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.

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auditor audit financial statements Legal 111

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.

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auditor audit financial statements CPA 112

Cherry Bekaert

MAY 9, 2024

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. Q: What is an overhead rate audit? Q: What are the benefits of an overhead rate audit?

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audit auditor Transportation Government 115

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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auditor audit accounting firms public accounting 99

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

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.

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audit auditor Account accountant 132

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 246

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 92

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

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. 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.

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auditor audit financial statements CPA 64

CPA Practice

MAY 14, 2024

The Public Company Accounting Oversight Board (PCAOB) approved a sweeping new standard on the general responsibilities of an auditor on May 13, including a provision that significantly cuts the maximum time period for the auditor to assemble a complete and final set of audit documentation from 45 days to 14 days.

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auditor audit financial statements Legal 59

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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audit auditor financial statements Education 115

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

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?

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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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auditor Account accountant accounted 98

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 109

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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auditor audit accounting firms financial statements 64

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

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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audit auditor Spend Management Platform accounting and finance 130

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 118

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.

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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

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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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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auditor audit Technology 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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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

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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audit auditor accounting and finance Education 114

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.

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audit auditor Technology financial statements 111

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.

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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

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 65

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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audit auditor Education Tax 96

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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auditor audit Technology Gaming 59

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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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?

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