Financial and Accounting News
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September 27, 2024
UK Accounting Regulator Mandates Disclosure of Private Equity Investments in Audit Firms
The Financial Reporting Council (FRC), the UK's accounting watchdog, has issued a directive to major audit firms, requiring them to disclose any plans to sell stakes to private equity (PE) investors. This move comes as the accounting sector anticipates a possible influx of private equity capital, raising concerns about maintaining the integrity and independence of audit practices.
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June 27, 2024
Enhancing Auditors' Approach to Fraud: Integrating Forensic Techniques
Addressing the risk of fraud in financial audits is increasingly complex. The AICPA Auditing Standards Board (ASB) has conducted interviews with forensic professionals to gather insights on improving fraud detection during audits.
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April 11, 2024
The Pivotal Role of Industry Average Financial Ratios in Economic Analysis
Explore the critical role of industry average financial ratios in economic analysis. Ideal for financial analysts, investors, and business strategists seeking to leverage financial metrics for enhanced decision-making and strategic planning.
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March 15, 2024
EU Adopts New Corporate Sustainability Reporting Directive (CSRD) to Enhance Transparency and Accountability
The Corporate Sustainability Reporting Directive (CSRD) entered into force on January 5, 2023, marking a significant shift in sustainability reporting requirements for companies within the European Union (EU).
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February 13, 2024
Revolutionizing Audits: The Transformative Power of AI in Enhancing Efficiency and Accuracy
Artificial Intelligence (AI) is rapidly transforming the auditing landscape, offering unparalleled efficiency and precision in data analysis. As the auditing field grapples with vast amounts of unstructured data, AI ...
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January 19, 2024
Deloitte's Oversight in Tingo's $412 Million Fraud Raises Questions About Auditing Integrity
In a significant oversight by Deloitte, one of the 'Big Four' accounting firms, a massive financial discrepancy was uncovered in the financial statements of the Nigerian company Tingo Group. Despite Deloitte's ...
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December 26, 2023
Why Should We Invest In Supplemental Insurance?
Many employers offer group insurance to help their workforce financially. However, for other employees with unique needs and situations, their current employer-sponsored insurance may not be enough.
This is ...
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October 11, 2023
Financial Analysis: Higher Rates for Longer
In the ever-evolving landscape of global finance, the recent surge in interest rates and its potential impact on the extended economic recovery is a topic of paramount concern. As we delve into the intricate web of ...
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June 22, 2023
Failures Shake KPMG's Dominance on Bank Audits
Bloomberg questioned KPMG's reputation as a reliable bank auditor.
KPMG, one of the leading members of the prestigious "Big Four" accounting firms, is facing a significant challenge to its dominance in bank ...
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May 5, 2023
New Data on US Companies and Industry Benchmarks
We have updated the database of financial statements for the world's largest US-listed companies. These public companies regularly report to the SEC, which publishes their financial statements on its website.
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