The discovery of an alleged international ring of fraudsters started with a one-line email. In April 2019, a company accountant received an email that appeared to be from the chief executive officer. “Joanna, Can you mail out a cheque to a vendor today? Barbara,” the email said. The email had some hallmarks of a scam. […]
Archives for 2020
India Fintech Festival in Mumbai put off due to coronavirus fears
The government-led mega event, India Fintech Festival, which was scheduled to take place on March 4 and 5 in Mumbai, has been postponed following travel advisories over Covid-19 (coronavirus). Organisers have said that the new dates will be announced soon. The festival was planned by Mumbai Fintech Hub, Maharashtra government, ministry of electronics and information […]
As China fights the coronavirus, some say it has gone too far
By Keith Bradsher China’s business leaders know better than to argue with Beijing. Leave the politics to the Communist Party, they long ago concluded, and the government will let them make money in peace. A vicious viral outbreak has upended that formula. China’s typically supercharged economy has ground to a near standstill as the authorities […]
Bezos hack casts light on stock that’s up 191% in two years
If FTI Consulting suffers from a lack of name recognition, its clients don’t. The firm, staffed with former FBI, MI-6 and Mossad agents, has advised everyone from Jeff Bezos in the alleged Saudi phone hack case that United Nations experts got involved with last month, to George W Bush and OJ Simpson’s defense team — […]
5 best practices for IIoT project success
Based on years of pilot projects and proofs-of-concept, the Industrial Internet Consortium has detailed the best-practices organizations can use to ensure successful deployments. While most consumers may find Internet of Things (IoT) devices like Google’s Nest or Ring’s doorbells new and exciting technology, the manufacturing world has embraced the IoT to optimize discrete and process […]
GASB proposes criteria for financial statement disclosures
A proposed concepts statement issued Friday by GASB would establish new criteria for state and local governments to follow in developing their disclosures for notes to financial statements. The exposure draft, Communication Methods in General Purpose External Financial Reports That Contain Basic Financial Statements: Notes to Financial Statements, describes the types of information that should […]
How 5G will affect jobs in 2020 and beyond
There’s no doubt that the disruptive nature of 5G will change how we work—but what will change, and should tech professionals be worried? 5G is here, and as we enter a new decade it is poised to be one of the most life-changing technologies to come around in decades. The technology is even growing faster […]
Facebook’s Libra Association adds Shopify as a member after a slew of defections
A “Zuck Buck” is displayed on a monitor as David Marcus, the executive leading Facebook’s blockchain initiative, is questioned by U.S. lawmakers in Washington, D.C., on July 17, 2019. Andrew Harrer | Bloomberg | Getty Images Facebook’s Libra Association added a new member after shedding several partners in its ambition to create a new cryptocurrency. […]
U.S. blacklisted Casimiro resigns from board of refiner Nayara Energy
NEW DELHI (Reuters) – Didier Casimiro, placed on a sanctions list by the United States earlier this week, on Friday resigned from the board of Indian refiner Nayara Energy, part-owned by Russian oil major Rosneft, company filings with the Indian government show. The United States on Tuesday blacklisted Rosneft Trading S.A. (RTSA) and its president […]
FASAB clarifies loss allowance for intragovernmental receivables
Accounting guidance for federal government entities on the loss allowance for intragovernmental receivables was clarified in a technical bulletin issued Thursday by the Federal Accounting Standards Advisory Board. Technical Bulletin 2020-1, Loss Allowance for Intragovernmental Receivables, explains that the recognition of losses, provided in Paragraphs 40–52 in Statement of Federal Financial Accounting Standards 1, Accounting […]