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Thomson Reuters has added a Model Risk Management (MRM) solution to its Connected Risk platform, the company’s GRC software. MRM is designed to allow institutions demonstrate a real-time understanding of their financial model risk landscape, with the ability to report on the model’s governance status, sign-offs and related issues from a single platform source. Financial […]
BDO reported Thursday its global revenues grew 8 percent to $8.1 billion in fiscal year 2017 across its network of firms as its headcount grew 9.04 percent. The firm expanded its network from 158 countries and territories in 2016 to 162, with 73,854 people working in 1,500 BDO offices around the world. “BDO has had […]
Ernst Young has appointed Kelly Grier as the managing partner-elect and chairman of EY US, as well as managing partner-elect of EY Americas, succeeding Steve Howe, who has run EY’s U.S. firm since 2006. Howe will be retiring from the firm on July 1, 2018, and will be succeeded by Grier, who is currently regional […]
Ceterus, a Charleston, S.C. firm that provides managed bookkeeping and tax services for quick-service restaurants, has acquired Sandwich Math, an accounting and bookkeeping firm that focuses on sandwich restaurant franchises. The acquisition expands Ceterus’ base of restaurant customers, and its ability to provide them with benchmarked reporting. Financial terms of the deal were not disclosed. […]
Paychex reported the ninth consecutive month of declines in small business job growth for November, with wages also falling slightly. The Paychex | IHS Markit Small Business Employment Watch, which the payroll giant compiles with the research firm IHS Markit, indicated a modest decline in small business job and wage growth last month. The Small […]
Accounting standard-setters are tweaking the rules for the standards taking effect in the next few years, according to officials. Financial Accounting Standards Board chairman Russell Golden explained how FASB is using what he called the “Kaizen” approach to standard-setting, a Japanese word for “change for the better.” “It describes a process of continuous, incremental improvements […]
CPA.com, the technology subsidiary of the American Institute of CPAs, and audit software vendor CaseWare International have announced a cloud-based solution for preparation, compilation and review engagements. Called OnPoint, the solution will be available in early 2018, and incorporates checklists, information from AICPA technical guides and more to make these engagements more efficient, and to […]
House and Senate lawmakers are poised to begin working as soon as Monday on compromise tax-overhaul legislation—a key step in their drive to send a bill with tax cuts for corporations and individuals to President Donald Trump by the end of the year. Here are the latest developments, updated throughout the day: Senate May Name […]
The Securities and Exchange Commission has charged the auditing firm Anton Chia and several of its officials with fraud, accusing the Newport Beach, Calif.-based firm of conducting flawed audits and reviews of financial statements while violating securities laws. The SEC’s Enforcement Division alleges that the firm and its accountants ignored signs of fraudulent financial reporting […]
One of the last-minute, late-night changes Senate Republicans made to their tax-overhaul plan may mean higher taxes for corporations, including technology firms, than the bill’s drafters intended, experts say. As amended, the Senate tax bill would preserve the existing 20 percent corporate alternative minimum tax, a levy designed to stymie companies’ tax avoidance that applies […]
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