PYMNTS

JUNE 26, 2020

The company was involved in deliberate deceit and had given false statements on escrow while EY was carrying out the 2019 audit of the company, which EY took to the relevant authorities, Reuters reported. billion on its books that may not exist. He posted 5 million euros in bail and was released on Tuesday (June 23).

Auditing 102

Auditing Accounting Banking Marketing 102

Future CFO

FEBRUARY 27, 2024

For the accountancy profession, transformation has always been a part of the process, let alone the manner of life. For Harding, the accountancy profession, through its history, has continually adapted and seized future opportunities. “A

Accounting 96

Accounting Finance Construction Auditing 96

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

Centage

SEPTEMBER 6, 2022

While there are many alternatives to spreadsheets, some organizations still consider them an important part of their accounting procedures. The familiarity of spreadsheets and their ease of use mean many employees are happy to keep working with them, even though they may create serious security risks.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

PYMNTS

AUGUST 7, 2020

Unisys has partnered with PayCargo , which works in electronic invoicing and settlements for shipping companies, to deliver a new payments platform for cargo providers that a press release touts as more secure and faster. The platform lets clients have their cargo released the same day.

Securities 102

Securities B2B Auditing Cash Management 102

PYMNTS

JULY 26, 2020

In the latest development, Bundesbank President Jens Weidmann said in an interview published by newspapers that are part of the Funke media organization that auditing should be enhanced, according to a translation to English from German by Reuters.

Auditing 83

Auditing Banking Finance Accounting 83

PYMNTS

MARCH 13, 2020

German payments company Wirecard said that an auditing firm it hired found no evidence of account manipulation, according to a report by Reuters. . Auditing firm KPMG , hired by the company, found no discrepancies in Wirecard’s India and Singapore operations, or in the Digital Lending or Merchant Cash Advance departments.

Auditing 56

Auditing Accounting Startups Finance 56

PYMNTS

OCTOBER 26, 2016

While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. to provide additional layers of security. Going Beyond PCI.

Securities 81

Securities Auditing Compliance Retail 81

PYMNTS

JUNE 29, 2020

According to emails seen by WSJ, the auditing firm knew of and had questions about the arrangements and was signing off on Wirecard’s financial results for years anyway. The revenue from those businesses was deposited in trust accounts rather than paid straight to the company.

Auditing 130

Auditing Risk Management Accounting Banking 130

The Charity CFO

MAY 6, 2022

You could even find yourself in worse shape than if you’d never secured the funding. The UCG is too extensive to explain here, but these are a few requirements you should consider: You must have an accounting system in place. You must be closing your books each month ; that means reconciling all of your bank accounts and credit cards.

Nonprofit 119

Nonprofit Auditing Financial Systems CFO 119

PYMNTS

MARCH 15, 2020

The Securities and Exchange Commission (SEC) voted last week to ease audit requirements for some small, publicly traded companies, the agency said in a statement Friday (March 13). CEO of the Securities Industry and Financial Markets Association (SIFMA), has been in charge of the industry response to the outbreak.

Auditing 63

Auditing Compliance Securities Accounting 63

VCFO

AUGUST 25, 2022

Ensuring IT Security in Small- to Medium-Sized Businesses. Here, we take a look at today’s IT risk environment for SMBs, as well as the tools, processes, and services that one organization (vcfo) counts on to ensure their systems and data remain secure. Establishing a Security Baseline. Where are we most vulnerable?

Securities 78

Securities Prioritization Education Budgeting 78

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

DECEMBER 4, 2020

Munich prosecutors have launched an investigation into the Ernst & Young ( EY ) audit of Wirecard AG, compounding the firm’s troubles associated with $2.3 EY’s Wirecard fiasco triggered a 90 percent freefall in its share price in June, while critics have come down on the accounting firm for not noticing billions were missing.

Auditing 75

Auditing Accounting Firms Banking Accounting 75

PYMNTS

SEPTEMBER 15, 2016

Patent and Trademark Office for security risk detection technology. CyberArk said the technology has been implemented in the CyberArk Discovery and Audit (DNA) tool, which enables security professionals to quantify privileged account security-related risks and gain visibility into the attack surface that exists within enterprises.

Securities 68

Securities Technology Auditing Accounting 68

PYMNTS

JUNE 24, 2020

But even then, there were concerns about Wirecard’s accounting practices, the network reported. billion) were missing from the German payment processor’s accounts in two Philippines banks. Within days, Braun, 50, was arrested on charges of accounting fraud and market manipulation. billion euros ($2.1

Investments 104

Investments Auditing Accounting Firms Accounting 104

PYMNTS

APRIL 18, 2019

A new technology protocol announced by corporate accounting and auditing firm Ernst & Young (EY) aims to secure transactions made over public Ethereum blockchain. The solution aims to help enterprises and investors to conduct private, secure transactions on a public blockchain.

Securities 67

Securities Auditing Accounting Technology 67

PYMNTS

DECEMBER 18, 2020

and China over trade and security issues. Securities and Exchange Commission (SEC) in August. auditing standards by the end of next year, including opening up their audit records to U.S. Others have suffered from their own internal problems, such as Luckin Coffee, which was delisted in April over an accounting scandal.

Auditing 107

Auditing Valuation Treasury Marketing 107

PYMNTS

MAY 4, 2020

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.

Auditing 64

Auditing Compliance Economics Planning 64

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. In some cases, a state may have no requirement for an audit.

Auditing 52

Auditing Nonprofit Compliance CFO 52

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? Securities and Exchange Commission (SEC) has been actively involved in the ISSB technical readiness working group."

Accounting 75

Accounting SAP Analyzing Data IFRS 75

PYMNTS

JUNE 26, 2020

Mastercard and Visa are considering ending their agreements with Wirecard to process payments on their networks as the German financial technology company’s accounting scandal unravels, Bloomberg reported. Wirecard Founder and CEO Markus Braun was arrested earlier this week on charges of manipulating the market and misrepresenting accounts.

Accounting 101

Accounting Risk Management Startups Banking 101

Bramasol

JULY 22, 2023

Previous posts in this blog series o n Environmental, Social and Governance (ESG) and carbon accounting have spotlighted carbon accounting as a trend to watch , looked at ESG impacts on M&A , and tracked the emergence of new ESG standards.

IFRS 81

IFRS Accounting SAP Compliance 81

Future CFO

SEPTEMBER 14, 2020

The Enron scandal, one of the largest accounting frauds seen over the last three decades, led the company to file for bankruptcy in 2001. One way in which auditor independence can be compromised is when auditors simultaneously provide audit and non-audit services (NAS) to clients, and as a result become more beholden to these clients.

Auditing 52

Auditing Accounting Valuation Education 52

PYMNTS

JULY 2, 2020

The former chair of the London Stock Exchange is calling for a thorough overhaul of audit standards in the wake of the $2.1 Auditors should be required “to find fraud rather than stumble over it,” Donald Brydon , appointed last year to overhaul audit standards in the United Kingdom, told the Financial Times.

Auditing 56

Auditing Accounting Banking Marketing 56

https://trustedcfosolutions.com/feed/

JULY 19, 2022

QuickBooks is recognized for being a great basic accounting tool, and it is used by a lot of small businesses because it is user-friendly and affordable. Still, it is not an accounting solution that can handle business processes apart from financials. Sage Intacct is a cloud-based accounting solution that offers much, much more.

Accounts Payable 113

Accounts Payable Auditing Accounting Securities 113

PYMNTS

FEBRUARY 6, 2019

This shift has been so acute that small business cloud accounting firm Xero is even petitioning the Oxford English Dictionary to change the definition of “accountant” to one that includes the word “advise.” Changing Demand. That demand for human talent, by the way, hasn’t decreased.

Corporate Finance 74

Corporate Finance Accounting Finance Accounts Payable 74

CFO Plans

MAY 2, 2024

When it comes to revolutionizing your financial management, finding the right accounting partner is a critical decision. This introspection will guide you towards the ideal accounting partner that aligns with your unique needs. Look for an accounting partner that values open communication, responsiveness, and proactive problem-solving.

Accounting 52

Accounting Problem Solving Communication Compliance 52

CFO Share

APRIL 11, 2024

But many fear remote bookkeeping exposes them to security risks – hackers, fraudsters, and embezzlement – especially if the virtual bookkeeping solutions use employees in foreign countries. Bookkeeping security risks are always a valid concern, especially since internal staff perpetrate 57% of small business fraud.

Securities 52

Securities CFO Invoicing Education 52

PYMNTS

JULY 5, 2020

The German payment processing company’s operating performance in Europe and the Americas was far worse than previously known, according to a report from KPMG, the Netherlands-based global accounting firm, obtained by the newspaper. Wirecard’s filing insolvency two weeks ago has exposed a pair of deposits totaling $2.1

Auditing 68

Auditing Profit and Loss Valuation Accounting Firms 68

Future CFO

OCTOBER 22, 2023

Cloud accounting is rapidly gaining popularity among chartered accountants as digital technology advancements and the growth of cloud computing continue in today's world, posing opportunities for companies for innovation. The post Cloud accounting as the next step for chartered accountants appeared first on FutureCFO.

Accounting 52

Accounting Auditing Compliance Technology 52

Future CFO

JANUARY 26, 2024

The outcome is boosted efficiency, increased accuracy, cost reduction, and stronger supplier relationships—a game-changer in Accounts Payable that allows finance leaders to navigate uncertain economic conditions and elections with confidence. This proactive approach enhances security and prevents financial losses.

Accounts Payable 52

Accounts Payable Cash Flow Forecasting Accounting Invoicing 52

PYMNTS

JANUARY 9, 2019

In a 2017 report from job hunting site Indeed , researchers found that “small business accountant” was nowhere to be found in the top-10 job positions sought after by most small business employers. “Bookkeeping is the low-value work performed by accounting firms,” he said.

Accounting 71

Accounting Corporate Finance Accounting Firms Auditing 71

CFO Talks

OCTOBER 3, 2024

Implement Physical Controls : Use secure access controls for inventory and cash storage areas and install surveillance cameras where high-value items are kept. This type of fraud often aims to meet financial targets or secure financing under false pretenses. This helps reduce opportunities for fraud.

Invoicing 98

Invoicing Auditing Benchmarking Reconciliations 98

E78 Partners

SEPTEMBER 27, 2024

Data privacy and security are at the forefront of concerns for most organizations. Information security can be especially complex to implement and monitor across portfolio companies and sponsors. Stakeholders and decision makers should be fully committed to the process, prioritizing data security across all departments.

Compliance 59

Compliance Securities Leadership Prioritization 59

CFO Talks

NOVEMBER 25, 2024

Pressure to Manipulate Financial Results Example: The board pressures you to inflate revenue projections to secure a loan or attract investors, suggesting it’s “just this once” to meet strategic goals. Escalate concerns to the audit committee or external advisors if internal discussions don’t resolve the issue.

Leadership 98

Leadership Auditing Profit and Loss Compliance 98

PYMNTS

JUNE 23, 2020

Braun surrendered to Munich prosecutors after a judge issued a warrant as prosecutors investigate an accounting scandal that centers on a missing 1.9 Until his resignation Friday (June 19), when an audit revealed 1.9 There is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion euros ($2.1

Auditing 127

Auditing Accounting Banking Technology 127