Companies are now complying with the Securities & Exchange Commission's (SEC) cybersecurity breach rule. Or maybe over-complying would be the more apt term for it! Microsoft (MS) is just one of a handful of companies that recently filed a Form…
Accounting
The demand for finance chiefs is growing. Yet more companies are replacing their CFOs. Even so, CFOs are a lot less worried about AI taking their jobs. Confused yet? Don't be. All three of these scenarios can be true at…
Businesses are looking for competent number-crunchers. Some are even desperate to find talent. But the next wave of finance professionals is in short demand. And the reason is pretty simple ... ... accountants are being paid too little to meet…
How did a diversity, equity and inclusion (DEI) program manager defraud Facebook and Nike of more than $5 million? With the help of crooked relatives and friends, as it turns out. Former DEI program manager Barbara Furlow-Smiles was sentenced to…
The Financial Accounting Standards Board (FASB) is taking a scalpel to its still-in-the-works expense reporting standard. If and when the board finalizes the standard, manufacturers and warehouses will likely catch a break. FASB is now open to excluding manufacturing and…
Heads up: Accountants will no longer enjoy a 45-day grace period to file financial reports after completing an audit. The Public Company Accounting Oversight Board (PCAOB) is shortening the two-decades-old filing deadline to 14 days after an audit is officially wrapped…
You can't be too careful out there! Fraud is a risk in every area of finance -- even the auditor hired to analyze data and file truthful reports may be cutting corners. The Securities and Exchange Commission (SEC) charged a…
The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of wealthy companies as well as owners and investors who run afoul of tax…
Not all companies handle payroll records the same way. Firms may keep data in multiple systems -- payroll, HR, timekeeping and the general ledger. There's no one-size-fits-all rule for everyone. Same goes for ditching payroll records that aren't required by…
The wave of tech fraudsters landing in the slammer rolls on. Elizabeth Holmes of Theranos infamy, crypto hustler Sam Bankman-Fried ... and now Manish Lachwani, the ex-CEO of HeadSpin, an analytics startup he co-founded. Lachwani inflated his company's worth and…
The majority of publicly traded companies say they will continue to voluntarily report greenhouse gas (GHG) emissions that are linked by many scientists to manmade climate change, so as to be transparent with investors. But the minority of companies that…
Auditors sought a single principle for accounting of software costs. But after months of consideration, the Financial Accounting Standards Board (FASB) is shelving the project. FASB announced current guidance will remain in place. Board members "decided not to further pursue…
