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Microsoft-backed startup Builder.ai hires auditors to investigate inflated sales | Accounting Today
Builder.ai lowered the sales figures it provided to investors and hired auditors to examine its last two years of accounts, a major setback for the artificial intelligence startup backed by Microsoft Corp. and the Qatar Investment Authority.
Fashion-tech startup teeters as CEO resigns over fraud claim | Accounting Today
Retail entrepreneur Christine Hunsicker has resigned from her position as chief executive officer of CaaStle after the fashion-technology startup's board of directors alleged she misrepresented the company's performance to investors.
Slow US tax collections spark angst about debt ceiling X-date | Accounting Today
Tax collection projections are down. Refunds are up. That's a formula that could dampen U.S. government revenue and, if it persists, portend an earlier deadline for Congress to raise the debt ceiling — or risk a federal payments default.
GASB mulls accounting for severe financial stress and probable dissolution | Accounting Today
The Governmental Accounting Standards Board is looking for feedback on its preliminary proposals associated with accounting and financial reporting for severe financial stress and probable dissolution disclosures by state and local governments.
IAASB, ISSB offer guides for implementing standards | Accounting Today
The International Auditing and Assurance Standards Board released a first-time implementation guide for the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities, while a different global standard-setter introduced an online tool for adopting sustainability standards.