CPA Practice

MAY 30, 2023

government’s financial statements. This resolution would promote greater transparency on the information included in the federal government’s financial report.

cpas

CPA Practice

OCTOBER 18, 2024

The Greater Washington Society of CPAs (GWSCPA) recently announced its list of board members and nominations for the 2024/2025 year. She manages the accounting department and ensures the timely and accurate preparation of monthly financial statements for the Association.

CPA

Going Concern

JUNE 10, 2022

previously were charged by the SEC for filing fraudulent financial statements prior to their bankruptcies and Nasdaq delisting. Hilbert with improper professional conduct for violating numerous professional standards in their third quarter 2017 interim review and 2017 annual audit of Sequential’s financial statements.

audit

CPA Practice

MARCH 8, 2023

The new corporate AMT applies a 15 percent tax to a company’s  adjusted financial statement income  (AFSI). AFSI is a company’s net income or loss reported on its applicable financial statements (AFS), such as a Form 10-K filed with the SEC, including tax and accounting adjustments.

income tax

Going Concern

OCTOBER 7, 2022

Financial Reporting Council (FRC) on Thursday announced it opened an investigation into accounting firm Mazars regarding its audit of financial statements at Studio Retail Group. Graham, Washington, man pleads guilty to tax fraud and aiding and assisting with false tax returns [ Department of Justice ].

Illinois

CPA Practice

JANUARY 23, 2023

Many experts predict that the years ahead will be fueled by financial fraud investigations and a heightened emphasis on the ability to conduct due diligence and ensure clear financial insights.

audit

CPA Practice

SEPTEMBER 12, 2024

They generally focus on providing reasonable assurance that the financial statements are free of material misstatement, whether due to error or fraud. Even if workers had more time, manual data gathering and analysis of every transaction is not cost-effective or fool-proof. Audits are not designed to catch fraud, per se.

forensic accounting

Going Concern

JANUARY 9, 2023

Deloitte announced today that Anna Taylor — former tax and economic policy principal advisor to Senate Majority Leader Chuck Schumer (D-N.Y.) — has joined Deloitte’s Washington National Tax practice as the deputy managing principal of the Tax Policy Group.

CPA

PYMNTS

MAY 12, 2020

In a filing with the Securities Exchange Commission (SEC), the board said the agency should not rely on the company’s recent financial statements, which are believed to be inaccurate. A special committee at Luckin hired Chicago-based law firm Kirkland & Ellis as counsel and FTI Consulting of Washington, D.C.

forensic accounting

MyIRSRelief

JULY 3, 2023

Businesses should be prepared to provide documentation supporting their ERC claims, including payroll records, financial statements, employment tax returns, and any other relevant records. What Documentation is Required During an ERC Audit? Can I Seek Professional Representation During an ERC Audit?

audit

Going Concern

JULY 31, 2023

The proposal comes amid frustration in Washington that audit firms are not living up to their duty to protect investors from wrongdoing by their clients. Non-audit arrangements are neither as rigorous nor as comprehensive as a financial statement audit, and may not provide any reasonable assurance to investors.

auditor

CPA Practice

DECEMBER 11, 2023

Agrees on Landmark Artificial Intelligence Rules ,” and The Washington Post’s “ E.U. Source: [link] Enhanced Financial Reporting and Auditing : AI will improve financial reporting and auditing processes. reaches deal on landmark AI bill, racing ahead of U.S.

Technology

PYMNTS

DECEMBER 12, 2019

10) during the American Institute of CPA’s (AICPA) annual conference, held in Washington D.C. Now, the SEC is urging businesses to disclose their supply chain financing arrangements in their Management’s Discussion and Analysis section of financial statements, reports said. The result could lead to masked debts, McCord warned.

Finance

PYMNTS

APRIL 2, 2020

In a filing with the Securities Exchange Commission (SEC) on Thursday (April 2), the board said the agency should not rely on the company’s recent financial statements, which are believed to be inaccurate. The coffee giant’s shares sank after Liu and several top employees were suspended for misconduct , according to Yahoo Finance.

Sales

Going Concern

MAY 26, 2023

Long Read How a Pandemic-Era Program Became a Magnet for Fraud [ New York Times ] Amid the onset of the pandemic in 2020, as large swaths of the economy went into lockdown, Washington set up various programs to help keep businesses and their workers afloat.

public accounting

Going Concern

SEPTEMBER 29, 2023

SPAC Audit Kings: How Soaring IPO Market Ensnared Marcum, Withum [ Bloomberg Tax ] The fortunes of two mid-sized accounting firms rose and fell with the SPAC craze, sending auditors into overdrive as they vetted the financial statements of a surge of blank-check companies hunting for Wall Street’s next big deal.

auditor

Going Concern

FEBRUARY 24, 2023

Spotlight on PwC’s Washington National Tax Co-Leader Rohit Kumar [ Bloomberg Tax ] Kumar advises clients on all aspects of domestic policy, including tax policy, so they can develop legislative strategies from both a technical and political perspective.

Technology

Going Concern

MARCH 15, 2024

KPMG layoffs by u/corpslave_1998 in Big4 Deloitte fights for another shot at $789M SHARKCAGE cyber contract [ Washington Technology ] Deloitte wants back into the competition for a $789 million Navy contract that was captured by Accenture. in that time.

auditor

Going Concern

NOVEMBER 14, 2022

A recent agreement between Washington and China allowing U.S. The NSA talks about what its accountants do on International Accounting Day : Todd and the Financial Reporting team relay important financial information to NSA’s overseers and others. “We

accounted

Cherry Bekaert

JUNE 5, 2024

While organizations are very well versed in the concept of materiality when it comes to financial statement presentation and reporting, it appears they are much less familiar with understanding and reporting on cybersecurity incident materiality, which goes above and beyond the reporting standard for financial statement materiality.

Legal

PYMNTS

OCTOBER 11, 2018

a faith-based online publisher in Washington, D.C., The indictment states that top executives from both companies created fraudulent financial statements approved by a fake auditor to secure around $10 million in loans from three financial institutions, which they claimed were to be used to buy high-end computer servers.

auditor

Going Concern

JUNE 17, 2024

ProPublica did a story on “how remote work and artificial intelligence are ushering in new kinds of fraud in state and local governments” and interviewed Washington state auditor Brandi Pritchard. As far as we can tell, it’s the largest government misappropriation [by an employee] in Washington state’s history.

accounted

Shay CPA

DECEMBER 7, 2022

Washington. Before you sign off for the last time, download or export the following: Financial statements. Beyond the unwelcome mail, you could also be subject to penalties. . Some of the particularly notorious states in this area include: California. New Jersey. New York (and New York City, in particular). Build a records log.

tax accountant

CPA Practice

APRIL 30, 2024

Better decision-making with advanced analytics Sophisticated data models and predictive analytics can help your team members identify financial trends, assess risks and provide more strategic advice to clients. operations, based in the Washington, D.C., The company has more than 300 locations worldwide. metropolitan area.

Technology

Withum

DECEMBER 6, 2022

With final estimated tax payments for the 2022 taxable year approaching, coupled with the need to issue audited financial statements, businesses will be forced to develop an approach to address R&E capitalization. What This Means for Your Company.

Tax

Going Concern

MAY 13, 2022

office is ‘buzzing’ [ Washington Business Journal ] This article is behind a serious paywall but the sentence we can read without a subscription got a laugh out of me: “We’re not requiring them to be in offices X number of days a week, but they are choosing to be here,” a PwC executive said Thursday. .

auditor

Going Concern

APRIL 1, 2022

Elaborating on the reason for its auditor’s resignation, the software and platform provider said in a bourse filing: “We could not reach a consensus on the proposed increase of the audit fees covering the financial statements for the 18 months ending June 30, 2022 of the company and some of its subsidiaries.”.

auditor

Going Concern

MARCH 16, 2022

The SEC’s order instituting a settled administrative proceeding finds that an Ernst & Young subsidiary [Washington Council EY] lobbied congressional staff on behalf of two audit clients. Ernst & Young agreed to pay more than $4 million to settle the charges. March 9, 2012). The SEC is Not Pleased With KPMG’s Independence (Jan.

audit

PYMNTS

MAY 5, 2018

Morgan Stanley’s Adam Jonas called it “the most unusual call I have experienced in 20 years on the sell-side,” according to The Washington Post. We have a whole industry in the accounting profession whose aim it is to produce financial statements. What happened? The Great “Boneheaded” Question Conflagration.

accounting and finance

Baruch Lev

NOVEMBER 11, 2021

Do you think that there are other products that could take the place of an audit, such as financial statement insurance offered by insurance companies, or having the stock exchanges decide and pay for the audits of companies that they think need them for some reason? So we’re on to another subject, further down the I-95 Corridor.

audit

Cherry Bekaert

FEBRUARY 2, 2024

history after the 2008 failure of Washington Mutual and was seen as a sign of trouble for the broader technology sector. The technology sector was rocked early in the year with the March 2023 failure of SVB, widely recognized as the lender and deposit institution of choice for both start-up and mature technology companies. However, the U.S.

accounting and finance

Going Concern

FEBRUARY 27, 2023

“IRS tech is so ‘archaic’ the agency struggles to find people to work it” from The Washington Post : The Internal Revenue Service, which funds nearly everything the federal government does, uses information technology that is creaking with old age. From FloQast : Six in ten (63%) U.K.

Technology

Going Concern

AUGUST 12, 2022

The accounting giant failed to act with the “requisite professional scepticism” and did not obtain “sufficient appropriate audit evidence” in its work on BT’s 2017 financial statements, which had to be adjusted by £513m because of the Italian scandal, according to the Financial Reporting Council (FRC). PwC fined nearly £1.8m

auditor

Going Concern

DECEMBER 13, 2024

These deals must not result in a significant culture shift away from its focus on audit quality, SEC Chief Accountant Paul Munter said in an interview with The Wall Street Journal at a conference in Washington, D.C.

auditor

Going Concern

FEBRUARY 19, 2024

Fun President’s Day fact: although the third Monday in February is meant to recognize the birthdays of both first president George Washington and original hipster Abraham Lincoln, only Washington’s birthday — February 22 — is officially recognized in federal law ( 5 U.S. Everyone’s out buying mattresses.

auditor

Going Concern

JULY 24, 2023

We got incorrect financial statements, missed payroll and created confusion for our customers. Over half of CEOs surveyed are evaluating or experimenting with Generative AI while another 37% are at limited production use or pervasive adoption. It would have been easy to pass the blame, make excuses or dump the problem on someone else.

accounted

Going Concern

JULY 15, 2022

SEC’s Gensler Casts Doubt on Prospects for China Audit Deal [ Wall Street Journal ] Securities and Exchange Commission Chairman Gary Gensler expressed doubt Wednesday that negotiators in Washington and Beijing will reach an agreement over audits that is necessary to prevent Chinese companies from being delisted by U.S. stock exchanges.

auditor