Wirecard AG chairman Wulf Matthias resigned after months of controversy over the German digital payments company's accounting practices.
Matthias stepped down as chairman of the supervisory board for personal reasons, and will be replaced by Thomas Eichelmann, the Aschheim, Germany-based company said Friday in a statement. Matthias will remain a member of the board.
The payment processor's shares have whipsawed for more than a year after several media reports raised questions about accounting methods, all of which the company has rejected. The concerns relate to Wirecard's Singapore operations. Wirecard has said its reporting obligations were "followed properly." Shares are down more than 40 percent from their peak in March 2018.
Eichelmann was a member of Wirecard's supervisory board and head of the body's audit committee.
Not to change the topic here:
Long Island City CPA John Savignano brings 'human element' to the accounting business -
When clients walk into the door of one of John Savignano’s Long Island City offices, they’re greeted by the receptionist and a cup of espresso.
“In today’s world with all the technology and all the distractions, nobody talks to each other. But we try to keep the human element part of the process, in that we’re sort of old-fashioned and we care. We’re all humans,” said Savignano.
According to Savignano, maintaining the “human element” in the accounting world — as well as maintaining client relationships — is how his eponymous business thrives. Savignano Accountants and Advisors was born in Westchester County as a full-service CPA firm providing accounting, bookkeeping, tax and advisory services for individuals and businesses. But soon after, a client project led the firm to Astoria.
Arizona's State Pension Contends With 'Very Troubling' Accounting Errors | Chief
A lack of internal controls on Arizona's Public Safety Personnel Retirement System was publicized during a recent revelation brought to the attention of the pension's board on January 8.
"It appears that some of the previous staff may have failed to adequately communicate information to the Board as it related to the financial books and records of the System as well as the systems to manage and maintain those records," said the report, authored by the pension's board.
Over $3 million in negative city balances cause accounting scrutiny
EDITORS NOTE: This article is the first in a series of five stories this week on Muncie city finances and accounting practices. After exploring the topic with city administration, The Star Press is breaking its stories down in an easier-to-understand way with multiple articles this week.
This story has been updated with more recent figures from Ridenour's administration. Economic Development had additional payments made after Ridenour released the financial numbers the The Star Press that lowered the amount that those specific funds were in the negative.
Were you following this:
Inside the UK's effort to revamp its accounting industry — Quartz
It's not every day that accounting firms are called on the carpet by national lawmakers or that the auditing industry becomes national news. It's happening in the UK.
"I wonder? How many more company failures and how many egregious cases of accounting do we need?" said Rachel Reeves, a committee chair in the UK's House of Commons. She was blasting representatives of PricewaterhouseCoopers and Ernst & Young, at an October hearing investigating the sudden collapse of travel company Thomas Cook, which both firms had audited.
A toolkit for following the accounting industry — Quartz
Francine McKenna , a former reporter for MarketWatch who also has 20-plus years of experience at Big Four accounting firms, is one of the best and most widely followed writers and commentators about accounting and auditing. She just started a new online newsletter featuring her work, The Dig .
KMS Tax & Accounting Solutions serves clients at new location in Madison Township | News |
Accounting faculty member attends conference in Naples
University of North Georgia (UNG) faculty member Dr. Bill Black attended the sixth annual International Conference on Luca Pacioli in Accounting in Naples, Italy.
More than 100 accountants, economists and historians discussed accounting and economic history from the Middle Ages to today, with sessions in Italian, English and Spanish.
Happening on Twitter
German fintech Wirecard said its chairman, Wulf Matthias, resigned suddenly after more than a decade in the role, d… https://t.co/5HDhbCSVVG WSJ (from New York, NY) Sat Jan 11 19:15:08 +0000 2020
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