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

Going Concern

Why People Leave Public Accounting [ CPA Journal ]. Writes Edward Mendlowitz, CPA/PFS, ABV: There are many reasons why CPAs decide to leave public accounting firms. The following is a discussion of what I have found to be the most common reasons why people leave public accounting.

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PCAOB Has Handed Out a Slew of Punishments to Audit Firms Recently

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) has not been in a jovial mood lately. 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.

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Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

“Financial reporting leaders, but also investors, regulators, and other stakeholders in the capital markets expect AI to drive audit quality. “Considering both the scope and scale of AI’s impact on financial reporting, enhancing audit quality by using technology to stay ahead of emerging risks is expected.”

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Friday Footnotes: Work-Life Balance, Does It Work?; Big 4 Firms Slash Job Postings; She Doesn’t Even Go Here! | 2.16.24

Going Concern

The Conflict Surrounding Work-Life Balance in Public Accounting Firms [ CPA Journal ] For years, the public accounting sector has been characterized by high employee turnover. In the past few decades, public accounting firms have implemented work-life balance practices as part of their attempts to curb excessive turnover.

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Monday Morning Accounting News Brief: ‘Auditors Are Not Lawyers’; Big 4 Break Up? | 7.31.23

Going Concern

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.”

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The Accounting Talent Shortage is Not New, You Guys

Going Concern

There should be tons of accounting grads drooling for jobs right now and plenty of jobs to go around, no? Up against the 2011 report, the 2021 report numbers look great. Demand is especially strong for audit and tax professionals. OK ready for the prophetic bit? This is a decrease of 2.8% This is a decrease of 2.8%

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Friday Footnotes: Staffing Disasters; Let’s Rag on EY; A Warning For Tax Practitioners | 4.14.23

Going Concern

Staffing Drama Signal Mountain Won’t Pay Accounting Firm For Extra Work On Audit [ Chattanoogan.com ] Clients are the worst The Signal Mountain Town Council has declined to pay an auditing firm extra money it said was due because of inadequate help from city employees in preparing the annual city audit.

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