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EY Gets Caught Up in Independence Violations Because Audit Partner Rotation Is For Chumps

Going Concern

After a review, EY concluded that it was not in compliance with the SEC’s auditor independence rules for the audits of the applicable years. EY audited SWSF from the financial year ended December 31, 2009 until its resignation as auditor in April of 2021.

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PCAOB Gives Chinese Audit Firm the Boot Over Rules Violations

CPA Practice

Over a period of several years, JTC Fair Song CPA Firm, a public accounting firm located in Shenzhen, the People’s Republic of China, repeatedly failed to make required filings in accordance with PCAOB rules, the audit regulator said.

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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

She wrote that the local firm needed to comply with a set of remedial actions or face suspension, or expulsion, from the global network. ” The new office will employ a team of 15 by the end of the year, with all positions in the Boca office staffed by accounting professionals, Goldberg said.

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Friday Footnotes: The Profession’s Ethics Dilemma; Co-Pilot Called Out in Court For Calculations; Audit Uncovers File Called ‘Twilight Zone’ | 10.18.24

Going Concern

Firm Watch Accountancy firm BDO fined €1.3 million for work with Russian-held football club Vitesse [ NL Times ] The fine is regarding the work that BDO did as an accountant for football club Vitesse, and a holding company of the former owner of the club, Russian businessman Valeri Oyf, sources told FD.

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Bet on growth through experimentation at firms

Accounting Today

The difficult strategic decisions facing accounting firm leaders today boil down to two options: pursuing the increasingly popular path of private equity or journeying down the less certain road of independent innovation and transformation. Since 2021, nearly a quarter of the 100 biggest U.S.

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PwC’s Global Revenue Tops Out at $55.4 Billion in 2024

CPA Practice

billion during its 2024 fiscal year that ended June 30, the Big Four accounting firm said on Monday. The slower growth in Big Four accounting firm revenues in 2024 is primarily due to a slowdown in consulting work over the past 12 to 18 months, which has resulted in layoffs at each firm in several locations, including in the U.S.

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Friday Footnotes: PCAOB Demands More Tedious Paperwork From Firms; PwC Partners Retire Early; KPMG Redeems Itself? | 11.22.24

Going Concern

Audit Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator [ Wall Street Journal ] Large accounting firms will have to submit financial statements annually to the U.S. Regulator [ Wall Street Journal ] Large accounting firms will have to submit financial statements annually to the U.S.

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