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

Going Concern

The workers have viable ERISA claims based on BDO’s alleged failure to obtain the cheapest available share classes for certain plan investments, the US District Court for the Northern District of Illinois ruled Tuesday. Auditors have done so too. Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

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Best Practices for Managing a Sales Tax Audit

TaxConnex

The Sales Tax Institute reports that Maine, Illinois, California, Massachusetts, Wisconsin and Washington have been the most aggressive states in sending notices and audit requests. Auditors know that competitors tend to have similar business models and that some industries are more susceptible than others to tax deficiencies.

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Evolution of the Sales Tax Audit: Have Audits Changed with Economic Nexus?

TaxConnex

Bad luck for one, or a customer of yours undergoing their own audit might produce one of your invoices, resulting in the auditor possibly contacting you for an exemption certificate or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for a transaction that the auditor may think is taxable.

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The Beef Between the AICPA and Minnesota Over the 150 Hour Rule Heats Up

Going Concern

If a CPA in Minnesota serves clients in Illinois, they will need to do the following: Submit all college transcripts, experience verification documentation, and exam scores to NASBA to determine if the licensee’s initial licensure qualifications meet the requirements to practice in Illinois.

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A Certain Big 4 Firm Gets Another Chance to Screw Up a State’s Unemployment Benefits System

Going Concern

Hopefully Uncle D will do a bang-up job this time for the state of Michigan, unlike some of the other state unemployment benefits systems it has handled (or mishandled) like Florida, Illinois, Colorado, and California. We’re taking a look at that,” Ohio Auditor Keith Faber said. “I Forbes reported: Illinois spent $14.3

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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

Attorney General’s Office for Northern Illinois announced on Wednesday. Holdings Pty Ltd trading as Alkemade & Associates, has been charged on indictment in the County Court of Victoria in Melbourne with criminal offences for falsifying the signatures of registered company auditors on multiple documents.

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Here’s Everything We Know So Far About 2022 Accounting Salary Projections

Going Concern

Senior auditor: 1.6%. Auditor, 1-3 years’ experience: 2.2%. Entry-level auditor: 1.6%. Tax accountant, 1-3 years’ experience: 1.6%. Entry-level tax accountant: 2.6%. Audit and assurance services. Senior manager/director: 1.6%. Manager: 1.4%. Washington, DC; Maryland; and Virginia. salary increase over 2021.