Under Armour Faces Federal Accounting Investigation The S.E.C. House approves restrictions on Chinese companies listing in U.S. We use a variety of seminars and events as one of our many tools to engage and educate our clients. Essential coverage of accounting’s key issues. The adoption of technologically-driven solutions in the … 2020 future trends in meetings and events. Rise of Accounting Software Solutions. Friday, December 04, 2020 On November 24, the County of Delaware, Pennsylvania discovered a disruption to portions of its computer network. Accounting Today April 2020. Our 2020 accounting calendar templates available all different period end closing format, Like 4-4-5, 4-5-4 and 5-4-4 week. The Financial Accounting Standards Board proposed three amendments to its leases standard prompted by post-implementation feedback from stakeholders. From the IFRS Institute – May 29, 2020 COVID-19 has taken a toll on US businesses, with many financial reporting implications. 2020-09-25T16:21:00+01:00By Aaron Nicodemus. Accounting and reporting. Pages files cannot be read by Canvas. A review by the U.K. Financial Reporting Council found large companies will instinctively hire a Big Four firm as auditor, despite efforts by the regulator to break their dominance and open up the country’s audit market to smaller competitors. “(1b)”). 2020-## Accounting implications of the effects of coronavirus At a glance This In depth considers the impact of the new coronavirus (‘COVID-19’ or ‘the virus’) on the financial statements Match your accounting specialization to one of our 35+ annual events. The payment company is ensnared in an accounting scandal after it admitted that $2 billion in its accounts probably did not exist. CFO Journal. The amendments in this Update are effective for all entities as of March 12, 2020 through December 31, 2022. Markus Braun built Wirecard to “conquer the world,” but those aspirations attracted skeptics. 2020-09-25T18:40:00+01:00By Aaron Nicodemus. The Financial Accounting Standards Board finalized an update to its standard on accounting for long-duration contracts at insurance companies that will delay the effective date by one year and ease compliance burdens for early adopters. The chairman and chief executive of Big Four auditing firm EY says auditors should do more to uncover fraud while conducting external audits, a topic the industry has historically been reluctant to tackle. 2020 accounting period calendars are available in Microsoft Word, Excel (xls), and in PDF format. We help small businesses who need an extra hand with their accounting system. Accounting software. SAExploration Holdings has been accused by the SEC of perpetrating a $100 million accounting fraud that involved routing payments through shell companies so it appeared to be legitimate revenue. China’s market competition regulator announced a fine of 61 million yuan (U.S. $9 million) against Luckin Coffee and a group of affiliated firms in response to the coffee chain’s inflated sales scandal. 2020-10-29T18:39:00+00:00By Jaclyn Jaeger. Tue, Sep 22nd 2020. watch now. Resources Resources. 2020-10-27T06:15:00+00:00Provided by Workiva. A few clear cut reasons accounting is essential to include taxes and money management. 2020-12-03T15:50:00+00:00By Kyle Brasseur. A subsequent event is an event that occurs after a reporting period , but before the financial statements for that period have been issued or are available to be issued. 2020-10-21T19:40:00+01:00By Kyle Brasseur. Events. Accounting Standards Update 2020-03—Codification Improvements to Financial Instruments: March 2020: Issues 1,2,4 and 5 The amendments related to Issue 1, Issue 2, Issue 4, and Issue 5 are conforming amendments. Accounting Today May 2020. HP has agreed to pay $6 million in a settlement with the Securities and Exchange Commission to resolve allegations of disclosure violations and control failures regarding improper sales practices. The ramifications of the coronavirus crisis will long outlast it—including how companies will close the books and ensure SOX compliance and where accounting and audit staff who perform these tasks will be located. … March 5. Audits. The 2020 Audit Committee Transparency Barometer, an annual report issued by the CAQ and Audit Analytics, explores new disclosure trends related to the coronavirus pandemic and critical audit matters. November 24, 2020 Like-kind exchange rules define real property, incidental personal property The IRS issued final regulations that define real property for like-kind exchange purposes and what qualifies as incidental personal property that will not disqualify an exchange. December 09, 2020. webinar: Private Equity Virtual Deal Panel Webinar. They commenced an immediate investigation that included taking certain systems offline and working with computer forensic specialists to determine the nature and scope of the event. Welcome to ComplianceWeek.com. An internal whistleblower exposed a scheme by three executives of a Chicago-area engine manufacturer to improperly inflate revenue and cover their tracks by lying to company accountants and independent counsel. Most were required to rapidly shift to remote work environments, and some have even had to adjust their business models. Banking & Finance Current Affairs 2020 read all the latest Banking & Finance Current Affairs Updates for 2020 at Fresherslive.com. 2020-12-07T21:34:00+00:00By Aaron Nicodemus. 2020-10-01T20:08:00+01:00By Jaclyn Jaeger. His most recent concern for the shares is the Current Expected Credit Losses (CECL)—a new accounting model for credit losses that the Financial Accounting Standards Board … By Ranica Arrowsmith. ... Ex-Wirecard CEO arrested as embattled payment firm's accounting crisis deepens. November 23, 2020 Cash Flow. News and intelligence for Australian Accountants, focusing specifically on issues and industry developments that are of significance to the accounting profession. We asked accountants and other specialists to help sort it all out. Participants will be eligible for 1.5 CPE credits in the field of accounting for attending one of the three sessions. 2020 Current Events When people are searching the web for current events summaries they can trust, they almost always end up on Infoplease.com. Get deep insights and breaking-news updates, delivered by the top experts in your accounting specialization as you earn CPE credits, expand your professional reach and challenge yourself within your chosen profession. Accounting and reporting implications for investment funds to consider in the current economic environment. CARES Act. Top ethics and compliance failures of 2020, Paul Sarbanes, co-author of SOX accounting law, dies at 87, Ex-KPMG exec avoids prison in final cheating scandal sentencing, Congress passes bill forcing Chinese companies to comply with U.S. audit rules, Gartner report: How coronavirus has altered audit risks for 2021, Report shows Big Four stranglehold in U.K. near unavoidable, Lookers discloses $60.5M loss following accounting fraud probe, U.S. regs urge banks to transition from LIBOR ‘as soon as practicable’, PCAOB to adopt SEC auditor independence updates, Things to consider for companies preparing for 2020 year-end audits, FASB delays, eases early adoption for long-duration insurance standard, Audit committee best practices for understanding and acting on cyber-threats, ESMA review slams German authorities’ supervision of Wirecard, JPMorgan Chase facing potential fine for internal control deficiencies, California accounting board fines KPMG $1.3M for cheating scandal, FRC: Major audit quality at Grant Thornton UK, Mazars ‘unacceptable’, White paper: 15 Critical Success Factors for Your Equipment Leasing Program, GE reserves $100M for potential SEC accounting enforcement, e-Book: IIA Three Lines Model: Reading between the lines, FRC pushes for clarity on audit’s role in finding fraud, FASB proposes three amendments to leases standard, How auditors can help companies with non-GAAP measures, KPIs, CAMs, coronavirus highlight audit committee transparency report, Chief Auditor Zietsman to join PCAOB board, Split SEC loosens conflict-of-interest rules for independent auditors, Webcast: Innovations emerge as internal audit adapts, Ex-KPMG partner avoids prison in cheating scandal sentencing, SAExploration accused of $100M accounting fraud, U.S. agencies get nod for using data, smart incentives in enforcement, GE facing potential SEC action over accounting issues, Deloitte: Top-of-mind challenges for Q3 financial reporting, EY allegedly flubbed Wirecard dealings worse than we thought, HP fined $6M for disclosure violations and control failures, ‘Audit in Action’: BDO partner shares data analytics journey, SEC charges Manitex, three former execs with accounting fraud, Fiat Chrysler fined $9.5M for ‘misleading disclosures’ on diesel emissions, Two companies charged in landmark SEC data analytics cases, Survey: Practitioners weigh in on IIA’s new Three Lines Model, Internal whistleblower exposes fraud at Illinois engine manufacturer, Lighting company, four executives fined for improperly booking revenue, Chinese regulator fines Luckin Coffee, affiliated groups $9M, FRC fines Deloitte record $19.4M for Autonomy audit failures, EY chairman: Auditors should work harder to find fraud, CPE Webcast: Ground rules for ensuring SOX compliance from anywhere, PCAOB adds independence, evidence projects to agenda, e-Book: Agile Lease Accounting During Uncertain Times, Report: 2019 restatements at 19-year low; revenue still top issue, FBI reforms compliance procedures, to establish new audit office, Samsung heir indicted on market manipulation, accounting fraud charges. 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