Accounting

I thought it would be fun. That’s what I told my friend Mack when I asked her to drive with me from New Orleans to Chicago and back in an electric car.I’d made long road trips before, surviving popped tires, blown headlights and shredded wheel-well liners in my 2008 Volkswagen Jetta. I figured driving the brand-new Kia EV6 I’d rented would be a piece of cake. If, that is, the public-charging infrastructure cooperated. We wouldn’t be the first to test it. Sales…

Big Four accounting firm Ernst & Young is considering a world-wide split of its audit and advisory businesses amid regulatory scrutiny of potential conflicts of interest in the profession, according to people familiar with the matter.A split would be the biggest structural change at a Big Four firm since Arthur Andersen fell apart some 20 years ago. The potential move would create two giant professional firms. EY last year had global revenue of $40 billion, of which $13.6 billion came from audit work. How…

KPMG LLP agreed to pay a fine after the Financial Reporting Council found shortfalls in its audit of Rolls-Royce Holdings PLC, the British jet engine manufacturer that settled bribery allegations in 2017. The U.K. audit regulator on Tuesday said it imposed sanctions of £3.4 million—equivalent to $4.2 million—against the professional-services firm and £112,500 against audit partner Anthony Sykes. The investigation, which the FRC announced in 2017, focused on…

MicroStrategy Inc.’s new chief financial officer on Wednesday said its strategy to buy and hold bitcoin long term won’t change despite the recent selloff in the digital asset, which has dented the value of the analytics-software company’s holdings.Bitcoin and other cryptocurrencies have plummeted this month, in part due to investor concerns over persistent high inflation and the collapse of the TerraUSD stablecoin. Bitcoin’s price has slumped by 32% over the past year to $29,128.50 through…

Diesel costs are reaching new highs across the U.S., straining the operations of trucking companies and wrecking the transportation budgets of businesses that need to ship goods.The price of the fuel that powers heavy-duty trucks has increased by more than $1.50 a gallon in roughly two months, according to the U.S. Energy Information Administration. The national average price has climbed to $5.62 a gallon, setting a record for the second week in a row, as prices at the pump surpassed $6 in some markets. “These fuel costs…

Companies including Chevron Corp. , Quest Diagnostics Inc. and Ernst & Young LLP are pushing to narrow proposed cybersecurity rules from the Securities and Exchange Commission in the private sector’s latest attempt to shape a growing array of regulations by Washington. In comments on rules proposed by the SEC, businesses in recent days have urged the agency to harmonize its deadline of four business days to disclose security incidents with similar rules from…