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Friday Footnotes: Higher Salaries Lead to Higher Fees; EY Auditors Quit; Senator Rags on Greedy Accounting Firms | 1.27.23

Going Concern

Collins left the ‘big four’ firm in October 2022. KPMG POISED TO CAPITALIZE ON INCREASED DEMAND FOR OUTSOURCING CORPORATE TAX DEPARTMENTS [ PR Newswire ] ONLY POSTING THIS BECAUSE THE ALL CAPS IS FUNNY. Some of this was later shared with clients and potential clients, according to the board. He did not have a CPA license.

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FASB Took It Easy in 2022

Going Concern

While the PCAOB has been on a mission to scare the pants off of auditors everywhere in the past year with record fines and scary speeches, the Financial Accounting Standards Board took a much more chill approach to 2022. The FASB’s record breaking year for the past two decades took place in 2010 with 29 new standards issued.

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Friday Footnotes: Opinions!; EY’s Blockchain Aspirations; KPMG Junior Reprimanded | 9.30.22

Going Concern

Partners at Deloitte in the UK and Switzerland will receive an average income of more than £1m each for the second year in a row, after the accountancy firm enjoyed another successful year. Firm Watch. Known for their high-end tax services, TPC is especially strong in corporate tax, serving public and private enterprises.

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Monday Morning Accounting News Brief: Capping Busy Season Hours FTW; Open the Books on Audit Firms? | 4.15.24

Going Concern

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. Regulations need to change to match. Right now, they don’t.

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Friday Footnotes: A World Without Accountants; GAO Finds a Big Mistake; ‘Fazbie’ | 8.5.22

Going Concern

Meet the accountants who may become the new power brokers of taxes. [ needs full access to Chinese company audit papers to resolve accounting dispute -watchdog [ Reuters ] The U.S. China authorities have long been reluctant to let overseas regulators inspect local accounting firms, citing national security concerns.

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