CPA Practice

AUGUST 15, 2023

Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. Here is a recap of the PCAOB’s busy last two weeks of enforcement and the firms that got busted.

audit 98

audit auditor accounting firms cpas 98

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? Tesla Korea makes accounting errors [ The Chosun Daily ] Tesla Korea, the South Korean unit of U.S.

CPA 105

CPA auditor Tax audit 105

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.

auditor 115

auditor audit tax return cpas 115

Going Concern

MAY 5, 2022

Supply shortages include CPAs but the accounting pipeline problem as it’s called didn’t happen because of or due to the pandemic. Here’s a 2015 AICPA article that sort of cosigns my foggy recollection : The profession’s focus on the CPA pipeline has long been a priority. It’s been happening for years.

auditor 52

auditor audit cpas CPA 52

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.

auditor 111

auditor audit New York CPA 111

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.

Tax 98

Tax auditor audit Technology 98

Withum

DECEMBER 12, 2023

Certified Public Accountants (CPAs) are the trusted providers of most companies for financial auditing and have been supporting the assurance of non-financial ESG and climate information for decades. Future-looking information: Financial statements usually just look at the previous fiscal years’ balance sheets.

audit 59

audit cpas Account accountant 59

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? have quit or stopped all client work.

auditor 52

auditor audit Account accountant 52

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. The consultation runs until May 26.

accounting firms 52

accounting firms audit Account accountant 52

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? EY and KPMG have 294 and 169 CPAs in their local offices, respectively.

auditor 72

auditor Account accountant accounted 72

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.

audit 97

audit auditor Louisiana cpas 97

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.

auditor 52

auditor cpa firm Account accountant 52

ThomsonReuters

MARCH 20, 2024

When it comes to Single Audits of local governments, nonprofits, school districts, and HUD engagements, auditors must navigate through a complex set of rules that are constantly changing. Backed by an in-house team of expert CPAs and nationally recognized authors, you can be sure the results are accurate and comply with current standards.

audit 52

audit auditor cpas financial statements 52

Going Concern

FEBRUARY 27, 2023

In Australia, EY is still bungling this one up : EY accidentally leaked the personal details of current and former employees while trying to launch a massive review into the firm’s workplace culture. Yet that is what the IRS deals with every day.” From FloQast : Six in ten (63%) U.K. From FloQast : Six in ten (63%) U.K.

Technology 105

Technology Account accountant accounted 105

Going Concern

JULY 5, 2022

Only certified public accountants can audit public companies’ financial statements, per U.S. But, under the SEC’s proposal, the attestation report could be prepared not only by external auditors but also by other service providers, such as an engineering, consulting or certification firm. securities laws.

audit 52

audit Non-Profits auditor cpas 52

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.

audit 52

audit auditor financial statements public accounting 52

Going Concern

MAY 26, 2023

The accounting firm is embroiled in a national scandal over its use of confidential information about proposed tax laws to drum up business. The bitcoin mining company “dismissed” its previous accounting firm Marcum on May 18, appointing Deloitte to take its place. million over a decade.

public accounting 101

public accounting Account accountant accounted 101

CPA Practice

JANUARY 17, 2024

Innovative Solutions for Modern Challenges Corporate accounting and internal audit departments are navigating an increasingly complex and high-pressure business environment. As standards evolve and regulatory demands intensify, the competition for skilled accountants, advisors and auditors has reached new heights.

CPA 40

CPA cpa firm audit auditor 40

Going Concern

JULY 28, 2023

He graduated summa cum laude in accounting from Baruch College with numerous other academic awards and a continuing passion for wrestling, Ping Pong and handball. He was drafted into the army in 1952 and returned to the accounting firm in 1954. The question now is whether year-over-year growth of 18% will continue next year.”

Gambling 97

Gambling audit Technology accounting firms 97

Going Concern

OCTOBER 31, 2022

The IRS is providing a new way for CPAs and others to make anonymous reports about third-party vendors who promote improper claims for the employee retention credit. If your accounting firm requires drug tests , that is). We might write up Deloitte’s State of AI survey, we might plug accounting firms into WOMBO instead.

Account 105

Account accountant accounted audit 105

Going Concern

NOVEMBER 18, 2022

KPMG has been blocked from winning new audit contracts in Abu Dhabi after regulators removed the Big Four firm from the list of accountants authorised to sign off companies’ financial statements. After 1,600 auditors combed through DOD’s $3.5 trillion in assets and $3.7 Law & Order.

Technology 93

Technology audit auditor accounting and finance 93

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.

audit 105

audit accounting and finance Virginia auditor 105

CPA Practice

SEPTEMBER 5, 2023

AICPA News is a roundup of recent announcements from the American Institute of Certified Public Accountants. The practice aid, Accounting for and Auditing of Digital Assets , is intended to provide nonauthoritative guidance on how to account for and audit digital assets under U.S.

audit 59

audit cpas auditor accounting principles 59

ThomsonReuters

JANUARY 12, 2023

Governance risks include financial reporting, fraud prevention, executive pay transparency, and overall business dealings of the company. . Increasingly, businesses are engaging third-party assurance auditors to report on those ESG disclosures. . What is an ESG audit? Like any audit, ESG audits can be internal or external.

audit 52

audit auditor Technology Government 52

Ryan Lazanis

APRIL 18, 2023

Here’s chatCPA , a bot trained by CPAs that you can chat with for only $6/month: That being said: Advanced technologies like AI can assist and improve the work of accountants, but they cannot entirely replace them because of their inability to perform essential human skills such as judgment, communication, and critical thinking.

Account 96

Account accountant accounted Technology 96

Going Concern

MARCH 4, 2022

Meanwhile on Twitter, our friend Sam Antar is still roasting the KPMG auditors (well, technically Peat Marwick) who let the Crazy Eddie fraud slip through their horny little fingers: Two hookers and an auditor. Bureau of Labor Statistics reported Friday, although the number of accounting and bookkeeping jobs declined by 800.

audit 83

audit Kansas auditor bookkeeping jobs 83

Going Concern

AUGUST 21, 2023

Someone who isn’t an auditor complains on Blockworks about using the word audit for things that aren’t audits and then explains in graphic detail the various audit-like things that one can engage in (that aren’t audits). Kimberly (Chapman) Massanova has joined Freed Maxick CPAs and the firm seems exceedingly pleased.

audit 52

audit Account accountant accounted 52

Going Concern

DECEMBER 8, 2023

Expand the accounting pipeline with a mentorship circle [ Journal of Accountancy ] At a time when the CPA pipeline is running slow, mentoring can be a powerful tool to recruit potentially interested students into accounting and guide them to careers in the profession. The SEC approved the standard on Dec.

cpas 117

cpas Account accountant accounted 117

Going Concern

MARCH 8, 2024

Audit SEC Settlement Against Auditing Firm Serves as Reminder of Important Independence Rules [ JD Supra ] On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co. But that is changing.

audit 93

audit auditor New York Legal 93

Going Concern

MARCH 1, 2024

Meanwhile, the audit side is under increased regulatory pressure because of perceived lapses in audit quality at accounting firms of all sizes. If adopted, the proposal would strengthen auditor requirements to identify, evaluate, and communicate possible or actual noncompliance with laws and regulations.

audit 111

audit Nebraska auditor chartered accountant 111

Going Concern

MARCH 17, 2023

“A proposal like this could allow for the reinstatement of credit for more than 15,000 CPA candidates and re-open the door for those candidates to complete their journeys to becoming licensed CPAs. The best financial planners or wealth managers will set themselves apart with outstanding soft skills.”

Government 95

Government Gambling audit CPA 95

Going Concern

OCTOBER 11, 2022

These businesses have their financial advisory needs served by hundreds of thousands of small firm accountants and CPAs nationwide. Small business has unique needs for accounting services: primarily tax and advising, and secondarily day-to-day accounting needs to act as de-facto controllers and decision makers.

Education 102

Education Account accountant accounted 102

Going Concern

APRIL 1, 2024

It’s Joy Merriner’s job as an independent auditor with the firm BDO to go through the city’s financial statements and make sure they are fair and accurate. who founded and runs the accounting technology community Realize. Let’s be clear, this issue isn’t limited to Anchorage.

Account 105

Account accountant accounted audit 105

Going Concern

JANUARY 26, 2024

AI Is your firm keeping pace? How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations. Here are just two of the many accounting professionals up for grabs, see more remote accounting professionals here.

Account 119

Account accountant accounted audit 119

Snyder

MARCH 6, 2023

Public accountant Public accounting involves working with various clients — businesses or individuals — as external consultants and being either a part of an accounting firm or working individually. Public accountants usually help with accounting records, financial statements, and tax filing.

forensic accounting 52

forensic accounting Account accountant accounted 52

CPA Practice

MAY 6, 2024

However, it didn’t take long for Trump Media, the company behind former President Donald Trump’s Truth Social, to announce its next external auditor. Several media outlets have reported that in an SEC filing on May 3, Trump Media replaced BF Borders with Phoenix-based CPA and consulting firm Semple, Marchal & Cooper.

auditor 97

auditor audit financial statements CPA 97

Going Concern

APRIL 14, 2023

Staffing Drama Signal Mountain Won’t Pay Accounting Firm For Extra Work On Audit [ Chattanoogan.com ] Clients are the worst The Signal Mountain Town Council has declined to pay an auditing firm extra money it said was due because of inadequate help from city employees in preparing the annual city audit.

Tax 105

Tax auditor audit accounting firms 105