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Friday Footnotes: PwC Scandal Somehow Gets More Scandalous; Deloitte Denied in Court; Withum Embiggens in Florida | 11.8.24

Going Concern

Municipal Messes Delayed audit finds ‘material weaknesses’ in Elton’s finances and procedures [ KPLC (Louisiana)] The town agreed to address such deficiencies including timely adopting an operating budget, hiring someone qualified to prepare financial statements, and submitting required paperwork to the Legislative Auditor’s Office by the due date.

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AICPA News – July 2025

CPA Practice

David Samayoa Alvarado (New York), a graduate of Ramapo College of New Jersey with a Bachelor of Science in accounting and a Bachelor of Science in finance, is employed with PricewaterhouseCoopers LLP in New York, NY. Employee Benefits Tax TRP Provide a Revenue Procedure related to Section 305 of the SECURE 2.0

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Tax Fraud Blotter: Getting personal

Accounting Today

West Long Branch, New Jersey: Resident Matthew Tucci has pleaded guilty to tax evasion. He underreported his taxable personal income, which resulted in his evading at least $1.9 million in income tax. Heaton was also ordered to pay a $95,000 fine and $1,947,906.79 in restitution, which he paid at sentencing.

Tax
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The state of the 'Big Beautiful Bill' and more

Accounting Today

Dan Hood (17:53): We tend to be focusing on New York. We know New York, but, Neil Fishman (17:57): But the big thing was Dan Hood (17:58): New Jersey, Illinois, California all have Neil Fishman (18:01): Similar places. They were all advocating for this and well now have to wait and see what the Senate does, if anything.

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Friday Footnotes: Baker Tilly Did What!?; Internship Ranking Winner Same As Last Year; Pillar II to Be a PITA | 10.25.24

Going Concern

NJ tells Clifton it can’t audit its finances until it has the money to do so [ NorthJersey.com (New Jersey, duh)] The state Department of Community Affairs has ruled that the city needs to wait to authorize a forensic audit of its finances until it has the necessary funds, which won’t be available until after Nov.

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Withum Team Members Honored at Innovate 100 by New Jersey Business Magazine

Withum

Withum is proud to share that Jim Bourke and Chris DeMayo were honored by New Jersey Business Magazine as part of their NJ Innovate 100 Celebration. The inaugural NJ Innovate 100 Celebration spotlights professionals dedicated to the progression of their industries and the overall innovative ecosystem in New Jersey.

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New Jersey Increased the Charitable Audit Threshold: What Does This Mean For You?

Withum

Governor Phil Murphy signed into law Bills S844 and S2533 which revised New Jersey financial reporting requirements with the Attorney General charities and excludes non-monetary in-kind donations, related to an organization’s tax-exempt purpose, from gross revenue for the purpose of reporting requirements. Contact Us.