Accounting

A report from Democratic staff on the Senate Permanent Subcommittee on Investigations said accounting firm KPMG gave Silicon Valley Bank, Signature Bank and First Republic clean audits despite internal warnings, fraud allegations and apparent risks of failure.

The interim final rule removes the requirement under the Corporate Transparency Act for U.S. companies and people to report beneficial ownership information.

The Department of Government Efficiency says it has saved $55 billion in federal spending so far, but its website only accounts for $16.6 billion of that.

A federal district court in Texas has stayed an injunction that had prevented enforcement of the Corporate Transparency Act and its reporting requirement.

Elon Musk will dispatch a team to gain read-only access to the government's central accounting system.

Primis Financial had to delay several reports to the SEC due to an accounting misclassification error, which raised the possibility that the bank's stock would no longer trade on Nasdaq. Executives say they're "optimistic about putting this behind us."

The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry.

Due to retirement, burnout, heightened regulatory standards and profitability challenges, lots of lenders are looking for new chief financial officers. The wave of departures is giving banks a chance to bring in more highly skilled finance chiefs.

Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.

Centerbridge Partners and Warburg Pincus said they would invest $400 million in Banc of California in conjunction with its purchase of PacWest. The private equity injection was made possible through reverse accounting, which used Banc of California's balance sheet to value the transaction.