Going Concern

OCTOBER 2, 2023

Here’s what happened: Ontario public accounting licensing body CPA Ontario reached an out-of-court settlement with Marcum LLP resolving allegations of multiple instances of US Marcum partners performing work in Ontario — including issuer audits — without said partners being licensed to practice in the province.

audit 114

audit public accounting CPA financial statements 114

Going Concern

JANUARY 8, 2024

Hey remember the Bloomberg story last March about how staff shortages at audit firms were causing municipal credit ratings to tank ? Refresher: Municipalities across the US are at risk of having their credit ratings downgraded or withdrawn by S&P Global Ratings because staffing shortages have delayed financial disclosure documents.

Wyoming 124

Wyoming audit Government Montana 124

Going Concern

NOVEMBER 14, 2023

The PCAOB today announced settled disciplinary orders sanctioning Greece-based PricewaterhouseCoopers Auditing Company SA (PwC Greece) and its partner Nicos George Komodromos for violations of PCAOB rules and standards in connection with the audit of the 2016 financial statements of Aegean Marine Petroleum Network Inc.

audit 107

audit financial statements auditor accounting and finance 107

MyIRSRelief

JULY 3, 2023

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit.

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audit North Carolina Oklahoma Ohio 130

CPA Practice

MAY 10, 2023

The head of the Public Company Accounting Oversight Board (PCAOB) said today that its inspectors found significant deficiencies in the audits of U.S.-listed could have levied trading bans on and delisted these firms by early 2024, as per the Holding Foreign Companies Accountable Act (HFCAA), which became law on Dec.

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audit auditor financial statements public accounting 111

CPA Practice

MARCH 21, 2024

The Public Company Accounting Oversight Board (PCAOB) doled out a total of $150,000 in fines to three partners at KPMG in China for turning a blind eye to U.S. auditing standards. audit regulator. Specifically, they didn’t appropriately evaluate the reasonableness of Tarena’s allowance for doubtful accounts.

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audit public accounting financial statements Education 52

Going Concern

APRIL 15, 2024

In response, the Public Company Accounting Oversight Board has drafted a rule that the accounting firms can have public trust or private financials—but they can’t have both. Public accounting firms operate in a unique space in our society. Regulations need to change to match. Right now, they don’t.

audit 64

audit Account accountant accounted 64

Going Concern

SEPTEMBER 20, 2023

note: This post brought to you by the Big Government Auditing lobby. When you hear “government auditing,” do you picture dull offices with fluorescent lighting, stacks of paper taller than you, and people who still think fax machines are the pinnacle of technology? Enter the world of government auditing.

Government 124

Government audit CPA auditor 124

Going Concern

APRIL 16, 2024

See: Trump Media’s accounting firm has a 100% deficiency rate from U.S. audit watchdog and counts Lingerie Fighting Championships as a client [ Fortune ] OK, actually that’s the only funny headline we’ve seen. For example, during the year, there was one engagement partner who was responsible for 147 issuer audits.

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auditor audit public accounting Colorado 99

CPA Practice

AUGUST 15, 2023

The Public Company Accounting Oversight Board (PCAOB) has not been in a jovial mood lately. Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug.

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audit auditor accounting firms cpas 98

CPA Practice

APRIL 10, 2024

The Public Company Accounting Oversight Board (PCAOB) issued a pair of proposals on April 9, one of which would require audit firms to publicly disclose several metrics —including the involvement of partners and managers on an audit, auditor workload, and auditor turnover—on a new form that would be accessible to investors.

audit 52

audit auditor public accounting accounting firms 52

Going Concern

MAY 12, 2022

Given the two-year in-person hiatus we’ve all just been through , even first-year seniors don’t know how to approach audit room protocols. So h ere are some key rules you should follow in the audit room whenever you do go back : Rule #1: Answer personal calls AFTER you are all the way out of the room. Happy auditing!

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audit auditor public accounting accounting and finance 89

CPA Practice

MAY 6, 2024

Trump Media said the decision to change independent registered public accounting firms was made with the recommendation and approval of its audit committee, Quartz reported on Monday. Semple, Marchal & Cooper hasn’t publicly commented on taking over auditing duties for Trump Media. markets regulator.

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auditor audit financial statements CPA 97

Going Concern

MAY 13, 2024

AT&T is coming for your recruits : AT&T Woos Accounting Students, Bypasses Big Four Training Ground AT&T Inc.’s ’s top accountant is confronting a competitive job market by rethinking the company’s traditional reliance on large CPA firms as a training ground for new hires, taking her recruiting pitch on-campus instead.

Oregon 79

Oregon Account accountant accounted 79

Withum

DECEMBER 12, 2023

Now, regulations, investors and other stakeholders want companies to prove their ESG and climate information is accurate and reliable through audits and assurance. This experience puts them at the top of most companies’ list when considering a firm to perform the third-party audit of their ESG and climate reporting.

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audit cpas Account accountant 59

Going Concern

SEPTEMBER 30, 2022

auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation. auditing requirements in its component audits of U.S. issuers and its audits of foreign companies listed on U.S.

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audit auditor financial statements public accounting 105

CPA Practice

JANUARY 2, 2024

PKF Mueller Joins Cherry Bekaert to Expand Chicago Market Reach Cherry Bekaery, an assurance, tax and advisory firm, recently completed an acquisition transaction with PKF Mueller , a full-service certified public accounting and business advisory firm located in the metropolitan Chicago area.

Illinois 114

Illinois Pharmaceutical E-commerce audit 114

Going Concern

JUNE 29, 2022

The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year , a period in which the number of companies going public was minuscule compared to Q1 of 2021. Marcum and Withum combined audited 49.3%

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audit auditor New York financial statements 103

Withum

JULY 12, 2023

Whatever the case may be, you may need an audit of your financial statements. If you have been tasked to communicate with the auditors, you are aware of the many emails, phone calls, and documents that flow back and forth from the beginning to the end of the audit. This includes overseeing the financial reporting process.

audit 52

audit auditor Real Estate financial statements 52

Going Concern

JULY 31, 2023

Currently KPMG, Deloitte and EY provide both consulting and audit to both the public and private sector. Originally they were just audit firms,” he said. Then the audit firms decided to create this problem by going off and doing their own consulting and the whole thing’s got out of hand.”

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auditor Account accountant accounted 95

Anders CPA

JANUARY 8, 2024

Jeanne Dee, CPA/CGMA, audit and assurance partner at Anders CPAs + Advisors (Anders), has been appointed to the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) effective January 1, 2024. in Accounting from the University of Missouri – St. She holds a B.S.

Missouri 98

Missouri audit accounting principles accounting standards 98

Going Concern

SEPTEMBER 25, 2023

It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. Twice-Convicted Accountant Is Charged With Embezzling More Than $1.1 Palos Hills Accountant Indicted In $7.8M This stock photo is incredible.

tax preparation 97

tax preparation Gambling Account accountant 97

Going Concern

DECEMBER 8, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Peak W-2: What’s It Take to Be the Accountant to the Stars?

cpas 106

cpas Account accountant accounted 106

Going Concern

JANUARY 26, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. company, in a process riddled with conflicts of interest. AI Is your firm keeping pace?

Account 118

Account accountant accounted audit 118

Going Concern

SEPTEMBER 22, 2023

In these roles, he provides financial leadership in support of Virginia Tech’s mission and serves as a trusted, collaborative resource for university leadership. Summing up Sid: The ultimate CPA and friend to all [ Journal of Accountancy podcast ] Plenty of CPAs can say they learned something from Sid Kess, who died last week at age 97.

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audit accounting and finance Virginia auditor 92

CPA Practice

OCTOBER 31, 2023

Usage of the Dynamic Audit Solution continues to grow at a strong pace, with firms having created over 1,000 engagements on the fully integrated, cloud-based solution from the AICPA, CPA.com and Caseware since it launched commercially this past summer. We’re really excited about how that’s going to impact our audit practice.”

audit 40

audit auditor Technology financial statements 40

Withum

SEPTEMBER 8, 2022

Audited financial statements are a cornerstone of the financial markets. Tonight I will conduct my second Auditing class session of this semester at Fairleigh Dickinson University, and I will be teaching what the auditor’s opinion means and what auditors do to arrive at their opinion.

accounting principles 119

accounting principles auditor audit financial statements 119

Withum

FEBRUARY 23, 2022

The AICPA Statement on Auditing Standards (SAS) No. The Standard was originally effective for audits of employee benefit plan (EBP) financial statements subject to the ERISA for periods ending on or after December 15, 2020, but was delayed one year to December 15, 2021 due to the COVID-19 pandemic.

audit 84

audit auditor financial statements public accounting 84

Going Concern

APRIL 22, 2024

Then, its top brass were tearing themselves apart over the demise of Project Everest, the code name given to the firm’s ambitious plan to split its vast consulting and auditing practices. The accounting talent pipeline discussion in the press and social media has centered around the idea of modernizing the licensure requirements.

auditor 92

auditor Account accountant accounted 92

Going Concern

MAY 6, 2022

Audit rooms come in all shapes and sizes—usually small, often windowless, sometimes with chairs you can actually sit on, and almost always as far away from the finance/accounting department as possible. After eight years in public accounting, I have loads of unforgettable audit room experiences. The b oardroom.

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audit public accounting auditor Utah 64

Going Concern

SEPTEMBER 25, 2023

Rendon, the court of appeal reviewed the enforceability of the noncompete and nonsolicitation provisions in Anaheim-based accounting firm Frazer, LLP’s partnership agreement. I’m just seeing a black screen” said Michael Chandler, Chief Project Manager at GWC accounting. Frazer served clients throughout California and elsewhere.

Account 64

Account accountant accounted audit 64

Going Concern

DECEMBER 11, 2023

Business travel remains PwC UK’s single-largest source of carbon pollution, with flying accounting for more than two-thirds of the firm’s emissions in 2022. Mandatory audits don’t provide protection the entities mandated them think they do according to new research. Navarro-Velez joined the department at UNLV in 2019.

auditor 103

auditor Account accountant accounted 103

Going Concern

NOVEMBER 30, 2023

The respective orders for your viewing pleasure PDF alert PricewaterhouseCoopers Zhong Tian, LLP (“PwC China”) Hong Kong-based PricewaterhouseCoopers (“PwC Hong Kong”) Shandong Haoxin Certified Public Accountants Co., auditing curriculum. Haoxin violated the U.S. Haoxin violated the U.S.

audit 64

audit auditor public accounting financial statements 64

Going Concern

MARCH 1, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. This is an accounting trick.

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audit Nebraska auditor chartered accountant 108

Withum

MAY 15, 2024

If you sponsor a 401(k) plan with a December year-end, it is important to remember that your Form 5500 and audited financial statements, if required, are due July 31 with the option to file an extension, allowing an additional 2 ½ months to file. The DOL expects this change to reduce the number of audits by 20,000 annually.

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audit financial statements tax return corporation tax 52

Going Concern

OCTOBER 11, 2022

These businesses have their financial advisory needs served by hundreds of thousands of small firm accountants and CPAs nationwide. Small business has unique needs for accounting services: primarily tax and advising, and secondarily day-to-day accounting needs to act as de-facto controllers and decision makers.

Education 90

Education Account accountant accounted 90

CPA Practice

AUGUST 30, 2023

How to fix the crumbing talent pipeline in the accounting profession is a topic on the minds of many people these days. Jackie Cardello During the panel discussion, “Accounting Across Generations: Assessing the Current State of the Industry,” the question, “What do we have to change to rebuild the talent pipeline in the accounting profession?”

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cpa firm CPA cpas Maryland 105