation of a shift in the financial advisory industry to more automated client services nearly 10 years ago) developed a robo-advice technology prototype to help clients have their investments managed at a very low cost… which then struggled to gain traction with consumers, (..)

Planning 52

Planning Investments Auditing Technology 52

CFO Talks

MARCH 2, 2023

Before joining Komatsu, he was a Senior Manager at KPMG in South Africa and he was responsible for several large audit clients. That has been a recurring theme in many of my discussions with CFOs, many accountants move from the auditing side to the commercial world, mostly shortly after they’ve completed their articles.

Auditing 98

Auditing CFO IFRS Construction 98

CFO Selections

SEPTEMBER 11, 2023

Typically, these include banks and other capital providers, investment advisors, key software vendors, insurers, benefits and retirement services brokers, HR/payroll service providers, and audit and tax experts. Among a CFO’s many duties is selecting and managing the company’s key vendors.

CFO 52

CFO Auditing Investments Banking 52

Future CFO

MAY 5, 2024

ACCA urges finance professionals to ensure that AI governance and AI risk management is in place, beginning with investing in AI literacy and skills development. Finance professionals must invest in education and training to critically evaluate AI outputs, communicate clearly with key stakeholders, and make informed decisions.

Risk Management 52

Risk Management Leadership Auditing Finance 52

The Charity CFO

MAY 31, 2022

Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. Are there complex investments or endowments restricted to specific purposes? . In most cases, these include an annual audit and federal tax return.

Nonprofit 98

Nonprofit Finance Auditing Accounts Payable 98

Future CFO

JANUARY 26, 2023

Singapore-headquartered Frasers Property Limited announced its appointment of Liu Qingbin as head of finance for the group’s real estate investment trust manager, to be effective Feb 1, 2023. Liu has more than 15 years of experience in audit, accounting, corporate finance, tax, treasury and capital management.

CFO 52

CFO Auditing Treasury Corporate Finance 52

Barry Ritholtz

SEPTEMBER 8, 2023

Financial Times )e • Spotify’s $1 Billion Podcast Bet Turns Into a Serial Drama : The prospect of podcast riches led to aggressive investments in celebrity deals and original programming for what appeared a sky’s-the-limit media frontier. Voleon was one of the first hedge funds to use AI as a core of its investing model. Shaw & Co.,

Auditing 56

Auditing Investments Technology 56

CFO Talks

DECEMBER 21, 2022

Gcwabe faces the task of restoring Wesgro to clean audits. The official tourism, trade and investment promotion agency for the Western Cape last achieved a clean audit in 2018/19. Wesgro’s audit results were discussed recently at a budget committee meeting of the Western Cape provincial parliament.

CFO 52

CFO Auditing Leadership Budgeting 52

Future CFO

APRIL 28, 2024

Professional accountants thereby are well placed to help their respective organisations to understand and capitalise on the benefits of AI adoption to support the business case for investment. Meanwhile, within audit, they are being used to analyse entire datasets, enabling auditors to move away from the traditional ‘sampling’ process.

Accounting 52

Accounting Auditing Invoicing Finance 52

PYMNTS

OCTOBER 9, 2020

The big B2B investment of the week was Tipalti , which landed $150 million in new funding on a $2 billion valuation. By helping firms scope appropriately sized audits and dynamically modify controls, Strike Graph seeks to take away the confusion around cybersecurity audit and certification procedures.

Compliance 107

Compliance Auditing Accounts Payable Valuation 107

PYMNTS

FEBRUARY 19, 2018

It involves managing payments, managing issues with payments, invoice processing, reconfiguration … there are whole processes that go into executing payables … and yet this is a part of the organization that has remained less automated, less invested in software for a very long time.”.

Auditing 51

Auditing Accounts Payable Currencies Accounting 51

Nerd's Eye View

FEBRUARY 24, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the SEC’s proposed “Safeguarding Rule” would significantly increase the number of investment advisers deemed to have custody of client assets and increase paperwork requirements for advisers (..)

Tax Planning 86

Tax Planning Auditing Investments Numbers 86

CFO Leadership

OCTOBER 18, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Finance 52

Finance Accounting Auditing IFRS 52

Future CFO

OCTOBER 12, 2022

Goh joined the bank as a management trainee in 1988 and was named head of group audit in 2013, having stints across different divisions in the bank including corporate planning, investment research, asset management, risk management, and global treasury, OCBC Bank said.

CFO 52

CFO Banking Auditing Treasury 52

PYMNTS

SEPTEMBER 29, 2020

The German payments company filed for bankruptcy protection in June and is already facing an investigation by APAS, the body that oversees auditing firms in Germany. An audit by KPMG , a global auditing firm, criticized Wirecard’s lack of transparency. EY was Wirecard’s auditor for more than a decade.

Auditing 75

Auditing Accounting Firms Accounting Sales 75

Future CFO

DECEMBER 6, 2023

While blockchain inherently provides security benefits, investing in additional cybersecurity measures is important. Investing in training and education for the project team is a proactive measure to maximise the potential benefits of blockchain technology.

Finance 52

Finance Auditing Education Budgeting 52