The incoming Bank of England (BoE) Governor Andrew Bailey said that small and medium-sized businesses (SMBs) might need loans from Threadneedle Street and the government to help with supply chain disruptions from the coronavirus outbreak, according to reports on Thursday (March 5). Bailey, who is...
The conversation surrounding late supplier payments is proliferating as new controversies emerge about the impact of reverse financing on supplier payment practices, and as some high-profile businesses face their own late payments criticisms. This week’s B2B Data Digest breaks down the biggest news stories on...
With mounting pressure from small and medium-sized businesses (SMBs) as well as the media and politicians, U.K.-headquartered mining firm Rio Tinto is ditching its reverse factoring initiative, according to reports on Wednesday (Jan. 29). “After review, Rio Tinto will no longer offer this accelerated payment...
Several high-profile corporate collapses and initiatives from corporate accounting standard-setters have raised questions about businesses’ use of supply chain finance and whether the trade finance tool prevents investors and auditors from gaining a transparent view into company finances. In Australia, a new debate has surfaced...
October 25, 2019
Top accountancy firms are asking the Financial Accounting Standards Board (FASB) to clarify how corporates should report on supplier finance programs that are in place, according to Compliance Week reports on Friday (Oct. 25). The Big Four accounting firms – Deloitte, PwC, KPMG and EY – submitted a joint letter earlier in the month to […]
