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

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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ThomsonReuters

MAY 22, 2024

There are, however, other considerations at play and challenges that accounting firm leaders may face when looking to move to the cloud. To help firms navigate the change, this article will take a closer look at both some of the opportunities and challenges that firm owners and partners should consider.

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accounting firms Technology Account accountant 52

Going Concern

JANUARY 20, 2023

Practice Management How firms use stay interviews to boost retention [ Journal of Accountancy ] Job interviews have long been an essential part of the hiring process. But now, some public accounting firms are turning the lens on themselves.

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auditor Technology audit financial statements 98

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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CPA Practice

MAY 3, 2024

By Chris Morris, Fast Company (TNS) The auditor of Donald Trump’s Trump Media has been charged with “massive fraud” by the Securities and Exchange Commission (SEC), which says the company “undermined trust and confidence in our markets.” Audit firm BF Borgers has agreed to pay a $12 million civil penalty to settle the charges.

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audit auditor accounting firms financial statements 116

Going Concern

SEPTEMBER 16, 2022

EY fired auditor for not approving illegal transactions, says a new lawsuit [ Reuters ] Ernst & Young LLP has been sued by a former partner who says she was forced out of her job for refusing to sign off on client transactions that violated tax and securities laws. Accounting Firm M&A. PwC HK, KPMG to host U.S.

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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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audit auditor accounting firms cpas 98

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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auditor audit Technology Gaming 59

ThomsonReuters

APRIL 13, 2023

Understanding how to manage client expectations and concerns and how to get through the process is an essential skill in the tax and accounting professions. That is true for both large accounting firms and small accounting firms , since any client could be the target of an audit.

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audit accounting firms Tax Account 52

Going Concern

MAY 20, 2024

PwC is facing legal action claiming the accountancy firm is liable for the alleged rape of a graduate employee following after-work drinks. The graduate employee is suing PwC for damages over two alleged incidents of sexual assault by a colleague after work hours, court documents show. TL;DR It’s about time! There were 8.5

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audit auditor Account accountant 104

Going Concern

MAY 6, 2024

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., WE’RE AWARE. Borgers had clients ranging from American Rebel Holdings Inc.,

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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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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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auditor audit Manufacturing accounting firms 61

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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accounting firms Tax Account accountant 89

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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Going Concern

MAY 13, 2024

Sabrina Sanders, AT&T’s chief accounting officer, is targeting graduate students for the company’s two-year-old, in-house training program. We included additional clarification that an auditor’s professional skepticism extends to other information that is obtained to comply with PCAOB standards and rules. PCAOB Chair Erica Y.

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CPA Practice

AUGUST 18, 2023

The Public Company Accounting Oversight Board (PCAOB) permanently revoked the registration of Denver-based accounting firm AJ Robbins CPA on Aug. 17 and jointly fined the firm and its owner Allan Jeffrie Robbins $150,000 for independence and professional skepticism failures, as well as for the improper alteration of documents.

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cpa firm CPA auditor audit 52

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

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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TaxConnex

FEBRUARY 3, 2022

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. In general, the questions that are asked on a nexus questionnaire can be quite broad,” writes the Arizona accounting firm Henry+Horne.

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Going Concern

APRIL 15, 2022

Accounting watchdog investigates Deloitte over Go-Ahead audits [ The Guardian ] One of the UK’s biggest accounting firms, Deloitte, is under investigation by regulators for its audits of Go-Ahead, after the bus and rail operator was embroiled in a scandal for wrongly withholding £50m of taxpayers’ money. As a result, U.S.-based

accounting firms 52

accounting firms audit Account accountant 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.

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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.

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CPA auditor Tax audit 104

Anders CPA

JANUARY 9, 2024

Auditor independence rules also become more stringent once this asset level is reached. Among other items, auditors are no longer allowed to prepare the institution’s financial statements as a non-attest service with the audit. If not, some institutions outsource this service to another accounting firm.

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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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audit auditor Technology financial statements 111

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.

CPA 109

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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

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.

Account 104

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Going Concern

MARCH 26, 2024

In late 2022, the PCAOB levied millions of dollars against KPMG Colombia and KPMG UK for sharing answers (among other things like altering audit documentation and providing altered documents to the PCAOB but whatever). Yeah, that’s gonna be a biggun.

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audit auditor CPA accounting firms 113

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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Going Concern

JANUARY 19, 2024

Practice Protecting tax accounting information: Best practices for IT professionals in data security and confidentiality [ Thomson Reuters ] Accounting firms are entrusted with a wealth of sensitive financial data, including tax records, income statements, and other confidential information. I get my tax documents in early.

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CPA Practice

APRIL 15, 2023

One of the Big Four accounting giants in the U.S., Following a split, EY would have been able to advise companies for which it also acted as auditor. It drew ire from US executives—including senior executives like John King and Frank Mahoney—as they wanted auditors to get a bigger bite of the lucrative tax practice pie.

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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

NOVEMBER 10, 2023

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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Going Concern

APRIL 8, 2024

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. Bloomberg went digging around in Trump Media’s auditor’s PCAOB inspection reports: Trump Media & Technology Group Corp. Are they really tho?

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