article thumbnail

Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Going Concern

Stanton was licensed as a certified public accountant in New York in 1988 and had previously run his own firm. EY, KPMG and the fallout of two accounting scandals [ Financial Times Opinion ] It is not just shareholders that have become ever more cautious in the wake of one of Europe’s largest accounting scandals. Now Messod D.

auditor 89
article thumbnail

KPMG Gets Sued, Accused of Allowing Pirate-Like Activity at Credit Suisse

Going Concern

Discountenanced Credit Suisse stockholder Gregory Stevenson is suing 29 of Credit Suisse’s current and former directors and officers, the bank’s ex-auditor KPMG, and various KPMG henchmen on behalf of investors alleging the firm looked the other way while aforementioned directors and officers plundered the bank for more than a decade.

audit 105
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23

Going Concern

” 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.

auditor 92
article thumbnail

Which Firm Had the Most IPO Audit Clients In Q1 2022?

Going Concern

The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year , a period in which the number of companies going public was minuscule compared to Q1 of 2021. Of the 300 SPACs that completed a merger, 88% engaged a new audit firm.

audit 94
article thumbnail

Monday Morning Accounting News Brief: EY Wants to Buy; Losers Dump NFTs For Tax Purposes; CPA Demand in 2031 | 1.9.23

Going Concern

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 87
article thumbnail

If There Was a PCAOB In the Metaverse, It Would Probably Find a Bunch of Errors In Prager Metis’s Audits Too

Going Concern

In an article for CoinDesk , Francine McKenna took a crack at why the FTX debacle happened, and like she always does when there ’s really bad accounting at a company going through a financial crisis, who are/were the auditors: It’s not clear why FTX commissioned two different audit firms to audit its 2020 and 2021 financial statements.

audit 52
article thumbnail

BDO USA, Two Audit Partners Tagged with Fines for Breaking PCAOB Rules

CPA Practice

During the third quarter of 2018, AAC found that it had collected far less on accounts receivable than expected and determined that it needed to restate its 2016 and 2017 financial statements. In June 2020, AAC filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code, according to the PCAOB.

audit 52