Going Concern

JULY 22, 2022

EY’s UK arm drafts in Rothschild as $80bn break-up looms [ Sky News ] The British arm of EY, the accountancy firm, has drafted in one of the City’s top investment banks to advise on an impending $80bn break-up that will shake up the global accountancy profession. USF sues former accountant who embezzled $12.8

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Going Concern

APRIL 7, 2023

Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. ’s accounts drew scrutiny from regulators, the firm’s plan to secure a U.K.

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Going Concern

FEBRUARY 20, 2024

We have tried continuously to get better financial information – including trying to use our contractual audit rights – but were continuously rebuffed. What’s happening now is CPA Canada slashing 20 percent of their workforce of 400 people due in large part to losing those two provinces and the many, many chartered accountants in them.

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Menzies

DECEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. This means that these entities can provide less information in their financial statements, while still complying with accounting standards. This would reduce the accounting fees associated with the preparation of the accounts, and the amount of information in the public domain.

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Menzies

APRIL 19, 2023

Menzies LLP - A leading chartered accountancy firm. Overview of change for auditors: The changes to the standard require a much more granular based risk identification and assessment process, which means that auditors will have to significantly revise their audit approach in order to meet these comprehensive requirements.

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Menzies

JANUARY 7, 2024

Menzies LLP - A leading chartered accountancy firm. Read on to explore the nuanced complexities of AIF financial statements, where Menzies stands ready to guide, audit, and ensure compliance in this dynamic financial terrain. As you navigate AIF complexities, Menzies stands ready to be your dedicated partner.

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Going Concern

JULY 15, 2022

Back in May Australian Financial Review reported that 12 of the 422 KPMGers who took part in systemic exam cheating would be put through the Chartered Accountants ANZ individual disciplinary process. Update on investigation into internal training misconduct at KPMG Australia [ Chartered Accountants Australia and New Zealand ].

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Going Concern

JULY 17, 2023

I want to call special attention to this reaction from Mike Shaub, Auditing and Accounting Ethics clinical professor at Texas A&M and the guy we follow on Twitter for the hottest in ethics hot takes. The moral cowardice in public accounting worldwide just stuns me sometimes. SEC order on that here.

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Going Concern

SEPTEMBER 5, 2023

Also from AFR, Big 4 firms earn almost 100% of top companies’ audit fees : The big four accounting firms earned 99.3 per cent of audit fees paid by Australia’s 200 largest listed companies last year, a proportion described as “to be expected” in any competitive market. PwC, Deloitte, KPMG and EY audited 96.5

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Going Concern

MAY 30, 2023

Institute of Chartered Accountants in England and Wales (ICAEW) is hoarding the funds paid to it as a result of fines , writes Richard Murphy on his blog Funding the Future. It is time for the Institute of Chartered Accountants in England and Wales to put the fines paid by to [sic?]

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Menzies

FEBRUARY 12, 2024

Menzies LLP - A leading chartered accountancy firm. Significant announcements are usually reserved for the autumn budget, but with a general election coming up in 2024 will we see any big announcements from Chancellor Jeremy Hunt this March?

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Menzies

DECEMBER 7, 2022

Menzies LLP - A leading chartered accountancy firm. It is important to be clear whether a company carries out MiFID business, one that does will not be eligible for small company exemptions under the Companies Act and by extension will not be exempt from the requirement to obtain a statutory audit. lifetime ISA business.

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Menzies

DECEMBER 7, 2022

Menzies LLP - A leading chartered accountancy firm. The FCA Handbook also sets out in SUP 3 that a client money audit will be required. For further information, or to discuss your specific circumstances, please contact our Audit and Compliance team or via the below contact form. Essentially, CASS 7.10.7A

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Going Concern

JULY 28, 2023

Big 4 Deloitte joins fellow Big Four MOVEit victims PWC, EY [ Cybernews ] The New York City-based global auditing and accounting firm appeared alongside 55 other MOVEit victims named by the Cl0p ransomware gang Wednesday, but Deloitte says the impact on its systems is limited. since 2007.

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Going Concern

JUNE 3, 2022

Accountants well-positioned to capitalize on fintech [ Accounting Today ] Accountants are well-positioned to capitalize on the growing intersection between finance and technology, colloquially known as “fintech,” according to A recent report. Grier’s departure was announced in February, after she informed EY’s U.S.

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Menzies

AUGUST 12, 2022

Menzies LLP - A leading chartered accountancy firm. The measures will apply for accounting periods commencing on or after 1 April 2023. The UK Government has tabled draft legislation setting out new transfer pricing documentation requirements that will affect the largest UK businesses. Uncertainty for UK businesses.

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Going Concern

NOVEMBER 18, 2022

More than 150 retired EY partners have written to the accounting firm’s leadership objecting to the radical plan to split its consulting and audit businesses. KPMG blocked from Abu Dhabi audits as it elects new regional boss [ Financial Times ]. Bam is a chartered accountant and an outstanding South African.

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Going Concern

JANUARY 29, 2024

PricewaterhouseCoopers LLP, which had audited the direct-sales company since 1995, told the company in October that it didn’t want to continue. According to EY, she resigned as partner and never worked on the Asda audit. Tupperware hired the Big Four auditor on Jan. 24, it said in a Monday securities filing.

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Menzies

FEBRUARY 13, 2023

Menzies LLP - A leading chartered accountancy firm. It would appear that customs and international trade audits by HMRC are on the increase, focussing on import declarations made following Brexit, that is, since 1 January 2021, particularly where EU origin preference has been claimed, in order to assess and collect unpaid duty.

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Menzies

FEBRUARY 13, 2023

Menzies LLP - A leading chartered accountancy firm. It would appear that customs and international trade audits by HMRC are on the increase, focussing on import declarations made following Brexit, that is, since 1 January 2021, particularly where EU origin preference has been claimed, in order to assess and collect unpaid duty.

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PYMNTS

JULY 2, 2020

In response to 2019 claims, Wirecard hired auditing giant KPMG to clear its name. “There are clear indications that this was an elaborate and sophisticated fraud involving multiple parties around the world,” EY said, according to Reuters, adding that it had not yet completed its 2019 audit. ” Swift Blowback. .

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Menzies

JANUARY 18, 2024

Menzies LLP - A leading chartered accountancy firm. Also consider, when is the best time for your annual audit or for your AGM? In this article, we unlock some secrets to strategic financial planning for your retail business. Does that coincide with the year-end you have chosen?

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Going Concern

FEBRUARY 9, 2024

Artificial Intelligence: The long-awaited saving grace of the accounting profession [ The Arkansas Traveler ] According to research by Chartered Accountants Worldwide, accountants are consistently rated among the most trusted professionals alongside doctors and nurses, with around 80% of people trusting them to navigate the business world.

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Going Concern

OCTOBER 10, 2022

Louis County, MO Auditor’s Office, an auditor did just one audit in a year and gave herself a $5,000 raise. A 20-year-old woman is the youngest chartered accountant in the world. The PCAOB found ZERO deficiencies at PwC Canada , WTG. In the understaffed St. trees and rivers) to protect nature.

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Menzies

FEBRUARY 18, 2023

Menzies LLP - A leading chartered accountancy firm. All other process and procedure documents in support of the application must be retained and made available for the audit stage. HMRC audit Following application, HMRC will visit in order to verify the supplementary documentation provided. What is an AEO?

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Going Concern

JUNE 17, 2022

FRC chair promises new boardroom audit rules for UK companies [ Financial Times ] The UK accounting regulator’s new chair has warned that the government’s decision to drop extra oversight rules for company boards to tackle audit failure was a “missed opportunity”. appeared first on Going Concern.

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Menzies

JUNE 9, 2022

Menzies LLP - A leading chartered accountancy firm. Firms that are required to have a statutory audit under the Companies Act will also be required to obtain a specific annual audit confirming their compliance with the safeguarding requirements. Find out more on statutory audit requirements under the Companies Act.

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PYMNTS

JUNE 14, 2019

The scheme came to light as part of an internal audit and spanned 18 months, allegedly. reports that a chartered accountant who had served with Deloitte had billed for more than 90,000 pounds in fake Uber rides. And in another instance of fraud, this time with wheels, accountancydaily.co The scheme took place over three years.

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PYMNTS

JUNE 20, 2018

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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Going Concern

MARCH 25, 2022

PCAOB cautions firms on use of outside service providers for audit confirmations [ Accounting Today ] The Public Company Accounting Oversight Board issued a Spotlight publication Monday containing some observations and reminders for auditing firms about relying on outside service providers for electronic audit confirmations.

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Accounting Insight

AUGUST 9, 2023

Beyond ChatGPT: the future of AI in tax Rebecca Benneyworth MBE, Tax Lecturer & Consultant, Rebecca Benneyworth Chartered Accountants Tax authorities around the world are using Artificial Intelligence (AI) and data analytics to spot tax risks in ways that practitioners need to be aware of.

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Menzies

AUGUST 1, 2023

Menzies LLP - A leading chartered accountancy firm. Inoltre, nel Regno Unito viene introdotto un requisito aggiuntivo chiamato “summary audit trail” (SAT). Inoltre, nel Regno Unito viene introdotto un requisito aggiuntivo chiamato “summary audit trail” (SAT).

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VJM Global

JANUARY 5, 2023

Now, during assessment or audit, or investigation, the tax officers have noticed the difference in ITC appearing in GSTR-2A and ITC claimed in GSTR-3B. Action to be taken by Proper Officer during audit or Investigation or scrutiny. Instructions will apply only to the ongoing proceedings in scrutiny/audit/ investigation, etc.

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PANALITIX

AUGUST 23, 2020

We covered a lot of ground in a recent interview with Panalitix client Michael Burke of Burke Raftery Chartered Accountants. Michael started in audit with KPMG in Melbourne, Australia though he always planned to go into industry. Business Advisory in a Post-COVID Environment: An Interview with Michael Burke.

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Menzies

JUNE 17, 2022

Menzies LLP - A leading chartered accountancy firm. For SMEs who are considering reporting on ESG for the very first time, seeking advice from an audit professional is recommended, preferably one that has a good understanding of the business and its market already. Reporting requirements.

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Menzies

FEBRUARY 21, 2023

Menzies LLP - A leading chartered accountancy firm. One of the most time intensive requirements of being authorised by the FCA is completing Client Money Calculations. These are essential to ensure that were anything to go wrong, clients’ money is always protected.

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Menzies

MAY 10, 2022

Menzies LLP - A leading chartered accountancy firm. “Over the years Menzies have shown the technical expertise and professionalism we would expect in dealing with a group of our size, and his includes a range of experts outside of the core audit team. Download our pdf version. .

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