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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

Municipal Messes Delayed audit finds ‘material weaknesses’ in Elton’s finances and procedures [ KPLC (Louisiana)] The town agreed to address such deficiencies including timely adopting an operating budget, hiring someone qualified to prepare financial statements, and submitting required paperwork to the Legislative Auditor’s Office by the due date.

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Lovesac to Pay SEC $1.5 Million to Settle Claims of Hidden Expenses

CPA Practice

The scheme included Dellomo’s submission of a “false and misleading” management representation letter to Lovesac’s outside auditor, according to the lawsuit. The accounting problems came to light in April 2023, when Lovesac’s finance team found that approximately $2.2

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Inside GASB's far-reaching agenda

Accounting Today

EDT 18 Min Read Facebook Twitter LinkedIn Email GASB headquarters in Norwalk, Connecticut Courtesy of GASB Enjoy complimentary access to top ideas and insights — selected by our editors. The board has also formed a GAAP Structure Consultative Group. Thats another of our pre-agenda research items," said Black.

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Monday Morning Accounting News Brief: PwCers Will Fight You For Their AI; Federal Prison For Jilted Lover Who Swatted the IRS | 5.12.25

Going Concern

It’s also suing the auditing firm Baker Tilly, saying auditors missed signs of fraud. In Connecticut, an accountant decided to do a little COVID relief fraud : A Woodbridge man last week pleaded guilty to offenses connected to a scheme to defraud a COVID-19 pandemic relief program of more than $2.3

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On the move: HCVT hired CAS co-leader

Accounting Today

CANADA CPA Canada and FP Canada, Toronto, signed a new memorandum of understanding to enhance collaboration between the accounting and financial planning professions, offering professional accountants who are part of CPA Canada opportunities to enhance their credentials, along with improved access to FP Canada courses and conferences.

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On the move: RRBB adds partner

Accounting Today

CONNECTICUT FASB, GASB and FAF logos on the wall at headquarters in Norwalk, Connecticut Courtesy of GASB The Financial Accounting Foundation board of trustees announced it is seeking nominations for new members to join the Financial Accounting Standards Advisory Council for an initial one-year term beginning Jan.

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Recent Cases Show You Shouldn't Mess with Sales Tax Obligations

TaxConnex

The case was referred to investigators after an auditor found that the business hadn’t filed quarterly sales tax returns or remitted sales tax collected for that period. The company has paid nearly $69,000 in restitution for sales tax it collected and failed to pay to state coffers between June 2011 and December 2015.

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