| ICPAS announces 2020 outstanding leadership award winners; Abacus Worldwide and JHI merge; and more CPA news. | CFOs steering companies through coronavirus crisis, IMA finds → | | By Michael Cohn 5 min read | | Chief financial officers are playing a key role in helping their companies cope with the fallout from the coronavirus pandemic and the economic devastation it’s causing, according to officials from the Institute of Management Accountants. | |
| Tycoon behind Luckin loses $1B after accounting scandal → | | By Ying Tian, Pei Yi Mak and Venus Feng 3 min read | | The accounting scandal at Starbucks Corp.’s biggest competitor in China triggered a rout in shares linked to the company’s chairman, wiping out most of his wealth and knocking the tycoon out of the ranks of China’s billionaires. | |
| GASB releases guidance on LIBOR transition → | | By Michael Cohn 2 min read | | The Governmental Accounting Standards Board published guidance to help state and local governments transition move to newer reference rates that are less prone to market manipulation. | |
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