Going Concern

JANUARY 20, 2023

Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves.

auditor 93

auditor Technology audit financial statements 93

CPA Practice

AUGUST 15, 2023

Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. Here is a recap of the PCAOB’s busy last two weeks of enforcement and the firms that got busted.

audit 98

audit auditor accounting firms cpas 98

Going Concern

MARCH 15, 2024

EY’s new boss shuffles leadership roles and plans cost cuts [ Financial Times ] EY’s new boss Janet Truncale has set out her leadership team for the Big Four accounting firm, moving an architect of its failed split from his executive role and signalling plans to cut costs across the global firm.

auditor 107

auditor audit cpas Iowa 107

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. Has the CPA license entered a death spiral?

Account 136

Account accountant accounted Education 136

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.

financial statements 52

financial statements audit auditor public accounting 52

Going Concern

FEBRUARY 16, 2024

The Conflict Surrounding Work-Life Balance in Public Accounting Firms [ CPA Journal ] For years, the public accounting sector has been characterized by high employee turnover. public accounting firms, however, turnover has continued to increase.

Real Estate 102

Real Estate Iowa audit CPA 102

Going Concern

JANUARY 12, 2024

Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Long Reads How Auditor Deloitte Missed A Nigerian Company’s Massive Fraud [ Forbes ] Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group.

audit 95

audit auditor Illinois CPA 95

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

auditor 52

auditor audit cpas CPA 52

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.

audit 62

audit auditor public accounting financial statements 62

Going Concern

MARCH 1, 2024

Meanwhile, the audit side is under increased regulatory pressure because of perceived lapses in audit quality at accounting firms of all sizes. Last year, the median salary for full-time entry-level accounting jobs was roughly $62,500, up from about $50,000 in 2020, according to Handshake data.

audit 103

audit Nebraska auditor chartered accountant 103

Going Concern

OCTOBER 20, 2023

TowerBrook and Eisner plan to continue acquiring regional accounting firms or partnerships. The strategic acquisition also encompasses Mueller dotKonnect, a business process outsourcing firm specializing in finance, accounting, tax and payroll functions. It also marks the firm’s fifth office location in the South.

CPA 100

CPA quickbooks Real Estate auditor 100

Going Concern

SEPTEMBER 12, 2023

.” From today’s news release : The Securities and Exchange Commission today charged Alfonse Gregory Giugliano, CPA, the former National Assurance Services Leader at Marcum LLP, a public accounting firm, with failing to sufficiently address and remediate numerous deficiencies in Marcum’s quality control system.

audit 111

audit public accounting auditor Management Consulting 111

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. Since I do not plan to sell this book through a publishing company, I need another way to market the book to the public. Accounting Jokes, Videos, Puns and Humor - July 29, 2019. Accounting LIONs.

tax preparation 246

tax preparation Tax cpa firm CPA 246

Going Concern

JUNE 23, 2023

Office Hours: CPA Firms Shift Toward More In-Person Collaboration and More Square Footage [ INSIDE Public Accounting ] Three years after accounting professionals were forced home by COVID and then back to the office, at least part of the time, firms are beginning to settle into a new normal.

cpa firm 99

cpa firm CPA auditor North Carolina 99

Going Concern

MAY 28, 2024

The local news in Cincinnati covered this strategic move : One of Greater Cincinnati’s largest accounting firms is being acquired by an Indianapolis company. Blue Ash-based tax, advisory and audit firm Cassady Schiller CPAs & Advisors will become part of Katz, Sapper & Miller in a transaction that will be completed May 31.

audit 67

audit Hospitality Account accountant 67

AdviceForTaxpreparers

JULY 29, 2019

Why was Janet Jackson’s accountant so upset when she had a wardrobe malfunction? Why did the accountant divorce the banker? Why did the auditor get hit by a car when he crossed the road? Why did the accountant wear New Balances? What’s an accountants favorite sport to play during busy season? Ultimate FASB.

tax preparation 212

tax preparation Account accountant accounted 212

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?

Account 62

Account accountant accounted auditor 62

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.

audit 52

audit auditor financial statements public accounting 52

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.

cpas 97

cpas cma Real Estate accounting and finance 97

CPA Practice

SEPTEMBER 14, 2023

Growth in Marcum’s public company audit practice has surged in recent years, primarily due to the SPAC-craze. Of the more than 860 SPACs that completed initial public offerings in 2020 and 2021, Marcum audited more than 400 of these transactions.

audit 52

audit auditor accounting firms public accounting 52

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

audit 85

audit auditor Louisiana cpas 85

Going Concern

JULY 26, 2022

After a slow first quarter of 2022 , initial public offerings didn ’t take off in the second quarter either. In fact, the 46 IPOs in Q2 was the fewest since the first quarter of 2020 (38), and the $5.3 billion raised by those 46 companies that went public was the smallest amount since the first quarter of 2016 ($2.9

audit 78

audit auditor public accounting accounting firms 78

Going Concern

APRIL 5, 2024

Private Equity Why private-equity investors see a target-rich environment in Chicago’s accounting biz [ Crain’s Chicago Business ] Isn’t “target-rich environment” what Overwatch’s Soldier 76 says when he pops his ult and proceeds to melt the entire enemy team? Foreshadowing maybe.

auditor 81

auditor audit Oklahoma CPA 81

ThomsonReuters

MAY 5, 2022

The HFCAA was enacted as a way to work through concerns around the inability of the PCAOB to conduct inspections of People’s Republic of China-based auditors of companies listed on US stock exchanges—especially given US investors’ increased exposure to China-based issuers over the past decade. Overview of the HFCAA.

Account 52

Account accountant accounted public accounting 52

CPA Practice

MAY 10, 2023

These were the PCAOB’s very first inspections of Chinese-based audit firms— the audit regulator secured complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong last year, ending a decades-long stalemate. auditors to inspect the records of U.S.-listed

audit 112

audit auditor financial statements public accounting 112

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. “Win big?

Technology 83

Technology Colorado audit cpa firm 83

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.

tax preparation 92

tax preparation Gambling Account accountant 92

Going Concern

SEPTEMBER 22, 2023

Miller was appointed vice president for finance in April 2020 and also serves as the university treasurer. Michael Harlow to Lead Cannabis Practice at CohnReznick [ INSIDE Public Accounting ] New York-based IPA 100 firm CohnReznick LLP (FY23 net revenue of $920 million) has named Michael Harlow as leader of its cannabis industry practice.

audit 86

audit accounting and finance Virginia auditor 86

Going Concern

AUGUST 14, 2023

” Thomson Reuters has your back : The Public Company Accounting Oversight Board (PCAOB) released an analysis showing a concerning trend of increased audit deficiencies and noncompliance with PCAOB standards and rules. The firm, BST & Co., employs nine female and 14 male accounting partners. The rest of it.

audit 52

audit Account accountant accounted 52

Going Concern

MARCH 11, 2024

We’ll be doing an article shortly, in the meantime here are some quotes from INSIDE Public Accounting : Bob Cedergren, MNCPA board chair added, “I can tell you from my own experience, through conversations with colleagues throughout the country and the members of the MNCPA, that we have a significant shortage of CPAs.

audit 62

audit Minnesota Account accountant 62

Going Concern

FEBRUARY 24, 2023

For public accounting firms in Minnesota: Minnesota public accounting firms, no longer being able to practice freely across state lines, would need to provide advance notice and gain a practice permit before signing any client engagement agreement or providing any public accounting service.

Minnesota 96

Minnesota Illinois cpas CPA 96

Going Concern

AUGUST 11, 2023

Accounting and advisory firm Grant Thornton trimmed about 3% of its ranks in June. Firm Watch SingerLewak Grows in Pacific Northwest With Acquisition [ INSIDE Public Accounting ] Los Angeles-based IPA 100 firm SingerLewak (FY22 net revenue of $89.6 The dollars at stake haven’t been finalized, but $23.4

Account 82

Account accountant accounted Tennessee 82

ThomsonReuters

JULY 11, 2023

Accounting firms turn to a three-tiered approach to uncover opportunities Accounting firms are severely impacted by the dynamic post-pandemic economy. Firms are faced with the external challenges of meeting new client demands, increasing compliance pressures, and tax law changes. According to Revelio Labs Inc.,

Technology 73

Technology Account accountant accounted 73

Going Concern

MARCH 25, 2022

Many firms turn to third-party service providers to send and receive electronic audit confirmations to and from “confirming parties,” including banks, financial institutions, investment and brokerage firms, and law firms. In some cases, auditing firms may be relying too heavily on such outside companies.

tax return 52

tax return audit auditor cpas 52

Going Concern

APRIL 20, 2022

As I snarkily mentioned last week , the AICPA has finally released its much-anticipated 2021 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits (or Trends , for short) report [PDF here ], a behemoth data dump of accounting industry stats first released in 1971 and released every two years since 2009.

Account 52

Account accountant accounted CPA 52

Going Concern

APRIL 21, 2023

. “silent layoffs”) are on the menu B4 Layoffs – USA by u/additional_cats in Big4 KPMG is diversifying its partner rank through sponsorships and succession planning [ Fortune ] Partners are among the most senior-level roles at accounting firms and some of the highest paid. KPMG faces $1.4-billion

Account 102

Account accountant accounted audit 102

ThomsonReuters

JANUARY 28, 2021

In 2020, we saw a flurry of COVID-19-related activity at the SEC designed to help companies navigate the business impact of the pandemic. SEC reporting and disclosure impacted by some key 2020 focus areas. In November 2020, the SEC’s Division of Corporation Finance released CF Disclosure Guidance: Topic No.

audit 72

audit Legal auditor Government 72