Why accountants are critical for ESG accounting
From www.icaew.com: ICAEW President Malcolm Bacchus emphasized the critical role of accountants in integrating Environmental, Social, and Governance metrics into financial reporting at the … read more
Accounting & Audit
10 common errors in buy-side due diligence
From www.cfo.com: Weak financial due diligence often leads to failures in mergers and acquisitions due to common errors made by buyers.
Key mistakes include … read more
How a strategic focus to audit niche fuelled growth
From www.accountingweb.co.uk: (UK context) Byrd + Link, winners of the 2024 Accounting Excellence Small Firm of the Year Award, specialized in statutory audits to … read more
Q4 2024: Essential Income Tax Accounting Insights
From alvarezandmarsal.com: (US context) As the 2024 financial reporting season nears, organizations must assess recent developments impacting income tax accounting under ASC 740 and … read more
Let’s Give KPMG a Golf Clap
From www.goingconcern.com: (US context) KPMG is set to release its best audit inspection report in 15 years, with projections indicating a deficiency rate of … read more
FRC review benchmarks climate-related financial disclosures
From www.icaew.com: (UK context) The FRC’s Thematic Review of Climate-related Financial Disclosures highlighted inconsistent quality and information gaps in the reports from AIM and … read more
Curious aspects to shake-up of accounting, auditing
From www.themandarin.com.au: The Albanese government proposes a restructuring of accounting, auditing, and sustainability reporting rules, emphasising transparency in the standard-setting process.
The new model … read more
SMSF auditors and s 109
From www.dbalawyers.com.au: Approved SMSF auditors should retain full copies of all executed leases for each SMSF real property asset for the entire financial year … read more
How to screen Companies’ data for corruption red flags
From www.icaew.com: (UK context) Graham Barrow, a fraud expert, presented methods to analyze Companies House data for signs of fraudulent registrations during an ICAEW … read more
Accounting, audit bodies merger: 4-week consultations
From www.themandarin.com.au: Stakeholders have one month to respond to a proposal from Treasury to merge the existing accounting and audit standard-setting bodies into a … read more
Streamlining Australia’s financial reporting
From ministers.treasury.gov.au: The Albanese Government is launching a consultation to gather feedback on a proposal to streamline Australia’s financial reporting architecture by creating a … read more
Lessons from Lloyd’s crisis still relevant today
From www.icaew.com: (UK context) Edmund Lester’s book, “Lloyd’s in Crisis: The Insurance Scandal of the Twentieth Century,” details the governance failures at Lloyd’s of … read more
Small firm barriers to auditor registration
From www.accountantsdaily.com.au: Small accounting firms face significant challenges in becoming ASIC-registered company auditors due to legislative requirements that favor larger firms.
Obstacles include strict … read more
FASB proposed changes to accounting standards
From www.journalofaccountancy.com: FASB is seeking public feedback on a proposed Accounting Standards Update (ASU) that addresses 34 issues to improve its codification as part … read more
Inside the world’s biggest financial frauds
From www.acuitymag.com: ‘Which fraud cases have delivered major financial blows in recent decades – and what were the broader systemic, economic and legislative repercussions?’… read more