The changes emerging for audit firm quality management standards may pose implementation challenges for firms that are comparable to those caused by Section 404(b) of the Sarbanes-Oxley Act for audit clients a generation ago, according to KPMG’s Christian Peo, CPA. Yet Peo, KPMG’s national managing partner for audit quality and professional practice, is excited about […]
Archives for 2021
Financial Planner Saunderson House to axe jobs
London-based Financial Planning firm Saunderson House is to cut about 25 jobs as the pandemic forces the firm to cut costs. The company confirmed today that a number of jobs would go but declined to comment on the number. Financial Planning Today understands that about 25 or 26 roles will be axed and some may […]
FCA faced torrent of nuisance emails in 2020
The Financial Conduct Authority received 238,711 malicious and unsolicited emails in one three month period in 2020, according to a Freedom of Information request. The watchdog’s mail servers blocked an average of 80,000 emails per month in the last three months of 2020. While the data released by the FCA only covers three months the […]
Blog: SEC enforces a clawback for accounting violations – JD Supra
Remember the clawback provision of SOX 304? That provision provides a reimbursement remedy against CEOs and CFOs when the issuer has restated its financial statements as a result of misconduct. Although the provision was enacted in 2002, it wasn’t until 2007 that an executive was successfully hit with a clawback claim (and a big one […]
Spotify Suffers Second Credential-Stuffing Cyberattack in 3 Months
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EPF Interest taxable beyond 2.5 Lakh – Impact Analysis
As per new provision made in budget 2021 EPF interest amount beyond 2.5 Lakh is taxable. If you are contributing higher amount in EPF you will be affected by the new provision. Let’s discuss this new income tax provision and its impact. EPF Interest taxable beyond 2.5 Lakh Presently, any amount received by an employee […]
Palihapitiya-backed Clover Health shares fall on critical report by short seller Hindenburg Research
Source: Clover Health Shares of Clover Health fell more than 8% on Thursday following a critical report from short seller Hindenburg Research claiming the company is under an active investigation by the Department of Justice that it has not disclosed to investors. CNBC has not independently verified the claims. Clover declined to comment, but said […]
10 Types of Business Budgets to Keep Track of Your Company’s Cash
Your small business budget is an important tool for your company. It guides your spending habits throughout the year, helps you avoid overspending, and helps you make important financial decisions. But, budgets aren’t one-size-fits-all. Every business’s budget looks a little different. And, there are a number of different types of business budgets to keep on […]
Talking stocks LIVE with Professor Scott Galloway tonight
📝 @profgalloway may be a professor, but join us on Feb. 4 to watch @reformedbroker put his stock portfolio to the test. https://t.co/5e1YsZXtSS pic.twitter.com/uP8uJgPgBT — Public.com (@public) January 14, 2021 The folks at Public.com are hosting Professor Scott Galloway and I for a chat about his stockholdings. It’s going to be a lot of fun, […]
New approach to quality management proposed by ASB
A new approach to quality management was ushered in Thursday by the AICPA Auditing Standards Board (ASB), which issued an exposure draft of three interrelated proposed standards. The proposed standards are designed to bring important changes to the way firms will manage quality in their accounting and auditing practices. The standards the ASB is proposing: […]