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Friday Footnotes: Deloitte’s Naughty Workpapers; Audit Reform Critics; Clients Getting Dropped Like Mics | 3.4.22

Going Concern

Deloitte considers Russia pull out as pressure grows on western firms to exit [ Financial News ] Deloitte is considering pulling out of Russia, becoming the first Big Four audit firm to do so as pressure grows on Western companies to cut ties with the country following its invasion of Ukraine.

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When a Bank Fails, People ‘Lose Faith’ in the Auditors

Going Concern

Are bank failures bad PR for the firms that audit them? Via KU (Kentucky University) News : The word “audit” has a different meaning depending on whether you’re an individual or a bank. But a perceived audit failure can have equally damaging consequences. “We

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Can Accounting Reports Really Be Beautiful?

DuctTapeMarketing

 Services Online Audit. Tyler Nay is presently a senior operations accountant at Watco Companies, LLC, a transportation company based in Pittsburg, Kansas. Services Online Audit. Strategy First. Marketing Training for your team. Website Review. Local Marketing System. Professional Services Marketing. A la carte SEO. Websites. Pay Per Click. Guides Local Marketing. Professional Services. Consulting Business. Marketing Strategy Plan. Content Marketing. Customer Journey.

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Promotion Watch ’22: Grant Thornton Admits 38 New Partners and Principals

Going Concern

By service line, advisory accounted for the largest number of PPMD promotions (46%), followed by audit (30%), tax (20%), and internal services (4%). Audit. Audit. Audit. Audit. Kansas City, Mo. Audit. Audit. Audit. Audit. Audit.

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Handling Sales Tax In-House: Job Market Challenges Continue

TaxConnex

Arkansas, Kansas, Pennsylvania, Tennessee, Texas and Florida were the latest states to report sales tax revenue shattering predictions. Can audits and stricter enforcement be far off?

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Do you really understand economic nexus for sales tax?

TaxConnex

Louisiana worked to streamline its notoriously confusing sales tax environment; and Kansas?set Now that the pandemic helped them discover just how lucrative sales tax can be, states and jurisdictions are also intensifying sales tax investigations and audits.

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Friday Footnotes: Higher Salaries Lead to Higher Fees; EY Auditors Quit; Senator Rags on Greedy Accounting Firms | 1.27.23

Going Concern

As the watchdog’s delayed ruling into EY’s controversial audit for the disgraced German payments firm approaches, four current and former employees this month resigned from the country’s chamber of public accountants, the WPK.

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What's New in State Sales and Use Taxes - Monthly Update

TaxConnex

million, or 21.6%, over last year’s total; Kansas sales tax revenue hit $224 million in December, $4 million over predictions; Pennsylvania collected $1.2 There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates.

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What happened in sales tax in 2022

TaxConnex

Kansas batted around eliminating the state sales tax on some hygiene products and Virginia discussed exemptions for food and personal hygiene products.

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Monday Morning Accounting News Brief: Gen Z Ruins Accounting; EY Hammers Out Some Deets; Internal Control Controversy | 12.05.22

Going Concern

Controversial internal control audit improve operational efficiency for small firms, study finds : “Regulators keep exempting more firms from complying with internal control audits because of the costs,” said Chan Lin, the C.A. How is it December already?

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Payroll problem tax debt relief – get professional representation

MyIRSRelief

The consequences can range from, levying your bank accounts, auditing your company’s tax account to filing criminal charges. Audit tax records – If the IRS determines that a company has not fulfilled its tax obligation, the first thing that they will do is perform an audit to determine the full extent of the payroll employment tax bill. Once the official audit is completed the appropriate penalties will be determined.

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Report on ERISA Enforcement Identifies Common Violations, COVID-19 Challenges, and Regional Compliance Projects

ThomsonReuters

The GAO explains that it undertook the study because effective oversight and enforcement are critically important to the integrity of the private employee benefit system, and much has changed since its last performance audit of EBSA in 2007.

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Let’s Bid EY U.S. Chair Kelly Grier a Fond Going Concern Farewell

Going Concern

It was a pledge to recommit to “EY Values” (which they didn’t go into detail on) and had an emphasis on cheating (probably having to do with WBLs…or auditing cash). Remember that lame EY commercial that aired during Super Bowl LV between the Kansas City Chiefs and the Tampa Bay Buccaneers?

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H&R Block Inks Tax Software Partnership With Walmart

PYMNTS

The tax company noted its services would provide Walmart customers with competitively priced products, free in-person audit representation, unlimited tax advice through live chat, up to five free federal returns and tax identity care, among other features. The Kansas City Business Journal reported the executive was behind the “Get Your Billions Back, America” campaign, and also helped cement a sponsorship of the National Basketball Association (NBA).

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As The Online Tax Man Cometh, Will Smaller Retailers Embrace Marketplaces?

PYMNTS

Kansas is an outlier with no thresholds in place — which means every business selling into the state is mandated to collect and remit sales tax. You have to understand the nuances between South Dakota, California, and, say, Kansas, which has a ‘zero’ nexus.”. As a result, audits and penalties may loom. More than 230 million U.S. consumers are expected to be shopping online by 2021.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

Orlando, Tempe, Cleveland, Philadelphia, Indianapolis, Pittsburgh, Chicago, Kansas City, Greensboro, Westminster (L.A.), Wall Street is a tough master, especially for eCommerce companies.