Going Concern

JUNE 29, 2022

With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.

auditor 115

auditor audit CPA accounting principles 115

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.

accounting principles 119

accounting principles auditor financial statements audit 119

Going Concern

JUNE 28, 2022

The SEC has fined EY a record $100 million after an investigation revealed auditors at EY were cheating on ethics exams (open book ethics exams we presume) and CPE; worse than cheating alone, they actively tried to cover it up and hide the cheating from the SEC. Well this is bad.

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auditor audit CPA accounting principles 98

Snyder

NOVEMBER 22, 2022

What are basic accounting principles? What is accounting software? Basic accounting and its secrets. The Fantastic Four of accounting. Accounting principles: Why are they so important for any business? Basic accounting principles. Accrual principle. Basic accounting principles.

accounting principles 52

accounting principles basic accounting Account accountant 52

CPA Practice

JULY 23, 2024

“Some respondents noted that because those contracts relate to the performance of a party to the contract, accounting for those contracts as derivatives measured at fair value does not provide decision-useful information.

Account 122

Account accountant accounted accounting principles 122

Cherry Bekaert

MAY 9, 2024

A: An independent third-party auditor typically conducts an overhead rate audit. The auditor should be a qualified accounting professional who is experienced in auditing overhead rates and familiar with the intricacies of A&E accounting. Q: Who conducts an overhead rate audit?

audit 115

audit auditor Transportation Government 115

Withum

JANUARY 24, 2023

As navigating an audit from a company perspective is a time-consuming process, companies should plan to utilize accounting managers, senior accountants, or outsourced consultants who have a strong knowledge of generally accepted accounting principles (“GAAP”) in order to successfully navigate the audit process in an efficient manner.

audit 69

audit auditor general ledger cpa firm 69

Withum

SEPTEMBER 1, 2022

I believe that Auditing is an essential element to future success in accounting and business. Most people understand that auditors provide an opinion on publicly traded companies’ financial statements, but they do not fully realize the scope and extent of what auditors do. What could be more interesting?

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auditor audit accounting principles financial statements 75

Basis 365

FEBRUARY 1, 2023

However, junior auditors and tax accountants only need one to three years of experience. Financial Expertise Controllers have more experience than accountants. Both positions are familiar with accounting principles, but controllers can see the practical implications and make profit-making decisions for their organizations.

Account 97

Account accountant accounted bookkeeping 97

inDinero Accounting

JUNE 29, 2023

Accrual Accounting is a vital component of Generally Accepted Accounting Principles (GAAP). Understanding the principles of GAAP accrual accounting can be challenging and daunting; however, with the right guidance, it can be achieved. What are Generally Accepted Accounting Principles (GAAP)?

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accrual accounting accounting principles accounts payable accounting and finance 97

Going Concern

FEBRUARY 17, 2023

Audit Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority [ Wall Street Journal ] The Public Company Accounting Oversight Board is facing calls to be the regulator that brings supervision to bear on auditors of cryptocurrency companies, even as the majority of crypto businesses fall outside its jurisdiction. “It

Legal 98

Legal audit auditor South Carolina 98

CPA Practice

AUGUST 3, 2023

The practice aid, Accounting For and Auditing of Digital Assets , is intended to provide nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively.

auditor 52

auditor audit accounting principles cpas 52

Cherry Bekaert

MARCH 6, 2024

Our diverse team has experience serving small privately held businesses, large multinational privately held businesses and publicly traded businesses across a broad spectrum of industries, ranging from start-ups to billions in revenue reporting under generally accepted accounting principles (GAAP) and International Financial Reporting Standards.

Tax 52

Tax accounting principles financial statements income tax 52

CPA Practice

SEPTEMBER 23, 2024

CPAs are experts in generally accepted accounting principles, or GAAP, the complicated rules and procedures that govern the financial world. Consider Arthur Andersen, once the nation’s most admired public accounting firm and a pillar of the Chicago business community.

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cpas CPA auditor accounting principles 59

CPA Practice

MARCH 24, 2023

CPAs are not only tax professionals, but we are also auditors, professors, legislators, consultants, trusted advisors, and problem solvers.” The Society offers CPE (Continuing Professional Education) classes, on-demand courses on many topics, and 50+ committees specializing in key accounting principles.

New York 64

New York cpas CPA accounting and finance 64

KROST

APRIL 12, 2022

Securing credit, managing employees, and staying involved in the day-to-day running of the business creates a constant set of obstacles to be addressed by the business owner, leaving very little time for a life outside of work, let alone applying the latest accepted accounting principles. Rebecca Hickle, CPA , Manager.

accrual accounting 52

accrual accounting financial statements accounting and finance auditor 52

CPA Practice

OCTOBER 20, 2023

The role of accountants and auditors is crucial to accuracy and transparency in this type of financial reporting to help attract investors and maintain their trust. Andre advises accounting industry clients on external audit, accounting, Generally Accepted Accounting Principles, income tax and internal controls.

audit 52

audit accounting and finance auditor accounting principles 52

CPA Practice

OCTOBER 19, 2023

The role of accountants and auditors is crucial to accuracy and transparency in this type of financial reporting to help attract investors and maintain their trust. Andre advises accounting industry clients on external audit, accounting, Generally Accepted Accounting Principles, income tax and internal controls.

audit 52

audit accounting and finance auditor accounting principles 52

Cherry Bekaert

SEPTEMBER 12, 2024

Ensure Compliance With Regulatory Requirements: Tech companies are required to comply with Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), which are particularly important for companies planning to go public.

Technology 69

Technology Account accountant accounted 69

Cherry Bekaert

JUNE 27, 2024

For a post-award audit, the government is looking to determine whether the accounting system currently complies with all DFARS criteria and whether the data provided by the accounting system is reliable for management purposes. How Should a Contractor Prepare for an Accounting System Audit?

accounting system 52

accounting system Government audit Account 52

Analytix Finance & Accounting

OCTOBER 6, 2023

Predictive analytics: AI for auditors can predict, based on inputs, whether a client is out of compliance with regulatory or industry standards. Data analysis and insights: AI can quickly analyze massive volumes of data to identify potential fraud at a company and catch errors on the ledger.

cpa firm 52

cpa firm CPA Technology bookkeeping 52

CPA Practice

SEPTEMBER 5, 2023

The practice aid, Accounting for and Auditing of Digital Assets , is intended to provide nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively.

audit 59

audit cpas auditor accounting principles 59

CPA Practice

APRIL 4, 2024

Data courtesy of Cornerstone Research “Accounting cases” is defined by Cornerstone Research as cases “involving allegations related to Generally Accepted Accounting Principles (GAAP) violations, violations of other reporting standards, auditing violations, or weaknesses in internal controls over financial reporting.”

Account 53

Account accountant accounted accounting principles 53

Withum

OCTOBER 4, 2022

Effective January 1, 2022, SAS 136 became the new audit standard for employee benefit plan audits for plan years ending after December 15, 2021.

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audit accounting principles financial statements auditor 59

Accounting Insight

APRIL 26, 2023

They will work closely with accountants to help them understand the data and make informed decisions based on the insights provided by the AI systems. AI auditors will be responsible for ensuring the accuracy and integrity of AI systems used in accounting.

Technology 52

Technology Account accountant accounted 52

MineralTree

DECEMBER 15, 2022

What is Compliance in Accounts Payable? Compliance in accounts payable refers to the practice of following laws, regulations, and standards related to handling payments. This includes general accounting principles, tax rules, payment processing protocols, and anti-fraud measures.

accounts payable 52

accounts payable AP Automation Account accountant 52

Going Concern

MARCH 17, 2023

Debunking common myths about auditors, auditing [ The Journal Record ] The people of Oklahoma get a lesson on what audit is. Whilst QAD statistics always come with a health warning, explaining that they represent reviews at a substantially different population of firms each year, this is a significant change to see over a single year.

Government 97

Government Gambling CPA audit 97

Snyder

MARCH 6, 2023

Forensic accountant Forensic accounting usually involves dealing with financial data that is hard to get, so it implies a lot of investigation to collect or reconstruct the data.

forensic accounting 52

forensic accounting Technology Account accountant 52

ThomsonReuters

JANUARY 18, 2024

In general, an accountant’s job description includes common accounting tasks such as: Performing risk analysis evaluations. Working with external auditors. Recording expenses and preparing financial reports. Ensuring the accuracy of bookkeeping and that the bookkeeping is compliant with state and federal laws.

Account 59

Account accountant accounted tax preparation 59

ThomsonReuters

APRIL 18, 2023

These standards revised the way the audit report is presented, called for enhanced communications between auditors and managers charged with governance, and prescribed additional audit procedures for related party transactions. Furthermore, professionals must adhere to new auditing standards SAS 134-140.

Account 52

Account accountant accounted Technology 52

Going Concern

MARCH 15, 2023

While the general investing public is asking “where were the auditors?” To any members of the general investing public reading this: “due professional care” means the independent auditor planned and performed the work required of them according to audit standards. Back to the auditors.

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auditor audit accounting principles financial statements 145

Going Concern

JULY 1, 2022

Marking a Half-Century of Capital Markets Integrity [ Barron’s ] Former chair of the Financial Industry Regulatory Authority and trustee and chair of the Financial Accounting Foundation John J. GAAP, or generally accepted accounting principles. Brennan writes: The bedrock of that reporting regime is U.S.

Tax 58

Tax Account accountant accounted 58

Going Concern

MARCH 11, 2024

According to this Fortune headline , audit quality is the “accounting crisis everybody seems to ignore” and the PCAOB is fighting to fix it. Who watches the watchmen—or, in Fortune 500 terms, who audits the auditors? Who’s everybody? We rag on it all the time.

audit 63

audit Minnesota Account accountant 63

Going Concern

OCTOBER 1, 2022

Today in Auditors Not Doing Their Jobs, the SEC has charged RSM, three senior-level employees who work there, and a couple partners with improper professional conduct for failing to properly audit Revolution Lighting Technologies Inc.’s The post A Bunch of Auditors at RSM F*cked Up appeared first on Going Concern.

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auditor audit accounting principles financial statements 24