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Monday Morning Accounting News Brief: EY Partners Banging the Client Again; Turnstile Data Shows Staff DGAF About RTO | 1.29.24

Going Concern

has hired KPMG LLP to vet its financial statements almost three months after its auditor of 28 years quit amid a tumultuous period for the food storage container business. Tupperware hired the Big Four auditor on Jan. According to EY, she resigned as partner and never worked on the Asda audit. Randy bunch, those EYers.

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UK Accounting Watchdog Ramps Up Fines

PYMNTS

The FRC issued fines totaling $19 million against PricewaterhouseCoopers (PwC) and KPMG last week, while the regulator also sent KPMG an unprecedented warning that its auditing processes are subpar. “The risk in imposing ever-greater financial sanctions is that these increase the risk profile of auditing,” he said.

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Friday Footnotes: Working Late; The Year of the ESOP?; It’s Not Layoffs, It’s “Repositioning” | 1.5.24

Going Concern

The parliamentary scrutiny made household names of high-fliers who had become used to operating under the radar of public opinion or corporate accountability. Racial diversity in accounting has been treated as a “box-ticking exercise”, Atul said to The Mail on Sunday in December, even when professions are a magnet for minorities.