Going Concern

APRIL 30, 2024

It’s been almost six years since the Canadian government legalized recreational cannabis and ever since, a microcosm of financial reporting and auditing has been growing (no pun) beside it. Note that many companies switched auditors so not all fees listed went to the current auditor.)

auditor 109

auditor audit Legal Tax 109

CPA Practice

APRIL 29, 2024

Calling all public company executives, board members, auditors, financial analysts, and investors: The Public Company Accounting Oversight Board’s Investor Advisory Group (IAG) needs a favor. KAMs are selected from matters communicated with those charged with governance.

auditor 65

auditor audit financial statements Government 65

LSLCPAs

FEBRUARY 27, 2024

There’s no question that annual financial statement audits are sometimes considered a “necessary evil”. However, the feeling is often eased with familiarity of the process, familiarity with your Agency’s operations, and familiarity with your auditors. We (the auditors) like to think of them as even enjoyable!

audit 59

audit auditor cpas financial statements 59

CPA Practice

APRIL 10, 2024

The Public Company Accounting Oversight Board (PCAOB) issued a pair of proposals on April 9, one of which would require audit firms to publicly disclose several metrics —including the involvement of partners and managers on an audit, auditor workload, and auditor turnover—on a new form that would be accessible to investors.

audit 52

audit auditor public accounting accounting firms 52

Going Concern

MARCH 24, 2023

The federal government levies taxes on collectibles held for more than a year at a top rate of 28%. EY, KPMG and the fallout of two accounting scandals [ Financial Times Opinion ] It is not just shareholders that have become ever more cautious in the wake of one of Europe’s largest accounting scandals. Auditors have done so too.

auditor 104

auditor audit Entertainment Real Estate 104

ThomsonReuters

DECEMBER 6, 2022

The spotlight on environmental, social, and governance (ESG) continues to intensify as businesses are increasingly being called upon to disclose more about their ESG performance and strategies. Risks and opportunities related to ESG matters may have an unfavorable, favorable, or neutral effect on financial statements.

auditor 59

auditor Account accountant accounted 59

Going Concern

OCTOBER 27, 2022

.” The administrators, whose job it is to find some funds to repay NMC creditors, say EY auditors did not detect that NMC’s accounts were fraudulently misstated to the tune of a couple billion dollars. “Whose statements are these? EY charged NMC $14 million for audit work performed over a period of about seven years.

audit 103

audit auditor Legal Transportation 103

Going Concern

SEPTEMBER 22, 2023

economy, including employment, labor income, and tax contributions to federal, state, and local governments. The 2023 Forum on Auditing in the Small Business Environment and on Auditing Broker-Dealers is set for Oct. The 2023 Forum on Auditing in the Small Business Environment and on Auditing Broker-Dealers is set for Oct.

audit 107

audit accounting and finance Virginia auditor 107

Going Concern

APRIL 7, 2023

Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. Last month, audit firm BDO issued a so-called qualified opinion for Revolut’s 2021 accounts.

auditor 104

auditor chartered accountant audit accounting and finance 104

Going Concern

JANUARY 6, 2023

Fat Joe’s favorite audit firm once again had a spectacularly horrible PCAOB inspection report. In the 2021 inspection of BDO USA, LLP, the PCAOB assessed the firm’s compliance with laws, rules, and professional standards applicable to the audits of public companies. For each issuer audit selected, we reviewed a portion of the audit.

audit 98

audit Real Estate financial statements auditor 98

ThomsonReuters

MAY 2, 2023

In this second post, we’ll dig into ensuring audit quality. Specifically, we’ll look at the need for auditors to maintain professional skepticism and document their work thoroughly to improve audit effectiveness and efficiency. In other words, how did the auditor identify a risk of material misstatement?

audit 52

audit auditor financial statements Account 52

CPA Practice

MAY 14, 2024

The Public Company Accounting Oversight Board (PCAOB) has overhauled its decades-old quality control requirements for audit firms by adopting a new standard on May 13 designed to put the onus squarely on auditors and executives. Firms themselves have also changed significantly, as has the role of firm networks.

auditor 69

auditor audit accounting firms financial statements 69

ThomsonReuters

JANUARY 12, 2023

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. One of these specialties is ESG audits. . What is an ESG audit? Like any audit, ESG audits can be internal or external. Who performs an ESG audit?

audit 52

audit auditor Technology Government 52

Going Concern

AUGUST 12, 2022

Hold Auditors Accountable for Complicity in Corporate Fraud [ Bloomberg Tax ] Unfortunately, since the fall of Arthur Anderson in the wake of the Enron scandal, the SEC and PCAOB have often failed to go after auditors playing fast and loose with the rules. over BT fraud audit failures [ The Guardian ] PwC has been fined almost £1.8m

auditor 98

auditor Account accountant accounted 98

TaxConnex

JULY 6, 2023

Government Accountability Office’s “Remote Sales Tax: Federal Legislation Could Resolve Some Uncertainties and Improve Overall System,” issued late last year. One way that jurisdictions can discover your company’s nexus is through audit – and not just an audit of you.

auditor 130

auditor audit Tax Sales 130

Going Concern

APRIL 15, 2024

The audit opinions they issue typically have meaning and value because the firms operate with public trust. In the public company audit arena, this transparency is maintained through PCAOB inspections of auditors. In the public company audit arena, this transparency is maintained through PCAOB inspections of auditors.

audit 62

audit Account accountant accounted 62

Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? the auditor of Tesla Korea, about the company’s financial statements for last year.

CPA 104

CPA auditor Tax audit 104

Going Concern

NOVEMBER 11, 2022

The next generation of accountants and auditors is in demand, but Ben Lansford, an accounting professor and director of the Master of Accounting program at the Jones Graduate School of Business at Rice University explained why some are hesitant. Audit Fees Rise Only 2.5%, But Audits Require Greater Effort [ CFO ].

audit 98

audit auditor Louisiana cpas 98

ThomsonReuters

JUNE 28, 2023

When you look at ESG through the lens of a tax and accounting firm, reporting on environmental, social, and governance factors is enabled by data. This includes ESG audit support that verifies the effectiveness of controls, as well as activities that identify gaps, assess risks, and develop a recommended plan of action.

Tax 98

Tax auditor audit Technology 98

CPA Practice

JANUARY 16, 2023

Corporate boards are taking a fresh look at their audit committee structures and practices in light of emerging corporate reporting areas and increased risks, according to a new survey and collaborative report from Deloitte’s Center for Board Effectiveness and the Center for Audit Quality (CAQ).

audit 69

audit auditor financial statements Government 69

Going Concern

MAY 13, 2024

We have further clarified that this responsibility provides the foundation for an objective and independent audit. We included additional clarification that an auditor’s professional skepticism extends to other information that is obtained to comply with PCAOB standards and rules. PCAOB Chair Erica Y.

Oregon 96

Oregon Account accountant accounted 96

Going Concern

MARCH 4, 2022

Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine. Antar (@SamAntar) March 4, 2022.

audit 91

audit Kansas auditor bookkeeping jobs 91

Going Concern

SEPTEMBER 29, 2023

Deloitte UK said revenue grew 14% to £5.6bn in the year to May, as buoyant markets in the first six months of its financial year bolstered demand for audit and advisory work. It helped offset the “increased caution” among more cash-strapped clients and a slowdown in merger and acquisition activity in the months that followed.

auditor 109

auditor audit New York CPA 109

Going Concern

APRIL 29, 2022

Less work for EY auditors? What about more accountability [ Financial Times ] “Quality before growth, quality before margin.” 2022 Impact Plan today outlining environmental, social, and governance (ESG) strategies and commitments across four pillars: People, Planet, Prosperity, and Principles of Governance.

auditor 52

auditor audit Account accountant 52

Going Concern

MAY 23, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 57

Real Estate Account accountant accounted 57

Going Concern

MAY 16, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 57

Real Estate Account accountant accounted 57

Going Concern

JULY 5, 2022

Interesting piece over at the Wall Street Journal this morning about environmental disclosures or, more significantly, who gets to charge clients for auditing this data under SEC climate disclosure rules proposed in March. Only certified public accountants can audit public companies’ financial statements, per U.S.

audit 52

audit Non-Profits auditor cpas 52

Going Concern

NOVEMBER 24, 2023

The shortage is also not limited to tax accountants but extends to those involved in financial planning, auditing, and other accounting tasks​​. This situation is especially burdensome for middle-market companies, which rely heavily on accurate financial reporting and auditing​​.

auditor 113

auditor audit tax return cpas 113

Going Concern

AUGUST 21, 2023

Someone who isn’t an auditor complains on Blockworks about using the word audit for things that aren’t audits and then explains in graphic detail the various audit-like things that one can engage in (that aren’t audits). I’ll leave this to my audit colleagues.

audit 52

audit Account accountant accounted 52

PYMNTS

JANUARY 2, 2020

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. Reverse Factoring, Auditing Scrutinized.

auditor 52

auditor accounting and finance audit Finance 52

Going Concern

MAY 26, 2023

PwC to remove staff involved in Australia tax leak scandal from govt work [ Reuters ] PricewaterhouseCoopers (PwC) has agreed to remove staff with links to the leak and use of confidential Australian tax plans from government work, a senior government official told an inquiry on Thursday. The reshuffle goes into effect on July 1. ‘No

public accounting 102

public accounting Account accountant accounted 102

Going Concern

APRIL 1, 2022

ARB’s auditor Messrs BDO voluntarily resigns after failure to reach agreement on proposed increase of audit fees [ The Edge ] Expect to see a lot of this going forward: ARB Bhd on Friday (April 1) announced its auditor Messrs BDO PLT (BDO) has voluntarily resigned. Chinese and U.S. That’s one way to go.

auditor 52

auditor accounting jobs accountant jobs accounts jobs 52

ThomsonReuters

APRIL 24, 2023

At the core of every audit is the identification and assessment of risks of material misstatement, which is critical given the potential impact on a company’s financial position. It also revises the definition of significant risk so that auditors will be focused on where the risks lie on a spectrum of inherent risk.

auditor 59

auditor audit financial statements Tax 59

Going Concern

DECEMBER 1, 2023

The measure targets the non-audit departments of each city branch in China, including consulting, financial advisory, risk advisory and assurance. As I sat under the Commencement tent, I expected to hear messages about working hard to build a company and achieve revenue growth,” Christopher Hill ’23, an audit associate at PwC, says. “I

cpas 109

cpas audit auditor CPA 109

Going Concern

NOVEMBER 18, 2022

More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. KPMG blocked from Abu Dhabi audits as it elects new regional boss [ Financial Times ]. In India, the Big Four firms conduct their audit business through affiliate firms.

Technology 96

Technology audit auditor accounting and finance 96

Going Concern

APRIL 15, 2022

Accounting watchdog investigates Deloitte over Go-Ahead audits [ The Guardian ] One of the UK’s biggest accounting firms, Deloitte, is under investigation by regulators for its audits of Go-Ahead, after the bus and rail operator was embroiled in a scandal for wrongly withholding £50m of taxpayers’ money. As a result, U.S.-based

accounting firms 52

accounting firms audit Account accountant 52

Going Concern

FEBRUARY 10, 2023

Audit Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record [ Bloomberg ] A $4 billion accounting shortfall would typically raise alarm bells for an auditor. We have seen an immense commitment from the government to invest in the metaverse and explore the technology’s public utility.

Florida 104

Florida Tax North Dakota Account 104