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KPMG fined £1.5M over Saatchi audit failings

Accounting Today

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

Auditing 334
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SEC taps new chief accountant

Accounting Today

Hohl has close to 40 years of accounting and auditing experience. In 2023, he founded Corallium Advisors, which helps businesses with auditing, regulatory compliance, risk management, and initial public offerings. Acting chief accountant Ryan Wolfe will be returning to his role as chief accountant in the Division of Enforcement.

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Using Caseware and Wagepoint to streamline your EOFY

Xero

Complete year-end compliance work faster with Caseware Caseware is a Canadian-born, global provider of audit, financial reporting and data analytics solutions for accountants and bookkeepers. It’s all part of our work to make life better for people in small business and their advisors across Canada.

XERO 242
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Majority use AI in financial reporting, auditors expected to review use

Accounting Today

A KPMG survey found 72% of companies are using AI in their financial reporting process to some extent, and executives expect auditors will start examining controls around the technology.

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Data Talks, CFOs Listen: Why Analytics Are Key To Better Spend Management

Speaker: Claire Grosjean, Global Finance & Operations Executive

Join Claire Grosjean for a dynamic discussion on how finance leaders can leverage data-driven strategies to improve spend visibility, enhance forecasting accuracy, and drive cost optimization without losing sight of the human element that makes financial decision-making effective. Master the balance between analytics and action.

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Audit partners see more use of AI at public companies

Accounting Today

Nearly one-third of public companies are using artificial intelligence in their financial reporting, according to a new survey.

Auditing 331
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Tax Fraud Blotter: Sick excuses

Accounting Today

After an IRS audit in 2016 assessed a federal tax debt totaling some $1 million, Archer concealed and transferred assets through two LLCs he controlled and began using third-party bank accounts to evade paying the tax debt. Bui anticipated that the transactions would be audited.

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