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PCAOB Gives Chinese Audit Firm the Boot Over Rules Violations

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. First, on multiple occasions, the accounting firm failed to timely report the participants in its issuer audits on PCAOB Form AP, in violation of PCAOB Rule 3211, Auditor Reporting of Certain Audit Participants.

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EY Gets Caught Up in Independence Violations Because Audit Partner Rotation Is For Chumps

Going Concern

Gigantic UK-based energy company Shell announced yesterday it will be updating its 2023 and 2024 Form 20-Fs “due to EY non-compliance with audit partner rotation rules” after EY UK told them they’d discovered a small audit partner rotation issue for those years.

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CPA Firms Are No Longer Full of CPAs

Going Concern

Just weeks after the profession got in a tizzy about private equity-owned firms telling staff to remove CPA from their email signatures and, in some cases, LinkedIn profiles , INSIDE Public Accounting has dropped figures on the average number of staff with CPAs at the hundreds of public accounting firms that report their data to IPA.

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Gen X? Never Heard of Them! Accounting Firms Are Overrun by Millennials and Gen Z

Going Concern

TLDR: Boomer numbers at accounting firms appear to be dwindling, more than half of staff at firms are under 40, Gen X gets ignored as usual as if they don’t exist. Recruiting costs as a percentage of net revenue are less than 1% for firms at all revenue sizes. Sorry, mid-40s to late-50s. You’re used to it.

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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

She wrote that the local firm needed to comply with a set of remedial actions or face suspension, or expulsion, from the global network. ” The new office will employ a team of 15 by the end of the year, with all positions in the Boca office staffed by accounting professionals, Goldberg said.

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Friday Footnotes: CPAs Disappearing From CPA Firms; Grant Thornton Tries to Win Grant Thornton | 7.11.25

Going Concern

Public Accounting Trends Data Reveals The CPA License Is Losing Ground [ INSIDE Public Accounting ] The CPA credential remains a cornerstone of the profession, but new data indicate its prominence is steadily declining. Talent Attention, firms! percent to 48.4 s receiver is suing Ernst & Young LLP for C$1.4

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Nine KPMGs Got Real Sloppy About Reporting How Much Outsourced Work They Were Using

Going Concern

Each of them violated PCAOB Rule 3211 , Auditor Reporting of Certain Audit Participants, by “failing to accurately disclose on PCAOB Form AP the participation in firm audits of other accounting firms, including, among others, component auditors, shared service centers, and critical audit matter hub.”

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