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Beware of Overly Optimistic Projections Used to Value a Business

RogerRossmeisl

Business valuation experts often rely on prospective financial statements when applying the discounted cash flow (DCF) method to value a private business interest. A recent New York statutory appraisal case provides a cautionary tale worth considering.

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PCAOB Punishes New York Audit Firm, Three Partners for Deceiving Inspection Staff

CPA Practice

During that engagement, he failed to test key internal controls over compliance and supplemental information included in the schedules supporting the broker-dealers financial statements.

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AI Startup That Went Bust Was Allegedly Actually Indians and May Have Inflated Revenue Too

Going Concern

Amid accusations of financial statement malfeasance, VerSe brought Deloitte in for an audit in 2024. Despite the risk of material misstatement, Deloitte said the company’s consolidated financial statements presented as true and fair. ” Defamatory even.

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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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Friday Footnotes: PCAOB Demands More Tedious Paperwork From Firms; PwC Partners Retire Early; KPMG Redeems Itself? | 11.22.24

Going Concern

Audit Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator [ Wall Street Journal ] Large accounting firms will have to submit financial statements annually to the U.S.

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Tax Fraud Blotter: Getting personal

Accounting Today

New York: Kingsley Uchelue Utulu, 38 of Nigeria, has been sentenced to 63 months in prison for his role in a hacking, fraud and ID-theft scheme targeting U.S.-based Rochester, New York: Business owner Gregory J. Sentencing is Oct. based tax prep firms, businesses and individuals. million and obtained at least some $2.5

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Friday Footnotes: AICPA Gets Around to Addressing Outsourcing; Prison-Bound CEO Updates His LinkedIn Hilariously; Big 4 Split | 10.11.24

Going Concern

News AICPA moves to amend financial statement standard [ CFO Dive ] Well this is a BFD! As part of its settlement with the New York attorney general, Tether agreed to submit quarterly reports on its reserves for two years. However, since Tether is not based in the U.S.

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