Heads up: Public accounting firms will need to implement (or update existing) quality control protocols. And they must reevaluate their quality programs on an annual basis under a recently announced accounting standard. The Quality Control (QC) 1000 standard was adopted…
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The traditional "bean counter" role of the CFO is a thing of the past. Today's financial leaders are expected to boost efficiency and cut waste across all areas of their organizations. As a result, the typical CFO works well over…
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…
Companies aren't nearly done tightening their belts as the economy slows down. Many are cutting back on vendor services or considering switching to other vendors. The obvious upsides to this approach is cost-savings and better goods and services. The downside:…
Believe it or not, more than 80% of workers like their employers' Paid Time Off (PTO) packages. But that doesn't stop a surprising percentage of workers from abusing it. Thirty-seven percent of Millennials (workers in their late 20s, 30s and…
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…
That familiar voice on the phone? Could be a deepfake. The face you've seen a thousand times in meetings? Don't assume it's the real person talking to you on a video call. Cyber criminals are perfecting new scams using AI,…
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 Biden administration slipped through four environmental rules designed to put the coal industry out of business. One of the rules mandates power plants capture carbon dioxide before it escapes into the atmosphere and store the greenhouse gas underground. The…
