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

Going Concern

Instead, it has become a magnet for fraud, creating a cottage industry of firms that market themselves as tax credit specialists who can help clients — even those who don’t actually qualify for the money — reap huge refunds from the I.R.S. Deloitte is set to act as the mining company’s independent registered public accounting firm for 2023.

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FICPA & Nova Southeastern University Introduce Cost-Free, Fifth-Year “Bridge to CPA” Program

CPA Practice

The Florida Institute of Public Accountants (FICPA), Nova Southeastern University (NSU) and three South Florida accounting firms – Berkowitz Pollack Brant, Kaufman Rossin and PAAST – have launched a new partnership that will assist future certified public accountants (CPAs) on their path to licensure.

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The Essentials of Beneficial Ownership Reporting

Withum

Entities created before January 1, 2024 have until January 1, 2025, to file the report. Entities created on or after January 1, 2024 and before January 1, 2025 have 90 days after creation or registration to file a report (note the 90-day period replaces a 30-day period and was finalized on November 29, 2023).

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State CPA Society News & Updates – June 2023

CPA Practice

The Delaware Society of Certified Public Accountants (DSCPA) is offering the Delaware Ethics for CPAs course. The course is designed for Delaware professional accountants and is $149 for DSCPA members and $209 for non-member. Check out DSCPA.org for more information or to register online.

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Unveiling the new PCAOB standard QC 1000: A leap towards enhanced audit quality

ThomsonReuters

Here, we delve into the intricacies of QC 1000, exploring its implications for registered public accounting firms and the broader auditing environment. By compelling firms to adopt a more structured and risk-oriented approach to quality control, the standard is expected to significantly elevate the quality of audits.

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KPMG’s New Metaverse Space is Like the First-Person Shooters You Played in 1999 But Worse

Going Concern

Here’s a 2008 Journal of Accountancy write-up : Second Life is a virtual world with education, public relations, and economic implications. CPA Island is the center of the public accounting profession in Second Life. All these years later, a small handful of accounting firms are taking the leap into the metaverse.

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Everything You Need to Know About Beneficial Ownership Reporting

Withum

Entities created in 2024 have until January 1, 2025, to file the report. Yes, there are 23 exemptions from the reporting requirement, including the following: Inactive entities owned by U.S. 5 & FAQ J.1. When is reporting required? Reporting starts January 1, 2024, and nothing can be filed before that date.

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