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Friday Footnotes: They Really Screwed Up That PCAOB Cheating Thing; Better Not Get Burned Out; Uber of Audits | 3.8.24

Going Concern

In an interview with Bloomberg Law, Punt said he is optimistic about growing the accounting giant’s market share for the proactive services Deloitte calls “business transformation,” arguing general counsel need to deliver more value to their businesses through streamlined processes. When conducting the fiscal year 2021 audit of Tingo, Inc.,

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Friday Footnotes: KPMG Accounts For Half of All Audit Fines; LGBT Accountants Dip; EY in Big Debt? | 7.29.22

Going Concern

note: fans of accounting news — all two of you — are encouraged to sign up for our newsletter to get headlines delivered to your inbox twice a week on Tuesday and Friday. The draft legislation uses a version of company income, as measured under US financial accounting rules, to determine what businesses owe in taxes.

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Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

The following is a discussion of what I have found to be the most common reasons why people leave public accounting. Audit committee disclosures increase, right along with workload [ Journal of Accountancy ]. The Pentagon Can’t Count: It’s Time to Reinvent the Audit [ War on the Rocks ].

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Monday Morning Accounting News Brief: Capping Busy Season Hours FTW; Open the Books on Audit Firms? | 4.15.24

Going Concern

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. .” If finalized by the Board, the proposed chapter would become Chapter 6 of FASB Concepts Statement No.

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Friday Footnotes: Rettig Is Out at IRS; KPMG and Deloitte Suck at Auditing; Desperate For Accountants | 10.28.22

Going Concern

They are talking about audit firm resignations, not auditors quitting just before the finish line. Hong Kong’s accounting regulator is sounding the alarm over a surge in auditor resignations a month before or after a company’s reporting period ends. Big Four Shunned SPAC IPOs But Now Flock to Audit New Companies [ Bloomberg Tax ].

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Friday Footnotes: Client Hid ‘Damning’ Audit; Predictions for the Profession; Accounting Firm Gets Compromised | 4.15.22

Going Concern

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.

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The rise of ESG accounting and what it means for auditors

ThomsonReuters

Shedding light on the tie between ESG matters and their direct or indirect impact on a company’s financial statements, the Financial Accounting Standard Board (FASB) published in 2021 the Intersection of Environmental, Social, and Governance Matters With Financial Accounting Standards.

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