CPA Practice

AUGUST 22, 2023

The Institute of Internal Auditors (IIA) – the internal audit profession’s leader in standards, certifications, education, research, and technical guidance worldwide – has approved Malta and Somalia as new affiliates to its global federation, further extending The IIA’s extensive international reach.

auditor 98

auditor audit Education CPA 98

CPA Practice

MAY 18, 2023

There’s plenty of accounting jobs out there that need to be filled— more than 300,000 accountants and auditors have left the profession in the past few years. But the AICPA said today it has a framework in place to fill that CPA pipeline back up.

CPA 98

CPA auditor cpas cpa firm 98

CPA Practice

MARCH 4, 2024

Auditors, like so many others today, are seizing the opportunity to transform how they work by adopting artificial intelligence. These findings make it critical for those of us in the audit profession to help the next generation understand the vision and opportunities that await those who choose this career path as auditors embrace AI.

auditor 69

auditor audit general ledger Technology 69

CPA Practice

FEBRUARY 28, 2024

Here’s some news from the labor market that’s both good and bad for CPA firm leaders and other employers of accounting and finance talent. The upside for CPA firms is that retaining talent should be a little easier, at least for the near term. If you were an in-demand accounting professional, would you want to join your CPA firm?

cpa firm 115

cpa firm CPA accounting and finance Finance 115

CPA Practice

JANUARY 24, 2024

If employee retention isn’t already a priority focus for your CPA firm, you may want to make it one — and soon. The latest Salary Guide From Robert Half reports that the CPA is a credential in high demand. So, there’s no time to waste in stepping up your retention efforts to hold on to valued staff at your CPA firm.

cpa firm 116

cpa firm CPA accounting and finance Finance 116

CPA Practice

APRIL 9, 2024

Bureau of Labor Statistics estimates employment of accountants and auditors to grow by about 4% each year through 2032, with an annual number of job openings expected to be about 126,500. The results are profound: more than 99% of the top CPA firm leaders in the US said they can’t adequately fill their staffing needs domestically.

cpa firm 122

cpa firm CPA Technology Legal 122

CPA Practice

SEPTEMBER 19, 2023

A proposal issued by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would hold auditors and others more accountable when they negligently, directly, and substantially cause their firm to violate auditing standards.

auditor 115

auditor audit accounting firms public accounting 115

CPA Practice

MARCH 8, 2024

The Institute of Internal Auditors is currently reviewing the U.S. For internal auditors, the final rule involves new areas of review and assurance to the board regarding compliance with the new rule. Securities and Exchange Commission (SEC)’s newly-issued Climate Change Disclosure Rule.

auditor 52

auditor audit Government CPA 52

CPA Practice

MARCH 7, 2024

The Institute of Internal Auditors is currently reviewing the U.S. For internal auditors, the final rule involves new areas of review and assurance to the board regarding compliance with the new rule. Securities and Exchange Commission (SEC)’s newly-issued Climate Change Disclosure Rule.

auditor 52

auditor audit Government CPA 52

CPA Practice

OCTOBER 2, 2023

However, it doesn’t mean CPA firms are finding it any easier to staff available positions — or hold on to the valued employees they already have in place. This finding is not surprising in a profession where unemployment rates for many in-demand roles, including accountants and auditors, typically trend well below the national average.

accounting and finance 128

accounting and finance cpa firm CPA Finance 128

CPA Practice

APRIL 7, 2023

In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.

accounting firms 139

accounting firms CPA Technology Account 139

CPA Practice

NOVEMBER 1, 2023

CPA firm leaders outlining staffing plans for the coming year can’t help but worry if they will hit their hiring goals. And unemployment rates for in-demand roles, like accountants and auditors, are typically well below the national average.

cpa firm 115

cpa firm CPA accounting and finance auditor 115

CPA Practice

APRIL 3, 2023

In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.

accounting firms 135

accounting firms CPA Technology Account 135

Going Concern

OCTOBER 20, 2023

Local CPA weighs in on accountant shortage [ WMDT ] The Salisbury, MD news spoke to a UHY partner about the issue. CPA at UHY Group Mark Welsh tells 47ABC that recruiting slowing down has meant firms are turning to AI, Bots, and international workers to help fill demand, raising prices as much as ten percent for end-users. Welsh said.

CPA 102

CPA quickbooks Real Estate auditor 102

Going Concern

JUNE 13, 2022

As I’m sure you’ve heard by now the profession is having trouble recruiting future CPAs. Those enrolled in the program will receive additional support for completion of the final parts of the CPA exam once they begin client work. KPMG CPA Kickstart launches this summer in 35 offices and so far 225 new hires are enrolled.

CPA 104

CPA audit auditor cpas 104

Going Concern

MARCH 25, 2024

Do you guys remember the Deloitte auditors in Canada who were busted changing the clocks on their computers to backdate workpapers ? Prior to the Engagement Management System (EMS) update in November 2016, Deloitte auditors were permitted to manually enter sign-off dates for both audit work and reviews. According to CPA Ontario, Ms.

auditor 111

auditor audit CPA 111

Going Concern

FEBRUARY 17, 2023

It was only a couple days ago that the Journal of Accountancy published an interview with NASBA CEO and President Ken Bishop in which Bishop sternly warns states against even thinking about lowering the CPA licensure requirement to 120 units, something something mobility blah blah. The MNCPA initiative does not lower the bar to become a CPA.

Minnesota 110

Minnesota CPA Education cpas 110

Going Concern

JUNE 29, 2022

With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.

auditor 115

auditor audit CPA accounting principles 115

Going Concern

MAY 19, 2023

GC ] Benjamin Wann, CMA, CSCA, MBA, PMP, CPA wrote a little something about the thing we all love to hate. Each received the same set of questions, aimed at measuring what share of crypto’s upper echelon employs a third-party auditor and has an independent board. Chinese companies switch auditors to avoid U.S. or Singapore.

auditor 99

auditor audit accounting and finance South Carolina 99

Going Concern

APRIL 7, 2023

Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. and overseas” seeking further explanation about the auditor’s opinion. Flexibility is your policy.

auditor 102

auditor chartered accountant audit accounting and finance 102

CPA Practice

APRIL 30, 2024

When you incorporate predictive analytics, generative AI and other advanced technologies into everyday workflows at your CPA firm, you are taking on much more than a technology upgrade. Improved client interactions with generative AI Generative AI also has a role to play in increasing your CPA firm’s ability to retain and attract clients.

Technology 52

Technology CPA cpa firm accounting and finance 52

CPA Practice

OCTOBER 10, 2023

As the scale of emerging technology risks facing companies continue to multiply, IT auditors play a key role in identifying these threats and helping their organizations to navigate them. A new survey conducted by Protiviti and The Institute of Internal Auditors (IIA) reveals which risks are keeping IT auditors up at night.

auditor 87

auditor audit Technology 87

Going Concern

MARCH 24, 2023

Reminder: you have until April 17 to weigh in on a proposal to extend the CPA exam window Practice Is it time for firms to transform their business model? Auditors have done so too. Auditors Are Demanding Concessions in Split [ Wall Street Journal ] Ernst & Young’s renegade U.S.

auditor 98

auditor audit Entertainment Real Estate 98

Going Concern

JULY 31, 2023

The PCAOB’s new rules would widen auditors’ responsibility to scrutinise whether a company is complying with laws and regulations, and to communicate more of their concerns to a company’s board of directors. and Congressman Jason Smith, R-Mo., ’ It doesn’t exist anymore,” Schweikert told The Center Square.

auditor 92

auditor Account accountant accounted 92

TaxConnex

OCTOBER 24, 2023

Still, many events can trigger an audit, such as one of your customers being audited and the auditor seeing one of your invoices without sales tax, industry audits where taxing authorities target specific industries, or perhaps just random bad luck. If possible, have an expert review your data/compliance process before the auditor arrives.

audit 147

audit Sales Tax auditor 147

Cherry Bekaert

MARCH 15, 2023

Author: Fred Nitting, Managing Director, Risk & Accounting Advisory Services Identifying the right internal auditor is a crucial business decision and professional CPA firms vary widely in terms of capabilities, resource availability, qualifications and much more. Ensure that you understand the answers they provide.

auditor 52

auditor audit cpa firm Education 52

CPA Practice

MAY 8, 2024

Given the severe auditor shortage in the USA, many CPA firms have expanded their adoption of outsourced auditors, increasing from 6% pre-pandemic to more than 40% at present. May 02, 2024 CPA firms are facing the twin challenges of managing a high volume of audit engagements and coping with the industry-wide talent shortage.

audit 52

audit cpa firm auditor CPA 52

ThomsonReuters

DECEMBER 17, 2020

With the recent rash of public company fraud issues that were missed both internally and by external auditors, there has been a lot of negative news coverage for the accounting industry. But what does this mean for small CPA firms who don’t perform audits? How public company fraud affects the small CPA firm.

cpa firm 95

cpa firm CPA audit auditor 95

Summit CPA

APRIL 5, 2023

Tammy has been with Summit CPA Group for nearly five years. She is a Senior Auditor here at Summit CPA Group. Every month we spotlight one of our employees so you can get to know us better. This month we bring you Tammy Cline.

CPA 52

CPA auditor bookkeeping Tax 52

Going Concern

JANUARY 9, 2023

A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.

CPA 95

CPA auditor Tax Account 95

CPA Practice

AUGUST 18, 2023

The Public Company Accounting Oversight Board (PCAOB) permanently revoked the registration of Denver-based accounting firm AJ Robbins CPA on Aug. Professional skepticism, independence, and cooperation with PCAOB inspections are fundamental to auditors’ responsibilities to protect investors.

cpa firm 52

cpa firm CPA auditor audit 52

RogerRossmeisl

JUNE 26, 2022

Originally issued in 2004, the purpose of the Audit Techniques Guide (ATG) was to offer guidance to IRS auditors auditing cost segregation studies. The post IRS Releases Updated Cost Segregation Audit Techniques Guide appeared first on Roger Rossmeisl, CPA. It does however provide an inside look at how the IRS views this subject.

audit 239

audit auditor CPA Tax 239

CPA Practice

JUNE 27, 2023

The proposal includes changes to update aspects of AS 1105, Audit Evidence , and AS 2301, The Auditor’s Responses to the Risks of Material Misstatement. Auditors use technology-assisted analysis in many audit areas, including those involving significant risks of material misstatement to financial statements due to error or fraud.

auditor 52

auditor Technology audit financial statements 52

CPA Practice

JANUARY 9, 2024

If employee retention isn’t already a priority focus for your CPA firm, you may want to make it one — and soon. The latest Salary Guide From Robert Half reports that the CPA is a credential in high demand. So, there’s no time to waste in stepping up your retention efforts to hold on to valued staff at your CPA firm.

cpa firm 64

cpa firm CPA accounting and finance Finance 64

Going Concern

JUNE 28, 2022

The SEC has fined EY a record $100 million after an investigation revealed auditors at EY were cheating on ethics exams (open book ethics exams we presume) and CPE; worse than cheating alone, they actively tried to cover it up and hide the cheating from the SEC. Well this is bad. So let’s just guess a lot.

auditor 93

auditor audit CPA accounting principles 93

Going Concern

MARCH 31, 2023

auditors who believe their part of the firm could end up weakened by a deal. accountants and auditors last year climbed at their quickest pace in recent years, but industry observers say increasing pay alone may not be enough to remedy a national shortage of accountants. John King and Frank Mahoney, senior U.S.

auditor 103

auditor audit Virginia Technology 103

CPA Practice

JUNE 7, 2023

The PCAOB on Tuesday introduced a proposal amending current PCAOB auditing standards related to the auditor’s responsibility to detect noncompliance with laws and regulations, including fraud, in the audit of a public company. Those very same investors are who we are here to protect. And that’s what we are doing today with this proposal.

auditor 52

auditor audit financial statements 52