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PCAOB Replaces Old Quality Control Rules With a New Standard

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) has overhauled its decades-old quality control requirements for audit firms by adopting a new standard on May 13 designed to put the onus squarely on auditors and executives. Firms themselves have also changed significantly, as has the role of firm networks.

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Five Ways to Secure Millennial and Gen Z Accounting Talent

CPA Practice

A global accounting industry survey of more than 6,000 accountants and auditors conducted earlier this year revealed the No. Like most sectors, the accounting industry is feeling the effects of the shift in the labor market as workers quit their jobs in search of better roles and greater job satisfaction. The result?

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Friday Footnotes: The ERC Problem; EY Double Dips; Stress Less in Public Accounting | 5.26.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Although the public health emergency is over, taxpayers can continue to apply for the tax credit until 2025. Have a safe Memorial Day. Big four consultancies win $1.4 million over a decade.

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Friday Footnotes: Firms Get a Jump on Hiring; RTO Firms Outsourcing ?; BDO Settles 401(k) Suit | 12.22.23

Going Concern

Barring any huge incident like an accounting firm getting raided by the FBI on Christmas Day, there will not be any breaking news. Talent The Race Is On to Hire Interns for 2025. One key reason: PwC is trying to compete for top talent amid a dwindling number of accounting majors. Don’t hesitate to reach out.

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Now the Profession Is Losing Experienced Accountants Too

Going Concern

Here we are again talking about the accountant shortage. Mark Maurer at Wall Street Journal wrote today about a young man named Omer Khokhar who realized after six years in accounting that he was done. The article title: “Job Security Isn’t Enough to Keep Many Accountants From Quitting.” ” Ruh-oh.

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AuditFile Partners with AuditClub for Audit Efficiency and Quality

CPA Practice

AuditClub, the Audit Service Center, and AuditFile, developer of the award-winning cloud-based audit automation platform, will collaborate to combine audit technology with fractional auditors to ease the challenges faced by CPA firms and internal audit teams in performing audits and reviews.

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AuditClub Announces New Quality Management Subscription

CPA Practice

AuditClub, the Audit Service Center and creator of the auditors-as-a-service model, has announced new solutions to help accounting firms succeed in navigating and implementing the AICPA’s new quality management standards. AuditClub Compass gives firms a road map for the journey to audit quality compliance with the new standards.

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