Wednesday, May 2, 2018

Can Feds Get Their Heads Around Blockchain?

That's according to the most recent Government Accountability Office's 5-year strategic plan for 2018-2023. But it's taking a while for people in government to “get their heads around” how it can really be leveraged, Asif Khan, GAO's director of financial management and assurance, said at KPMG's "Future ...
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Serious risk after CBA huge data loss

One theory suggested by a forensic team from accounting firm KPMG was that the tapes might have fallen off the back of a truck taking the data to be destroyed. But the data was never located - either on the road or on the dark web - and it was decided that had most probably been disposed of as ...
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Listed banking assets grow over 8% in Qatar to $389.4bn in 2017: KPMG

On the report, Omar Mahmood, head (Financial Services) for KPMG in the Middle East & South Asia, and partner at KPMG in Qatar, said, “Overall it has been a strong year for listed banks in Qatar. While profitability, assets and capital have all increased from the comparative year, banks in Qatar have ...
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KPMG Faces Heat Over Role In Wells Fargo And General Electric

Earlier in the week KPMG was able to avoid a rebellion from shareholders of Wells Fargo over the role it played as the lender's auditor. However the auditing firm will also have to face another vote later in the week from one of its oldest clients in the United States, General Electric. During the annual ...
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Dallas Morning News parent reports $4 million quarterly loss, a decline from a year ago

A.H. Belo's previous accountant, KPMG, noted in a report that it saw as “material weakness” in financial reporting related to single-copy sales returns and raised issues about the “completeness, existence and accuracy” of revenue from Speakeasy, part of the company's marketing services operation.
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Commonwealth Bank Of Australia Admits 2016 Customer Data Loss

Sullivan said Commonwealth contacted its regulators. The investigation revealed that the tapes held no data that could enable account fraud, only information such as customer names, addresses, account numbers and transaction details. The investigation, for which the bank hired KPMG, also found no ...
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Online food delivery segment hungry for growth

Gyssels was speaking at the company's 'Open Day', which discussed and debated issues related to the industry in the Middle East. The online food delivery industry is gaining traction. Analysts from professional services firm KPMG, who were also present at the event, says that in their recent study in the ...
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Australia's Commonwealth Bank lost the banking records of 12 million customers

Commonwealth Bank even hired a forensic team from accounting firm KPMG to help conduct a search but the missing tapes were never found. One possible theory floated by KPMG is that the driver who transported the tapes to be destroyed didn't properly secure them on the truck and during transit, ...
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Accounting and technology: Brace for impact

“Profound” was, literally, the most common word that firm leaders used to characterize the likely effect: KPMG chairman and CEO Lynne Doughtie, for instance, used it to describe how deeply accounting firms, their clients, their services and more will be changed over the next half-decade, and then ...
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Does Commonwealth Bank's massive data loss put you at risk?

One theory suggested by a forensic team from accounting firm KPMG was that the tapes might have fallen off the back of a truck taking the data to be destroyed. But the data was never located, either on the road or on the dark web, and it was decided that had most probably been destroyed. However ...
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Clessidra to acquire Scrigno

Italian private equity firm Clessidra SGR has agreed to acquire Scrigno Group. No financial terms were disclosed. Linklaters was legal adviser to Clessidra on the deal with Roland Berger, KPMG and Studio Alonzo Committeri advising on the due diligence and BNP Paribas on the financial aspects. And ...
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Nobody Dismissed At Unibank - KPMG

Managers of Unibank, KPMG, have dismissed media reports that they have terminated the appointment of some contract workers of the bank following an assessment of the bank's operations. About five hundred workers of the bank are reported to have their employment contracts terminated as their ...
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House of Fraser owner brings in new majority shareholder

The company attempted to negotiate rent reductions with some landlords earlier this year, and last month retained KPMG to advise on options for its store space. Frank Slevin, chairman of House of Fraser, acknowledged that “we need to make difficult decisions about our underperforming legacy stores”.
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KPMG relocates its Kota Kinabalu office in anticipation of future growth

KOTA KINABALU: KPMG has relocated its Kota Kinabalu office to a new and expanded premise at 3A, Plaza Shell on Jalan Tunku Abdul Rahman, which the global professional services firm will be operating out of effective yesterday. In line with the firm's plan to incorporate a workplace of the future ...
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Major Bank Loses 12 Million Customers' Data in the Most Embarrassing Way Possible

In response, the Commonwealth Bank formed a task force (codename “Project Chesapeake”) and hired accounting firm KPMG, which was also unable to locate the missing tapes. According to BuzzFeed, KPMG even explored the possibility that “the drives weren't secured properly and fell from a truck in ...
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House of Fraser to close stores after takeover by Chinese firm

House of Fraser's troubles came to the fore in January after it suffered a drop in sales over Christmas and started talking to landlords about reducing the size of its property portfolio. KPMG has been drafted it to advise House of Fraser on its restructuring proposal, with the terms of the plan likely to be ...
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KPMG Report Shows Bahrain's Banking Sector Maintain Year-On-Year Growth

KPMG's recently released version of the 'GCC listed banks results' report has shown that the banking sector in Bahrain maintained a year-on-year growth in 2017 with 6.4 percent growth in net profit and 5.6 percent growth in total assets.
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HR Asia Announces Hong Kong's Best Companies to Work for in Asia

Award winners include Arrow Asia Pac Ltd, Avery Dennison, Baxter Healthcare Ltd, Colliers International (Hong Kong) Limited, Equinix, Hang Lung Properties Limited, Haitong International Securities Group, Jones Lang LaSalle Limited, KPMG China, Lee Kum Kee Company Ltd, Mundipharma (Hong ...
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KPMG's Trevor Hart: Mining sector in for 'good growth year'

Trevor Hart, who was promoted to KPMG's global mining head in March, told The Australian that the macroeconomic outlook would help support the mining sector in the year ahead. “A lot of the conversations are about China, as they should be, but China is still really strong and there is a good-quality ...
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Commonwealth Bank confirms loss of almost 20 million customers' financial statements

When the bank became aware of the incident, it said, it ordered an independent "forensic" investigation to figure out what had happened and informed the Office of the Australian Information Commissioner (OAIC). The inquiry, conducted by KPMG, determined the tapes had most likely been disposed of.
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