CPA Practice

FEBRUARY 23, 2023

What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Responses were gathered from more than 4,100 accountants and 2,300 auditors.

audit 132

audit auditor Account accountant 132

Going Concern

OCTOBER 25, 2023

The paper-pushers at the PCAOB have punished another audit firm for running afoul of their rules , this time it’s Smythe of British Columbia, Canada and no one involved in this story is based in the United States except for said paper-pushers. The firm used the work of PwC Malta on the Scully audits, PKF Audisur on Tower One.

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RogerRossmeisl

JUNE 26, 2022

On 6/1/22, the IRS made available an update to the “Cost Segregation Audit Techniques Guide” (Publication 5653). Originally issued in 2004, the purpose of the Audit Techniques Guide (ATG) was to offer guidance to IRS auditors auditing cost segregation studies.

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audit auditor CPA Tax 239

TaxConnex

APRIL 28, 2022

In years past, auditors could show up at your door asking to look at your records. Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office.

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CPA Practice

FEBRUARY 23, 2024

Amid technological advancements, the audit professional’s role, characterized by a deep attention to detail, compliance and risk management, is proving to be vital well outside the traditional confines of finance. Auditors’ proficiency in validating data ensures the reliability and accuracy of financial information. By Nate Varel.

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audit auditor accounting and finance Technology 114

Going Concern

APRIL 11, 2024

Keeping with a yearly tradition more reliable than the arrival of Santa in the early hours of December 24, Ideagen Audit Analytics has released their annual market share analysis of auditor engagements for public companies. TLDR: EY audits the most biggies…again. This is a 4.9

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auditor audit Account accountant 88

Going Concern

APRIL 22, 2024

Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report. Most of the time, auditors can confidently (and legally) shrug their shoulders and say “not my job.”

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CPA Practice

APRIL 29, 2024

The recruitment and hiring landscape for internal audit must evolve to ensure the profession keeps pace with a changing risk environment. According to the report, hiring managers tend to seek recent college graduates who have studied accounting (80%), followed by those from auditing (53%) and business (44%).

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Accounting Today

MARCH 11, 2024

The internal audit function is gaining more people and funding, according to a new survey released Monday during an Institute of Internal Auditors conference in Las Vegas.

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audit auditor Account accountant 114

TaxConnex

FEBRUARY 3, 2022

So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. Many events can ignite a sales tax audit. But have sales tax audits changed over the last few years, through the pandemic and the introduction of economic nexus in 2018?

audit 172

audit Sales Tax auditor 172

Going Concern

JULY 19, 2023

Hong Kong is suffering from “a serious talent shortage” according to an article today in South China Morning Post and The Hong Kong Association of Registered Public Interest Entity Auditors (PIEAA) says accounting firms should start looking overseas. What a novel idea! We should try that here in the US. What a novel idea!

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CPA Practice

MARCH 27, 2024

By Gopal Ratnam, CQ-Roll Call (TNS) The National Telecommunications and Information Administration on Wednesday issued a report calling for establishing a system of audits for artificial intelligence systems that would ensure transparency as well as hold tech companies accountable for potential risks and harms. and Josh Hawley, R-Mo.,

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audit E-commerce Account accountant 85

CPA Practice

MARCH 4, 2024

Auditors, like so many others today, are seizing the opportunity to transform how they work by adopting artificial intelligence. The auditor’s human judgment sits at the center of the process, as they use AI to augment their work and elevate the value they can deliver to their clients. By Richard J.

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auditor audit general ledger Technology 69

Going Concern

JUNE 22, 2022

The PCAOB adopted a new audit standard yesterday (AS 1206, Dividing Responsibility for the Audit With Another Accounting Firm ) to ensure that lead auditors are properly supervising the outside auditors they use. PCAOB Adopts New Requirements for Lead Auditor’s Use of Other Auditors [ PCAOB ].

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Accounting Today

SEPTEMBER 19, 2023

The Public Company Accounting Oversight Board issued a proposal to amend its rule for an individual auditor's or audit firm's contributory liability for knowingly or recklessly contributing to violations.

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auditor audit Account accountant 124

Airbase

JANUARY 31, 2023

Kelly Hicks and Robin Sharma share advice after Airbase successfully completes its first external audit. Few milestones in a company’s lifecycle demand a more focused response from finance and accounting than the first external audit. The lead-up: Choosing auditors and timing. How do you decide what auditor to choose?

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TaxConnex

DECEMBER 23, 2021

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. Sales Tax Audit Triggers.

audit 167

audit Sales Tax auditor 167

Going Concern

NOVEMBER 1, 2023

The press release says: A number of Deloitte auditors in Ontario changed the date and time settings on their computer clocks to manually override controls in Deloitte’s audit software and backdate audit working paper signoffs between November 2016 and May 2018.

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auditor audit CPA Account 138

ThomsonReuters

APRIL 30, 2024

In the world of accounting audits, accuracy and completeness are paramount. Auditors rely on data review to ensure the reliability and integrity of financial statements. The significance of accuracy and completeness in audit data review Accuracy and completeness are fundamental principles in auditing.

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TaxConnex

FEBRUARY 27, 2024

Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant. There were about 1.65 in 2022, up 1.3%

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Sales Tax Account accountant 219

Going Concern

MARCH 15, 2023

While the general investing public is asking “where were the auditors?” To any members of the general investing public reading this: “due professional care” means the independent auditor planned and performed the work required of them according to audit standards. Back to the auditors. billion. .”

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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 92

Going Concern

NOVEMBER 16, 2023

The Financial Education & Research Foundation (FERF) has released the findings of its 14th Annual Public Company Audit Fee Study , sponsored by Center for Audit Quality. The report is based on responses from 54 financial executives at public companies and an additional survey of 116 audit engagement partners.

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CPA Practice

JULY 9, 2023

the developer of the award-winning cloud-based audit automation platform, has announced aquired Advantage Audit from John Wiley & Sons, Inc. Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner.

audit 111

audit auditor Technology financial statements 111

Accounting Today

MARCH 19, 2024

The Public Company Accounting Oversight Board posted a settled disciplinary order Tuesday sanctioning an Israeli auditor and her firm for violating the PCAOB's rules during several audits, imposing a $200,000 penalty.

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audit auditor Account accountant 67

Accounting Insight

AUGUST 3, 2023

ACCA, the COA and the NAAAU sign deal to improve standards, professionalism and education Two Uzbekistan professional bodies and the world’s leading accountancy body are working together to improve accountancy services for the country. The three bodies will also look at working on capacity building projects.

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auditor Account accountant accounted 52

SMBAccountant

AUGUST 4, 2023

Internal audits play a crucial role in the success and sustainability of a company. Conducting regular internal audits helps identify potential risks, improve operational efficiency, and ensure compliance with laws and regulations. Internal audits can be small random audits, or audits of the system as a whole.

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CPA Practice

APRIL 25, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, look at AssurancePrep , a practice management resource system for audit firms. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab sponsored by CPA practice advisor, with your hosts, Randy Johnston, and Brian Tankersley. Randy, what kinds of audit?

Technology 111

Technology audit Account accountant 111

ThomsonReuters

JUNE 15, 2023

Increased focus on ESG There are a number of issues and challenges around ESG that tax and accounting firms need to consider. How is the growing focus on ESG affecting the audit profession? Auditors are having to expand the scope of their work as ESG is increasingly under the scrutiny of stakeholders and investors.

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CPA Practice

APRIL 22, 2024

The 10 accounting firms that had the most public company audit clients in 2023 are the same 10 firms atop the table in auditor market share so far in 2024, with EY leading the way as of Jan. But the Big Four firm’s roster of public company audit clients has shrunk from 1,004 last year. EY: 971 (14.7%) 2.

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audit auditor accounting firms Account 69

ThomsonReuters

DECEMBER 8, 2023

Jump to: How AI is transforming audit AI-Assisted Decision Making in Thomson Reuters Cloud Audit Suite Ready to transform audit? How AI is transforming audit Traditionally, auditors have heavily relied on manual processes to uncover risk in financial statements and business operations.

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ThomsonReuters

JANUARY 3, 2023

Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?

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Accounting Today

DECEMBER 7, 2023

The Securities and Exchange Commission's chief accountant cautioned auditors and public companies about the statement of cash flows after spotting problems that could lead to a financial restatement.

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Going Concern

APRIL 8, 2024

The Association of Chartered Certified Accountants (ACCA) recently published some results from a survey of more than 6,500 finance professionals , the bulk of them auditors, from 150 countries and while the entire thing is packed with fascinating (if predictable) results, two areas in particular are crying out to be highlighted.

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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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ThomsonReuters

MARCH 20, 2024

When it comes to Single Audits of local governments, nonprofits, school districts, and HUD engagements, auditors must navigate through a complex set of rules that are constantly changing. These challenges compound quickly as the volume of audits increases. However, there is an answer: audit automation.

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CPA Practice

JANUARY 23, 2023

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

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