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

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

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

JANUARY 20, 2023

“There’s a war for talent,” said Phil Whitman, CPA, CEO and president of Whitman Transition Advisors LLC, a consultancy that provides recruiting, M&A advising, and other services for accounting firms. PwC took over from KPMG in 2015 and was eligible to serve until 2034 subject to a competitive tender at the 10-year mark.

auditor 93

auditor Technology audit financial statements 93

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. The proposal also makes explicit that financial statement fraud is a type of noncompliance with laws and regulations.

auditor 52

auditor audit financial statements 52

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. Such suggestions are false. In response, commissioner Hester Peirce tweeted (X’d?) and Congressman Jason Smith, R-Mo.,

auditor 91

auditor Account accountant accounted 91

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. In the letter, Revolut requested changes to Reuters’ article on the financial statements, which the news agency declined to make.

auditor 99

auditor chartered accountant audit accounting and finance 99

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

Going Concern

JUNE 23, 2023

The CPA Journal ] Generation Z is beginning to enter the workforce, bringing with it a demographic shift that will affect every facet of American society, including the accounting profession. Expect 2023 enforcement against auditors to focus on quality control, culture, ethics and integrity. My concern is that it goes beyond KPMG.”

cpa firm 98

cpa firm CPA auditor North Carolina 98

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 112

auditor audit CPA accounting principles 112

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 92

CPA auditor Tax Account 92

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 95

auditor audit Entertainment Real Estate 95

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.

auditor 92

auditor audit CPA accounting principles 92

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. They can then act on that information, alerting clients to potential financial discrepancies before they can evolve into larger issues. By Steve Saah.

Technology 52

Technology CPA cpa firm accounting and finance 52

CPA Practice

JANUARY 17, 2024

Drawing inspiration from the customer-centric and digital experiences offered by modern companies, CPAClub was driven to address the profession’s staffing shortages and streamline outdated processes by upending the traditional CPA firm model. Traditional CPA and consulting firms’ approaches have become outdated and ineffective.

CPA 40

CPA cpa firm audit auditor 40

Going Concern

AUGUST 12, 2022

Hold Auditors Accountable for Complicity in Corporate Fraud [ Bloomberg Tax ] Unfortunately, since the fall of Arthur Anderson in the wake of the Enron scandal, the SEC and PCAOB have often failed to go after auditors playing fast and loose with the rules. Here’s how recruiters and career experts recommend that you proceed.

auditor 94

auditor Account accountant accounted 94

Going Concern

MARCH 15, 2024

The NYT report’s focus was that private auditors from large firms failed and consistently missed child labor law violations. Auditors moved quickly and left before children arrived for overnight shifts, or they were not sent where minors worked.

auditor 106

auditor audit cpas Iowa 106

Going Concern

MAY 5, 2022

Here’s a 2015 AICPA article that sort of cosigns my foggy recollection : The profession’s focus on the CPA pipeline has long been a priority. That will continue, with new approaches to attracting, engaging and inspiring the future generation of CPAs. Building relationships with academics. What can we extrapolate from this?

auditor 52

auditor audit cpas CPA 52

CPA Practice

JULY 9, 2023

Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner. AuditFile is the only complete, cloud-based, all-in-one engagement automation platform for public accounting professionals and internal auditors.

audit 111

audit auditor Technology financial statements 111

Anders CPA

JANUARY 9, 2024

FDICIA Requirements for over $500 Million in Assets After a bank has crossed $500 million in assets, the following additional FDICIA requirements will become effective: Comparative audited financial statements are due to the appropriate federal bank agency within 120 days after the fiscal year-end for non-public banking institutions.

auditor 64

auditor financial statements audit CPA 64

Withum

JANUARY 24, 2023

Although an independent financial statement audit may not gain the day-to-day attention of management the same way as growing revenue or projecting cash flows; for many, there will come a time when an audit becomes a vital part of the company’s lifecycle. Auditors can only work as quickly as the requested information is provided.

audit 69

audit auditor general ledger cpa firm 69

Going Concern

SEPTEMBER 20, 2023

Just kidding, it’s a guest post from Parker Skaats, CPA, an experienced government worker who’s here to pitch the joys of government work to the unwashed overworked masses. It’s not just about financial statements and ledgers. But in the halls of government auditing, the CPA is not all that common.

Government 121

Government audit CPA auditor 121

CPA Practice

FEBRUARY 17, 2023

As part of the Checkpoint Engage family of products, Checkpoint Engage Single Audit provides auditors a seamless experience for financial statement audits of local governments, nonprofits, school districts, and HUD engagements, along with a host of other Thomson Reuters Cloud Audit Suite industry titles and applications.

auditor 52

auditor audit accounting firms financial statements 52

CPA Practice

FEBRUARY 23, 2024

Auditors are poised to become crucial facilitators in the accounting and finance function’s adoption of AI and large language models (LLMs). Auditors are the Keystone for AI Integration The successful integration of AI has one essential requirement—a nuanced understanding of the model’s data origins and its interpretations.

audit 114

audit auditor accounting and finance Technology 114

CPA Practice

JUNE 13, 2024

The Public Company Accounting Oversight Board (PCAOB) on June 12 is seeking to replace an outdated auditing standard on substantive analytical procedures, used by auditors to compare an amount recorded by the client to an amount expected by the auditor to determine whether there’s a misstatement.

audit 52

audit auditor financial statements Legal 52

CPA Practice

APRIL 8, 2024

said in recent regulatory filings that it will keep BF Borgers, a Lakewood, Colorado-based accounting firm, as its auditor after starting to trade publicly late last month. A Canadian regulator said last year that BF Borgers violated its rules for auditors, while the U.S.’s Trump Media & Technology Group Corp.

audit 111

audit accounting firms auditor Account 111

Going Concern

MAY 23, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 57

Real Estate Account accountant accounted 57

CPA Practice

APRIL 29, 2024

Calling all public company executives, board members, auditors, financial analysts, and investors: The Public Company Accounting Oversight Board’s Investor Advisory Group (IAG) needs a favor. KAMs are selected from matters communicated with those charged with governance.

auditor 64

auditor audit financial statements Government 64

Going Concern

APRIL 29, 2022

ICYMI | The CPA Evolution Project Realigns the Professional Certification and Challenges Accounting’s Viability as a Stand-alone Major [ The CPA Journal ] Accounting—at least as an independent field of study—is becoming obsolete in today’s technology- and analytics-focused world. Less work for EY auditors?

auditor 52

auditor audit Account accountant 52

Going Concern

APRIL 1, 2022

ARB’s auditor Messrs BDO voluntarily resigns after failure to reach agreement on proposed increase of audit fees [ The Edge ] Expect to see a lot of this going forward: ARB Bhd on Friday (April 1) announced its auditor Messrs BDO PLT (BDO) has voluntarily resigned. Andrea Carr CPA (@andreacpa0) March 31, 2022. is it over yet?

auditor 52

auditor accounting jobs accountant jobs accounts jobs 52

CPA Practice

MAY 3, 2024

By Chris Morris, Fast Company (TNS) The auditor of Donald Trump’s Trump Media has been charged with “massive fraud” by the Securities and Exchange Commission (SEC), which says the company “undermined trust and confidence in our markets.” The company had also been approved as the auditor of the upcoming 2024 report.

audit 116

audit auditor accounting firms financial statements 116

CPA Practice

AUGUST 15, 2023

Snodgrass —failed to obtain audit committee pre-approval in connection with providing audit and/or non-audit services to issuer audit clients, in violation of PCAOB Rule 3520, Auditor Independence , and for two of the three firms (BPM and Plante Moran) PCAOB Rule 3524, Audit Committee Pre-Approval of Certain Tax Services.

audit 98

audit auditor accounting firms cpas 98

Going Concern

NOVEMBER 24, 2023

Accounting Education Disrupted [ CPA Journal ] Although emerging technologies have disrupted the entire accounting ecosystem in recent years, the education realm has been one of the areas hardest hit. Declining enrollments and decreased numbers of CPA candidates have presented formidable challenges for institutions of higher learning. .”

auditor 105

auditor audit tax return cpas 105

CPA Practice

JUNE 10, 2024

The Public Company Accounting Oversight Board (PCAOB) doled out $150,000 worth of total fines to a Plantation, FL-based CPA firm on June 10 for violations related to quality control, auditing failures, and missing Form AP deadlines. for the fiscal year ended June 30, 2021.

audit 52

audit cpas Florida auditor 52

CPA Practice

MAY 2, 2023

There is a brand-new section that debuted today in PCAOB inspection reports of audit firms, and it is devoted to auditor independence. “We The auditor independence section will appear in reports for PCAOB inspections completed in 2022, beginning with eight reports that were released on Tuesday.

audit 111

audit auditor financial statements 111

Going Concern

MAY 2, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 57

Real Estate Account accountant accounted 57

Going Concern

SEPTEMBER 29, 2023

CPA Exam Friendly reminder, deadlines to apply for BEC before the new exam in 2024 are quickly approaching. CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever Also, WTF? CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever Also, WTF? Did Exam Costs go up?

auditor 98

auditor audit New York CPA 98