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Friday Footnotes: A Billion Dollar AI Audit Startup; Oops, All Independence Violations!; Bipartisan Tax Vote | 2.2.23

Going Concern

PwC said on Monday that it had identified 129 breaches of independence rules affecting 74 clients and PCAOB inspectors had found a further one themselves while inspecting audit work in 2022. The figures were included in an update to PwC’s audit quality report, published on its website.

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Exit Opportunities: Quit Auditing and Start Influencing

Going Concern

That’s how much Tanvi Shah made in audit before she decided to quit Big 4 for good and make her social media side hustle a full-time gig. Insider has the details : Shah said that before giving up her corporate job, managing a side hustle felt like having a double life. £3,000 ($3,600) a month.

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The value of audit certification and what it means for tax firms

ThomsonReuters

Driven by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products, companies are increasingly setting their sights on ESG-related initiatives, such as audit certification. In fact, an article by global management consulting firm McKinsey and Co.,

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Marcum Adds Massachusetts Firm Powers & Sullivan

CPA Practice

Massachusetts-based Powers & Sullivan has a portfolio of services spanning accounting, auditing, and management consulting, with a specialized practice focused on auditing governmental entities. Marcum LLP has entered a merger with Wakefield, Massachusetts-based Powers & Sullivan, LLC, effective February 1, 2024.

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Monday Morning Accounting News Brief: Unintended Audit Consequences; The IRS Needs Experienced Accountants; PwC AI | 9.18.23

Going Concern

‘There is no work to balance’: how shrinking budgets, Covid and AI shook up life in consulting : Andrew* is a 63-year-old partner in a small consultancy in England who finds himself with too much free time and too little cash. Sierra, a 23-year-old associate in New York is feeling “horrible” pressure to perform so she is not laid off.

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Monday Morning Accounting News Brief: Bad Audit Haunts EY; Big 4 RTO in India; Why Can’t PwC Hire?? | 3.20.23

Going Concern

From Forbes’ America’s Best Management Consulting Firms : For the second year in a row, both Bain & Company and Deloitte were the most-recommended consultancies, with star ratings in all 32 categories. They were followed by Boston Consulting Group and McKinsey & Company, with star ratings in 31 categories.

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The SEC Has Charged Marcum’s Former National Assurance Services Leader With Being Ass at His One Job

Going Concern

The SEC previously charged Marcum for these quality control deficiencies and other violations, many of which were in connection with Marcum’s audit work for hundreds of special purpose acquisition companies (SPACs). Over 400 of these SPAC IPOs were audited by Marcum. The more appropriate question would be “how could he not?”

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