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EY Accused Of Missing Alleged Wirecard Fraud

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According to emails seen by WSJ, the auditing firm knew of and had questions about the arrangements and was signing off on Wirecard’s financial results for years anyway. The money represented around a quarter of the total revenue the company had between 2016 and 2019.

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Friday Footnotes: Florida Man’s Tax Problem; Accountants Are Walking Out; BDO Assures on Tether | 2.10.23

Going Concern

Audit Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record [ Bloomberg ] A $4 billion accounting shortfall would typically raise alarm bells for an auditor. Somehow, a PricewaterhouseCoopers LLP affiliate didn’t catch it at Americanas SA.

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What ‘Patchwork’ eCommerce Taxes Mean For Black Friday – And Beyond

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You can bet, however, that they take the time to read through communications from tax authorities indicating that they are being audited or that they owe back taxes. Audits may increase as states share data with one another about smaller firms that log sales in several locations. Then the scrambling begins.