Accounting
Wells Fargo Settles Shareholder Class Action Suit for $1 Billion
The federal suit claimed the bank made “materially false and misleading statements” about its compliance with consent orders it had with federal regulators over previous practices.
Banks Face Increased Regulatory Oversight
U.S. regulators are ratcheting up oversight efforts across the banking system as they lack the ability to quickly overhaul rules to blunt turmoil that’s already collapsed four mid-sized lenders.
Top 20 Firm Leads IPO Auditor Market Share in Q1 2023
Twenty-five different firms audited the 46 IPOs completed in the first quarter of this year, with one firm's seven leading the way.
U.S. Companies Embrace Automation and Digitization
The number of companies in the U.S. that automate some of their work is expected to climb to 74% in three years, up from 65% this year and 51% three years ago.
SEC Ramped Up Enforcement for Accounting and Auditing in FY 2022
The SEC disclosed 68 accounting and auditing enforcement actions in FY 2022, up 55% from the previous fiscal year.
Illinois CPA Society Honors 2023 Women to Watch Award Recipients
Each year, Women to Watch Awards are presented in two categories, Emerging Leader and Experienced Leader.
AICPA and Other Groups Call Attention to New Beneficial Ownership Information Reporting Requirements
BOI is an anti-money laundering initiative enacted through the Corporate Transparency Act (CTA) in 2021.
Survey Shows Drop in Consumer Trust in Banks
Opinions on financial institutions acting “honestly and ethically” shifted among those with different racial backgrounds in the two polls.