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Broker-dealer audit deficiency rates remain high

Accounting Today

EDT 1 Min Read Facebook Twitter LinkedIn Email The Public Company Accounting Oversight Board reported that deficiency rates remain high across examination, review and audit engagements for auditors of broker-dealers. Finally, audit engagement deficiencies increased across all firms. All rights reserved.

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Decisions 2024: The Opportunities for Accounting Firms Have Never Been Greater

CPA Practice

The Future Of Individual Tax Prep Is Brighter Than Ever While AI has been everywhere in the last few years, practical AI built into traditional platforms is being augmented by platforms to help with productivity. Sifting through what is in the market and coming to market, it is clear that tax preparation will be more profitable than ever.

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The accountant's advantage over technology in fraud prevention

Accounting Today

Their role transcends preparing financial statements; it includes guiding organizational behavior, promoting transparency, and fostering environments where ethical conduct becomes the norm. Accountants are not merely financial technicians; they are protectors of economic integrity. All rights reserved.

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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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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

The report also recommends that these private firms be limited to 400 partners, and that they be prevented from offering both audit and non-audit work – like consulting services – to the same client. The musician filed a complaint because the accounting firm’s employee failed to timely file tax returns from 2014-2018.

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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. That is effective for 2025 financial statements."

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Tax Fraud Blotter: Getting personal

Accounting Today

Bakersfield, California: Tax preparer Victor Cruz, 40, has pleaded guilty to helping Miguel Martinez, a Mexican national who was in the U.S. illegally, submit fraudulent individual federal income tax returns that claimed $25 million in refunds. All rights reserved. Sentencing is Oct.

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