Summit CPA

OCTOBER 10, 2024

IRS criminal investigations during the 2023 tax filing year identified potentially $37.1 Information concealed during an audit. It’s stressful enough just going through a tax audit. Do not withhold information from an auditor intentionally. Hiding information from an auditor may create a fraudulent situation.

auditor 93

auditor audit tax return Tax 93

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?

audit 52

audit auditor financial statements Technology 52

Going Concern

NOVEMBER 8, 2024

The report also recommends that these private firms be limited to 400 partners, and that they be prevented from offering both audit and non-audit work – like consulting services – to the same client. However, the town claims it is not able to act on one of the recommendations by auditors. It’s free!

Florida 98

Florida Mississippi audit auditor 98

Going Concern

JULY 11, 2025

billion ($1 billion), alleging the auditor failed to detect fraud and misstatements that contributed to the Toronto private lender’s collapse. The focus of the probe is on the audits conducted between 2017 and 2023, a period during which Deloitte succeeded Azets as the auditor for the 2023 financial year.

cpa firm 58

cpa firm cpas CPA auditor 58

Accounting Today

JUNE 23, 2025

In late 2023, GASB issued Statement 102 , "Certain Risk Disclosures," requiring state and local governments to provide financial statement users with information about specific risks when circumstances make a government vulnerable to a heightened possibility of loss or harm. "The The board has also formed a GAAP Structure Consultative Group.

accounting standards 101

accounting standards Government Technology audit 101

Going Concern

MARCH 19, 2025

All they had to do was nab KPMG Kenya and it would be a true world tour of audit naughtiness. Said the PCAOB in their press release about this 9-way KPMG smackdown: These disclosures are particularly significant in multi-country audits, where it is even more likely that multiple parties worked on an audit. Uganda, you say?

auditor 52

auditor audit accounting firms public accounting 52

Going Concern

OCTOBER 21, 2024

In a matter of weeks, we should be hearing that the Pentagon has failed yet another audit. Defense One argues this is a good thing : Far from a mere compliance exercise, the cultural and technological changes required to pass an audit are the same ones necessary to keep U.S. forces dominant.

Account 58

Account accountant accounted South Dakota 58

Accounting Today

JULY 16, 2025

In 2023, it acquired New York-based Janover ; Bemel, Ross & Avedon LLP , a Los Angeles-based business management firm; and two entertainment-oriented firms , Royalty Compliance Organization, a music rights and royalty auditing firm in St. Louis, and Blue Sky Group, a music business management team in Nashville.

Technology 59

Technology tax preparation audit auditor 59

CPA Practice

OCTOBER 23, 2024

Given the significant changes in the auditing environment since that time, the PCAOB made it a priority to modernize and update those rules. In 2023, only 14 audit firms out of a total of more than 1,600 registered with the PCAOB met the 100-issuer-or-more threshold.

auditor 59

auditor audit financial statements accounting firms 59

Going Concern

MARCH 17, 2025

EY issued an internal control warning on a client : UBS’s auditors have expressed an “adverse opinion” on the bank’s internal controls over its financial reporting for 2024 after it failed to resolve issues related to misstatements inherited from Credit Suisse, the Swiss lender said on Monday.

Oklahoma 71

Oklahoma Account accountant accounted 71

Going Concern

NOVEMBER 4, 2024

This step is an expected development in relation to an investigation the AFP commenced in 2023 into the historical tax matter and individuals who have left our firm,” Burrowes told staff. “We The company reported this in its transparency report for 2023 and 2024. Public trust in the auditing profession is under intense pressure.

Account 105

Account accountant accounted auditor 105

Withum

DECEMBER 16, 2024

On November 27, 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting Improvements to Reportable Segment Disclosures. Effective for fiscal years beginning after December 15, 2023, it applies to public entities, including broker-dealers.

accounting standards 52

accounting standards auditor financial statements audit 52

Going Concern

OCTOBER 14, 2024

Writes Religion Unplugged : Responding to a lawsuit accusing Dallas-based Gateway Church of financial fraud, Gateway Elder Tra Willbanks assured congregants over the weekend that the church has “independently audited financial statements since 2005.” Local news is on it. That financial year runs until the end of June 2025.

Account 58

Account accountant accounted audit 58

Accounting Insight

JANUARY 7, 2025

SaaS solution enables automation of complex lease accounting calculations, ensuring precision and simplification Caseware, a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the acquisition of LeaseJava, a software-as-a-service (SaaS) solution designed and developed by leasing standards experts.

accounting standards 52

accounting standards auditor international accounting standards audit 52

Going Concern

JUNE 30, 2025

Meanwhile, at PwC UK : PwC is planning to cut about 175 junior auditors in the UK and has told other staff that pay rises will be lower this year, as the Big Four firm grapples with tougher market conditions. I think we can safely assume clients aren’t getting a 30% discount.

Account 102

Account accountant accounted Technology 102

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.

Tax 59

Tax tax preparation North Carolina tax return 59

Going Concern

OCTOBER 25, 2024

. — Going Concern (@going_concern) October 23, 2024 Local Potsdam village officials to begin search for new auditing firm [ North Country Now (New York)] The country-wide municipal mess continues… The village [of Potsdam, NY] is looking for a new firm to complete its annual fiscal audit.

accounting and finance 58

accounting and finance audit Florida New York 58

Going Concern

OCTOBER 11, 2024

The move is designed to address the uncertainty, confusion and diversity of practice with respect to the subject, said Mike Glynn, associate director of audit and attest standards and staff liaison for the AICPA’s Accounting & Review Services Committee. As a stablecoin, Tether’s tokens are pegged to the U.S. As of Aug.

audit 58

audit Technology Texas accounting firms 58

Going Concern

FEBRUARY 10, 2025

pic.twitter.com/BuMGHJuKx9 — Jessica Smith, EA , not a CPA (@Taxsavvyjessica) February 9, 2025 Something to chew on as both sides argue about fraud and waste: My dad was an auditor with The Indiana Department of Revenue. He mostly audited businesses mostly. Activity in the sector peaked post-pandemic in 2023 with 160 deals.

Indiana 52

Indiana Tax Account accountant 52

CPA Practice

NOVEMBER 25, 2024

Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche. She is the former Colorado state auditor, having served in that role for 10 years. Prior to becoming a state auditor, Ms.

Wisconsin 52

Wisconsin Colorado auditor Oregon 52

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.

Tax 75

Tax tax preparation income tax Technology 75

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."

Tax 59

Tax Construction Technology tax planning 59

Going Concern

NOVEMBER 25, 2024

KPMG has audited Macy’s since 1988. 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. Caba could not be reached for comment.

Account 52

Account accountant accounted CPA 52

Going Concern

JUNE 16, 2025

Founded in 2023, the company already generates over $300 million in annual revenue and includes more than 20 accounting firms under its umbrella. ” People are poo-pooing David in the replies, reminding him that audit firms can’t be majority owned by outside investors. It’s a modern roll-up play, and Crete’s moving fast.

Account 63

Account accountant accounted Non-Profits 63

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. By Michael Cohn 2h ago Audit IAASB revises auditor fraud standard The International Auditing and Assurance Standards Board has revised its standard on the auditors responsibilities relating to fraud.

Technology 126

Technology audit tax preparation corporation tax 126

Accounting Today

JULY 10, 2025

The Financial Reporting Council is probing several audits carried out by Deloitte and U.K. between 2017 and 2023, according to an emailed statement. We remain committed to the highest standards of audit quality." Donal Griffin and Jonathan Browning Bloomberg News Audit Deloitte U.K. and Stenn International Ltd.

audit 59

audit Technology tax preparation accounting and finance 59

Going Concern

JULY 7, 2025

Several years of strain within the finance department allow the saga to be traced back to July 25, 2023. A recently released audit from the Government Accountability Office found U.S. Columbus got to this point through a years-long ordeal involving business tax issues. Read the rest if you’re into it.

Real Estate 63

Real Estate Account accountant accounted 63

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. Some are even turning away business due to a shortage of staff.

audit 132

audit auditor Account accountant 132

CPA Practice

JANUARY 23, 2023

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

audit 124

audit auditor forensic accounting Technology 124

CPA Practice

SEPTEMBER 12, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss Audit Sight , a technology platform that eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification. My co host and I are so pleased to be with you today as we discuss a new audit platform called Audit Site.

Technology 111

Technology audit auditor general ledger 111

CPA Practice

SEPTEMBER 5, 2024

Keeping up with sales tax changes can be difficult and, even if you’re careful, your business can be selected for a state audit. Just the thought of being selected for a sales tax audit can be intimidating.

audit 115

audit Sales Tax auditor 115

CPA Practice

JULY 11, 2024

a provider of assured integrated reporting, has added the Global Internal Audit Standards to the Workiva platform, making it the first SaaS company to incorporate the newest standards into its suite of GRC (governance, risk, and compliance) solutions. Workiva Inc.,

audit 111

audit auditor Washington Government 111

Going Concern

DECEMBER 21, 2023

Assuming no one but select audit partners actually read this crap, let’s take a look at how auditors should expect increased vigilance in 2024 so everyone can be better informed and stock up on KY. These include prior inspection results and the emerging risks pertaining to a particular audit firm or industry.

auditor 118

auditor audit financial statements 118

Going Concern

NOVEMBER 16, 2023

The Financial Education & Research Foundation (FERF) has released the findings of its 14th Annual Public Company Audit Fee Study , sponsored by Center for Audit Quality. The report is based on responses from 54 financial executives at public companies and an additional survey of 116 audit engagement partners.

audit 118

audit auditor accounting and finance Education 118

Cherry Bekaert

MAY 26, 2023

IT auditors must ensure that organizations have appropriate controls in place to mitigate these risks. IT auditors must ensure that organizations have effective cybersecurity controls in place to prevent and detect cyberattacks. Governing bodies such as the U.S.

Technology 92

Technology audit auditor Legal 92

Going Concern

APRIL 11, 2024

Keeping with a yearly tradition more reliable than the arrival of Santa in the early hours of December 24, Ideagen Audit Analytics has released their annual market share analysis of auditor engagements for public companies. TLDR: EY audits the most biggies…again. This is a 4.9

auditor 104

auditor audit Account accountant 104

CPA Practice

JULY 9, 2023

the developer of the award-winning cloud-based audit automation platform, has announced aquired Advantage Audit from John Wiley & Sons, Inc. Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner.

audit 111

audit auditor Technology financial statements 111