ThomsonReuters

DECEMBER 27, 2024

Blog home With the introduction of Accounting Standards Update 2023-08, Subtopic 350-60, the landscape for accounting, audit, and assurance of cryptocurrency is evolving. Unique audit risks related to cryptocurrency What is an auditors responsibility in crypto audits? What can accountants do to prepare for crypto audits?

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Accounting Today

JUNE 23, 2025

If youd asked me a year ago, I would have said the idea that they might be losing a substantial amount of federal funding is probably not something I would have worried about too much," said GASB chair Joel Black in an interview with Accounting Today. But in todays environment, its at least something they have to consider."

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CPA Practice

OCTOBER 23, 2024

1, A Firm’s System of Quality Management , adopted by the AICPA. Webinar : This webinar, led by expert staff in the PCAOB’s Office of the Chief Auditor, provides an overview of QC 1000 requirements and is designed to help auditors prepare for the standard’s implementation.

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Going Concern

NOVEMBER 4, 2024

In an email to staff on Monday, the firm’s chief executive, Kevin Burrowes, said staff should expect police to remain inside the Sydney headquarters for “several days”. Reports NL Times : The accountancy firm Ernst & Young (EY) is the latest accounting company to discover exam fraud. Should that be allowed?

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Going Concern

OCTOBER 21, 2024

ICYMI: American Institute of CPAs (AICPA) and the National Association of State Auditors, Comptrollers and Treasurers (NASACT) suggest state and local governments step it up to beat the talent shortage. But accountants who do government work face unique challenges that require more specialized solutions.

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Accounting Today

JULY 16, 2025

In May, Armanino expanded into Utah by adding Cooper Savas LLC , a CPA firm based in Salt Lake City. In February of this year, Armanino acquired Boca Raton, Florida-based ERP and technology consulting firm Complete Business Solutions. In 2022, it merged in Philadelphia-based Drucker & Scaccetti.

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Going Concern

OCTOBER 14, 2024

Land an internship at a prestigious accounting firm. Fast forward to her sitting for the CPA exam 10 times and failing 9 while still in grad school… I had a glaring red flag in front of me that I was in the wrong profession, and yet, I clung to my career in accounting because it was a part of the plan. .”

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Going Concern

OCTOBER 25, 2024

Firm Watch Whistleblower says big accounting firm hid evidence that a Saudi co-defendant helped finance 9/11 [ Florida Bulldog ] So this is…a lot. For the second year in a row, New York-based accounting firm PKF O’Connor Davies took the #1 spot on Vault’s Best Overall Internships list.

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Going Concern

NOVEMBER 22, 2024

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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Accounting Today

JUNE 5, 2025

In February 2023, Trifilo sought to obtain a $1.36 From November 2017 to December 2023, Rhew defrauded at least 117 investors of at least $24 million. By Michael Cohn 11h ago Audit Auditors' pessimism about economy surges Audit partners pessimism about the U.S. million during that time. All Rhews representations were false.

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Going Concern

OCTOBER 11, 2024

Remaining Downtown: While others move on, an accounting firm is expanding in the Golden Triangle [ Pittsburgh Post-Gazette ] At a time when many firms are downsizing their office space, Louis Plung & Company is going against the flow. accounting firm, fueling skepticism about the true state of its reserves.

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CPA Practice

NOVEMBER 25, 2024

Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche. He joined the Governmental Accounting Standards Advisory Council (GASAC) in 2011 as a representative of the Government Finance Officers Association (GFOA) and served as chair from 2015-2021.

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Accounting Today

JULY 10, 2025

In 2022 and 2023, he and others operated a ghost prep business in three Augusta locations, including a church and Browns residence. Kim Brown and another individual ghost preparer prepared 22 false returns that caused the Treasury to issue $541,912 in false refunds. Allen Brown, 41, separately pleaded guilty to wire fraud.

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Accounting Today

JULY 15, 2025

We had 100% bonus depreciation until 2023 and in 2023 it began to phase out at 20% each year," said Boccaccio. "In In 2023 you couldnt deduct 100%. The bonus depreciation went down to 80% in 2023 and in 2024 it went down to 60%. On the other hand, he noted that the bill restores 100% bonus depreciation. "We 19, 2025."

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Going Concern

NOVEMBER 25, 2024

Crash victim John Cooper sued PwC partner Ousmane Caba and the company in March, claiming Caba was so drunk he was “barely conscious” when he left San Francisco in June 2023 after a day and night of drinking at events sponsored by PwC. UNI’s CPA pass rate for the 2023 CPA exam is 78.3%, with the average passing rate being 79.3%.

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Going Concern

JUNE 16, 2025

Podcaster and observationalist David Leary has a prediction for the future of firms. The tweet : HOT TAKE: AI isn’t going to save accounting firms; it is probably going to kill them. What kind of hybrid monster will accounting firms be in the future? 43,000+ restaurants that do NOT serve Coca-Cola.

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Accounting Today

JULY 8, 2025

We can now go back to the old provisions, especially for small businesses with under $31 million in revenue, and amend for 2022, 2023 and 2024. Roger Russell Senior Editor, Accounting Today mailto linkedin For reprint and licensing requests for this article, click here.

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Going Concern

APRIL 7, 2025

billion accounting error, lawmakers are looking to move on from the outside independent auditor who would work with the state auditors office in reviewing the states financial records. billion accounting issue on the states books for years, but no one tried to fix it or figure out the origins of the listing.

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Going Concern

NOVEMBER 1, 2024

Audit Private Equity’s Ties to Companies’ Auditors Have Never Been Closer. accounting firms will have either sold an ownership stake or part of their business to private-equity investors, up from zero in 2020, said Allan Koltin, chief executive at advisory firm Koltin Consulting Group. That Worries Some Regulators.

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Going Concern

APRIL 28, 2025

In addition to the survey results, this article reports the additional resources suggested by faculty to fully adapt their courses and teaching methods to the new CPA exam, including how they believe CPA firms can assist. This could be implemented in numerous ways. That 14% must have a good hookup in India.

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Going Concern

MARCH 28, 2025

Andersen Global partners MMCA & Associates [ International Accounting Bulletin ] Andersen Global has broadened its presence in Canada through a collaboration agreement with MMCA & Associates, a full-service accounting firm. MMCA & Associates is headquartered in Calgary, with offices in Edmonton and Banff.

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Going Concern

JANUARY 31, 2025

Firm Watch Accounting firm taps longtime employee to head up Charlotte office [ Charlotte Business Journal ] RSM US has named a 13-year veteran of the company as the new leader of its Charlotte operations. Moving forward, the New York team will continue to serve its business and tax clients.

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Menzies

MAY 1, 2025

Menzies LLP - A leading chartered accountancy firm. An annual report from an independent external auditor will be required, again similar to the requirements of existing firms applying CASS. As a starting point, this discussion paper was the first to be released from the FCAs Crypto Roadmap.

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Going Concern

JULY 18, 2025

Private Equity Private equity is coming for accounting firms. While they invest money and resources, PE firms look for profits in relatively short timeframes, often achieved through cost-cutting. While they invest money and resources, PE firms look for profits in relatively short timeframes, often achieved through cost-cutting.

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Accounting Today

JULY 10, 2025

accounting watchdog is investigating Deloitte LLPs work on units of Stenn Technologies, the trade-finance firm backed by some of the worlds biggest banks that unraveled last year amid allegations of fictitious transactions. accounting firm Azets Holdings on Stenn Assets UK Ltd. and Stenn International Ltd.

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Going Concern

FEBRUARY 14, 2025

As noted by Bloomberg Law, the group composed of lawyer representing law firms, accounting firms, nonprofits, and private companies has stepped in to assist attorneys and law students find jobs. Accounting Firms Hire Growth Leaders as Dealmaking Shakes Up Industry [ Wall Street Journal ] Forty-nine of the 100 largest U.S.

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Going Concern

FEBRUARY 28, 2025

M&A Baker Tilly to snap up Hayflich CPAs [ International Accounting Bulletin ] Advisory, tax, and assurance firm Baker Tilly has announced its intent for the acquisition of Hayflich CPAs, an accounting firm serving West Virginia, US.

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Going Concern

JULY 7, 2025

Several years of strain within the finance department allow the saga to be traced back to July 25, 2023. Existing legislation prevents Space Force – the main Pentagon arm involved in procuring launch services – from fully recouping indirect costs associated with these launches, auditors found. Read the rest if you’re into it.

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CPA Practice

FEBRUARY 23, 2023

What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Responses were gathered from more than 4,100 accountants and 2,300 auditors.

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Going Concern

MARCH 24, 2023

This article will explore how firms can transform a disengaged team and provide actionable insights firm leaders can set in motion today. Firm Watch Ex-BDO USA Workers Advance Narrowed 401(k) Plan Fee Challenge [ Bloomberg Law ] Former BDO USA LLP employees who accused the accounting firm of mismanaging their $1.2

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Going Concern

JULY 19, 2023

Hong Kong is suffering from “a serious talent shortage” according to an article today in South China Morning Post and The Hong Kong Association of Registered Public Interest Entity Auditors (PIEAA) says accounting firms should start looking overseas. What a novel idea! We should try that here in the US. “It

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CPA Practice

JUNE 27, 2024

By Dr. Sangeeta Chhabra Accounting firms are focusing on the tech stack and missing out on the talent stack. Accounting firms are facing a talent shortage as most accounting professionals are shifting to fields like investment banking, consulting, and information technology.

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CPA Practice

AUGUST 28, 2024

The advent of artificial intelligence and machine learning have also started to have a dramatic impact on the practice of public accounting and business management, and we are continuing to see an increased adoption of practical operational uses for these professionals. AuditFile AI is like the self-driving car of auditing.

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Going Concern

MARCH 31, 2023

Big 4 EY Fails to Reach Deal on Split [ Wall Street Journal ] The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who believe their part of the firm could end up weakened by a deal. People did not enjoy that.

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CPA Practice

APRIL 19, 2023

But to reach those objectives, you need a team, and that’s becoming increasingly difficult to find if you’re hiring accountants. According to Caseware’s 2023 State of Accounting Firms Trend Report , more than 90% of accountants and 95% of auditors find hiring skilled talent challenging.

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CPA Practice

DECEMBER 1, 2023

The Public Company Accounting Oversight Board (PCAOB) has doled out a record $20 million in total fines to audit firms and individual auditors so far in 2023, almost doubling the previous high mark of $11 million set last year. In early 2019, the firm violated the anti-fraud provisions of U.S.

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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. link] — Hester Peirce (@HesterPeirce) July 27, 2023 Pick your sides, people.

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