All Accounting & Auditing articles – Page 30
-
Article
How audit committees should prep for coronavirus challenges
Hille Sheppard of Sidley Austin offers some insights into what tactics audit committees should employ to confront uncertainties caused by the coronavirus pandemic.
-
Article
EY audit of NMC Health under investigation
The U.K. Financial Reporting Council has opened an investigation into EY’s audit of the 2018 financial statements of NMC Health, which is currently under investigation for accounting fraud.
-
Article
PwC guidance: Navigating audit committee responsibilities amid the coronavirus pandemic
Internal auditors will want to check out a recent publication from PwC on how to navigate core audit committee responsibilities amid the coronavirus pandemic.
-
Article
Two former Penn West execs settle accounting fraud charges with SEC
The former CFO and former VP of accounting and reporting at Penn West Petroleum have settled SEC charges for their role in an accounting fraud scheme that spanned several years.
-
Article
Analysis: Luckin Coffee saga a case of déjà vu?
Financial crime expert Martin Woods ponders how the SEC can ensure foreign companies, like China-based Luckin Coffee, that publicly trade in the U.S. can apply the proper standards of compliance, financial reporting, and even whistleblower protections.
-
Article
FASB Q&A tackles coronavirus effect on hedge accounting
FASB staff issued a question-and-answer document to address uncertainty about the effects of the coronavirus pandemic on cash flow hedge accounting under Accounting Standards Codification Topic 815.
-
Article
CAQ exec: How audit must adapt amid coronavirus challenges
Julie Bell Lindsay, executive director of the Center for Audit Quality, shares her perspectives on how public company auditors are coping with new challenges from the coronavirus pandemic.
-
Resource
White paper: Lease Accounting Software Buyer’s Guide
Choosing the wrong solution for your lease accounting needs has huge implications for your business, including risking inaccurate lease financials. You’ll want to select a comprehensive solution to manage your leases, and our Buyer’s Guide can help you do just that.
-
Article
Analysis: EY now faces questions of trust
In the case of Amjad Rihan versus EY, a question of trust has opened a can of worms. Financial crime expert Martin Woods explores.
-
Article
Analysis: EY brand takes beating in case vs. whistleblower
What does the Amjad Rihan case do to the brand of EY and, more pointedly, those who spend time with EY as clients? Financial crime expert Martin Woods offers his take.
-
Article
Eni to pay $24.5M to resolve FCPA charges
Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.
-
Article
PCAOB seeks more practitioner input on CAMs
The Public Company Accounting Oversight Board is seeking practitioner comment on Critical Audit Matter requirements, part of the agency’s strategic plan to solicit more input from stakeholders.
-
Article
U.K. court orders EY to pay $11M to whistleblower, a former partner
A former EY partner who blew the whistle on a massive money laundering scheme was awarded nearly $11 million by a U.K. judge, settling a lawsuit in which he claimed EY buried an audit that uncovered wrongdoing by a client.
-
Article
SEC censures Schulman Lobel for deficient audit engagements
The SEC censured audit firm Schulman Lobel and ordered it to pay a total of $98,510 for deficient audit and review engagements it performed on now-defunct software provider Quadrant 4 System.
-
Article
Study: Going concern opinions in 2018 at lowest level in 19 years
Public company audit opinions communicating doubts about their ability to continue as going concerns reached a 19-year low in 2018, based on the latest report from Audit Analytics.
-
Article
SFO: Tesco concludes three-year DPA for accounting scandal
The U.K. Serious Fraud Office announced British supermarket chain Tesco Stores has fulfilled the terms of its 2017 deferred prosecution agreement resulting from an accounting fraud scandal.
-
Article
FASB Q&A addresses lease concessions related to coronavirus
FASB staff has issued interpretative guidance in the form of a question-and-answer document addressing accounting for lease concessions related to economic effects of the coronavirus pandemic.
-
Article
Luckin Coffee, iQIYI fraud allegations point to wider China problem
Scathing reports against China-based Luckin Coffee and iQIYI both alleging fabricated revenues are the latest examples of a much broader accounting and auditing problem in the United States.
-
Article
FASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
-
Article
AICPA best practices for conducting remote audits in uncertain times
Auditors facing higher audit risks and new accounting and reporting issues as a result of the coronavirus pandemic and downturns in the economy have some new guidance from the AICPA.