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The value of audit certification and what it means for tax firms

ThomsonReuters

Driven by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products, companies are increasingly setting their sights on ESG-related initiatives, such as audit certification. In fact, an article by global management consulting firm McKinsey and Co.,

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Friday Footnotes: For the Last Time, Salaries Are Too Low; NOCLAR Is Back; Big 4 Beat Up Again | 3.1.24

Going Concern

Meanwhile, the audit side is under increased regulatory pressure because of perceived lapses in audit quality at accounting firms of all sizes. Last year, the median salary for full-time entry-level accounting jobs was roughly $62,500, up from about $50,000 in 2020, according to Handshake data. This might be good.

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Friday Footnotes: Eff You, Pay Me; KPMG is Reading Your Thoughts; EY Adds Meme Coins to Blockchain Tech | 2.24.23

Going Concern

Talent The new math in recruiting at accounting firms [ Puget Sound Business Journal ] You have to scroll way too far down in this article to see a mention of salary. It’s part of a larger trend of accounting firms trying to find young talent as the industry wrestles with staffing shortages.

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Friday Footnotes: How EY Fights Poaching; Lack of Staff Is Closing Doors; Accounting to Biglaw? | 11.25.22

Going Concern

FRC to fine Deloitte £440k over 2018 audit [ Accountancy Today ]. According to the FRC, it found serious failings in the reviewed audit, which demonstrated a “significant departure from the standards expected of a registered auditor”. KPMG Australia appoints first-ever head of metaverse future [ Accounting Today ].

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Friday Footnotes: Deloitte Partner Scammed By Other Deloitte Partner; Big 4 Legal Grows; A $3.5 Billion Error | 2.17.23

Going Concern

” Big Four: EY, Deloitte, KPMG, and PwC step on law firms’ toes increasing legal revenue to £1.25bn [ City A.M. ] The Big Four accounting firms – EY, Deloitte, KPMG, and PwC – are capturing an ever-larger share of the global market for legal services. Regulators are, in general, supportive.”

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Friday Footnotes: Working 100 Hours a Week (For Real); 99% of Firms Short on Staff; The EY Power Struggle | 8.4.23

Going Concern

Technology With generative AI, start with the basics, EY tells CFOs [ CFO Dive ] The best thing for CFOs today is just “take a look at their operations,” Michael Kelly, partner and management consulting consultant at Big Four accounting firm Ernst & Young said. Audit Fireside Chat with PCAOB Chair Erica Y.

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Friday Footnotes: KPMG’s Idea of a Fun Summer; IRS Eats Their Homework; Downsized GT Downsizes | 5.13.22

Going Concern

The UK accounting regulator asked the industry tribunal to fine Pratik Paw £50,000 and ban him from the profession for four years for his part in the deception of its inspectors during a review of KPMG’s auditing of UK outsourcer Carillion. Months after remote-work offer, PwC’s D.C.

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