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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. FT said EY’s fee for 2024 alone was $66 million.

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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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CPE Webcast Dec. 5 – Struggling with Workflow Chaos? Discover How Identifying Your Offerings Changes Everything!

CPA Practice

This webinar will be held on Thursday, December 5, 2024 at 1:00pm ET Sponsor: Canopy Software Duration: 1 Hour Register Now Join us for an insightful webinar designed to help accounting firms transform their workflows by first identifying and understanding their core and additional services. Learn more at [link].

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Professionals on the Move – Nov. 2024

CPA Practice

CohnReznick’s McCafferty selected to MACPA’s 2024 Women to Watch CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, announced that Molly McCafferty, Partner, Assurance, has been selected as one of four 2024 Women to Watch by the Maryland Association of CPA’s (MACPA) Foundation.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below.

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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. See if you agree: Employees aged 60 and older account for 11% of staff across all revenue bands, down from 12% last year. 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. It’s free!

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