What Ought to Your CPA (Actually) Know About Blockchain? [Forbes] Taxation, monetary reporting and disclosure, and serving to to instill confidence, through audits, in valuations of cryptoassets, are a minimum of partially depending on accountants having the ability to deal with the workload related to blockchain. Concurrently there was debate about what blockchain, and what blockchain because it connects to different rising applied sciences, means for the way forward for accounting. Will auditors be made irrelevant? Can CPA’s and accountants sustain? What does this imply for monetary reporting, and different areas like environmental, social, and governance (ESG) reporting?
Tech agency: GDPR ‘at risk of failing’ as a consequence of lack of assets [Compliance Week] A brand new report says Europe’s information safety regulators don’t have the abilities, data, or funds to successfully implement such privateness guidelines because the GDPR.
AICPA addresses CPA firm-lender points associated to PPP [JofA] The AICPA provided suggestions Thursday for the CPA firm-lender relationship associated to corporations helping shoppers which might be looking for Paycheck Safety Program (PPP) funding. Within the curiosity of advancing a transparent and orderly mortgage utility course of, the AICPA really useful that the CPA contact the lender earlier than providing help to and performing advisory work for the consumer.
CARES Act QIP change requires motion [JofA]
Tesla Shares Decline After Einhorn Publicly Questions Automaker’s Accounting Practices [Yahoo] Greenlight Capital founder Einhorn, who is thought for having short-sold Lehman Brothers’ inventory earlier than it collapsed in 2008, tweeted Musk straight, asking him and the Tesla chief monetary officer Zach Kirkhorn pointed questions. Describing his inquiries as “Extra Boring Bonehead Questions,” Einhorn questioned the veracity of Tesla’s accounts receivable, his shuttered factories, and the impact of foreign money market actions on the corporate.
PwC’s office contact tracing app received’t share information with public well being officers [VentureBeat] As some nations declare the top of coronavirus neighborhood unfold and plan for a secure return to work, surveillance expertise seems to be turning into a a lot larger a part of the office. Already real-time laptop imaginative and prescient and thermal cameras are starting to enter the office to make sure social distancing or discover individuals with elevated temperatures, and final week, PricewaterhouseCooper (PwC) launched computerized contact tracing referred to as Verify-In for enterprise companies to trace staff.
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