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When Is the Right Time to Leave Public Accounting?

Going Concern

When I started in public accounting, one of the audit partner s I worked with shared the elevator metaphor: working in public accounting is like riding an elevator—the longer you stay on, the higher up you will go. Side note : this is how about half the partners in public accounting became partners.).

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Friday Footnotes: Why People Leave Public Accounting; Audit Workloads Up; Terrorist Clients (Literally) | 12.2.22

Going Concern

Why People Leave Public Accounting [ CPA Journal ]. Writes Edward Mendlowitz, CPA/PFS, ABV: There are many reasons why CPAs decide to leave public accounting firms. The following is a discussion of what I have found to be the most common reasons why people leave public accounting.

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Friday Footnotes: The ERC Problem; EY Double Dips; Stress Less in Public Accounting | 5.26.23

Going Concern

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. Ron Wyden, the chairman of the Senate Finance Committee.

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Marcum Didn’t Let a Little License to Practice Stand in the Way of Providing Professional Services in Ontario

Going Concern

Here’s what happened: Ontario public accounting licensing body CPA Ontario reached an out-of-court settlement with Marcum LLP resolving allegations of multiple instances of US Marcum partners performing work in Ontario — including issuer audits — without said partners being licensed to practice in the province.

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Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

Owners of Public Accounting firms are always telling their clients to work on their business and not in their business, yet many times do not take their own advice. It is possible to run an Accounting Firm and never do tax returns or financial statements!

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Withum Noped Out of Trump Media So Fast

Going Concern

See: Trump Media’s accounting firm has a 100% deficiency rate from U.S. Longtime Trump Organization accountants Mazars broke up with the former president’s company just days before Valentine’s Day 2022 and said in their breakup letter “the Statements of Financial Condition for Donald J.

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Semple, Marchal & Cooper is Trump Media’s New Auditor

CPA Practice

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. Considering how tight the audit market is for the smaller public companies that tended to use Borgers, this will be a galactic pain in the asset.

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