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Tuesday Morning Accounting News Brief: A New Kind of Audit Quality Report; Merger Mania; Skilled Talent, Not Newbies | 5.28.24

Going Concern

Blue Ash-based tax, advisory and audit firm Cassady Schiller CPAs & Advisors will become part of Katz, Sapper & Miller in a transaction that will be completed May 31. … In 2015, EY Canada was hired as an outside auditor to investigate “irregularities” among the hospital’s procurement practices.

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Monday Morning Accounting News Brief: Consulting Really Sucks Right Now; Inside a PwC Leadership Race | 3.25.24

Going Concern

The Financial Reporting Council, audit watchdog to those zany Brits, said today that it won’t be able to increase headcount just yet because something something laws. “Britain’s audit watchdog pauses hiring after delay in new powers,” Reuters March 25, 2024 FRC fines have almost doubled in two years.

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

Going Concern

Unlike anybody else, we’re actually building tools and applications in this space, so we built, for example, our own blockchain audit platform, where we can do on-chain and off-chain transaction reconciliation,” said Paul Brody,blockchain lead at EY. Seven things you (probably) don’t know about internal auditing [ Accountants Daily ].

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A Certain Big 4 Firm Gets Another Chance to Screw Up a State’s Unemployment Benefits System

Going Concern

Hopefully Uncle D will do a bang-up job this time for the state of Michigan, unlike some of the other state unemployment benefits systems it has handled (or mishandled) like Florida, Illinois, Colorado, and California. The state of Michigan last month reached a settlement in one of the class-action lawsuits against the agency for $20 million.

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Friday Footnotes: Know Your Value; Retired EY Partners Complain; ‘Rest For Success’ | 2.3.23

Going Concern

Ironically, Ergo’s auditor is Mazars, a big rival of Grant Thornton among the second tier of Irish accounting firms. Grant Thornton were auditors until McCann became Ergo’s chairman in 2015. When I went on the board here we had to resign as auditors.” When is he changing back? “Ha Ha ha,” he chuckles. Mazars do a good job.

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Sales tax and nonprofits

TaxConnex

Most states, like Michigan , require special registration for exemption. During a sales tax audit, one of the first requests from the auditor will be for copies of all exemption certificates for any exemptions claimed on sales tax returns. But as always with sales tax, rules vary state to state.

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Friday Footnotes: PwC Is Tops in M&A Advisory; What You Can Do With a MAcc; EY Consolidates in LatAm | 4.28.23

Going Concern

Audit Audit partners suffer after writing critical ICOs: study [ CFO Dive ] Audit partners who write adverse internal control opinions are more likely than their less critical peers to be pulled from an engagement and shifted to less prestigious, lower-fee client assignments, according to a study. There’s one problem.

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