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EY Gets $3 Million Penalty by Texas Board of Public Accountancy

CPA Practice

The Texas State Board of Public Accountancy approved an Agreed Consent Order assessing a reprimand and a $3,000,000 administrative penalty against Ernst & Young LLP (EY) on November 9, 2023. The penalty was the largest administrative penalty that the Texas Board has ever assessed against a CPA firm.

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Letter to the Editor: Life in Public Accounting Doesn’t Add Up For Young Professionals

Going Concern

note: A reader sent in this thought-provoking essay on their experience as a CPA. In it the author covers their introduction to accounting, the impact the pandemic had on their goals, and the all too familiar feeling of watching your peers make buckets of money in other careers while you grind away in public. I loved the class.

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Wipfli Merges In Michigan CPA Firm Clayton & McKervey

CPA Practice

Top 20 accounting firm Wipfli is combining with Southfield, MI-based CPA firm Clayton & McKervey, effective Sept. Clayton & McKervey is the 259th biggest accounting firm in the U.S. million during its most recent fiscal year, according to INSIDE Public Accounting.

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Pennsylvania Institute of Certified Public Accountants Issues 2023 State of Pennsylvania Public Accounting Firms Study

CPA Practice

The Pennsylvania Institute of Certified Public Accountants , the largest CPA association in Pennsylvania with over 20,000 members, has issued its latest Insights report. The report’s deep dive provides the latest data on compensation across titles, technology adoption, billing model breakdowns, M&A and more.

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CPA Firm Managing Partner Weighs in on How to Rebuild the Talent Pipeline

CPA Practice

How to fix the crumbing talent pipeline in the accounting profession is a topic on the minds of many people these days. And it popped up at a session during the first day of the 2023 Unique CPA Conference, “Bridging the Gap,” in the Chicago suburb of Rosemont, IL, on Tuesday. You don’t have to be a CPA. It’s not glamorous.

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Los Angeles-Based CPA Firm Receives High Praise from Accounting Today

KROST

. – KROST CPAs and Consultants, Los Angeles-based firm, receives two new accolades from Accounting Today , Top 100 Firms, and Fastest-Growing Firms in the U.S. The average firm growth was 7.59%, which KROST surpassed with the highest percent change. 1 in the fastest-growing firms list.

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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. The accounting firm is embroiled in a national scandal over its use of confidential information about proposed tax laws to drum up business. Have a safe Memorial Day.