Having an accounting background is no longer a must for a company's chief financial officer (CFO), according to a report by The Wall Street Journal .
For example, when directors of Hannon Armstrong Sustainable Infrastructure Capital were looking for someone to fill the role, they were more worried about hiring someone who had experience with raising debt and equity, and they didn't care if the person was a former accountant.
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Orange County Great Park auditor surrenders accounting license after legal battle with state
An Irvine firm that conducted two audits of the Orange County Great Park surrendered its accounting license on Monday after the California Board of Accountancy said it "failed to comply with professional standards, engaged in numerous acts of negligence, and disseminated false and misleadingly information."
The state agency had filed a complaint in January 2018 — later updating it in March 2019 — against Hagen, Streiff, Newton & Oshiro (HSNO). In addition to the license forfeiture, the firm agreed to pay a $150,000 penalty and a reimbursement of $400,000 to the state accountancy board.
Gilded offers first open finance platform built on a blockchain | Accounting Today
Gilded has released a first-of-its-kind open finance platform built on a blockchain. The platform offers accounting, payments and invoicing functionality.
Gilded takes care of everything from invoicing and payments, to accounting and tax reporting for cryptocurrency. The system offers non-custodial verification of crypto payments and support for Coinbase, a crypto exchange platform. Of course, in the current environment, businesses still need to operate in the traditional financial world — consequently, Gilded also offers conventional payment options like credit cards via an integration with Stripe.
Why You Don't Need to Be an Accountant to Be a CFO - WSJ
Directors of Hannon Armstrong Sustainable Infrastructure Capital Inc. congregated in the boardroom in late 2018. On the agenda: the ideal résumé of their next finance chief.
They wanted to fill the impending vacancy with someone who had expertise in raising debt and equity—a priority for the Annapolis, Md.-based investment firm.
The board also decided they could do without one particular qualification. Having appointed a chief accounting officer in 2017, they didn't care if the new chief financial officer had an accounting background.
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NAFS/Voycare Engages Accounting Firm to Begin Consolidation of Books
COVINA, CA / ACCESSWIRE / January 29, 2020 / North America Frac Sand Inc. (OTC PINK:NAFS) ("NAFS" or the "Company"), also known as Voycare, a medical tourism service provider in California is excited to announce the Company has engaged with its accounting firm of record to move forward with the consolidation of its books in order to bring the Company's accounting current.
"One of the major responsibilities we have to our shareholders to is to make sure our financials are current and for them to have access to the latest numbers in order to make more informed decisions about investing in our company," said Hong Chen, CEO of Voycare. "Nothing gives our shareholders more investor confidence than full transparency in the numbers and we are working diligently to provide just that."
Former Great Park Auditor Surrenders Accounting License | Voice of OC
The firm responsible for conducting two controversial Great Park audits surrendered its accounting license Monday after settling a complaint with the California Board of Accountancy.
Hagen, Streiff, Newton & Oshiro (HSNO) allegedly didn't follow accounting standards, misled the Irvine City Council and lied about cooperation by Great Park contractors in two separate audits, according to the March 2019 complaint filed by Patti Bowers, executive officer of the California Board of Accountancy .
Danske's EY auditors face disciplinary action for failures | Accounting Today
Danske's auditors have come under fire for failing to pick up signs of possible money laundering at Copenhagen-based Danske. Last year the Business Authority reported to police the local operations of Ernst & Young, which was the external auditor on Danske's 2014 financial report.
"We have always and continue to maintain that our audit was robust and undertaken in accordance with the relevant regulations and practices," Bender said. "We will vigorously defend any allegations made against EY Denmark at the Disciplinary Tribunal for Auditors."
TJS Deemer Dana acquires Vertisys | Accounting Today
TJS Deemer Dana, a Georgia-based accounting firm, is expanding into the technology industry by acquiring Vertisys, an IT services firm in the Atlanta suburb of Marietta.
The deal will enable TJSDD to help its clients with not only their accounting and financial needs, but also with technology, cybersecurity and productivity issues. Financial terms were not disclosed. Vertisys will continue to operate under its name as a subsidiary of the firm and will remain at its current offices in Marietta.
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