Technology

Insight / 92% of European businesses not ready for GDPR

With just over six months to go until the EU’s general data protection regulation (GDPR) becomes law, just 8% of businesses across Europe report they are prepared for the new measures, which include provision for fines of face fines of up to €20m for failure to comply, according to research from RSM

Insight / 56% of CFOs struggling with data security

Over half of global CFOs admit that managing data security and privacy is the biggest challenge in corporate reporting and believe that lack of clarity over data ownership and governance is having an impact on reporting effectiveness

Insight / PwC set to acquire customer relations specialist business CDecisions

PwC has conditionally agreed to acquire UK-based Salesforce consultancy, CDecisions, which specialises in customer relations for financial services firms

Insight / Top tips: how to make your accountancy website perform better

Tim Butler, founder of Innovation Visual, a digital marketing consultancy, provides ten tips on how accountancy firms can improve the performance of their website and generate more leads by including current content, ensuring it is mobile friendly and keeping on top of traffic, among other things

Insight / AICPA to collaborate with blockchain association

The American Institute of Certified Professional Accountants (AICPA) and blockchain trade association Wall Street Blockchain Alliance (WSBA) have confirmed plans to work together to define the impact of blockchain technology for the accounting profession

Insight / DWP takes over pension dashboard project from Treasury

Development on the pension dashboard will continue with the Department for Work and Pensions (DWP) announcing that it has taken over the responsibility from the Treasury after economic secretary Simon Kirby, who was involved in the project, lost his seat in the June election

Insight / UK organisations lagging on cyber security preparations

Despite some well publicised and damaging cyber security incidents recently, nearly one in five UK organisations do not prepare for cyber attacks and only half conduct penetration tests to examine their defences, according to research by PwC

Tax / One in five accountants still using paper ledgers

Nearly 80% of accountants still rely on spreadsheets and one in five (18%) still use paper ledgers despite 60% saying that the finance and accounting profession is at a technological tipping point, according to research from software provider Xero

Insight / Bitcoin platform launch opens up cryptocurrency options

A platform launched in London this week is to allow companies to conduct business in Bitcoin and other cryptocurrencies, cutting out traditional banks just days after JP Morgan Chase CEO Jamie Dimon described Bitcoin as a ‘fraud’

Insight / Fundraising regulator to tighten up data protection rules

The Fundraising Regulator is to consult on strengthening the sections on data protection with its code of fundraising practice, in light of the upcoming General Data Protection Regulation (GDPR) legislation, which comes into effect next year, and recent concerns about how charities use data on donors

Insight / KPMG and Exiger sign partnership to use AI-based technology to manage risk

Global regulatory and financial risk specialist Exiger has announced a partnership with KPMG to integrate its artificial intelligence platform DDIQ into the Big Four firm’s compliance solutions for its global corporate and financial institution clients

Insight / SEC charges businessman and two companies over fraudulent ICOs

Businessman Maksim Zavslavskiy and two companies he founded have been charged by the US Securities and Exchange Commission (SEC) over allegedly defrauding investors in a pair of so-called initial coin offerings (ICOs) purportedly backed by investments in real estate and diamonds

Insight / KPMG advises in launch of blockchain payroll company

KPMG is advising a blockchain-based payroll provider as it gears up for an initial coin offering (ICO) on 18 October 2017

Insight / Deloitte hit by cyber security incident

Deloitte has confirmed it was the victim of a cyber attack which saw hackers gain access to the Big Four firm’s email system over a lengthy period of time, with the ability to view sensitive client data

Audit / NAO publishes cyber security risk guidance for audit committees

The National Audit Office (NAO) has published cyber security and information risk guidance for audit committees, after identifying a high incidence of access-control weaknesses and other issues in the course of preparing its reports
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