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Weekly Catch-Up 29th August

Thursday 29 August 2019

Insurance companies may be given more time on accounting overhaul

The Financial Accounting Standards Board has issued a proposal which offers insurers an extra year to comply with the new rules. The rules have been put in place to highlight the risks they take and the promises made to their customers. These new accounting rules would go live in 2022.

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UK: Accounting glitch at Eddie Stobart leads to frozen shares and resignation of CEO

An accounting error which emerged earlier this year is being investigated and as of yet it’s unsure how it will impact on Eddie Stobart’s half-year profits.

Their 2018 profits had been overstated by £2 million as a result of accounting errors.

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Talking about men and the work/life balance

Interesting article which covers the work/life balance that men are given in their places of work. The article covers some great suggestions for anyone in the workplace related to work and family. From suggesting that organisations should offer “caregiver leave” to men and women to encouraging leadership to set an example that home life is important.

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USA: Kraft Heinz brings back old CFO to deal with accounting irregularities

Earlier this year, Kraft Heinz announced it would be re-stating its financial results for 2016 and 2017 due to accounting irregularities, particularly in the procurement area. An internal probe found that some employees had engaged in misconduct linked to recognition of costs and rebates.

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