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Crypto.com sues SEC after receiving legal threat from US regulator
Crypto.com has filed a lawsuit against the SEC, accusing the agency of overreach in its efforts to regulate the cryptocurrency industry. The crypto trading platform said its move follows the receipt of a Wells notice – a formal declaration that an enforcement action is to be recommended – from the markets regulator on the grounds…
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BDO survey finds clients expect auditors to use AI
A new poll of 200 finance leaders at middle-market companies by BDO USA has found that clients increasingly expect their audit firms to leverage artificial intelligence (AI) to aid the audit process. Sixty-three percent of senior finance leaders say trust is somewhat or significantly enhanced for them and their key stakeholders when auditors use advanced…
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TIGTA says IRS is missing out on sports betting cash
The surge in sports betting has generated substantial revenue for gaming operators, yet the IRS is reportedly overlooking significant tax income, according to a recent TIGTA review. The analysis of approximately 43m tax forms from 2018 to 2020 revealed around 150,000 individuals who won over $15,000 failed to file tax returns on those earnings. The…
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Organizations urged to improve implementation of cyber resilience measures
A PwC poll of 4,042 business and technology executives from 77 countries has found that just 2% of organizations have fully implemented cyber resilience actions across all areas surveyed. The 2025 Global Digital Trust Insights survey found that critical areas lacking implementation include the establishment of a resilience team; the development of a cyber recovery…
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IRS mobilizes for disaster response
In response to Hurricane Helene, the IRS is deploying over 500 employees to assist the Federal Emergency Management Agency (FEMA) with disaster relief efforts. These employees will help manage FEMA’s call lines, providing crucial support to victims seeking federal assistance. The IRS has a long history of aiding FEMA during emergencies, having answered over 1.6m…
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Chinese tell PwC’s global chair to change corporate culture
China’s vice-finance minister, Guo Tingting, has met with PwC’s global chair, Mohamed Kande, following a significant fine imposed on PwC Zhong Tian, the firm’s mainland unit. The unit was fined 441m yuan (US$62.2m) for its auditing failures related to the bankrupt China Evergrande Group. Guo expressed hopes that PwC would adhere to Chinese laws and…
