Going Concern

SEPTEMBER 30, 2022

auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation. MAN, when they said there’s a critical shortage of auditors and audit supervisors they weren’t kidding. public company audit clients.

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Going Concern

NOVEMBER 4, 2024

” Australian federal police officers have commenced a search for documents at the headquarters of PwC Australia in response to the damaging tax leaks scandal. Treasury referred the matter – which relates to the sharing of confidential multinational tax proposals within the firm – to police in May last year.

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Going Concern

OCTOBER 25, 2023

The firm used the work of two firms not registered with the PCAOB — PKF Audisur of Argentina and PwC Malta of, duh, Malta — in “a substantial role capacity” on four issuer audits. Expect more of these fines to come, the PCAOB made use of other auditors one of its many nitpicking pet issues last year.

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Going Concern

MARCH 31, 2023

Big 4 EY Fails to Reach Deal on Split [ Wall Street Journal ] The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who believe their part of the firm could end up weakened by a deal. People did not enjoy that.

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CPA Practice

NOVEMBER 19, 2024

Risk mitigation in the AI era: Why better data means better protection In an environment of increasing regulatory scrutiny around AI use, accounting firms need a robust foundation for their technology adoption. Documented evidence of methodology compliance. Auditors who know how to: Frame the right questions for AI analysis.

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CPA Practice

AUGUST 28, 2024

As in 2023, AI systems were again dominant among the winners of the 2024 Tax & Accounting Technology Innovation Awards, presented annually by CPA Practice Advisor, a technology and practice management resource for public accounting firms. “ AuditFile AI is like the self-driving car of auditing.

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Going Concern

JULY 31, 2023

Related: PwC settled ‘false LPP’ penalties days before bid to suppress emails [ Australian Financial Review ]: The Tax Office signed a confidential settlement with PwC in March involving the firm’s false claims for legal professional privilege over 150 documents related to tax advice to a multinational client.

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CPA Practice

MAY 15, 2024

The technologies used in professional accounting firms continue to evolve and shape how practices function, from client service, to staffing issues, and overall management and growth. WINNER: TheTaxBook – Tax Materials Inc. has become a massive challenge for most small and mid-sized businesses.

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Going Concern

JUNE 22, 2022

The PCAOB adopted a new audit standard yesterday (AS 1206, Dividing Responsibility for the Audit With Another Accounting Firm ) to ensure that lead auditors are properly supervising the outside auditors they use. PCAOB Adopts New Requirements for Lead Auditor’s Use of Other Auditors [ PCAOB ].

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Going Concern

FEBRUARY 3, 2023

We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. From the report: The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. All our auditors have been appointed in compliance with applicable laws.” “The

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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.

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Accounting Today

JUNE 6, 2025

Wolters Kluwer releases AI audit documentation solution Wolters Kluwer HQ Wolters Klower announced TeamMate+ AI Editor, a generative AI writing engine designed to enhance the quality of audit documentation with data protection and safeguards.

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Accounting Today

JUNE 9, 2025

Tax Strategy Reports for every tax strategy, with detailed calculations of deductions and credits, supporting documentation, and an actionable plan. Instead users can collaborate with their tax professionals on the platform or search the Instead directory of firms that support the platform and offer tax planning and advisory services.

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Withum

MAY 9, 2024

However, my role is not just to teach the material but to excite them about accounting as a profession and auditing in particular and share my pride in the vital role auditors play in our ecosystem. In its simplest form, auditors provide an opinion on an organization’s financial statements. Ethics is not a buzzword.

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CPA Practice

MAY 11, 2023

Accounting firms have faced a volatile profession in the past year as teams struggled with burnout while staff shortages increased, regulatory changes caught firms off guard – increasing compliance and security concerns – and tax laws became increasingly more confusing for clients and CPAs alike. By James Paille, CPP.

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ThomsonReuters

JUNE 22, 2021

How then can IT leaders in large tax and accounting firms best make their case for new technology? Getting people to change is a huge hurdle with firms. For most people in accounting firms, driving change, and leading people through change is not a natural skill set for them. Says Will Hill. I like that.

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PYMNTS

JUNE 26, 2020

Ernst & Young ( EY ), the global accounting firm hired to verify Wirecard’s financials, failed to request crucial information from a Singapore bank where the German payment processor claimed it had up to 1 billion euros ($1.1 The big question for me is what on earth did EY do when they signed off the accounts?”

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CPA Practice

SEPTEMBER 10, 2024

The PCAOB approved the updated quality control standard , QC 1000, A Firm’s System of Quality Control , last May. Gary Gensler “An auditing firm is ultimately a professional services firm, and it needs to ensure the quality of the services it provides,” SEC Chair Gary Gensler said in a statement. “I she said in a statement.

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PYMNTS

JULY 19, 2020

Wirecard AG’s accounting firm said an independent report failed to account for half of the German payment company’s revenue and all its operating profit, the Financial Times (FT) reported. . Reporting solely on KPMG’s forensic investigation carries the danger of misinterpretation,” they noted. .

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Accounting Today

JUNE 5, 2025

After the company told him that the bank would not approve the loan without copies of his filed returns, Trifilo provided fabricated documents to make it appear as if he had filed federal returns for 2020 and 2021. By Michael Cohn 11h ago Audit Auditors' pessimism about economy surges Audit partners pessimism about the U.S.

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Going Concern

OCTOBER 11, 2022

Are bank failures bad PR for the firms that audit them? bank customers — find it difficult to trust auditors when those auditors have been associated with a failed bank. This leads to lower deposit growth at banks with the same auditor. It’s published in The Accounting Review.

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Withum

SEPTEMBER 8, 2022

Tonight I will conduct my second Auditing class session of this semester at Fairleigh Dickinson University, and I will be teaching what the auditor’s opinion means and what auditors do to arrive at their opinion. By way of illustration, you can pick any Company’s annual report and follow along with its Auditor’s Report.

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Going Concern

DECEMBER 22, 2023

Barring any huge incident like an accounting firm getting raided by the FBI on Christmas Day, there will not be any breaking news. million) in damages from accounting firm EY for its role in auditing the books of Wirecard before its collapse in 2020, a shareholder group said. Don’t hesitate to reach out.

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CPA Practice

JULY 9, 2023

Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner. Tailored specifically for accounting professionals, this technology assists users across all attest areas. AuditFile, Inc.,

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ThomsonReuters

JANUARY 3, 2023

Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?

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CPA Practice

SEPTEMBER 17, 2024

During its inspections of public accounting firms’ audits of issuers from 2021 to 2023, the Public Company Accounting Oversight Board (PCAOB) saw a year-over-year increase in the number of comment forms related to auditor independence problems, the audit regulator said in a staff report released on Sept.

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auditor audit Technology accounting firms 52

Going Concern

FEBRUARY 24, 2023

To test compliance with the agreement, the PCAOB requested that the transfer of documents take place on two occasions, with one batch transferred at the mid-point of inspection field work and a second batch transferred at the end of field work. No deadline has been set for the changes and replacements may happen gradually as contracts expire.

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Going Concern

OCTOBER 20, 2023

TowerBrook and Eisner plan to continue acquiring regional accounting firms or partnerships. Brentwood-based LBMC, a business consulting and financial services firm, will welcome Louisville-based accounting firm Strothman & Co under its family of companies. This move, effective Nov.

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Going Concern

SEPTEMBER 29, 2023

The London-based global accounting firm officially known as PricewaterhouseCoopers International is in talks to lease three floors at a new office building at 3155 Olsen Drive, across from Santana Row in West San Jose, the San Jose Mercury News reported, citing unidentified sources.

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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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Going Concern

SEPTEMBER 27, 2024

Providing the capital necessary to fund the retirement plans of the profession’s baby boomer and Gen X partners has been a major reason that accounting firms are turning to private equity — but that in itself will bring structural changes that make it easier to hold all members of the partner group accountable.

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CPA Practice

JULY 17, 2024

This specialized labor shortage is not just a problem for the accounting firms struggling to fill out their entry-level recruiting classes. But with depleted ranks, accounting firms are struggling to keep up with demand, and founders say they are struggling to get the answers they need.

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Going Concern

AUGUST 31, 2023

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Going Concern

SEPTEMBER 12, 2023

.” From today’s news release : The Securities and Exchange Commission today charged Alfonse Gregory Giugliano, CPA, the former National Assurance Services Leader at Marcum LLP, a public accounting firm, with failing to sufficiently address and remediate numerous deficiencies in Marcum’s quality control system.

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Going Concern

FEBRUARY 23, 2024

Top Remote Accounting Candidates: February 22, 2024 Law & Order Co-Owner of Media Brokerage Firm Sentenced for Filing False Tax Returns [ Department of Justice ] According to court documents and statements made in court, Susan K. From 2012 to April 2018, according to the criminal information document signed by U.S.

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Going Concern

OCTOBER 30, 2023

PwC has picked the head of its international advisory business, Mohamed Kande, to be its next chair, putting the Big Four accounting firm in the hands of a consulting partner. Kande’s selection by PwC’s global board was revealed to the firm’s partners on Monday, according to people familiar with the internal message.

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Going Concern

SEPTEMBER 25, 2023

In the indictment that was unsealed on Tuesday, prosecutors allege that Mitchell and Shreiteh allegedly recruited independent business owners, self-employed workers, and other businesses to provide them with personal information, bank statements, and other documents which they then submitted for PPP loans, prosecutors said.

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