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After $3.5 Billion Accounting Error, South Carolina Comptroller Could Be Ousted

CPA Practice

Harris, The State (TNS) After South Carolina Comptroller General Richard Eckstrom’s office made a multibillion mistake, a panel of Senate budget writers are suggesting the Republican be removed from his position and the office stripped of several responsibilities. In South Carolina, the comptroller general is an elected office.

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What’s new in sales tax?

TaxConnex

The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties. Auditors slapped Amazon with some $12.5 Amazon still liable.

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Friday Footnotes: RTO Isn’t Going So Great; KPMG Wins Something; What Auditors? | 5.19.23

Going Concern

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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Friday Footnotes: Big 4 Nixes Legal Practices; EY Looks the Other Way; Auditors Get Lectured Again | 10.14.22

Going Concern

PYA, a Top 100 accounting firm and one of the nation’s largest privately held healthcare consulting firms, is pleased to announce it is opening a seventh office location in Charlotte, North Carolina. A longer, meatier report from auditors was introduced over the past decade in both the US and Europe.

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150 Hour Rule: Let’s Keep Arguing About What Color the Drapes Should Be While the House is Burning Down

Going Concern

Apparently South Carolina has joined them. To summarize most of the article: barrier to entry, US workforce hemorrhaged 334,000 accountants and auditors in two years, pipeline pipeline pipeline, blah blah. And Julie Blaha, Minnesota state auditor: “This is now a severe shortage, and it is causing a tsunami of problems.

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What was new in September for state sales and use taxes

TaxConnex

Auditors reported problems with the Louisiana Sales and Use Tax Commission for Remote Sellers. South Carolina has issued an information letter updating local sales and use tax and exemption information for counties, as well as a sales and use tax chart for the Catawba Indian tribal government. Blue bayou. Director of Revenue.

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Friday Footnotes: Deloitte Partner Scammed By Other Deloitte Partner; Big 4 Legal Grows; A $3.5 Billion Error | 2.17.23

Going Concern

Audit Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority [ Wall Street Journal ] The Public Company Accounting Oversight Board is facing calls to be the regulator that brings supervision to bear on auditors of cryptocurrency companies, even as the majority of crypto businesses fall outside its jurisdiction. “It

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