Going Concern

APRIL 1, 2022

Overall employment in professional and business services was 723,000 higher than in February 2020. Plug Power’s audit committee, a sub-group of its board of directors, voted to dismiss KPMG on March 16 in light of the accounting issues, which at the time they were announced caused Plug Power’s stock to tumble.

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CPA Practice

SEPTEMBER 5, 2023

In first-ever sanctions levied against an audit firm related to its membership in an accounting alliance, the Public Company Accounting Oversight Board (PCAOB) on Aug. 29 fined top 50 firm Warren Averett $200,000 for auditor independence violations during the 2019 and 2020 audits of an issuer.

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Going Concern

MAY 5, 2022

Alternate title: If You Are an Accounting Student, Expect to End Up In Audit When You Graduate. Ever since early 2020 we have been forced to learn how to go without, not always an easy task in our always-connected, on-demand, two-day-delivery world. New accounting graduate hires are increasingly being assigned to audit — a shift of 11.5

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Going Concern

MARCH 30, 2022

The latest audit inspection results for Crowe show the 11th-ranked public accounting firm by revenue bombed 27% of the audits reviewed in the most recent PCAOB inspection cycle, but the firm was less bad in its 2020 report card than it was in 2019’s. Marcum auditors didn’t do too badly on audits of ICFR.

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Going Concern

SEPTEMBER 1, 2023

First things first: The PCAOB found that Warren Averett violated independence requirements during its 2019 and 2020 audits of an issuer, because the firm audited valuations performed for the issuer by another accounting firm that sponsored an alliance of which Warren Averett was a member. Nice to see.

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Going Concern

FEBRUARY 3, 2023

We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. From the report: The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. All our auditors have been appointed in compliance with applicable laws.” “The

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CPA Practice

APRIL 12, 2023

A talent shortage is affecting accounting firms across the demographic spectrum. Each year fewer accountants enter the profession while more CPAs near retirement. According to the Association of International Certified Professional Accountants, the number of U.S.

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Going Concern

SEPTEMBER 29, 2023

From the SEC : The Securities and Exchange Commission today announced charges against accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs LLP, (together, Prager) for violating auditor independence rules and for aiding and abetting their clients’ violations of federal securities laws.

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CPA Practice

DECEMBER 1, 2023

The Public Company Accounting Oversight Board (PCAOB) has doled out a record $20 million in total fines to audit firms and individual auditors so far in 2023, almost doubling the previous high mark of $11 million set last year. In early 2019, the firm violated the anti-fraud provisions of U.S. To protect investors on U.S.

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Going Concern

DECEMBER 22, 2023

Barring any huge incident like an accounting firm getting raided by the FBI on Christmas Day, there will not be any breaking news. million) in damages from accounting firm EY for its role in auditing the books of Wirecard before its collapse in 2020, a shareholder group said. Don’t hesitate to reach out.

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CPA Practice

APRIL 15, 2023

One of the Big Four accounting giants in the U.S., Following a split, EY would have been able to advise companies for which it also acted as auditor. It drew ire from US executives—including senior executives like John King and Frank Mahoney—as they wanted auditors to get a bigger bite of the lucrative tax practice pie.

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Going Concern

OCTOBER 20, 2023

TowerBrook and Eisner plan to continue acquiring regional accounting firms or partnerships. Brentwood-based LBMC, a business consulting and financial services firm, will welcome Louisville-based accounting firm Strothman & Co under its family of companies. This move, effective Nov.

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Going Concern

NOVEMBER 11, 2022

‘There’s definitely an accountant shortage out there’: MBAs have become the go-to degree and companies are struggling to hire enough CPAs [ Fortune ]. The Big Four accounting firms are even reaching out to high school students to share that message and creating more flexible work environments, Lansford says. billion euros ($1.9

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CPA Practice

MAY 2, 2023

By Paula Laurenti, Key Accounts Manager at SAPRO. accounting profession is facing a severe shortage of certified accountants. Projections indicate that demand for accountants and auditors will increase by 13% between 2021 and 2031, with an estimated 136,400 job openings between 2021 and 2023.

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CPA Practice

FEBRUARY 23, 2024

Grant Thornton’s India arm and an Australian audit firm also received penalties from the PCAOB. The biggest fine was given to top 25 accounting firm Withum, which was docked $2 million on Feb. 21 for “pervasive” quality control violations found in its audits of special-purpose acquisition companies (SPACs) in 2020 and 2021.

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CPA Practice

MAY 15, 2023

Compared to Q1 2022 , total proceeds dropped 72%, continuing the IPO malaise that has occurred since the surge of companies that went public in 2020 and 2021. In addition, Q1 2023 saw a substantial decrease in the total amount raised compared to offerings completed in the first quarter in each of the last five years.

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Going Concern

SEPTEMBER 19, 2023

Inc UHY LLP Warren Averett, LLC Zwick CPA, PLLC Expanded reports Baker Tilly US, LLP (12/21/2020 Report) Ernst & Young, S.L. Spain) (9/9/2021 Report) MaloneBailey, LLP (12/17/2020 Report) Today we’re going to talk about PwC Canada, if you want to check out the others head over to the PCAOB’s inspection report lookup.

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Going Concern

DECEMBER 5, 2022

In an article for CoinDesk , Francine McKenna took a crack at why the FTX debacle happened, and like she always does when there ’s really bad accounting at a company going through a financial crisis, who are/were the auditors: It’s not clear why FTX commissioned two different audit firms to audit its 2020 and 2021 financial statements.

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Going Concern

FEBRUARY 5, 2024

Financial Advisor says many accounting firms want to get on the wealth management bandwagon “to serve clients better” but of course really “ wealth management practices can be quite profitable when done well. These senior partners are responsible for their firm’s wealth management efforts. ” Guess what?

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CPA Practice

SEPTEMBER 14, 2023

Of the more than 860 SPACs that completed initial public offerings in 2020 and 2021, Marcum audited more than 400 of these transactions. The SEC also noted that in 2019, Marcum was the auditor for only 185 public companies, but by 2022, that number jumped to 575—the majority of them being SPACs.

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Going Concern

DECEMBER 27, 2022

The PCAOB added six audit firms —three international, including a KPMG affiliate, and three in the U.S., These six firms must have forgotten to do that or something and, as a result, were fined and censured by the PCAOB: KPMG Samjong Accounting Corp. – $30,000 civil money penalty and censure.

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Going Concern

NOVEMBER 30, 2023

Haoxin”), a mainland China-based registered public accounting firm, and four of its associated persons for violations that include issuing a false audit report, failing to maintain independence from their issuer client, and improperly adopting the work of another accounting firm as their own. auditing curriculum.

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Going Concern

MAY 26, 2023

Long Read How a Pandemic-Era Program Became a Magnet for Fraud [ New York Times ] Amid the onset of the pandemic in 2020, as large swaths of the economy went into lockdown, Washington set up various programs to help keep businesses and their workers afloat. Have a safe Memorial Day. million over a decade.

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Going Concern

FEBRUARY 19, 2024

Underemployed staff at the Big Four auditors risk losing their jobs as firms step up their scrutiny of employee workloads in a downturn. EY and Deloitte are among firms that are letting inactive employees go at performance reviews outside of already announced job cuts, according to sources.

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Going Concern

FEBRUARY 24, 2023

This event did not come about because China suddenly warmed to the PCAOB, rather Congress urged their cooperation along with the Holding Foreign Companies Accountable Act of 2020, threatening delisting from American exchanges if they did not comply.

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Going Concern

SEPTEMBER 1, 2022

The numbers don’t lie: of 658,267 actively licensed CPAs in 53 of the 55 licensing jurisdictions, less than 1% are Black (2020 data), a number that has remained largely unchanged in 40 years. It wasn’t until 2015 that a woman became CEO of a Big 4 accounting firm for the first time. CPA firms are white.

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AdviceForTaxpreparers

SEPTEMBER 8, 2020

My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department. Issue 3: I am an accounting major, auditor, or I don’t have enough experience in tax to promote the book. Earn $20 per Book Promoting My Tax Preparer Book from Home in Your Spare Time - September 9, 2020.

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Going Concern

JULY 26, 2022

In fact, the 46 IPOs in Q2 was the fewest since the first quarter of 2020 (38), and the $5.3 Even though SPACs are going through a rough patch, public accounting firms that are SPAC auditing machines were kept the busiest in Q2. billion), according to a new analysis from Audit Analytics.

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CPA Practice

APRIL 26, 2023

From 2020 to 2021, U.S. Based on these inspections, the report presents several key takeaways for auditors. The number of SPAC IPOs increased from 59 in 2019 to 248 in 2020, then spiked significantly to 613 in 2021. markets experienced an unprecedented surge in the number of initial public offerings (IPOs) by SPACs.

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Going Concern

JANUARY 2, 2024

However, accountants all too often seem to get the numbers wrong when it comes to calculating their worth and charging their clients according to the value they provide. EY got a lawsuit for Christmas : Accountancy firm EY is facing a new lawsuit claiming 1.5 Especially not in January and February.” billion euros ($1.66

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Going Concern

JANUARY 29, 2024

But clients seek delivery of specialized services from the CPA firms knowing that they will be provided within an existing framework of quality, professionalism, discipline, and control. Tupperware hired the Big Four auditor on Jan. 5 letter from district administrator Joe Phillips to Chief Auditor Joris Jabouin.

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Going Concern

SEPTEMBER 25, 2023

He also failed to pay over $1 million in outstanding tax debts he and his accounting firm, Carter’s Tax Advisory, owed. Specifically, Fulton continued to transfer money between accounts, issue checks and wires to Nix’s gambling clients who won large bets, and helped Nix obtain bank loans to facilitate the gambling business.

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CPA Practice

AUGUST 17, 2023

In response to abuses that came to light during the 2008-09 financial crisis, the PCAOB was authorized by the Dodd-Frank Act of 2010 to establish an inspection program for auditors of brokers and dealers registered with the Securities and Exchange Commission.

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Going Concern

MARCH 1, 2023

Members of the accounting firm Armanino’s digital-asset practice have departed and formed a new startup – The Network Firm – to carry on the business of providing audits, attestations and related work for crypto clients. Armanino has said it stands by its 2020 and 2021 audits of FTX US.

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Going Concern

SEPTEMBER 22, 2023

Miller was appointed vice president for finance in April 2020 and also serves as the university treasurer. Former employee of Chattanooga accounting firm speaks out [ Local 3 ] A former employee of Croft and Frost is speaking out following the accounting firm’s shutdown that cost him and his coworkers their jobs.

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Going Concern

JUNE 9, 2023

PwC’s tax scandal victims pile up [ Australian Financial Review ] It was Wednesday evening when the full cost of PwC Australia’s position began to dawn on the firm’s senior employees – the kernel of true believers on the brink of realising their life ambition to become partners at Australia’s biggest accounting firm.

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Going Concern

FEBRUARY 9, 2024

Three of the firms also joined industry efforts to designate accounting as a science, technology, engineering, and math—or STEM—field, according to federal lobbying disclosures. My buddy from undergrad works office security at one of the Big 4 accounting firms in Midtown.

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