article thumbnail

The Texas Board of Accountancy Slapped EY With a Huge Fine

Going Concern

This time in the form of $3 million payable to the state of Texas. This is the largest administrative penalty the Texas Board has ever assessed against a CPA firm. Earlier: How Exactly Did EY Auditors Cheat on CPE Exams? That’s it. That’s the press release.

Texas 105
article thumbnail

Monday Morning Accounting News Brief: Messing with Texas Costs EY $3 Million; CPA Says Blame Yourself, Not Your CPA | 11.13.23

Going Concern

In case you missed it and weren’t reading accounting news on the weekend which I sincerely hope you weren’t because that makes me sad for you if you were: FORVIS may be announcing a big merger soon. And EY news from elsewhere: the Texas Board of Accountancy has fined EY $3 million for cheating.

Texas 57
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Monday Morning Accounting News Brief: Big 4 Firms Hate Going Concern (Warnings, That Is); Being a Whistleblower Blows | 5.20.24

Going Concern

PwC is facing legal action claiming the accountancy firm is liable for the alleged rape of a graduate employee following after-work drinks. Auditors are required to include a going-concern warning if they believe there is a risk that the company may go bankrupt, rather than making a prediction that it will. TL;DR It’s about time!

audit 101
article thumbnail

Friday Footnotes: EY Can’t Hire Tech; John Doe Sues the PCAOB; Auditors Can’t Find Torpedoes and Missiles | 1.20.03

Going Concern

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 97
article thumbnail

Monday Morning Accounting News Brief: Intern Retention; Accenture Delays Start Dates; Post-Everest EY Exodus? | 4.17.23

Going Concern

The PCAOB wants to dismiss a lawsuit brought by an anonymous auditor who challenged the board‘s “secret” disciplinary proceedings: Among other reasons, the board noted that John Doe‘s Jan. District Court for the Northern District of Texas. or Texas while he was employed at the firm. Here’s some news.

Texas 95
article thumbnail

Accountants Are the Referees of Business, Says Guy Who Would Know

Going Concern

There’s another article about the accountant shortage today and this time it’s in Insider. Kachelmeier has seen accounting majors decline between 20% to 40% over the past few years at his school and like many in the profession he believes that the key to fixing the shortage lies in pitching accounting to young people.

Account 102
article thumbnail

Monday Morning Accounting News Brief: Small Firms Beg For Big 4 Knowledge; FreshBooks Leak; Tech in Lieu of Accountants | 4.10.23

Going Concern

Smaller accounting firms have asked Big 4 to share their expertise [ FT ]: Smaller rivals have called on the UK’s Big Four accounting firms to share their audit expertise and technology, but partners at the big firms say they fear being accused of breaking competition law if they do so. Will technology solve the accountant shortage?