Going Concern

JULY 31, 2023

r/accounting reacts to KPMG’s summer internship for high schoolers: Staffing shortages at KPMG? The PCAOB’s new rules would widen auditors’ responsibility to scrutinise whether a company is complying with laws and regulations, and to communicate more of their concerns to a company’s board of directors. Such suggestions are false.

auditor 98

auditor Account accountant accounted 98

Shay CPA

AUGUST 23, 2023

” However, when it comes to financial statement audits, the timing isn’t quite as forgiving as planting trees. Understanding the dynamics of your financial health is crucial for early-stage tech companies. One such decision is when to conduct a financial statement audit. The second-best time is now.”

financial statements 52

financial statements audit Technology auditor 52

CPA Practice

APRIL 8, 2024

White, and Amanda Iacone, Bloomberg News (TNS) Donald Trump’s social-media company just became the most valuable publicly traded client of an accounting firm that has more experience auditing companies traded over-the-counter and has had a string of regulatory issues, including a 100% deficiency rate on audits reviewed by a U.S.

audit 111

audit accounting firms auditor Account 111

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.

auditor 145

auditor audit accounting principles financial statements 145

Going Concern

JUNE 13, 2023

Financial Reporting Council chair and stereotypically European named Jan du Plessis has told the Financial Times that audit firms — who regularly complain about the UK audit regulator being up their asses — should pay their junior auditors more. And we have all heard the complaints from junior auditors.

auditor 111

auditor audit financial statements Legal 111

ThomsonReuters

DECEMBER 6, 2022

Today, ESG is resulting in significant opportunities for auditors, fueled by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products. What is ESG accounting? Then there’s the tax implications. What is ESG reporting?

auditor 59

auditor Account accountant accounted 59

Going Concern

AUGUST 12, 2022

note: fans of accounting headlines are encouraged to sign up for our newsletter to get headlines delivered to your inbox twice a week. How to follow up after a job interview [ Journal of Accountancy ] You aced the job interview. What’s next? Here’s how recruiters and career experts recommend that you proceed.

auditor 98

auditor Account accountant accounted 98

SMBAccountant

DECEMBER 21, 2022

Bookkeeping and accounting are often used interchangeably when describing a process of recording financial transactions for a business, but they are not the same functions. Accountants also support management in the implementation and monitoring of internal controls. to review performance and profitability.

bookkeeping 130

bookkeeping managerial accounting Account accountant 130

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 ].

auditor 64

auditor audit accounting firms financial statements 64

CPA Practice

JUNE 27, 2023

A rules proposal issued by the Public Company Accounting Oversight Board (PCAOB) on June 26 addresses aspects of designing and performing audit procedures that involve technology-assisted analysis of information contained in electronic format.

auditor 52

auditor Technology audit financial statements 52

Going Concern

JANUARY 20, 2023

Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves.

auditor 98

auditor Technology audit financial statements 98

Going Concern

FEBRUARY 2, 2023

The firm messed up on one of its nine audits inspected, and it pertained to the financial statement audit only. If you include the last time Cohen & Company auditors screwed up an audit, which was in 2017, that’s two mistakes in the last 43 audits inspected, for a deficiency rate of 4.6%. and in the world.

auditor 59

auditor audit financial statements accounting firms 59

Going Concern

APRIL 7, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Build ChatGPT into Excel [ Journal of Accountancy ] Note that this process currently works in Microsoft Excel 365, Microsoft Excel 365 for Mac, and Excel for the web. I can imagine it.

auditor 105

auditor chartered accountant audit accounting and finance 105

Going Concern

MARCH 24, 2023

Journal of Accountancy ] Pandemic pressures have worn the workforce thin, and the economy is in the thick of rapid, radical change. Many practitioners in public accounting are feeling burned out. Stanton was licensed as a certified public accountant in New York in 1988 and had previously run his own firm. CLA, 8th Largest U.S.

auditor 105

auditor audit Entertainment Real Estate 105

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 91

Oregon Account accountant accounted 91

ThomsonReuters

MAY 16, 2024

The Public Company Accounting Oversight Board (PCAOB) has recently adopted a significant new auditing standard, AS 1000, titled “ General Responsibilities of the Auditor in Conducting an Audit.” AS 1000 updates key auditor responsibilities, emphasizing their role in protecting investor interests with independent reports.

auditor 52

auditor audit financial statements Government 52

FraudFiles

SEPTEMBER 20, 2021

Simply because there is a fraud, a business failure, or a pyramid scheme collapse, the auditors are not necessarily at fault. The auditors may have carried out their professional responsibilities exactly as they should have, but they still did not uncover the fraud. How does a fraud go undetected by auditors?

auditor 52

auditor audit bookkeeping forensic accounting 52

MineralTree

NOVEMBER 2, 2023

Accounts payable is a foundational function that ensures organizations maintain accurate invoices, payments, and vendor relationships, while making bill payments on time. However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges.

accounts payable 81

accounts payable audit AP Automation auditor 81

Going Concern

APRIL 22, 2024

Those of us who’ve worked or even simply seen behind the curtain of audit know the things he points out to be true — assurance is reasonable not absolute , financial statements are the responsibility of management not auditors, “finding fraud” is not the ultimate goal of audits — but do investors?

audit 119

audit auditor financial statements Education 119

CPA Practice

APRIL 7, 2023

Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. By Cameron White. Technology also gives staff real-time access to their data, from anywhere at any time.

accounting firms 139

accounting firms CPA Technology Account 139

CPA Practice

APRIL 3, 2023

Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. By Cameron White. Technology also gives staff real-time access to their data, from anywhere at any time.

accounting firms 135

accounting firms CPA Technology Account 135

Going Concern

APRIL 22, 2024

Thomson Reuters writes about the National Pipeline Advisory Group (NPAG), one of the AICPA’s multi-faceted initiatives to address the accounting talent crisis. The accounting talent pipeline discussion in the press and social media has centered around the idea of modernizing the licensure requirements.

auditor 102

auditor Account accountant accounted 102

SMBAccountant

JULY 14, 2020

One of the most common errors made by executives in a small startup is assuming that the reporting basis for accurate financial statements can be changed by clicking the single button at the top of the QuickBooks report. This is the simplest form as your books match your bank account. Using cash basis accounting, Doe Co.

Government 246

Government accrual accounting quickbooks Account 246

Going Concern

JULY 11, 2023

The Wall Street Journal wrote today about recent disclosures made by Advance Auto Parts, Joby Aviation, and Germany’s Evotec that specifically point to a lack of accounting staff as a contributor to or sole factor causing certain material weaknesses. We have engaged a leading public accounting firm to support this work.

Account 139

Account accountant accounted financial statements 139

Going Concern

MAY 16, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Accountingfly can help! Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 59

Real Estate Account accountant accounted 59

Accounting Insight

MAY 1, 2024

And accounting software is no exception. Before delving into the potential impact of AI in accounting, it’s essential to understand the role AI plays in modern accounting practices. In modern accounting, AI is being used to automate several tasks, including data entry, invoice processing and financial statement analysis.

Account 64

Account accountant accounted bookkeeping 64

FraudFiles

DECEMBER 28, 2020

Often, the blame is cast in the direction of the auditors. The auditors are an easy target. Not only do they usually have professional liability insurance policies to fall back on, the auditors initially seem like the logical culprit. The mistake management makes is in believing that a financial statement audit will find fraud.

auditor 52

auditor audit financial statements accounting system 52

FraudFiles

JANUARY 4, 2021

Even with all the publicity surrounding the issue of financial fraud in the last twenty years, most auditors, investors, and other professionals still do not “get it” when it comes to detecting fraud. Traditional financial statement audits were never designed to detect fraud. Nothing could be further from the truth.

auditor 52

auditor audit financial statements accounting and finance 52

Going Concern

OCTOBER 11, 2022

bank customers — find it difficult to trust auditors when those auditors have been associated with a failed bank. His new article, “The Role of Audit Firms in Spreading Depositor Contagion,” argues that depositors perceive bank failure as an audit failure, which reduces their assessment of auditor credibility.

auditor 52

auditor audit Kentucky Kansas 52

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 104

tax preparation Gambling Account accountant 104

Going Concern

MAY 6, 2024

Borgers with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023. Last weekend’s weekend discussion: It’s Mental Health Awareness Month. We’re aware.

auditor 91

auditor audit Account accountant 91

Cherry Bekaert

MAY 9, 2024

By providing accuracy and remaining compliant, A&E firms can demonstrate their commitment to financial management and reporting, attracting new clients who value these qualities. A: An independent third-party auditor typically conducts an overhead rate audit. Q: Who conducts an overhead rate audit?

audit 115

audit auditor Transportation Government 115

Going Concern

MAY 2, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Accountingfly can help!

Real Estate 59

Real Estate Account accountant accounted 59

CPA Practice

FEBRUARY 23, 2024

Auditors are poised to become crucial facilitators in the accounting and finance function’s adoption of AI and large language models (LLMs). Auditors are the Keystone for AI Integration The successful integration of AI has one essential requirement—a nuanced understanding of the model’s data origins and its interpretations.

audit 114

audit auditor accounting and finance Technology 114

CPA Practice

MAY 3, 2024

By Chris Morris, Fast Company (TNS) The auditor of Donald Trump’s Trump Media has been charged with “massive fraud” by the Securities and Exchange Commission (SEC), which says the company “undermined trust and confidence in our markets.” Both have also been permanently suspended from acting as accountants before the SEC moving forward.

audit 116

audit auditor accounting firms financial statements 116

CPA Practice

APRIL 29, 2024

Calling all public company executives, board members, auditors, financial analysts, and investors: The Public Company Accounting Oversight Board’s Investor Advisory Group (IAG) needs a favor. KAMs are selected from matters communicated with those charged with governance.

auditor 64

auditor audit financial statements Government 64

Going Concern

OCTOBER 14, 2022

List analysis: In fight for talent, nearly all accounting firms allow remote work [ Crain’s Cleveland Business ]. In the war for accounting talent, allowing remote work is table stakes. How to negotiate a job offer [ Journal of Accountancy ]. Accounting firm Benitez & Co.’s Talent and Hiring. ” Firm Watch.

auditor 97

auditor Legal audit South Carolina 97