CFO News

SEPTEMBER 8, 2024

In a revealing conversation with Robin Banerjee, Chairman of Nucleon Pvt Ltd, ETCFO explores the heated debate over SA 600, examining its implications for audit accountability and financial reporting standards in India.

Auditing 75

Auditing Financial Reporting Accounting 75

CFO News

NOVEMBER 4, 2024

The National Financial Reporting Authority (NFRA) and the Institute of Chartered Accountants of India (ICAI) are headed for another clash. The upcoming NFRA board meeting will address revisions to auditing standards, including the controversial SA600, despite opposition from ICAI representatives on the board.

Auditing 40

Auditing Financial Reporting Accounting 40

E78 Partners

JANUARY 5, 2024

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. Proper preparation is critical in navigating the post-acquisition audit process smoothly, minimizing disruptions, and providing timely, accurate information to stakeholders.

Auditing 59

Auditing Valuation Concentration Reconciliations 59

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. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

Nonprofit 98

Nonprofit Auditing GAAP Accounting Principles 98

CFO News

SEPTEMBER 23, 2024

India's accounting regulators are clashing over a proposal to make parent company auditors responsible for consolidated financial statements. The National Financial Reporting Authority supports the change, citing audit failures, while the Institute of Chartered Accountants of India argues it will harm smaller firms.

Auditing 40

Auditing Financial Reporting Accounting 40

Future CFO

JULY 8, 2024

Editor’s note: Audit is much more than a compliance requirement and is definitely not a declining industry, said Narissa Chen (pictured), Partner, Head of Audit & Assurance, Forvis Mazars in Singapore. She shared with FutureCFO what a career in audit offers and how female professionals can become audit leaders.

Auditing 52

Auditing Leadership Compliance Communication 52

CFO News

OCTOBER 15, 2024

The Institute of Chartered Accountants of India (ICAI) released a new Standard of Quality Management (SQM), potentially clashing with the National Financial Reporting Authority (NFRA).

Auditing 74

Auditing Financial Reporting Accounting 74

CFO News

AUGUST 28, 2024

The National Financial Reporting Authority and the Institute of Chartered Accountants of India are at odds over proposed changes to domestic audit standards. ICAI fears the changes could concentrate audit work among large firms, impacting smaller practitioners.

Auditing 40

Auditing Concentration Planning Financial Reporting 40

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. These challenges include resource limitations, complexity of accounting standards, volume of transactions, weak internal controls, stakeholder expectations, and much more.

Auditing 52

Auditing General Ledger Reconciliations Accounting Standards 52

The Charity CFO

FEBRUARY 8, 2024

Does the idea of a financial audit on your nonprofit leave you feeling nervous? For many nonprofits, a full financial audit can help ensure the accuracy of their financial recordkeeping. Luckily, not all financial situations require an audit. However, it can also feel invasive and overwhelming.

Auditing 52

Auditing Nonprofit Compliance CFO 52

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.

Nonprofit 52

Nonprofit Auditing Compliance Education 52

CFO News

JUNE 18, 2024

The National Financial Reporting Authority (NFRA) is set to conduct its first annual inspection of eight audit firms, including the Big Five, to reveal its findings by October or November.

Auditing 40

Auditing Financial Reporting Accounting Planning 40

PYMNTS

NOVEMBER 26, 2018

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.

Financial Reporting 51

Financial Reporting Accounting Auditing Accounting Firms 51

CFO Leadership

OCTOBER 10, 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.

Accounting 95

Accounting Finance Auditing IFRS 95

https://trustedcfosolutions.com/feed/

FEBRUARY 9, 2023

Getting audited isn’t something businesses look forward to. Audits cost your business hundreds and thousands of dollars, taking up countless hours researching transactions and data logs, or painstakingly tracking down supporting documentation. Here’s how: Next-Level Efficiency: Streamlining the Audit Feel prepared for your next audit.

Auditing 57

Auditing CFO Compliance Accounting 57

PYMNTS

JULY 11, 2019

s so-called Big Four accountancy firms — KPMG, PwC, EY and Deloitte — have reportedly failed to reach audit quality standards set by the Financial Reporting Council , Reuters reported this week. Only 75 percent of the audits of the U.K.’s All of the U.K.’s Grant Thornton is under particular scrutiny.

Auditing 49

Auditing Accounting Financial Reporting Accounting Firms 49

Centage

OCTOBER 14, 2021

Financial reporting is a critical task for any organization. Understanding where your actual financials stand in relation to budgets and projections is important to keeping your business on track and in helping to create new projections and budgets. When using spreadsheets for financial reporting, these errors are amplified.

Financial Reporting 59

Financial Reporting Financial Planning and Analysis (FP&A) Budgeting Concentration 59

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.

Auditing 52

Auditing Planning Accounting Standards Financial Reporting 52

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. What is financial reporting software?

Financial Reporting 52

Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

PYMNTS

JUNE 26, 2020

Ernst & Young ( EY ), the global accounting firm hired to verify Wirecard’s financials, failed to request crucial information from a Singapore bank where the German payment processor claimed it had up to 1 billion euros ($1.1 billion) in cash, the Financial Times reported. The island nation’s lenders, BDO Unibank Inc.

Accounting 116

Accounting Auditing Accounting Firms Banking 116

The Charity CFO

JULY 1, 2024

Choosing the right accounting services is crucial for the financial health of your nonprofit. The right nonprofit accountant helps your organization properly manage its finances, which improves trust and transparency with stakeholders and donors. Technology is one of the most important tools in modern nonprofit accounting.

Nonprofit 52

Nonprofit Accounting Budgeting Communication 52

The Charity CFO

APRIL 28, 2023

Is there an advantage to working with accounting firms specializing in nonprofits? However, running a nonprofit comes with unique challenges that require specialized expertise, particularly in financial management and accounting. Grant Accounting Many nonprofit organizations rely on grants to fund their programs and services.

Nonprofit 52

Nonprofit Accounting Firms Accounting Auditing 52

The Charity CFO

APRIL 5, 2022

If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting.

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

PYMNTS

JULY 6, 2020

The Big Four accounting firms will have to put their United Kingdom auditing and consulting practices in separate business units by 2024, but may keep them within the same parent companies, under regulations announced today by the Financial Reporting Council. The measures by the U.K.’s

Auditing 66

Auditing Accounting Firms Financial Reporting Accounting 66

CFO Plans

MAY 2, 2024

When it comes to revolutionizing your financial management, finding the right accounting partner is a critical decision. Take time to reflect on your financial goals, industry-specific requirements, and the level of support you require. Look for a partner that embraces cloud-based solutions, automation, and advanced analytics.

Accounting 52

Accounting Problem Solving Communication Compliance 52

PYMNTS

MARCH 1, 2020

The Financial Reporting Council (FRC), the U.K.’s s audit regulator, announced plans this week to break up the dominance of the largest four accounting firms, Deloitte, EY, KPMG and PwC , according to the Financial Times. and would essentially ask for the firms’ audit and consulting operations to be separated.

Accounting 92

Accounting Auditing Financial Reporting Accounting Firms 92

CFO Plans

JULY 5, 2024

As we move further into 2024, leveraging SaaS-based accounting software has become not just a trend but a necessity for manufacturing firms aiming to streamline their operations and enhance financial accuracy. Why Cloud-Based Accounting Software is Essential First and foremost, opt for cloud-based accounting software.

Manufacturing 52

Manufacturing Accounting CFO Leverage 52

The Charity CFO

MARCH 6, 2024

The conversation today has a very simple focus, 5 red flags that your nonprofit accounting needs improvement, even when it may not be recognized. Red Flag #1: Bank Account Reconciliation Whether the business is accrual or cash basis, it does not matter. The accountant must post all transactions that filter through the bank account.

Nonprofit 59

Nonprofit Accounting Reconciliations Invoicing 59

The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Because of their unique structure and operational model, nonprofits must comply with various accounting standards that are, in many ways, different from for-profit organizations.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

The Charity CFO

APRIL 25, 2024

For nonprofit organizations, accounting comes with a lot of complexity. Categorizing transactions, reporting income, and meeting compliance requirements can be overwhelming. About The Charity CFO The Charity CFO is an accounting firm specializing in serving nonprofits through outsourced accounting and fractional CFO services.

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

The Charity CFO

MARCH 16, 2022

Today we’re proud to announce another amazing addition to the industry’s best nonprofit accounting team! Theresa Guest is joining The Charity CFO team in the role of Accounting Manager. Don't hire the wrong accountant for your nonprofit! We couldn’t be happier to welcome Theresa to our team! Get the free guide!

CFO 98

CFO Accounting Nonprofit Auditing 98

CFO News

OCTOBER 3, 2024

Narayanaswamy, part-time member of NFRA, discusses the legal framework for auditing standards, challenges to NFRA’s authority, the power dynamics between NFRA and ICAI, and the need for accountability in financial reporting. In an exclusive interview with ETCFO, R.

Auditing 83

Auditing Financial Reporting Accounting 83

Future CFO

DECEMBER 7, 2023

As part of the process to better sustainable reporting which is tipped to become a vital topic in 2024, verification and improvement of collected data come at hand. Accountants play a role in the verification, which supports building trust in reported sustainability-related information.

Accounting 52

Accounting Auditing Compliance Financial Reporting 52

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.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

The Charity CFO

MAY 10, 2022

If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. Typically, a CPA would prepare these statements as part of a yearly review or audit. What exactly is changing about in kind donation reporting?

Accounting Standards 98

Accounting Standards Accounting GAAP Nonprofit 98

The Charity CFO

APRIL 1, 2024

Implementing technology into your nonprofit accounting process can help solve a variety of issues—from tracking receipts to properly recording donations. In most cases, technology helps improve the efficiency and accuracy of nonprofit accounting. Nonprofits are subject to a lot of legal and financial scrutiny.

Nonprofit 52

Nonprofit Accounting CFO Accounts Payable 52

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. Sound financial management helps avoid jeopardizing tax-exempt status and the success of your operation. .

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52