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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.

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Friday Footnotes: Remembering Legend Sid Kess; Andersen’s Doing Great; Poland Banned Deloitte From Auditing? | 9.22.23

Going Concern

Michael Harlow to Lead Cannabis Practice at CohnReznick [ INSIDE Public Accounting ] New York-based IPA 100 firm CohnReznick LLP (FY23 net revenue of $920 million) has named Michael Harlow as leader of its cannabis industry practice. That compares with the $1.6 billion the company generated for all of 2022.

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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

The international firm has cited legal professional privilege over a report by law firm Linklaters, but provided more information about the scope of the investigation and the conduct of those it mentions. City Manager Tom Sarvey said every three years, the city is required to review its contracted auditing firm.

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UK Accounting Giants Reserve $212M For Possible Fines

PYMNTS

The collapses raised concerns that auditors failed to detect financial troubles in corporates’ books — and ignited a debate over whether auditors are responsible for discovering potential signs of impending collapse, or even fraud. Now, auditing giants are bracing for even more fines. Insolvency Service.

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