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When a Bank Fails, People ‘Lose Faith’ in the Auditors

Going Concern

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. Via KU (Kentucky University) News : The word “audit” has a different meaning depending on whether you’re an individual or a bank.

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Friday Footnotes: Tim Ryan Works Too Hard; Fake CPA Gets Violent Over QuickBooks Files; PwC PR | 10.20.23

Going Concern

TowerBrook and Eisner plan to continue acquiring regional accounting firms or partnerships. Tennessee’s largest CPA firm announces expansion into Kentucky [ The Tennessean ] One of the Nashville area’s top-ranked business consulting firms is expanding its services to Kentucky.

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Friday Footnotes: EY Doesn’t Regret a Return to Office; Consulting Cut Backs; AI Will Not Replace Accountants | 8.11.23

Going Concern

MCM CPAs & Advisors Joins Cherry Bekaert [ PR Newswire ] Cherry Bekaert (the Firm) is pleased to announce the completion of an acquisition transaction with MCM CPAs & Advisors LLP (MCM), a large regional accounting and advisory firm headquartered in Louisville, Kentucky, providing highly specialized services to a broad range of clients.

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Friday Footnotes: Fired Accountant Spills the Dirty Laundry; Scandals of Yore; Gen AI For Good | 1.26.24

Going Concern

Long Read Corporate Self-Oversight [ The American Prospect ] Four auditing firms examine the books of nearly every big U.S. 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.

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Monday Morning Accounting News Brief: Eff You, Pay Us; Let’s Complain About Auditing Again; RIP to a Real One | 8.14.23

Going Concern

Indeed, regulators have historically taken the approach of where there is one, there are many —whether it is financial services firms, technology companies, or now audit firms, once one major breach of misconduct occurs, regulators take a closer look at the industry at large to understand how deep and wide an issue may be.

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