Going Concern

MAY 20, 2024

PwC is facing legal action claiming the accountancy firm is liable for the alleged rape of a graduate employee following after-work drinks. Illinois CPA Society has issued a new pipeline report: Re-Decoding the Decline. The framework has been rolled out to more than 130,000 EY Assurance professionals. Please and thank you.

audit 104

audit auditor Account accountant 104

Going Concern

JULY 31, 2023

Former partner Wayne Plummer told PwC partners in December that the firm had made an in-principle agreement with the Tax Office to settle on a no-admissions basis in return for a 50 per cent reduction in penalties that totalled several hundred thousand dollars. Such suggestions are false.

auditor 98

auditor Account accountant accounted 98

TaxConnex

FEBRUARY 27, 2024

More generally, accounting talent pool concerns are pressing even for accounting firms , as enrollment rates of accounting students continue to fall. The accounting education pipeline is drier than ever even as accounting degrees require many additional course hours. Are they experienced with auditors?

Sales 219

Sales Tax Account accountant 219

Going Concern

APRIL 7, 2023

[ Wall Street Journal ] A tap story from WSJ says accountants and writers are among the jobs that could be most affected by AI tools (*gulp*) Big 4 March people moves: KPMG, Deloitte, PwC make senior hires [ AccountancyAge ] Musical chairs across the pond. ’s accounts drew scrutiny from regulators, the firm’s plan to secure a U.K.

auditor 104

auditor chartered accountant audit accounting and finance 104

Going Concern

MAY 12, 2023

The accountancy sector is no exception. According to Accountancy Age’s latest 50+50 report, in 2022, the average staff attrition rate rose to 17.89% across the sector, compared to 14.69% in 2021. The decrease is minimal, but firms cannot afford to be losing additional staff while applicants for new positions are down.

CPA 109

CPA Account accountant accounted 109

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

JANUARY 6, 2023

So customers have filed more than a half-dozen proposed class actions against the NFL’s Tom Brady, accounting firm Prager Metis and Bankman-Fried as an individual, among others. 2024 CPA Exam Blueprints released [ Journal of Accountancy ]. Money Diary: A Senior External Auditor On 54k [ Refinery29 ].

cpa firm 52

cpa firm CPA New Hampshire Ohio 52

Going Concern

MAY 5, 2022

Here’s a 2015 AICPA article that sort of cosigns my foggy recollection : The profession’s focus on the CPA pipeline has long been a priority. That will continue, with new approaches to attracting, engaging and inspiring the future generation of CPAs. Aaaand the same chart from 2021 [full report can be downloaded here ].

auditor 52

auditor audit cpas CPA 52

Going Concern

APRIL 15, 2022

More Predictions about the Profession’s Future [ The CPA Journal ] Writes Yigal Rechtman, CPA, CFE, CITP, CISM: The current impediments to growth are mostly driven by the perception of prospective entrants to the CPA profession. For example, every startup would benefit immensely from having a CPA among its founders.

accounting firms 52

accounting firms audit Account accountant 52

Going Concern

NOVEMBER 24, 2023

KPMG extends pay freeze to 12,000 UK staff [ Financial Times ] Bosses at the Big Four accountancy firm told staff across its four divisions in recent weeks that they would not receive a pay rise this year unless they were promoted, according to people familiar with the matter.

auditor 113

auditor audit tax return cpas 113

Going Concern

SEPTEMBER 29, 2023

CPA Exam Friendly reminder, deadlines to apply for BEC before the new exam in 2024 are quickly approaching. CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever Also, WTF? CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever Also, WTF? Did Exam Costs go up?

auditor 109

auditor audit New York CPA 109

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. Andrea Carr CPA (@andreacpa0) March 31, 2022. Chinese and U.S.

auditor 52

auditor accounting jobs accountant jobs accounts jobs 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

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.

Technology 102

Technology Colorado audit cpa firm 102

Going Concern

SEPTEMBER 1, 2022

Last week, we published a letter written to Fortune by a former CPA who pivoted to driving 18-wheelers and found far more career happiness than he ever would have in accounting (good for him). Accounting and being a CPA have been the worst personal decision and professional organization I’ve been a part since passing.

cpas 98

cpas cma Real Estate accounting and finance 98

CPA Practice

SEPTEMBER 20, 2023

However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% defying predictions that fees could rise to accommodate higher salaries in a profession where there is a shortage of qualified accountants , the Financial Times noted. in the U.S., Overall, total fees reached $6.76

audit 105

audit auditor accounting firms Tax 105

Going Concern

JANUARY 29, 2024

NYSSCPA CEO Calvin Harris, CPA said in a column for CPA Journal : But the winds of change have long been upon us. We are in the midst of a transformation, if not a revolution, whereby the role of an “accountant” is no longer confined to ledgers and balance sheets, but extends to realms previously unimagined. Why the Question?

auditor 52

auditor cpa firm Account accountant 52

CPA Practice

MAY 11, 2023

Accounting firms have faced a volatile profession in the past year as teams struggled with burnout while staff shortages increased, regulatory changes caught firms off guard – increasing compliance and security concerns – and tax laws became increasingly more confusing for clients and CPAs alike. By James Paille, CPP.

Account 119

Account accountant accounted payroll 119

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 ]. It’s just a tough subject area, and you need a fifth year of college education to qualify to sit for the CPA exam. It makes the major less appealing to a lot of people.”

audit 98

audit auditor Louisiana cpas 98

CPA Practice

MAY 9, 2023

You may have heard that job openings in the United States dropped significantly in February, falling below 10 million for the first time since May 2021. But employers — including CPA firms — shouldn’t assume they can breathe any easier when it comes to retaining in-demand talent. Your starting point?

Account 115

Account accountant accounted cpa firm 115

Going Concern

APRIL 29, 2022

ICYMI | The CPA Evolution Project Realigns the Professional Certification and Challenges Accounting’s Viability as a Stand-alone Major [ The CPA Journal ] Accounting—at least as an independent field of study—is becoming obsolete in today’s technology- and analytics-focused world. Less work for EY auditors?

auditor 52

auditor audit Account accountant 52

Going Concern

MARCH 1, 2023

Members of the accounting firm Armanino’s digital-asset practice have departed and formed a new startup – The Network Firm – to carry on the business of providing audits, attestations and related work for crypto clients. Armanino has said it stands by its 2020 and 2021 audits of FTX US.

cma 113

cma audit CPA auditor 113

Going Concern

MARCH 22, 2024

The decision was backed by a partner vote, following a first three years dominated by efforts to repair the firm’s reputation in the wake of a series of scandals. She made general manager at 29 with a CPA [ eFinancialCareers ] Many young professionals begin to eye managerial posts as they approach their 30s – but Shanny Lee (CPA, Aust.)

Minnesota 111

Minnesota cpas audit CPA 111

Going Concern

FEBRUARY 12, 2024

Someone you know spoke to NPR’s Marketplace for this story: Some accountants are turning away new customers this tax season Tax filing season is here and if you’ve been putting off finding a CPA, good luck. We get calls all the time saying, ‘Hey, my CPA just retired. Do you have room?’ Some are finding solutions overseas.

auditor 70

auditor Account accountant accounted 70

Going Concern

SEPTEMBER 19, 2023

A few days ago the paper-pushers at the PCAOB released 15 new inspection reports and three expanded reports for the following firms: Inspection reports De Visser Gray LLP (Canada) Ernst & Young Limited Corp. Panama) Frost, PLLC Harbourside CPA LLP (Canada) Keith K Zhen CPA Maggart & Associates, P.C AS 2315.16,23, and.23A)

audit 67

audit auditor CPA financial statements 67

Going Concern

DECEMBER 13, 2023

Let’s Start the Year Off With Some Doomsaying Predictions For the Profession in 2023 Jack Castonguay, PhD, CPA (who is currently boycotting Twitter but whose back catalog can be found at @profjack ) tweeted these predictions, or and commentary in brackets added by me. Yes, let’s.

Minnesota 111

Minnesota CPA Start-ups audit 111

CPA Practice

SEPTEMBER 14, 2023

As a result, Marcum recently had to pay financial penalties to the SEC and the Public Company Accounting Oversight Board (PCAOB) because of quality control failures and violations of auditing standards during its audits of special-purpose acquisition companies (SPACs).

audit 52

audit auditor accounting firms public accounting 52

Going Concern

SEPTEMBER 22, 2023

“The job security and the ability to have a comfortable life motivated me at first,” said Khokhar, who served as a senior accountant at two construction firms and senior auditor at an accounting firm. A greater percentage of accountants are leaving the profession later in their careers now than in years past.

Account 113

Account accountant accounted CPA 113

CPA Practice

FEBRUARY 23, 2024

Grant Thornton’s India arm and an Australian audit firm also received penalties from the PCAOB. The biggest fine was given to top 25 accounting firm Withum, which was docked $2 million on Feb. 21 for “pervasive” quality control violations found in its audits of special-purpose acquisition companies (SPACs) in 2020 and 2021.

audit 69

audit auditor Tax accounting firms 69

CPA Practice

MAY 2, 2023

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. Paula Laurenti, Key Accounts Manager at SAPRO.

cpas 69

cpas auditor accounting firms accounting and finance 69

CPA Practice

FEBRUARY 23, 2023

You were proactive and diligent about readying your accounting firm for tax season, and yet you’re still facing staffing gaps precisely when you need all hands on deck. Unfortunately, the shortage of talent in the accounting profession isn’t minor or likely temporary. The number of U.S.

Account 121

Account accountant accounted accounting and finance 121

Going Concern

JULY 5, 2023

This is the first time a company has been directly linked to the national scandal involving the “big four” accounting firm that was first revealed in January, they said. The Florida State Fire Marshal is investigating a suspicious fire at Orange Park CPA in the Jacksonville burbs. That’s only 3.2% More from FT.

auditor 52

auditor Tax Account accountant 52

CPA Practice

MAY 15, 2023

However, the 46 IPOs is lower than the 85 completed in Q1 2022 and significantly smaller than the 407 in the first quarter of 2021, the analysis revealed. Compared to Q1 2022 , total proceeds dropped 72%, continuing the IPO malaise that has occurred since the surge of companies that went public in 2020 and 2021.

auditor 52

auditor audit accounting firms Account 52

Going Concern

FEBRUARY 19, 2024

Underemployed staff at the Big Four auditors risk losing their jobs as firms step up their scrutiny of employee workloads in a downturn. EY and Deloitte are among firms that are letting inactive employees go at performance reviews outside of already announced job cuts, according to sources. and moving into the U.S.

auditor 57

auditor Account accountant accounted 57

CPA Practice

APRIL 15, 2023

One of the Big Four accounting giants in the U.S., Following a split, EY would have been able to advise companies for which it also acted as auditor. member firm to Project Everest, we are stopping work on the project.” Today’s Big Four accounting firms, ranked by 2022 revenue Deloitte: $59.3 billion PwC: $50.3

audit 92

audit auditor accounting firms Account 92

Going Concern

SEPTEMBER 22, 2023

Mendlowitz establishes scholarship at Baruch [ Accounting Today ] Ed Mendlowitz, an emeritus partner at Top 100 Firm Withum and widely respected figure in the accounting profession, has established the Mendlowitz Family Scholarship at Baruch College. Both Mendlowitz and his father, also a CPA, attended the CUNY school.

audit 107

audit accounting and finance Virginia auditor 107

Going Concern

JANUARY 8, 2024

S&P has placed 149 long-term, underlying and program ratings on a negative credit watch this year because the ratings company hasn’t received 2021 financial statements from the issuers. The firm works with the local governments to compile information for the audit throughout the year. We have that on file with the state.

Wyoming 125

Wyoming audit Government Montana 125