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Friday Footnotes: CPA Exam Scares Accounting Majors Away; EY Loses Fees in China | 5.12.23

Going Concern

China’s Shift Away From Big Four Auditors Has EY Most Exposed [ Bloomberg ] Among the four biggest global accounting firms, Ernst & Young is likely to be the most exposed to Beijing’s crackdown on US-linked auditors, as it stands to lose about a 10th of its China revenue. 1, 2024, the Financial Accounting Foundation said.

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Friday Footnotes: Consulting Gets Bumpy for New Hires; Cities Sans Accountants; PCAOB Priorities | 4.21.23

Going Concern

It was among the 64 local governments and utility systems that S&P Global Ratings withdrew ratings for this month for failing to file financial information on time. The withdrawal is “catastrophic,” said Miranda Meginness, Marion’s auditor. In March, the company put Marion and 148 other entities on a negative credit watch.

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Guide to accountant responsibilities

ThomsonReuters

In general, an accountant’s job description includes common accounting tasks such as: Performing risk analysis evaluations. Recording expenses and preparing financial reports. Working with external auditors. Ensuring the accuracy of bookkeeping and that the bookkeeping is compliant with state and federal laws.

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Friday Footnotes: EY Cancels Christmas; A Very Sucky PwC Report; Should We Tax Robots? | 12.23.22

Going Concern

UK companies brace themselves for escalating battles with auditors [ Financial Times ]. UK companies are gearing up for conflicts with auditors next year as economic and political uncertainty add to the difficulty of signing off accounts and forecasting financial outlooks. Current rules don’t require this.

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