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Lessons learned from the Bybit hack: A forensic accountant’s perspective
How the attack unfolded and what steps can be taken to prevent similar incidents.
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FASB issues new income statement expense rules for public companies
More information on cost of sales, cost of goods sold, and research and development in reports expected from new rules.
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SEC charges ex-finance director at CIRCOR International with accounting fraud
Company settled SEC charges for related accounting controls violations, avoiding penalties because of its self-reporting, cooperation and remediation efforts.
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OCC updates bank accounting FAQs
Bank Accounting Advisory Series updates revised for clarity.
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PCAOB adjusts personal liability standard, FASB plans for enviro accounting
Auditors face a greater chance of being held personally liable for negligent missteps under adjusted PCAOB rules.
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PCAOB proposal seeks to increase auditor vigilance against fraud
Proposed changes will strengthen auditor requirements to locate and communicate noncompliance with laws and regulations.
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Fix data and connectivity issues before AI accounting tools can deliver
Generative AI tools could transform accounting, but messy data and lack of vendor cooperation may stall progress.
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Bribes, crypto fraud and unregistered brokers attract SEC charges
In this week’s roundup, we see a mix of charges, including disclosure failings within a donor data management software company.