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FASB Took It Easy in 2022

Going Concern

While the PCAOB has been on a mission to scare the pants off of auditors everywhere in the past year with record fines and scary speeches, the Financial Accounting Standards Board took a much more chill approach to 2022. The FASB’s record breaking year for the past two decades took place in 2010 with 29 new standards issued.

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Friday Footnotes: A World Without Accountants; GAO Finds a Big Mistake; ‘Fazbie’ | 8.5.22

Going Concern

Meet the accountants who may become the new power brokers of taxes. [ needs full access to Chinese company audit papers to resolve accounting dispute -watchdog [ Reuters ] The U.S. says new funding won’t mean more audits for middle-income Americans. [ New York Times ] Charles P. and Baidu Inc.,

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Friday Footnotes: Higher Salaries Lead to Higher Fees; EY Auditors Quit; Senator Rags on Greedy Accounting Firms | 1.27.23

Going Concern

KPMG POISED TO CAPITALIZE ON INCREASED DEMAND FOR OUTSOURCING CORPORATE TAX DEPARTMENTS [ PR Newswire ] ONLY POSTING THIS BECAUSE THE ALL CAPS IS FUNNY. We pray that one day we will again see the New York that nurtured the love that Michelle had for life. Collins left the ‘big four’ firm in October 2022.

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Friday Footnotes: Opinions!; EY’s Blockchain Aspirations; KPMG Junior Reprimanded | 9.30.22

Going Concern

KPMG was fined £14m in May for the wrongdoing of its former staff in the case after a tribunal found that its accountants conspired to mislead a 2017 inspection team looking into audit work it conducted for the troubled engineering company, which collapsed in 2018. This complements Baker Tilly’s strong corporate tax talent.