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.

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Withum

DECEMBER 12, 2023

Now, regulations, investors and other stakeholders want companies to prove their ESG and climate information is accurate and reliable through audits and assurance. This experience puts them at the top of most companies’ list when considering a firm to perform the third-party audit of their ESG and climate reporting.

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CPA Practice

AUGUST 9, 2023

AuditClub, the Audit Service Center for CPA firms and companies, has launched a new alliance model designed to connect tax and non-attest accountants with AuditClub One assurance professionals to improve service delivery options to clients. “In

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Going Concern

MAY 13, 2024

Sabrina Sanders, AT&T’s chief accounting officer, is targeting graduate students for the company’s two-year-old, in-house training program. We have further clarified that this responsibility provides the foundation for an objective and independent audit. PCAOB Chair Erica Y.

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Ryan Lazanis

AUGUST 2, 2023

In this article, you’re going to get a ton of inspiration plus a whole bunch of tips for picking amazing accounting firm names. Table of Contents How to Choose a CPA Firm Name? Choosing an accounting firm name is all about branding and how you want the outside world to perceive you.

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Going Concern

MARCH 11, 2024

We’ll be doing an article shortly, in the meantime here are some quotes from INSIDE Public Accounting : Bob Cedergren, MNCPA board chair added, “I can tell you from my own experience, through conversations with colleagues throughout the country and the members of the MNCPA, that we have a significant shortage of CPAs.

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Going Concern

MAY 19, 2023

Special Report: KPMG Canada beats Big Four accounting rivals in net new client gains [ Canadian Accountant ] For the second year in a row, KPMG Canada has surpassed its Big Four rivals in net new audit client gains, helping to offset the loss of a controversial company as an audit client. or Singapore.

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Going Concern

NOVEMBER 11, 2022

There’s definitely an accountant shortage out there’: MBAs have become the go-to degree and companies are struggling to hire enough CPAs [ Fortune ]. The Big Four accounting firms are even reaching out to high school students to share that message and creating more flexible work environments, Lansford says.

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Going Concern

APRIL 7, 2023

[ Wall Street Journal ] A tap story from WSJ says accountants and writers are among the jobs that could be most affected by AI tools (*gulp*) Big 4 March people moves: KPMG, Deloitte, PwC make senior hires [ AccountancyAge ] Musical chairs across the pond. ’s accounts drew scrutiny from regulators, the firm’s plan to secure a U.K.

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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. despite having more than double the population, has just over 665,000 actively licensed CPAs.

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CPA Practice

APRIL 12, 2023

By Blake Oliver, CPA, and Chris Vanover, CPA. CPAs have always been passionate about numbers, using various metrics such as revenue, profit, headcount and realization to measure success. However, this focus on numerical indicators is contributing to the decline of the CPA profession itself. Senior associates work 256.

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Going Concern

SEPTEMBER 1, 2022

The numbers don’t lie: of 658,267 actively licensed CPAs in 53 of the 55 licensing jurisdictions, less than 1% are Black (2020 data), a number that has remained largely unchanged in 40 years. It wasn’t until 2015 that a woman became CEO of a Big 4 accounting firm for the first time. Accounting is miserable.

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Going Concern

APRIL 15, 2022

There is another way of putting this: Accounting is a profession whose brand has not been diluted. For example, the AICPA’s idea of expanding its membership by opening the certified in financial forensics (CFF) certification to non-CPAs runs counter to the exclusivity of the CPA brand. Top Audit Firms in Crosshairs as U.K.

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Going Concern

SEPTEMBER 22, 2023

Mendlowitz establishes scholarship at Baruch [ Accounting Today ] Ed Mendlowitz, an emeritus partner at Top 100 Firm Withum and widely respected figure in the accounting profession, has established the Mendlowitz Family Scholarship at Baruch College. Both Mendlowitz and his father, also a CPA, attended the CUNY school.

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Going Concern

AUGUST 12, 2022

Hold Auditors Accountable for Complicity in Corporate Fraud [ Bloomberg Tax ] Unfortunately, since the fall of Arthur Anderson in the wake of the Enron scandal, the SEC and PCAOB have often failed to go after auditors playing fast and loose with the rules. PwC fined nearly £1.8m Cordes, EA (@cordes_tax) August 11, 2022.

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Going Concern

SEPTEMBER 29, 2023

From the SEC : The Securities and Exchange Commission today announced charges against accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs LLP, (together, Prager) for violating auditor independence rules and for aiding and abetting their clients’ violations of federal securities laws.

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Going Concern

MARCH 22, 2024

Day will join the FASB from Ernst & Young LLP (EY), the global accounting and professional services firm, where he is a partner working in Professional Practice. Mr. Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St. Louis, Missouri.

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CPA Practice

SEPTEMBER 28, 2023

The American Institute of CPAs has released a new practice aid to help accounting professionals create a system of quality management (QM) for their firm’s accounting and auditing practice. The document is available in versions for sole practitioners and for small- and medium-sized firms.

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Going Concern

NOVEMBER 24, 2023

KPMG extends pay freeze to 12,000 UK staff [ Financial Times ] Bosses at the Big Four accountancy firm told staff across its four divisions in recent weeks that they would not receive a pay rise this year unless they were promoted, according to people familiar with the matter.

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Going Concern

SEPTEMBER 29, 2023

by u/Altruistic-Bee-6372 in CPA Office Space PwC looks to exit Downtown for office in West San Jose [ The Real Deal ] Downtown San Jose has one more business casualty that could head west: PwC. The accounting and advisory firm in an email said it plans to move its office from One Cleveland Center (1375 E.

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CPA Practice

MARCH 21, 2023

AuditClub, a collaborative “Audit Service Center” for CPA firms and companies, has introduced AuditClub One, a in order to address the talent exodus and pipeline problems prevailing throughout the profession. AuditClub provides CPA firms and companies convenient access to its talented U.S.-based

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Going Concern

MAY 5, 2022

Alternate title: If You Are an Accounting Student, Expect to End Up In Audit When You Graduate. Supply shortages include CPAs but the accounting pipeline problem as it’s called didn’t happen because of or due to the pandemic. It’s been happening for years. Building relationships with academics.

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Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? This is your weekly reminder that Accountingfly has loads of accounting talent ready to get to work for you.

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Going Concern

DECEMBER 5, 2022

In an article for CoinDesk , Francine McKenna took a crack at why the FTX debacle happened, and like she always does when there ’s really bad accounting at a company going through a financial crisis, who are/were the auditors: It’s not clear why FTX commissioned two different audit firms to audit its 2020 and 2021 financial statements.

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ThomsonReuters

JUNE 28, 2023

If you’re a tax firm leader looking to differentiate yourself from the competition, providing your clients with insight into their ESG data is a great way to set your firm apart. Let’s take a look at some best practices accounting firms can use to help clients overcome the challenges of ESG data collection and management.

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ThomsonReuters

JANUARY 12, 2023

Amidst a complex audit environment, today’s accountants have many opportunities to take advantage of technology and specialize in up-and-coming focus areas. One of these specialties is ESG audits. . What is an ESG audit? Like any audit, ESG audits can be internal or external. Who performs an ESG audit?

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Going Concern

JULY 5, 2022

Interesting piece over at the Wall Street Journal this morning about environmental disclosures or, more significantly, who gets to charge clients for auditing this data under SEC climate disclosure rules proposed in March. Only certified public accountants can audit public companies’ financial statements, per U.S.

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Going Concern

MAY 5, 2023

Entry-level CPAs in advisory practices are making $11,000 more than CPAs starting out in audit and tax, and $20,000 more than non-CPAs in advisory. Entry-level CPAs in advisory practices are making $11,000 more than CPAs starting out in audit and tax, and $20,000 more than non-CPAs in advisory.

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Going Concern

FEBRUARY 12, 2024

With young people opting for higher-paying fields out of college, Gonzalez said that lots of accounting firms just can’t take on a lot of new business. How did one American firm gain 20 net new auditor engagements? And how did another American firm earn more than six million dollars in net new audit fees?

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CPA Practice

NOVEMBER 13, 2023

Top 50 accounting firm Cohen & Co. will be entering the Buffalo market when a deal to acquire Szymkowiak & Associates CPAs and its sister firm PEAR Consultants closes next month. That transaction added 40 team members focused on investment industry audit and tax. after the deal becomes final.

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Going Concern

FEBRUARY 3, 2023

Big 4 EY considers handing retired US partners cut of proceeds from spin-off [ Financial Times ] EY has told retired US partners it is considering giving them a cut of the proceeds from a spin-off of its consulting arm, after complaints that the firm’s leadership is cashing in on a business built by previous generations. Ha ha,” he chuckles.

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CPA Practice

MAY 18, 2023

One of the biggest questions currently being asked by many throughout the accounting profession is, “How can we make accounting more appealing to students?” There’s plenty of accounting jobs out there that need to be filled— more than 300,000 accountants and auditors have left the profession in the past few years.

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Going Concern

JANUARY 29, 2024

In the column he referenced this ancient document (August 1993) entitled “The case for non-CPA owners in CPA firms.” Do firms want non-CPAs to be part of the ownership ranks, or is this strictly a rhetorical question? Tupperware hired the Big Four auditor on Jan. Let’s read a little bit.

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CPA Practice

APRIL 11, 2023

Brian Yujuico has been named vice president and senior chief auditor at AuditClub, the Audit Service Center and creator of the innovative auditors-as-a-service model. In this newly created role, Yujuico, a Certified Public Accountant, will oversee day-to-day activities of the growing team of chief auditors, crew and cadets.

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Going Concern

NOVEMBER 25, 2022

From the earliest days of Going Concern until most recently last month , quality control has been a problematic thing for audit firms. SKP also failed to obtain engagement quality reviews of issuer audits for multiple years and to timely or accurately file with the PCAOB required annual reports and audit participant reports.

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Going Concern

APRIL 29, 2022

4 Ways CPAs Can Explain the Tax Benefits of Direct Indexing to Clients [ Parametric ] Let’s unpack what CPAs should know about direct indexing from a tax perspective—and explore some unique and effective methods for explaining it to your clients. Less work for EY auditors? Ernst & Young Hit With U.K.

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Going Concern

MARCH 4, 2022

Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine. Antar (@SamAntar) March 4, 2022.

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