Audit & Accounting

Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it. Now, perhaps Joe Biden will.

President Biden has picked Allison Herren Lee, a member of the Securities and Exchange Commission, as the acting chair of the SEC, as nominee Gary Gensler waits in the wings as a more permanent chair once he is confirmed by the Senate.

Financial executives feel that the requirements for documenting their organization’s internal controls are getting to be too much and many of them are behind the curve when it comes to applying technology for internal control over financial reporting, according to a new report.

The Association of Chartered Certified Accountants found the majority of accountants internationally believe they are in an inclusive profession, but nearly two-thirds think the profession still has an issue to deal with when it comes to diversity.

Given the turbulence of the past year, agility should be at the forefront of our minds when building a budget and strategy for 2021.

PricewaterhouseCoopers released an update Tuesday to its annual audit quality report for the firm, pointing to improvements on inspection results from the Public Company Accounting Oversight Board.

President-elect Joe Biden’s team of financial regulators is taking shape, with progressive favorites being chosen for the top jobs at the Securities and Exchange Commission and the Consumer Financial Protection Bureau — moves that mean Wall Street should prepare itself for a new era of tougher oversight and stricter rules.

Here are five ways the latest round of the Paycheck Protection Program is different.

Digital formats and a host of pandemic-related questions are transforming this traditional tool.

A member of Deutsche Bank AG’s supervisory board faced criticism from lawmakers and the bank itself for suggesting that Wirecard AG go after journalists that had written critical stories about the since-collapsed payments company.