article thumbnail

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

Going Concern

Big 4 EY auditors escape potential Wirecard sanctions after leaving profession [ Financial Times ] Germany’s audit watchdog closed investigations against four current and former EY auditors involved in inspecting collapsed payments firm Wirecard after they handed back their professional licences and left the profession earlier this month.

auditor 109
article thumbnail

Evolution of the Sales Tax Audit: Have Audits Changed with Economic Nexus?

TaxConnex

Bad luck for one, or a customer of yours undergoing their own audit might produce one of your invoices, resulting in the auditor possibly contacting you for an exemption certificate or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for a transaction that the auditor may think is taxable.

audit 172
Insiders

Sign Up for our Newsletter

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

article thumbnail

Friday Footnotes: KPMG Hires Ex-Prisoners; Notes From PwC’s All-Hands; Why CPAs Are Leaving | 4.26.24

Going Concern

One of the Big Four firms, KPMG, has become the first white-collar British business to employ former prisoners as part of the government’s new pilot programme. This report aims to guide accounting firm leaders towards effective strategies that we believe, when properly implemented, will enhance both retention and firm performance.”

cpas 91
article thumbnail

Prager Metis Just Got Thoroughly Boned By the SEC For Hundreds of Independence Violations

Going Concern

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.

cpas 64
article thumbnail

Monday Morning Accounting News Brief: Big 4 Better Be Ready to Get Regulated Hard; A Firm Playing Hot Potato With a Data Breach | 5.6.24

Going Concern

Bloomberg Tax drops a scary headline : End of Trump Media’s Auditor Jolts Hundreds of Other Companies The sudden shutdown of what the SEC dubbed a “sham audit mill” will force hundreds of companies, including Trump Media & Technology Group Corp., an AI-focused digital advertising company in California. WE’RE AWARE.

auditor 79
article thumbnail

Monday Morning Accounting News Brief: What Do Big 4 Firms Pay These Days?; EY Gets Sued | 4.8.24

Going Concern

They will be if one California lawmaker gets his way. Business Insider analyzed the US Office of Foreign Labor Certification’s 2023 disclosure data for permanent and temporary foreign workers to find out what Big 4 firms pay. However, BF Borgers is a prolific auditor with more frequent examinations.

auditor 59
article thumbnail

Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

They also expect auditors to understand and evaluate processes and controls, analyze transaction-level data for anomalies, and test more data in real-time,” said Scott Flynn, KPMG vice chair—Audit, in a news release.

audit 107