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EY Gets Caught Up in Independence Violations Because Audit Partner Rotation Is For Chumps

Going Concern

Gigantic UK-based energy company Shell announced yesterday it will be updating its 2023 and 2024 Form 20-Fs “due to EY non-compliance with audit partner rotation rules” after EY UK told them they’d discovered a small audit partner rotation issue for those years.

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Understanding When a Retirement Plan Audit Is Required

Withum

Understanding when audited financial statements of a retirement plan are required to be attached to a Form 5500 is an important part of demonstrating fiduciary responsibility over the plan and preventing unnecessary fines for an invalid filing of the 5500.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

Training Hours for Audit Personnel. Experience of Audit Personnel. Average years of career experience of senior professionals in key industries audited by the firm at the firm level and the audited companys primary industry at the engagement level. Retention of Audit Personnel (firm-level only). across the firm.

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FP&A Reports Every Organization Needs to Succeed

Acterys

To help you succeed, we’ve put together a list of FP&A reporting essentials to quickly analyze financial data, create financial reports, and distribute that information among stakeholders. Financial reporting provides a retrospective view of your company’s financial status.

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How do you audit crypto? It starts with understanding how to report on it.  

ThomsonReuters

Blog home With the introduction of Accounting Standards Update 2023-08, Subtopic 350-60, the landscape for accounting, audit, and assurance of cryptocurrency is evolving. Unique audit risks related to cryptocurrency What is an auditors responsibility in crypto audits? What can accountants do to prepare for crypto audits?

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Inside GASB's far-reaching agenda

Accounting Today

In late 2023, GASB issued Statement 102 , "Certain Risk Disclosures," requiring state and local governments to provide financial statement users with information about specific risks when circumstances make a government vulnerable to a heightened possibility of loss or harm. It will probably come out in December.

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The AI-human partnership: How CoCounsel Audit is redefining excellence in modern auditing

ThomsonReuters

The audit profession stands at a transformative crossroads. As regulatory complexity intensifies and client expectations soar, audit professionals face mounting pressure from time-consuming manual tasks, increasingly intricate compliance requirements, and the persistent threat of burnout. The result?

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