CFO News

OCTOBER 25, 2023

The National Financial Reporting Authority (NFRA) has requested audit affiliates of Deloitte, EY, KPMG, Grant Thornton, and two Ahmedabad-based CA firms to provide information regarding their audit practices while auditing Adani companies.

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CFO News

JANUARY 17, 2024

The National Financial Reporting Authority (NFRA) is planning to directly engage audit committees of large listed companies to sensitise them about accounting standards and their role, a first-of-its kind regulatory outreach to curb corporate frauds, people aware of the watchdog's thinking told ET.

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CFO Share

NOVEMBER 15, 2023

Embarking on your first financial audit can be nerve-wracking. This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) How Long Do Financial Audits Take?

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Bramasol

MARCH 24, 2022

This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals? For more details, read the SEC fact-sheet Enhancement and Standardization of Climate-Related Disclosures.

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E78 Partners

SEPTEMBER 21, 2023

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit.

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CFO Talks

SEPTEMBER 30, 2024

This is not just an accounting issue; it’s a symptom of a broader problem that threatens our ability to compete in the global economy. At the heart of this issue is IAS 38 , the international accounting standard for intangible assets, which may be doing more harm than good for South Africa’s economic ambitions.

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CFO News

MAY 31, 2024

NFRA chairman Ajay Bhushan Pandey emphasized the audit committee's responsibility in ensuring accurate financial statements, even if auditors fail in their duty. He highlighted the need for meaningful communication between audit committees and auditors, stating that it should not be a mere formality.

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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.

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The Charity CFO

DECEMBER 8, 2022

But in order to get the most out of these grants, you need to understand how to properly manage and account for them. The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. 8 Best Practices When Accounting For Grants.

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PYMNTS

JUNE 6, 2019

Changes in lease accounting standards have led top retailers and restaurant chains in the U.S. The lease accounting standard overhauls, led by the Securities and Exchange Commission (SEC), change the way companies report their lease commitments.

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CFO Leadership

OCTOBER 18, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.

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The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. Benefits of Nonprofit Accounting Services. Nonprofit organizations exist to further a mission or goal.

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Beacon CFO Plus

NOVEMBER 30, 2023

How to Divide Responsibilities and Prioritize Communication The relationship between a fractional or outsourced Chief Financial Officer (CFO) and your company’s public accounting firm should be collaborative, clear, and well-defined. This ensures your company’s financial and accounting needs are met effectively.

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The Charity CFO

AUGUST 15, 2023

Myths of Nonprofit Accounting and Why They Matter to Job Seekers Unfortunately, many job seekers fall victim to the stereotypes and believe the myths surrounding nonprofit accounting. In this section, we will debunk the three most common nonprofit accounting myths. Ready to dive deep into this exciting realm?

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The Charity CFO

JANUARY 5, 2022

Don't hire the wrong accountant for your nonprofit! The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. To pass an independent audit. Get the free guide!

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PYMNTS

JANUARY 10, 2019

Now, analysts at the International Federation of Accountants (IFAC) are urging ERM to move beyond the c-suite. Professional accountants are well-positioned to better serve the organizations they work for by enabling effective enterprise risk management that identifies both risks and opportunities for the business,” the CEO noted.

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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. That means accountants will be expected to become business advisers, not just number checkers.

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PYMNTS

MAY 21, 2018

have been chosen to lead the inquiry into the nation’s accounting watchdog and assess whether the body is effective at identifying and preventing accounting issues. Reports said no current executives from the so-called Big Four accountancy firms — PwC , Deloitte , EY and KPMG — are in the group.

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PYMNTS

JULY 13, 2018

South Korean financial regulators said a unit of Samsung , Samsung BioLogics , intentionally breached corporate accounting rules, Reuters reported Thursday (July 12). “We have legally implemented all accounting procedures,” the company stated. The joint venture, Samsung Bioepis , was not disclosed to the FSC, reports said.

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PYMNTS

JULY 6, 2018

Australian regulators said they were disappointed in corporates’ lack of preparedness for new accounting rules. Directors and preparers should ensure that they understand the impact of new accounting standards and have systems and processes in place to support reporting under these new standards.”. 1 of this year.

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PYMNTS

MARCH 6, 2019

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. ” Meanwhile, previous research from Audit Analytics has also revealed that the number of accounting errors among the U.S.’s

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VCFO

NOVEMBER 1, 2023

These actions might include: A blitz on collection of past due receivables to reduce cash tied up in past due accounts, reduce bad debt exposure and improve DSO (days sales outstanding – a metric often scrutinized by lenders). Read more in our blog about Lease Accounting Updates.) audited or reviewed financial statements).

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CFO Share

JUNE 27, 2024

How can a small business ensure compliance in reporting without overspending on accounting staff and audits? In general, financial statement compliance involves adhering to established standards and regulations, such as Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board (FASB) guidelines.

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Fpanda Club

SEPTEMBER 2, 2021

Another important aspect to consider within the discussed topic is how exactly FP&A is different from other finance disciplines, namely accounting, corporate finance and financial control. All this makes financial controllers obvious candidates for communicating with external auditors and managing the audit process.

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The Charity CFO

JANUARY 18, 2022

Zack joins us after two decades as a not-for-profit accountant in both public accounting and the nonprofit industry. In this new role, he will serve as one of our in-house experts on existing and emerging nonprofit accounting standards and auditing best practices. Louis and nationwide.

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The Charity CFO

APRIL 5, 2023

In addition to the many struggles of running a business, nonprofits have additional hurdles to overcome as it relates to their mission, employment strategy, accounting, and compliance. Depending on your state, funding and other factors, your compliance and audit requirements might vary. Running a nonprofit is no small feat.

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PYMNTS

JANUARY 2, 2020

Several high-profile corporate collapses and initiatives from corporate accounting standard-setters have raised questions about businesses’ use of supply chain finance and whether the trade finance tool prevents investors and auditors from gaining a transparent view into company finances. Reverse Factoring, Auditing Scrutinized.

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VCFO

MAY 30, 2022

He is particularly skilled in oil and gas accounting, financial reporting, structuring finance and accounting functions and processes, financial modeling of capital investments, divestitures, acquisitions, cash flows and working capital management, and debt and equity financing.

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https://trustedcfosolutions.com/feed/

APRIL 5, 2023

The cloud accounting solution, Sage Intacct , is an excellent resource to keep your financials on track by creating an efficient month-end close without the headache or hassle of sorting through documents and tracking mistakes. Customize Your Chart of Accounts With Dimensions. Implement Automated Workflows.

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CFO Share

MARCH 14, 2022

What is the difference between a quality of earnings report and an audit? Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Changes in accounting principles. Changes in accounting policies.

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Future CFO

AUGUST 18, 2022

The number of global companies obtaining independent assurance on their ESG information increased from 51% to 58% in 2020, compared to the previous year, said the International Federation of Accountants ( IFAC ) recently. The use of, or reference to, Sustainability Accounting Standards Board (SASB) standards more than doubled in 2020.

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Future CFO

MARCH 1, 2023

When it comes to corporate ESG reporting and related assurance involving ESG issues, the largest global companies continue to show momentum, according to a new report from the International Federation of Accountants (IFAC) and AICPA & CIMA, the latter two of which form the Association of International Certified Professional Accountants.

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The Charity CFO

APRIL 13, 2023

In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.

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PYMNTS

FEBRUARY 14, 2019

Along with regulatory action from tax reform and tougher Know Your Customer (KYC) rules adding the pressure of complex red tape, public companies need to add one more compliance concern to their list: changes to accounting standards by the Financial Accounting Standards Board (FASB). “In many ways, they are.”

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The Finance Weekly

MARCH 28, 2022

Converging ESG and Sustainability Reporting Standards There are several competing standards for ESG/Sustainability reporting including the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), Carbon Disclosure Project (CDP), and others.

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Spreadym

AUGUST 10, 2023

When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accounting standards, cost, customer support, and any unique requirements your organization might have.

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The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). This could imply more efficient auditing via online financial software that allows for remote audits. Master the basics of accounting.

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