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Monday Morning Accounting News Brief: Accounting Errors Are Up, Way Up; Deloitte’s Getting a New King of Consulting | 12.9.24

Going Concern

Accounting errors force US companies to pull statements in record numbers, writes FT : The number of US companies forced to withdraw financial statements because of accounting errors has surged to a nine-year high, raising questions about why mistakes are going unnoticed by auditors. At this point we know the answer.

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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

Day will join the FASB from Ernst & Young LLP (EY), the global accounting and professional services firm, where he is a partner working in Professional Practice. Mr. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St. Louis, Missouri.

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Extending Outsourcing Contracts Can Alleviate Shortage of CPAs

CPA Practice

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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AICPA News – Feb. 2024

CPA Practice

AICPA Shares Plan to Strengthen Accounting Pipeline According to the American Institute of CPAs ‘ 2023 Trends Report, bachelor’s degree completions in accounting dropped 7.8% Master’s degree completions also fell in 2021–2022 (−6.4%), but the percentage decline is significantly less than in 2019–20.

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Monday Morning Accounting News Brief: KPMG Gets a New Tax Leader; Bad News For MBAs; Deloitte Cheating | 10.16.23

Going Concern

.” Accounting has been taking a beating in the public square recently, with a steady drumbeat of news about the decline of people either entering or exiting the profession. Our talent challenges are real, but perspective about the opportunities and appeal of an accounting career has been lacking.

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Friday Footnotes: RSM Layoffs; The Leader Who Cried On His First Day; Advisory Pays Better (Duh) | 5.5.23

Going Concern

The models can read documents and pull-out information that auditors are looking for. “It It makes doing audits much faster, eliminating some of the human error, providing move value to some of the accounting audit work that we do for our clients,” he said. . On day one. I was 21 at that point.”

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Friday Footnotes: How Are Firms Actually Using Data Analytics?; KPMG and BDO on the Move | 9.15.23

Going Concern

Audit Comments Raise Concerns About PCAOB’s Proposal To Expand the Scope of Audits and the Role of Auditors [ JD Supra ] In June 2023, the Public Company Accounting Oversight Board (PCAOB) proposed sweeping amendments to its auditing standards. Comment letters raise serious questions about the consequences of the proposed changes.