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The rise of ESG accounting and what it means for auditors

ThomsonReuters

Today, ESG is resulting in significant opportunities for auditors, fueled by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products. Other ESG matters may not have any material effect on the financial statements.

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Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Going Concern

Stanton was licensed as a certified public accountant in New York in 1988 and had previously run his own firm. EY, KPMG and the fallout of two accounting scandals [ Financial Times Opinion ] It is not just shareholders that have become ever more cautious in the wake of one of Europe’s largest accounting scandals.

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Friday Footnotes: How to Add ChatGPT to Excel; RSM Wins Awards; Auditor Independence Pitfalls | 4.7.23

Going Concern

[ 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.

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Monday Morning Accounting News Brief: What Do Big 4 Firms Pay These Days?; EY Gets Sued | 4.8.24

Going Concern

Bloomberg went digging around in Trump Media’s auditor’s PCAOB inspection reports: Trump Media & Technology Group Corp. said in recent regulatory filings that it will keep BF Borgers, a Lakewood, Colorado-based accounting firm, as its auditor after starting to trade publicly late last month.

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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

Audit SEC Settlement Against Auditing Firm Serves as Reminder of Important Independence Rules [ JD Supra ] On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co.

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FASB Seeks Public Comment on Proposal to Improve Disclosures around Income Statement Expenses

CPA Practice

The Financial Accounting Standards Board ( FASB ) has published a proposed Accounting Standards Update (ASU) intended to provide investors with more decision-useful information about a public business entity’s expenses. Stakeholders are encouraged to review and provide comment on the proposal by October 30, 2023.

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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

Iowa addresses accountant shortage, expands eligibility for state jobs [ KCRG ]. Accountants and auditors with the Office of Auditor of State no longer need a four-year degree. Regulator Warns Hong Kong Companies About Auditor Resignations [ Wall Street Journal ].

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