Financial Accounting News

Investor Convicted in Stock Scam Says Lottery.com Duped Fund

A Florida man convicted 20 years ago in connection with an organized-crime-related stock trading scheme claims his company is now a fraud victim, saying lottery-ticket platform Lottery.com violated terms of an investment agreement and pocketed the money to pay for its CEO’s $25,000-a-month rental mansion.

Circor, Portland Utility Dodge SEC Fines for Accounting Charges

Circor International Inc. won’t owe any financial penalties after settling SEC accounting charges, coming on the heels of a similar accounting enforcement deal with Portland General Electric Co. announced earlier this week.

Big Four Accounting Firm PwC UK Demands More Office Working

PricewaterhouseCoopers LLP, one of the Big Four accounting firms, is clamping down on remote working in the UK, bringing in tighter rules that require employees to spend more time in the office.

UK Insurers Stick to New Global Accounting Rules, Watchdog Finds

The UK’s accounting regulator said Thursday that insurance companies generally were following new global accounting rules properly, but called for improvements in areas including the use of estimates.

PwC Resigns as Country Garden’s Auditor Amid Regulatory Probes

PricewaterhouseCoopers LLP resigned as auditor for defaulted developer Country Garden Holdings Co., as both firms navigate challenges to keep operations afloat in China.

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IRS Seeks Comment on Treasury 401(k) Match Contributions

The Treasury Department and Internal Revenue Service requested comments on Saver’s Match, a SECURE 2.0-mandated program allowing 401(k) savers to receive an annual match contribution of up to $1,000 from the agency, slated to begin in 2027.

Investor Convicted in Stock Scam Says Lottery.com Duped Fund

A Florida man convicted 20 years ago in connection with an organized-crime-related stock trading scheme claims his company is now a fraud victim, saying lottery-ticket platform Lottery.com violated terms of an investment agreement and pocketed the money to pay for its CEO’s $25,000-a-month rental mansion.

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FDIC Eyeing Plan to Protect Customers From Fintech Failures (1)

Banks will have to closely monitor accounts maintained by third-party fintechs under a plan in the works from a key federal regulator intended to avoid a repeat of Synapse Financial Technologies Inc.’s collapse that saw millions of people lose access to their money.

ANALYSIS: Survey Finds Race Gap in Length of Lawyers’ First Jobs

Minority attorneys’ first legal work experience out of law-school lasts only about half as long as it does for their White peers, according to results from a recent Bloomberg Law survey. But a closer look at the survey data shows that a generational shift may be narrowing this gap.

Black Tax Pro Highlights Benefits of Small Business

SEC Top Accountant Talks Banking Crisis, Audit Worries

'Data Nerd’ Regulator Preps for Digital Auditing Future

How 40 Years of Tax Cuts Have Exacerbated Inequality

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