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

Going Concern

MAY 3, 2024

“Borgers and his sham audit mill have been shut down.” ” Fresh off the SEC press release press , the Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F. The SEC did not mince words in this press release.

auditor 115

auditor audit financial statements CPA 115

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

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

Going Concern

JANUARY 27, 2023

Big 4 EY auditors escape potential Wirecard sanctions after leaving profession [ Financial Times ] Germany’s audit watchdog closed investigations against four current and former EY auditors involved in inspecting collapsed payments firm Wirecard after they handed back their professional licences and left the profession earlier this month.

auditor 111

auditor accounting firms Account accountant 111

Going Concern

APRIL 19, 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. The Big Four accounting firm is considering adding about 85 U.S.

cpas 102

cpas accounting firms Account accountant 102

CPA Practice

MAY 6, 2024

However, it didn’t take long for Trump Media, the company behind former President Donald Trump’s Truth Social, to announce its next external auditor. Several media outlets have reported that in an SEC filing on May 3, Trump Media replaced BF Borders with Phoenix-based CPA and consulting firm Semple, Marchal & Cooper.

auditor 64

auditor audit financial statements CPA 64

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.”

audit 119

audit auditor financial statements Education 119

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.

auditor 98

auditor Account accountant accounted 98

CPA Practice

FEBRUARY 6, 2024

Investing in technology is a key priority for accounting firms as they move into 2024, while m itigating the ongoing talent shortage and keeping pace with new laws continue to cause challenges for many within the profession. Caseware explores worldwide perspectives within the accounting and audit professions annually.

accounting firms 64

accounting firms Technology Account accountant 64

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%

Sales 219

Sales Tax Account accountant 219

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

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

CPA Practice

OCTOBER 10, 2023

The demand for skilled tax practitioners in the accounting profession has never been more critical. This surge in demand for CPA services comes at a time when experienced public accountants are exploring alternative career options, and fewer graduates are entering the profession. By Richard Lavina and Ralph Carnicer.

Technology 105

Technology accounting firms Account accountant 105

Going Concern

JULY 31, 2023

Currently KPMG, Deloitte and EY provide both consulting and audit to both the public and private sector. Mr Fels, who has provided evidence to the committee looking into the ethical behaviour the major consultancy firms, said conflict-of-interest concerns about the big four were “a problem of their own making”.

auditor 98

auditor Account accountant accounted 98

CPA Practice

MAY 15, 2024

The technologies used in professional accounting firms continue to evolve and shape how practices function, from client service, to staffing issues, and overall management and growth. Thank you to the more than 5,500 readers who participated in voting this year. Now, on to the results! WINNER: TheTaxBook – Tax Materials Inc.

Technology 69

Technology accounting firms cpas Account 69

ThomsonReuters

APRIL 13, 2023

These two words can strike fear in the hearts of your tax and accounting clients: IRS audit. Understanding how to manage client expectations and concerns and how to get through the process is an essential skill in the tax and accounting professions. Most IRS audits are not random, although that is possible.

audit 52

audit accounting firms Tax Account 52

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.

audit 98

audit auditor accounting firms cpas 98

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.

audit 69

audit auditor accounting firms Account 69

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.

audit 124

audit auditor forensic accounting Technology 124

CPA Practice

FEBRUARY 17, 2023

Thomson Reuters has announced the release of Checkpoint Engage Single Audit, the only web-based application that automates the entire single audit process. accounting firms perform approximately 40,000 single audits for clients who receive federal grants. To learn more, visit Checkpoint Engage Single Audit.

auditor 52

auditor audit accounting firms financial statements 52

Going Concern

JANUARY 12, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. And take our 2024 Predictions for the Accounting Profession survey ! Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Tingo paid $1.6

audit 109

audit auditor Illinois CPA 109

Going Concern

NOVEMBER 27, 2023

Also LOL: Canadian Accountant has their own article on the layoffs : Anxiety over potential layoffs began building earlier this month when some PwC employees received meeting requests (“Important Business Update”) with “relationship leaders” (RLs). The ICAEW answers the question “Why audit?” Kale-Agarwal said.

audit 110

audit Account accountant accounted 110

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

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.

audit 96

audit auditor Education Tax 96

CPA Practice

SEPTEMBER 20, 2023

billion—that was the total audit fees paid by the S&P 500 companies in fiscal year 2022, a record-high amount, according to a recent analysis from Ideagen Audit Analytics. However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S., in the U.S.,

audit 105

audit auditor accounting firms Tax 105

Going Concern

FEBRUARY 8, 2023

As CEO of a staffing firm that connects companies with professionals in Mexico, every day I speak with accounting firms, CFOs and other executives looking to hire accountants and other financial professionals in the U.S. Accounting Talent Crunch? Let’s see what he’s got to say. MX$150,000 is $7,908 USD.

accounting and finance 102

accounting and finance accounting firms Finance Account 102

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.

audit 52

audit auditor cpas financial statements 52

CPA Practice

SEPTEMBER 12, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss Audit Sight , a technology platform that eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification. My co host and I are so pleased to be with you today as we discuss a new audit platform called Audit Site.

audit 111

audit Technology auditor sage accounting 111

MarkFriedlich

MARCH 31, 2020

The value of continuing audit education from the School of Audit During the first few months of each year our lives go on hold as we take care of our clients needs. As auditors, we understand that. However, if you think that your employees are too busy to care about continuing audit education, think again. […].

Education 187

Education audit auditor Tax 187

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?

auditor 59

auditor audit Technology Gaming 59

Accounting Insight

FEBRUARY 6, 2024

Audit firms struggling to build teams with diverse skill sets that can deliver the audit of the future Investing in technology is a key priority for accounting firms as they move into 2024, while mitigating the ongoing talent shortage and keeping pace with new laws continue to cause challenges for many within the profession.

Technology 45

Technology accounting firms audit Account 45

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. But what about the books of the auditor? Right now, they don’t.

audit 64

audit Account accountant accounted 64

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

Going Concern

MARCH 31, 2023

Big 4 EY Fails to Reach Deal on Split [ Wall Street Journal ] The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who believe their part of the firm could end up weakened by a deal. John King and Frank Mahoney, senior U.S.

auditor 105

auditor audit Virginia Technology 105

Going Concern

FEBRUARY 3, 2023

We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. From the report: The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. Shah Dhandharia hardly seems capable of complex audit work. A lot of things.

audit 124

audit auditor accounting firms Government 124

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. Today’s proposal is another key part of our strategic drive to modernize PCAOB standards.”

auditor 52

auditor Technology audit financial statements 52