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

OCTOBER 1, 2022

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. At trial, Vatican auditor says he was shocked by misuse of funds [ Catholic News Service ].

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CPA Practice

FEBRUARY 28, 2023

The American Institute of CPAs (AICPA) and CPA.com announced its 2023 Startup Accelerator cohort at a kick-off meeting held at AICPA headquarters in New York. This year’s participants include five early-stage companies pursuing a variety of solutions in audit, accounting, tax and e-commerce.

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Going Concern

MAY 15, 2023

Armanino is named in an FTX lawsui t: The latest suit was filed Friday in federal court in San Francisco against Sequoia Capital Operations, LLC, the prominent Menlo Park firm known for early backing of Apple, Inc. The plaintiffs also asserted claims against FTX’s accounting firms, Armanino LLP of San Ramon and Prager Metis CPAS, Inc.

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Going Concern

NOVEMBER 4, 2022

PricewaterhouseCoopers LLP’s $267 million settlement with retirees seeking higher pension benefits received early approval from a New York federal judge, paving the way for resolution of a 16-year-old class action challenging various aspects of the company’s pension plan. Firm M&A. to Yum China Holdings Inc.

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Going Concern

MARCH 22, 2024

Day has spent most of his 38-year accounting career at EY, which he initially joined in 1986 on the audit staff in St. Rising through the ranks at the firm, his career path later took him to London, New York, and Munich serving as EY Global’s director of capital markets, as well as EY’s US chief accountant.

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Going Concern

JANUARY 22, 2024

Paul-based Anton Group comes at a critical time for charter schools, which are contending with a shortage of firms capable of navigating their complex finances. When asked the secret to the firm’s success, Managing Partner Jim Proppe can answer the question with one word: culture. I’ll get to it later. Legacy of Dr. Josie R.

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Going Concern

JUNE 23, 2023

Office Hours: CPA Firms Shift Toward More In-Person Collaboration and More Square Footage [ INSIDE Public Accounting ] Three years after accounting professionals were forced home by COVID and then back to the office, at least part of the time, firms are beginning to settle into a new normal.

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Going Concern

JANUARY 26, 2024

Long Read Corporate Self-Oversight [ The American Prospect ] Four auditing firms examine the books of nearly every big U.S. But federal monitoring is making a comeback under new leadership. AI Is your firm keeping pace? This survey reflects many of the challenges that professionals in CPA firms of all sizes are currently facing.

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Going Concern

MARCH 17, 2023

Johnson continues, “If accounting firms want to venture deeper into the world of financial planning or wealth management, I suspect they would not be able to find enough CPAs with the necessary skill set to easily step into the role. The journey to zero-day close will drive further adoption of accounting automation 3.

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Going Concern

JANUARY 27, 2023

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.

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Going Concern

FEBRUARY 23, 2024

Patrick, now a resident of Cody, Wyoming, co-owned a media brokerage firm with her husband and hired an accounting firm to prepare business and personal tax returns for 2012 through 2014. Despite receiving the completed and accurate tax returns from the accounting firm, Patrick did not file them with the IRS.

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Going Concern

DECEMBER 9, 2022

As we enter the season of giving, it seems that employees of a Mississippi-based accounting firm with a lucrative Florida contract have allegedly been caught gifting themselves funds intended to help citizens in need. Baker Tilly Shops for US Law Firm as Big Four Expand Services [ Bloomberg Tax ]. Something’s up.

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Going Concern

JANUARY 13, 2023

The Abradin association said it was denouncing Americanas for what it called a “multi-billion fraud,” while also asking regulator CVM to investigate the retailer’s auditor, PwC. Trump’s Company Gets Maximum Punishment for Evading Taxes [ New York Times ]. Former President Donald J.

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Going Concern

AUGUST 25, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.

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Going Concern

APRIL 22, 2022

This is an accounting firm, not a drive-thru. Audit quality indicators show importance of tone at the top [ Journal of Accountancy ] Tone at the top and appropriate deployment of personnel are among the most important indicators of a quality audit, according to a survey of CPA firms performed by the AICPA.

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Going Concern

MARCH 15, 2024

EY’s new boss shuffles leadership roles and plans cost cuts [ Financial Times ] EY’s new boss Janet Truncale has set out her leadership team for the Big Four accounting firm, moving an architect of its failed split from his executive role and signalling plans to cut costs across the global firm.

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