Why CFOs Need to Care About Accounting
The Securities and Exchange Commission is on a mission — gunning for instances of accounting fraud. For the first time since 2007, the SEC’s enforcement actions against companies alleged to have cooked the books is higher than the previous year, up 46% to 99 enforcement actions.
This year’s enforcement actions could be even higher, given the release of the first cases by a new SEC task force tasked with ferreting out financial reporting misconduct. If caught within the commission’s crosshairs, the sanctions are severe — tens of millions of dollars in penalties plus the ignominy of public revelations on business prospects. Read the full story.
IIA Merges with Auditing Roundtable
The Institute of Internal Auditors is merging with the Auditing Roundtable to create a new Environmental, Health, and Safety Audit Center that will serve environmental, health and safety auditors around the world, starting in 2016. Read the full story.by