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.

CPA

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.

auditor

Going Concern

FEBRUARY 24, 2023

For public accounting firms in Minnesota: Minnesota public accounting firms, no longer being able to practice freely across state lines, would need to provide advance notice and gain a practice permit before signing any client engagement agreement or providing any public accounting service.

Minnesota

Going Concern

FEBRUARY 16, 2024

This is according to the Illinois CPA Society (ICPAS), which surveyed 449 employers and 433 accounting and finance employees last summer and released its results last month. In the past few decades, public accounting firms have implemented work-life balance practices as part of their attempts to curb excessive turnover.

Real Estate

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. Illinois CPA Society has issued a new pipeline report: Re-Decoding the Decline. The standard applies to all engagements where the firm serves as the lead auditor or has a “substantial role.”

audit

ThomsonReuters

JUNE 24, 2024

” While not all states have laws explicitly addressing paycards, many have enacted legislation affecting how paycard programs operate, such as Illinois, Maine, and Nevada. Auditors will still demand to see detailed reports on what specific unclaimed property amounts have actually been reported.

accounting firms

Going Concern

SEPTEMBER 25, 2023

Palos Hills Accountant Indicted In $7.8M Attorney General’s Office for Northern Illinois announced on Wednesday. He also failed to pay over $1 million in outstanding tax debts he and his accounting firm, Carter’s Tax Advisory, owed. million in small business loans under the CARES Act, the U.S.

tax preparation

Going Concern

FEBRUARY 9, 2024

Three of the firms also joined industry efforts to designate accounting as a science, technology, engineering, and math—or STEM—field, according to federal lobbying disclosures. My buddy from undergrad works office security at one of the Big 4 accounting firms in Midtown.

Technology

Going Concern

SEPTEMBER 22, 2023

“The job security and the ability to have a comfortable life motivated me at first,” said Khokhar, who served as a senior accountant at two construction firms and senior auditor at an accounting firm. But once I started, had some work and life experience, I realized there are better options out there.”

Account

Going Concern

APRIL 6, 2022

Tax accountant, 1-3 years’ experience: 1.6%. Entry-level tax accountant: 2.6%. Senior auditor: 1.6%. Auditor, 1-3 years’ experience: 2.2%. Entry-level auditor: 1.6%. The AP guide was released in November 2021 and estimates that accounting salaries are expected to rise 6.4% Audit and assurance services.

accountant salary

Going Concern

OCTOBER 9, 2023

Miller, a veteran finance executive who was lured to EY from the commodities trading firm Cargill, had been lined up to become chief financial officer of the consulting business if the spin-off had gone ahead. With that off the table I have left to pursue other opportunities.

Account

Going Concern

AUGUST 21, 2023

This week I’ll be covering the Illinois CPA Society SUMMIT23 so if you want to keep up with all that from the comfort of your home or office go on Twitter. I’m not an auditor, either by training or current profession, and I’m not here to write about how audits work. If you’re attending live come find me, I have stickers.

audit

Going Concern

DECEMBER 8, 2023

Pipeline The AICPA and NASBA’s Inadequate Response to Reaching 150 Hours [ CPA Journal ] The 150-hour requirement is a considerable barrier for students wanting to become a CPA or considering accounting as a major, even if it is not the dominant barrier. hours), and quality of work performed as leading barriers.

cpas

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.

tax preparation

Going Concern

OCTOBER 27, 2023

But the family says Buffett’s lieutenants have changed the accounting rules covering the largest US truck-stop business, cutting the value of the so-called put right. Joshua Lance, CPA, CGMA, founder and owner of the virtual firm Lance CPA Group, passed away Saturday after a nearly yearlong battle with cancer. He was 40 years old.

CPA

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.

Gambling

Going Concern

OCTOBER 7, 2024

The Big Four accounting firm told employees last week that it would embark on a reorganisation of areas of the business affecting about 2,700 staff and partners, adding that it was part of its “new vision to become the pre-eminent firm”, according to a document seen by the Financial Times. Yeah, that doesn’t sound good.

Account

Going Concern

JANUARY 5, 2024

Big 4 Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs [ Bloomberg Tax ] The Big Four accounting firms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services.

tax return