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Monday Morning Accounting News Brief: FAR Isn’t That Hard If You’re Drunk; Late Muni Audits Piling Up | 3.10.25

Going Concern

New York Times tells the story of an industry accountant turned IRS auditor in Stalled Audits and a Skeleton Staff: Inside Trumps War on the I.R.S. ” Auditors note a major reason for the delinquent filings is a lack of adequate resources. OP 9 hours later: Just kidding I was drunk when I said that, it's hard.

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There Are Only Two Firms in Wyoming That Can Do Government Audits and One Can’t Do Its Job Because of Staff Shortages

Going Concern

Ten months after that story, here’s a specific tale out of Wyoming. According to the Press , there are only two firms in the entirety of Wyoming that can do government audits. That’s the most since at least 2018, and materially higher than the prior five-year average of 95 such moves, according to S&P data.

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What’s new in sales tax?

TaxConnex

Auditors slapped Amazon with some $12.5 The five states with the lowest average combined rates are (the still technically NOMAD state of) Alaska (1.82%) as well as Hawaii (4.5%), Wyoming (5.44%), Maine (5.5%) and Wisconsin (5.7%). million in taxes, penalties and interest for the first three months of 2016. BOI oh boy.

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Friday Footnotes: CPA Says Stop ERC Fearmongering; Deloitte Cussed Out For ‘Grueling Culture’; Worst Books Ever | 2.23.24

Going Concern

Patrick, now a resident of Cody, Wyoming, co-owned a media brokerage firm with her husband and hired an accounting firm to prepare business and personal tax returns for 2012 through 2014. Q: What advice would you give your student working on their first project as qualified auditor?

CPA
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Friday Footnotes: Bob Moritz Disappoints Us; ERC Window Slamming Shut; 2024 Sucks For Firms? | 3.22.24

Going Concern

Audit City Of Rawlins Opts To Select New CPA’s For City Audits [ Bigfoot99 News ] Here’s how much a city audit costs in Wyoming. What Role Should Auditors Play in Corporate Compliance? Even though partners don’t like it, creating a culture of accountability is a firm imperative, Rampe says. It’s not easy but it’s worth it.”

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Friday Footnotes: PwC Partners Get Played; Bad Accounting on the Rise; Getting to the Bottom of the Shortage | 9.1.23

Going Concern

Audit Battle lines drawn over auditors’ role in combating fraud [ AccountancyAge “Patisserie Valerie pushed the issue of auditor responsibility [for fraud detection] to the fore after so many accounting scandals.