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Kill the Audit Industry, Says Ex-Auditor

Going Concern

In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. billion in global revenue.

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What Are Indirect Rate Overhead Audits and When Is It Required?

Cherry Bekaert

Many government agencies require that A&E firms have their overhead rates audited. In this episode of Cherry Bekaert’s Professional Service Podcast, Brynn McNeil , an Audit Partner in the Firm’s Professional Services Industry practice, welcomes Mandy Grivnovics , an Audit Senior Manager in our Professional Services practice.

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Here’s How Much Audit Fees Have Increased in the Last Twenty Years Making Us Wonder Why Salaries Didn’t Do the Same

Going Concern

Audit Analytics has released “ A Twenty-Year Review of Audit Fees ,” an in-depth look at audit fee trends from 2002 to 2022 and there are some fun charts inside. Mainly we care about this one: In FY2003, average audit fees were $681,000; in FY2022, this number was $2,243,000. God bless Audit Analytics.

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How to enhance the audit experience

Menzies

Importance of an Audit A lot of business owners think audits are much of a muchness, however their quality can vary significantly. The annual audit is occasionally considered as a commodity purchase. Financial reporting council (FRC) The FRC is planning to tighten its ethical standards further to improve audit quality.

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IS YOUR Transport & Logistics COMPANY MISSING OUT ON R&D TAX RELIEF?

Menzies

The definition of R&D is much broader than many businesses imagine and despite less than 1% of all R&D claims being made by businesses in the Transport and Logistics sector, we have made a number of claims for our clients in this sector and believe many businesses are still missing out. Download our pdf version. Who qualifies?

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EY Reminds Us That Audits Provide ‘Reasonable Assurance,’ Not a Guarantee That Billions of Dollars Aren’t Hidden From the Balance Sheet

Going Concern

In its defence filed this month, EY said audits were designed to give “reasonable assurance” the accounts were not materially misstated but they do not guarantee this and do not absolve company directors of “primary responsibility for the accuracy of those financial statements”. “Whose statements are these?”

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Professionals on the Move – Jan. 2024

CPA Practice

MaloneBailey, LLP Welcomes Howie Tang, New Audit Partner MaloneBailey, LLP, a global, mid-market, public accounting firm based in Houston, Texas, recently announced that Howie Tang, CPA has joined the firm as an Audit Partner. Tang brings more than 13 years of public accounting and audit experience with large regional CPA firms.

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