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. Education Sen. Seven percent are not sure.

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auditor audit cpas Iowa 112

Going Concern

MAY 19, 2023

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. Around half of the businesses surveyed currently engage an independent auditor to assess their finances, the findings showed. Chinese companies switch auditors to avoid U.S.

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Going Concern

MARCH 22, 2024

” Complying with the Corporate Transparency Act [ CPA Journal ] By now, CPAs should be aware of the Corporate Transparency Act (CTA), passed in 2021 and effective January 1, 2024. But until a deferral is confirmed, CPAs must consider which role they will serve for clients required to file when the CTA becomes effective.

Minnesota 98

Minnesota cpas audit CPA 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. It had 400 shops and employed about 12,000 staff before it disappeared from the high street. ‘7

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Going Concern

FEBRUARY 17, 2023

If I was a society CEO and I had some members who were having trouble hiring CPAs knocking on my door, I would be trying to react. The 150 hour rule is not a dam holding back a flood of people who would become CPAs if only 150 weren’t blocking the way. note: We agree. 03, subdivisions 3a, 6. Minnesota Statutes 2022, section 326A.03,

Minnesota 113

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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. The plan, which builds on earlier drafts to create a nationwide CPA pipeline strategy, will be presented next week at the spring meeting of the AICPA’s governing council.

CPA 98

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Going Concern

JANUARY 12, 2024

Long Reads How Auditor Deloitte Missed A Nigerian Company’s Massive Fraud [ Forbes ] Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. These issues were apparently not glaring enough for the company’s auditor, however.” Tingo paid $1.6 in 2021/22.

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audit auditor Illinois CPA 101

Going Concern

SEPTEMBER 6, 2023

Let’s note here quickly that many of the “anti-150” folks aren’t lobbying to abolish it completely but to offer alternative pathways such as Minnesota’s proposal to create a second pathway to licensure that would require 120 units of education and two years of experience. We needed to take some action.”

Minnesota 111

Minnesota South Carolina auditor CPA 111

Going Concern

FEBRUARY 24, 2023

That’s sort of what’s happening in the profession right now over proposed legislation in Minnesota that offers an alternative to the traditional 150 units of education required for licensure. The proposal would make it harder for Minnesota CPAs to practice across state lines, physically and virtually.

Minnesota 97

Minnesota Illinois cpas CPA 97

Going Concern

DECEMBER 1, 2022

Perusing The CPA Journal as one does when one is tasked with the onerous burden of reporting on happenings in a profession in which so few things happen, I saw this discussion on CPA Evolution by Nina Terranova Dorata, PhD, CPA and Vincent J. Between 2015 and 2020, the number of NYS licenses issued declined by approximately 20%.

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accounting degree Account accountant accounted 64

CPA Practice

MARCH 13, 2024

On a voice vote, the State and Local Government and Veterans Committee moved the bill, Senate File 1660 , to the Minnesota Senate Finance Committee, according to the Minnesota Society of CPAs, which has backed the legislation. It has instead created artificial barriers for Minnesotans to become CPAs. We need to move forward.

Minnesota 52

Minnesota CPA cpas accounting and finance 52

CPA Practice

AUGUST 9, 2023

“In the midst of an unprecedented talent shortage gripping our profession, private companies are struggling to find a trusted auditor and often turn to their tax or non-attest accounting firm for guidance,” says Brian Yujuico, vice president and senior chief auditor of AuditClub.

audit 52

audit Account accountant accounted 52

CPA Practice

AUGUST 15, 2023

MSPC CPAs These five firms were fined and sanctioned by the PCAOB for violating auditing rules and standards related to communications with audit committees. was fined $75,000 for auditor independence violations during six audits of three company employee benefit plans. 11 for breaking various auditing rules. Snodgrass, Mancera S.C.,

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Going Concern

DECEMBER 9, 2022

Britain’s biggest companies and their auditors are playing a £10bn game of musical chairs. Mandatory auditor rotation was introduced by the EU in 2016, aimed at eliminating supposed cosiness between companies and auditors. Companies “would need to continually educate new auditors on their businesses and risks”, it added.

CPA 88

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Going Concern

NOVEMBER 11, 2022

There’s definitely an accountant shortage out there’: MBAs have become the go-to degree and companies are struggling to hire enough CPAs [ Fortune ]. It’s just a tough subject area, and you need a fifth year of college education to qualify to sit for the CPA exam. Hopefully some of you got the day off.

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Going Concern

MAY 5, 2023

Entry-level CPAs in advisory practices are making $11,000 more than CPAs starting out in audit and tax, and $20,000 more than non-CPAs in advisory. The report says CPAs are generally paid more than non-CPAs, but the pay gap between the two shrinks when moving from entry-level to the manager level.

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Going Concern

SEPTEMBER 29, 2023

What CPAs can learn from Smucker’s [ Accounting Today Voices ] J.M. ” The updated version, issued on September 28th, removes problematic language which could be construed as indicating that internal auditors are not inherently trustworthy and unable to exercise due care in the performance of their duties.

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auditor audit New York CPA 105

Going Concern

JANUARY 29, 2024

In the column he referenced this ancient document (August 1993) entitled “The case for non-CPA owners in CPA firms.” Do firms want non-CPAs to be part of the ownership ranks, or is this strictly a rhetorical question? Tupperware hired the Big Four auditor on Jan. Let’s read a little bit.

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Going Concern

JANUARY 5, 2024

CPA Tom Janney Announces Retirement [ WJLE ] Local stories like these are so cute. Longtime local CPA Tom Janney has announced his retirement from the tax and accounting side of Janney & Associates, CPAs, PC, a business he started in 1992 but sold to another firm fourteen months ago. Happy trails, Tom!

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Going Concern

MARCH 11, 2024

Minnesota’s proposal to add a second pathway to CPA licensure that doesn’t require 150 hours of education is moving forward in the MN Senate. The work continues to grow but the supply of CPAs to do the work isn’t keeping up. … Who watches the watchmen—or, in Fortune 500 terms, who audits the auditors?

audit 64

audit Minnesota Account accountant 64

CPA Practice

FEBRUARY 6, 2024

AICPA Shares Plan to Strengthen Accounting Pipeline According to the American Institute of CPAs ‘ 2023 Trends Report, bachelor’s degree completions in accounting dropped 7.8% Meanwhile, 60% of firms surveyed reported that they expected to have the same or higher number of CPAs on staff in 2023 compared to 2022.

cpas 59

cpas CPA accounting careers Education 59

ThomsonReuters

JANUARY 18, 2024

Working with external auditors. CPA responsibilities to clients As a trusted advisor in an increasingly complex financial landscape, certified public accountants (CPAs) have significant responsibilities for the services they provide to their clients. Accountant vs. CPA vs. tax preparer: What are the differences?

Account 59

Account accountant accounted tax preparation 59

Going Concern

APRIL 5, 2024

Education School of Accounting will honor alums at Wilton T. Finance ] Aitzarelys Negrón, certified public accountant (CPA) and founder of Strategies and T.E.A., At that firm, I was an external auditor for almost five years, and in the final year, I was working in our Financial Accounting Advisory Services group.”

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Going Concern

APRIL 28, 2023

New Jersey Society of CPAs Awards $221,500 in Accounting Scholarships [ NJCPA ] The New Jersey Society of CPAs (NJCPA) awarded $221,500 in scholarships to 53 New Jersey-based high school and college students on April 27 at the Pines Manor in Edison. Education What can you do with a master’s degree in accounting? Forget an MBA.

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CPA Practice

SEPTEMBER 5, 2023

AICPA Updates Digital Assets Practice Aid, Adding Audit Guidance The American Institute of CPAs (AICPA), representing AICPA & CIMA, has updated its practice aid for accounting and auditing of digital assets, with added material on auditing.

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Going Concern

OCTOBER 11, 2022

These businesses have their financial advisory needs served by hundreds of thousands of small firm accountants and CPAs nationwide. This circle is caused by the power wielded by the Big 4 firms over educators in the form of accreditation in college accounting programs, administered by the AACSB. September 12, 2021. June 17, 2019.

Education 90

Education Account accountant accounted 90

Going Concern

JULY 24, 2023

A breakout quote from a recent graduate who identifies as Black/Hispanic explains a well-known problem with accounting education: “…it wasn’t taught to make it more engaging or make you more interested….it’s Shout-out to the peers who pursued accounting making sure everyone knows how miserable and full of regret they are.

Account 98

Account accountant accounted CPA 98

Anders CPA

NOVEMBER 1, 2022

CPAs and Anders 401(k) auditors Kim Moore and Karen Hill explained how plan sponsors could encourage employee participation, how to better optimize a plan for higher levels of participation as well as innovative ways to ensure compliance with federal requirements. Include auditing costs while planning for next year’s budget.

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audit CPA auditor payroll 52

CPA Practice

FEBRUARY 28, 2023

The American Institute of CPAs (AICPA) and CPA.com announced its 2023 Startup Accelerator cohort at a kick-off meeting held at AICPA headquarters in New York. Audit Sight – The company’s platform eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification.

E-commerce 52

E-commerce Technology Texas cpa firm 52

Going Concern

NOVEMBER 18, 2022

Meanwhile, Deloitte affiliates are at number 3 with 141 clients and Grant Thornton Bharat LLP associates have taken the fourth spot with 87 audits, as per the study of auditors of all listed companies. After 1,600 auditors combed through DOD’s $3.5 Teaching Accounting Students an Alphabet Soup of Technology [ The CPA Journal ].

Technology 80

Technology audit auditor accounting and finance 80

Going Concern

MAY 15, 2023

Virginia Society of CPAs is tackling the question “ is 150 too many? ” For nearly the past two decades, prospective CPAs in Virginia have had to undertake 150 hours of education before becoming licensed. But a declining CPA pipeline has accountants asking: Is the 150 now a barrier to becoming a CPA?

Account 52

Account accountant accounted cpas 52

CPA Practice

SEPTEMBER 19, 2023

The urgent message for CPA firm leaders is this: It’s already tough hiring and retaining CPAs , and the risk of losing staff at all levels of experience is high. So, if your CPA firm isn’t offering flexible work arrangements, you’re going to have a hard time attracting and keeping Gen Z workers.

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Going Concern

JANUARY 26, 2024

How AI is transforming audit [ Thomson Reuters ] In the past, auditors have heavily relied on manual processes to uncover risks in financial statements and business operations. This allows auditors to shift attention to more complex and strategic work, like interpreting results and offering experience-based insights to clients.

Account 118

Account accountant accounted audit 118

Going Concern

SEPTEMBER 22, 2023

Both Mendlowitz and his father, also a CPA, attended the CUNY school. Summing up Sid: The ultimate CPA and friend to all [ Journal of Accountancy podcast ] Plenty of CPAs can say they learned something from Sid Kess, who died last week at age 97. Williams said in a news release.

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audit accounting and finance Virginia auditor 92

Going Concern

APRIL 14, 2023

The firm had a contract to perform the 2022 year-end audit for $26,135, but in order to complete it, the CPAs had to spend a lot of time doing extra accounting work that the previous town employees had failed to do, it was stated. For the extra hours, an additional $6,040 was billed.

Tax 103

Tax auditor audit accounting firms 103

Going Concern

AUGUST 25, 2023

Adventist Auditors Gather in Copenhagen for Spiritual and Professional Renewal [ ANN ] Maryland legend Tom Hood was there! Anders CPAs + Advisors said Kelley’s job – which she started Wednesday – is to drive strategic growth, oversee expansion efforts and pursue new opportunities for community leadership.

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Ryan Lazanis

APRIL 18, 2023

Here’s chatCPA , a bot trained by CPAs that you can chat with for only $6/month: That being said: Advanced technologies like AI can assist and improve the work of accountants, but they cannot entirely replace them because of their inability to perform essential human skills such as judgment, communication, and critical thinking.

Account 96

Account accountant accounted Technology 96