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In global news this week, regulators in EU worry about staffing, American Express expands B2B cross-border payments, ATMs in New Zealand get an upgrade, and more.

Chaitanya Ejner, senior associate – tax, KPMG LLP, has considerable experience in the R&D credit space across industries such as financial services and IT engineering working directly with client engineers to qualify and support R&D credit claims. He also works closely with a team of engineers and business experts in developing and automating credit claims processes.

Gregory A. Bocchino, partner – tax at KPMG LLP, is the national leader of KPMG's Accounting Methods and Credits practice and has more than 20 years of federal income tax accounting methods and credits experience.

Ajay Wanchoo, managing director – tax at KPMG LLP, leads transformation initiatives with a global team of specialist engineers and business experts and contractors, who provide deep technical analysis of client IT investments and develop client-facing solutions in the cloud leveraging artificial intelligence and other emerging technologies.

The payment company's strategy includes cost cutting, new products such as a Venmo account for teens, and welcoming input from Elliott Management, an activist investor that took a $2 billion stake in the firm.

The three-month London interbank offered rate for dollars climbed to a nearly 14-year high as traders brace for steady interest rate hikes from the Federal Reserve, backing away from speculation the central bank will ease up as the economy shows signs of cooling. 

The report from Senate Homeland Security Committee ranking member Rob Portman, R-Ohio, details China's campaign to infiltrate the Federal Reserve. But even amid rising tensions between the U.S. and China, response to the report has been muted.

The agency must take a principles-based approach rather than trying to cover every possible issue in detail.

Joshua Ronen is a professor of accounting at New York University Stern School of Business and co-editor of the "Journal of Law, Finance, and Accounting." Professor Ronen teaches courses in managerial accounting, financial accounting, advanced topics in financial accounting, and financial statements analysis. Ronen has been with NYU Stern for nearly 45 years. His primary research areas include capital markets, disclosure, earning management, economic impact of accounting rules and regulations, financial reporting, legal liability of firms, transfer pricing, agency theory, corporate governance, and fair valuation. Ronen has written numerous books including "Accounting and Financial Globalization," "Off-Balance Sheet Activities," "Entrepreneurship," "Smoothing Income Numbers: Objectives, Means and Implications," and "Earnings Management." He has been published in many academic journals including and publications including The New York Times, The Accounting Review, Journal of Accounting Research, Journal of Accounting, Auditing and Finance, Abacus, Management Science, Journal of Public Economics, Journal of Organizational Behavior and Human Performance, Stanford Journal of Law, Business, and Finance, and Journal of Financial Markets. In addition to his work at NYU Stern, Ronen has lectured at University of Canterbury, Tel-Aviv University, Federal University of Rio de Janeiro, National University of Mexico, University of Toronto, University of Chicago, Hebrew University, and London School of Economics among many others. He has also been a consultant for numerous organizations, including especially law firms as expert witness in the area of securities litigation. His suggestions for reform in the accounting profession have received critical acclaim by legislators and in the media. Ronen received his Bachelor of Arts in Economics and Accounting at Hebrew University in Israel, and his Doctor of Philosophy from Stanford University. Professor Ronen is also a licensed CPA in Israel.

David Silberman is senior advisor at the Financial Health Network and former associate director, research, markets and regulations at the Consumer Financial Protection Bureau.