Accounting Today

JULY 10, 2025

Of some 900 returns that Barr prepared for 2017 to 2019, almost all claimed refunds. By Michael Cohn 6h ago Audit IESBA, IAASB form expert groups on sustainability standards The International Ethics Standards Board for Accountants and the International Auditing and Assurance Standards Board set up technical groups for their standards.

Tax

Accounting Today

JUNE 24, 2025

The IRS has lost almost a third of its auditors to DOGE cuts, and now the DOJs special tax crimes unit is axed. Studer CPA and Michael Studer for repeat violations related to a 2019 audit. TaxConnex ( [link] ): Happy birthday, Wayfair! Your sales tax hits just keep on comin.

tax preparation

Going Concern

MAY 2, 2025

In speeches, he spoke out against rules that limited audit firms ability to make professional judgments. Atkins as commissioner showed disdain for the PCAOB when meeting with officials from the audit regulator, said Martin Baumann, an adjunct accounting professor at Southern New Hampshire University and former PCAOB chief auditor.

audit

Going Concern

DECEMBER 9, 2024

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.

accounted

Going Concern

JUNE 23, 2025

What’s funny is this paragraph they added to the article: AICPA leadership monitored the debate about the PCAOB’s future, showing general support for the role of the auditor in assuring public trust regardless of how supporting regulatory agencies are structured. The Auditing Standards Board sets audit standards for U.S.

accounted

Going Concern

JULY 18, 2025

Audit Automated auditors: could AI undermine financial reporting? Paradoxically, AI can turn the audit into a black box,” he adds. Then, just 38 per cent of BDO’s audits were ranked as satisfactory. Here in Massachusetts, the collapse last year of Steward Health Care has been widely blamed on its ties to PE.

audit

Going Concern

FEBRUARY 14, 2025

accounting firms employed at least one growth executive at the end of 2024, roughly double that of 2019, according to employment-data provider Live Data Technologies. Shoddy audit practices can wreak havoc on the economy, he says. What Happens To Audit Partners Who Issue Negative Internal Control Opinions?

Arizona

Going Concern

FEBRUARY 28, 2025

The sources said PwCs auditing projects would not be affected. Another FW S-T article on the topic states “In recent days, parents on a Keller Facebook page have questioned the cost of the RSM audit, as well as the process by which RSM was selected to perform the audit.” The reason behind the decision is unclear.

West Virginia

Going Concern

JUNE 1, 2023

In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. billion in global revenue.

auditor

PYMNTS

JUNE 26, 2020

According to auditor Ernst & Young (EY) , German payment processor Wirecard knowingly gave false statements and was in the midst of “elaborate and sophisticated fraud involving multiple parties around the world” in regards to $2.1 billion on its books that may not exist. The matter concerns the $2.1

audit

Going Concern

NOVEMBER 1, 2023

The press release says: A number of Deloitte auditors in Ontario changed the date and time settings on their computer clocks to manually override controls in Deloitte’s audit software and backdate audit working paper signoffs between November 2016 and May 2018.

auditor

Going Concern

DECEMBER 21, 2023

Assuming no one but select audit partners actually read this crap, let’s take a look at how auditors should expect increased vigilance in 2024 so everyone can be better informed and stock up on KY. These include prior inspection results and the emerging risks pertaining to a particular audit firm or industry.

auditor

Going Concern

JUNE 9, 2022

Those employers with a history of mismanaging their human capital , like the largest audit firms, are being hit the hardest. To stem the exodus of audit professionals , a udit firms are paying higher salaries to attract and retain the same level of relatively inexperienced professionals. Of course, this means audit fees are going up.

audit

TaxConnex

FEBRUARY 27, 2024

For respondents, the staffing struggle also meant curtailing business growth (19.23%), more errors in sales tax calculation (17.58%), more frustration from existing staff (21.43%) and, perhaps scariest, a growing lack of confidence in being prepared for an audit (22.53%). million accountants and auditors in the U.S. There were about 1.65

Sales

Going Concern

JUNE 29, 2022

The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year , a period in which the number of companies going public was minuscule compared to Q1 of 2021. Marcum and Withum combined audited 49.3%

audit

Going Concern

JUNE 29, 2022

With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.

auditor

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. 11 for breaking various auditing rules. Snodgrass, Mancera S.C.,

audit

Going Concern

DECEMBER 30, 2022

The Black and Yellow had been slowly but surely not screwing up as many audits in recent years. After having a not-great audit deficient rate of 31% in its 2017 inspection report , EY’s error rate had dropped to 26% in its 2018 report , 18% in 2019 , and 15.4% For each issuer audit selected, we reviewed a portion of the audit.

audit

Going Concern

MARCH 8, 2023

For example, there was no evidence that the audit team had, whether in FY2018 or before, obtained and read a 30-year Public Private Partnership contract with FY2018 revenue of c.£77m 640m – was written in French, but the audit team neither possessed French language skills nor obtained a translation of the contract. .£77m

audit

Going Concern

AUGUST 16, 2024

Talent The future of audit talent [ Thomson Reuters ] The landscape for audit talent is shifting significantly. Projections indicate a growth in employment opportunities for accountants and auditors, while roles focused on bookkeeping and data entry are expected to decline. Accountingfly can help!

audit

Going Concern

AUGUST 17, 2023

LLP, its CEO Nigel Bostock, and senior auditor Matthew Stallabrass for the firm’s deficient audit of music streaming company Akazoo Limited. million back in 2021 “for allegedly defrauding investors out of tens of millions of dollars in connection with a 2019 special purpose acquisition company (SPAC) business combination.”

audit

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. Here’s what happened.

audit

PYMNTS

JUNE 29, 2020

In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported.

auditor

Going Concern

MARCH 25, 2024

Do you guys remember the Deloitte auditors in Canada who were busted changing the clocks on their computers to backdate workpapers ? The reason they took the extraordinary step of changing the clocks on their computers is due to a software feature Deloitte added to their audit suite explicitly intended to prevent the backdating of workpapers.

auditor

Going Concern

JULY 31, 2023

Currently KPMG, Deloitte and EY provide both consulting and audit to both the public and private sector. Originally they were just audit firms,” he said. Then the audit firms decided to create this problem by going off and doing their own consulting and the whole thing’s got out of hand.”

auditor

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

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.) billion Canadian dollar ($3.7

auditor

PYMNTS

JULY 2, 2020

As the fallout from Wirecard ‘s $2 billion accounting scandal continues, some attention has turned to the Germany-based payment company’s auditor, Ernst & Young (EY). In response to 2019 claims, Wirecard hired auditing giant KPMG to clear its name. Fraud Concerns Arise. ” Swift Blowback. .

auditor

CPA Practice

APRIL 7, 2023

In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. It can streamline workflows, reduce the chance of errors and alleviate stress for accountants by improving time-intensive work, which is critical during auditing crunch times. By Cameron White.

accounting firms

TaxConnex

MARCH 21, 2024

It did, but the South Carolina Department of Revenue later audited Amazon and found that it had failed to adequately tax sales by third-party merchants. Auditors slapped Amazon with some $12.5 million in taxes, penalties and interest for the first three months of 2016.

South Carolina

Going Concern

APRIL 5, 2022

It only took five years, but Scott Marcello finally received some sort of punishment for what happened in KPMG’s audit practice several years ago as partners were working with PCAOB insiders to illegally receive advanced notice of the PCAOB’s inspection plans for KPMG audits. In May 2015, KPMG hired Brian Sweet as a partner.

audit

Going Concern

MAY 24, 2024

[link] pic.twitter.com/yegGRtXHFN — Going Concern (@going_concern) May 23, 2024 News PwC faces crisis in China over audit of failed property giant Evergrande [ Financial Times ] The Ls just don’t stop for PwC. However, it was announced to partners at a meeting on Tuesday that Shaw had triumphed in a five-candidate race.

audit

Going Concern

SEPTEMBER 28, 2023

“Like oxygen, audit quality may not be fully appreciated when it is present, but I think you can definitely tell when it’s missing.” Auditors are wild, you never know. Professional skepticism is an attitude that includes a questioning mind and a critical assessment of audit evidence. ” Relevant GIF.

auditor

CPA Practice

APRIL 3, 2023

In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. It can streamline workflows, reduce the chance of errors and alleviate stress for accountants by improving time-intensive work, which is critical during auditing crunch times. By Cameron White.

accounting firms

Going Concern

JANUARY 13, 2023

From 2016 until its 2020 inspection report, Grant Thornton had an average audit failure rate of about 21%. Not bad for a firm that had an average audit failure rate of 44% from 2010 to 2015. Seven of the 31 audits we reviewed in 2021 are included in Part I.A We didn’t save the best for last, but it’s not that bad either.

audit

Going Concern

DECEMBER 19, 2023

445 professional staff — 93 percent auditors and seven percent tax and advisory — participated in answer sharing during mandatory, open-book internal training assessments between 2016 and 2020. auditing curriculum. Here’s what happened. So we kinda already knew there was some cheating going on over there.

auditor

Going Concern

JUNE 29, 2023

Although Big 4 audit fees have increased so much in the last several years clients wrote a strongly worded letter to complain about it , PwC UK told its 25,000 staff last week that things will be tight this year. PwC’s most junior auditors are paid between £26,000 and £34,000 a year depending on location, an insider said. billion ($2.2

auditor