CPA Practice

OCTOBER 10, 2023

This surge in demand for CPA services comes at a time when experienced public accountants are exploring alternative career options, and fewer graduates are entering the profession. Challenges in Public Accounting The public accounting sector faces unique challenges.

Technology 105

Technology accounting firms accountant accounted 105

Going Concern

JANUARY 12, 2024

Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. Long Reads How Auditor Deloitte Missed A Nigerian Company’s Massive Fraud [ Forbes ] Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. Tingo paid $1.6

audit 111

audit auditor Illinois CPA 111

Going Concern

NOVEMBER 14, 2023

Last month we took a look at the 2024 Robert Half Salary Guide to get an idea what public accounting salaries should be in the range of next year, today it’s a similar report from Addison Group and their 2024 Workforce Planning Guide. The guide covers several industries, we are of course only here for accounting.

accountant salary 111

accountant salary Account accountant accounted 111

Going Concern

SEPTEMBER 12, 2023

.” From today’s news release : The Securities and Exchange Commission today charged Alfonse Gregory Giugliano, CPA, the former National Assurance Services Leader at Marcum LLP, a public accounting firm, with failing to sufficiently address and remediate numerous deficiencies in Marcum’s quality control system.

audit 116

audit public accounting auditor Management Consulting 116

Going Concern

JULY 26, 2022

After a slow first quarter of 2022 , initial public offerings didn ’t take off in the second quarter either. In fact, the 46 IPOs in Q2 was the fewest since the first quarter of 2020 (38), and the $5.3 billion raised by those 46 companies that went public was the smallest amount since the first quarter of 2016 ($2.9

audit 97

audit auditor public accounting accounting firms 97

Going Concern

MARCH 30, 2022

The latest audit inspection results for Crowe show the 11th-ranked public accounting firm by revenue bombed 27% of the audits reviewed in the most recent PCAOB inspection cycle, but the firm was less bad in its 2020 report card than it was in 2019’s. Marcum auditors didn’t do too badly on audits of ICFR. Moss Adams.

financial statements 52

financial statements audit auditor public accounting 52

Going Concern

OCTOBER 20, 2023

PKF Mueller Joins Cherry Bekaert to Expand Chicago Market Reach [ PR Newswire ] Cherry Bekaert is pleased to announce the completion of an acquisition transaction with PKF Mueller, a full-service certified public accounting and business advisory firm located in the metropolitan Chicago area.

CPA 111

CPA quickbooks Real Estate auditor 111

Going Concern

MAY 5, 2022

Alternate title: If You Are an Accounting Student, Expect to End Up In Audit When You Graduate. Ever since early 2020 we have been forced to learn how to go without, not always an easy task in our always-connected, on-demand, two-day-delivery world. New accounting graduate hires are increasingly being assigned to audit — a shift of 11.5

auditor 52

auditor audit cpas CPA 52

Going Concern

SEPTEMBER 1, 2022

The numbers don’t lie: of 658,267 actively licensed CPAs in 53 of the 55 licensing jurisdictions, less than 1% are Black (2020 data), a number that has remained largely unchanged in 40 years. It wasn’t until 2015 that a woman became CEO of a Big 4 accounting firm for the first time. Accounting is miserable.

cpas 98

cpas cma Real Estate accounting and finance 98

Going Concern

NOVEMBER 11, 2022

‘There’s definitely an accountant shortage out there’: MBAs have become the go-to degree and companies are struggling to hire enough CPAs [ Fortune ]. About half of the financial executives surveyed said 2021 audits required greater effort to support than those in 2020. billion euros ($1.9

audit 98

audit auditor Louisiana cpas 98

Withum

FEBRUARY 23, 2022

The Standard was originally effective for audits of employee benefit plan (EBP) financial statements subject to the ERISA for periods ending on or after December 15, 2020, but was delayed one year to December 15, 2021 due to the COVID-19 pandemic. ERISA Section 103(a)(3)(C) Audits and the Auditor’s Opinion. What is Changing?

audit 84

audit auditor financial statements public accounting 84

Going Concern

DECEMBER 1, 2022

The authors compared accounting degrees to computer science degrees completed in the state of New York between 2010 and 2020 which is how we ended up with this chode. Between 2015 and 2020, the number of NYS licenses issued declined by approximately 20%. Let’s be real, that’s a huge reason.

accounting degree 65

accounting degree Account accountant accounted 65

Going Concern

OCTOBER 18, 2024

BDO was supposed to report an unusual transaction to the national Financial Intelligence Unit in 2020. SEC’s Dropped Auditing Charges Shows Damage of Jarkesy Decision [ Bloomberg Law ] The Securities and Exchange Commission’s recent decision to drop misconduct charges against a handful of auditors proves the SEC v.

audit 104

audit auditor New York accounting firms 104

Going Concern

SEPTEMBER 25, 2023

Specifically, Fulton continued to transfer money between accounts, issue checks and wires to Nix’s gambling clients who won large bets, and helped Nix obtain bank loans to facilitate the gambling business. Between 2010 and 2020, Fulton charged Nix approximately $336,645 in professional fees for his financial services.

tax preparation 105

tax preparation Gambling accounted Account 105

CPA Practice

MAY 10, 2023

These were the PCAOB’s very first inspections of Chinese-based audit firms— the audit regulator secured complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong last year, ending a decades-long stalemate. auditors to inspect the records of U.S.-listed

audit 110

audit auditor financial statements public accounting 110

Going Concern

NOVEMBER 30, 2023

Haoxin”), a mainland China-based registered public accounting firm, and four of its associated persons for violations that include issuing a false audit report, failing to maintain independence from their issuer client, and improperly adopting the work of another accounting firm as their own. auditing curriculum.

audit 65

audit auditor public accounting financial statements 65

Going Concern

MARCH 17, 2023

When evaluating the decision to pursue legislation, the MNCPA board focused on attracting students to the accounting degree and, ultimately, CPA certification. A meeting with Julie Blaha, the Minnesota state auditor, confirmed this issue in Minnesota.

cpas 98

cpas Education Minnesota accounting degree 98

CPA Practice

MARCH 4, 2024

While it’s unclear what exactly led to the mistakes in each of these cases, one major risk factor has reached crisis levels: a shortage of certified public accountants. The lack of help means current accountants’ hours and workloads can be grueling, upping the odds of mistakes and burnout. “If

accounted 77

accounted accountant Account cpas 77

Going Concern

SEPTEMBER 22, 2023

Miller was appointed vice president for finance in April 2020 and also serves as the university treasurer. Michael Harlow to Lead Cannabis Practice at CohnReznick [ INSIDE Public Accounting ] New York-based IPA 100 firm CohnReznick LLP (FY23 net revenue of $920 million) has named Michael Harlow as leader of its cannabis industry practice.

audit 109

audit accounting and finance Virginia auditor 109

Going Concern

JUNE 24, 2024

This does portray the status of internal controls in 2020, at the end of Fiscal Year 2021. And, some of it is trust, and some of it is compliance, and that’s why we have auditors come in and check our trust,” said Brigham. And, you know what? It’s not good. It’s not acceptable. Brigham was hired on in March 2022 and makes $100k a year.

Account 98

Account accountant accounted audit 98

Going Concern

DECEMBER 5, 2022

In an article for CoinDesk , Francine McKenna took a crack at why the FTX debacle happened, and like she always does when there ’s really bad accounting at a company going through a financial crisis, who are/were the auditors: It’s not clear why FTX commissioned two different audit firms to audit its 2020 and 2021 financial statements.

audit 52

audit auditor financial statements public accounting 52

Going Concern

FEBRUARY 24, 2023

For public accounting firms in Minnesota: Minnesota public accounting firms, no longer being able to practice freely across state lines, would need to provide advance notice and gain a practice permit before signing any client engagement agreement or providing any public accounting service.

Minnesota 98

Minnesota Illinois cpas CPA 98

Going Concern

JULY 26, 2024

The company already has a global mentorship program that has been around since 2020, but EY decided to pilot the smaller concept earlier this year with five pairs of staffers. She also founded Deloitte’s National Tax Accounting Group and helped create its Global Tax Accounting Group, which she is leading until her September retirement.

Oklahoma 106

Oklahoma audit South Dakota accounting firms 106

ThomsonReuters

JANUARY 28, 2021

In 2020, we saw a flurry of COVID-19-related activity at the SEC designed to help companies navigate the business impact of the pandemic. SEC reporting and disclosure impacted by some key 2020 focus areas. In November 2020, the SEC’s Division of Corporation Finance released CF Disclosure Guidance: Topic No.

audit 72

audit Legal auditor Government 72

Going Concern

MAY 18, 2022

While PCAOB inspection reports are only one indicator of how good or bad a public accounting firm’s audit quality is, it’s still pretty embarrassing when a firm gets a bad report card. BDO followed that up with audit deficiency rates of 39% (2017), 48% (2018), 42% (2019), and a p**s-poor 54.1% (2020).

audit 52

audit auditor public accounting CPA 52

ThomsonReuters

MAY 5, 2022

The HFCAA was enacted as a way to work through concerns around the inability of the PCAOB to conduct inspections of People’s Republic of China-based auditors of companies listed on US stock exchanges—especially given US investors’ increased exposure to China-based issuers over the past decade. Overview of the HFCAA.

Account 52

Account accountant accounted public accounting 52

CPA Practice

SEPTEMBER 14, 2023

Growth in Marcum’s public company audit practice has surged in recent years, primarily due to the SPAC-craze. Of the more than 860 SPACs that completed initial public offerings in 2020 and 2021, Marcum audited more than 400 of these transactions.

audit 52

audit auditor accounting firms public accounting 52

CPA Practice

NOVEMBER 25, 2024

Ray was appointed to her first term on the GASB in 2020. She is the former Colorado state auditor, having served in that role for 10 years. Prior to becoming a state auditor, Ms. Ray was the deputy state auditor for the Office of the State Auditor (OSA), for the state of Colorado.

Wisconsin 52

Wisconsin Colorado auditor Oregon 52

Going Concern

FEBRUARY 9, 2024

You gotta pay the piper,” Romeo Razi, a certified public accountant based in Las Vegas, tells CNBC Make It. The Use Of AI By Financial Executives And Their Auditors [ Forbes ] Artificial Intelligence (AI) is starting to have the capabilities to improve both financial reporting and auditing. accounting software?

Technology 104

Technology Colorado audit cpa firm 104

Going Concern

MARCH 11, 2024

We’ll be doing an article shortly, in the meantime here are some quotes from INSIDE Public Accounting : Bob Cedergren, MNCPA board chair added, “I can tell you from my own experience, through conversations with colleagues throughout the country and the members of the MNCPA, that we have a significant shortage of CPAs.

audit 65

audit Minnesota Account accountant 65

Going Concern

APRIL 20, 2022

As I snarkily mentioned last week , the AICPA has finally released its much-anticipated 2021 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits (or Trends , for short) report [PDF here ], a behemoth data dump of accounting industry stats first released in 1971 and released every two years since 2009.

Account 52

Account accountant accounted CPA 52

Going Concern

AUGUST 14, 2023

” Thomson Reuters has your back : The Public Company Accounting Oversight Board (PCAOB) released an analysis showing a concerning trend of increased audit deficiencies and noncompliance with PCAOB standards and rules. employs nine female and 14 male accounting partners. The firm, BST & Co.,

audit 52

audit Account accountant accounted 52

Going Concern

MARCH 25, 2022

The new publication includes some observations from PCAOB staff about how firms are leaning on such providers and suggests procedures for auditors to follow as they plan and perform audits. This was a 23 per increase – or $51 million – over the 2020 calendar year, when Deloitte enjoyed $214 million worth of federal business.

tax return 52

tax return audit auditor accounting and finance 52

ThomsonReuters

JULY 11, 2023

To meet the shortfall, the industry is looking to streamline accounting staffing requirements by deploying more tools, technology, and training to offset the need for accounting credentials and to tap into talent pools that are not accounting-based but can support the focus on client services and work with data to improve efficiencies.

Technology 73

Technology accounted accountant Account 73

inDinero Accounting

MAY 5, 2021

Do you know what tips off PPP auditors and investigators to potential fraud? Open for business since February 15, 2020, and have not permanently closed. ? That said, an outsourced CFO doesn’t have to specialize in financial auditing or be a Certified Public Accountant to lead your company through a successful finance audit.

audit 52

audit auditor accounting and finance payroll 52

Going Concern

OCTOBER 9, 2023

A joint parliamentary inquiry into the way the big four accounting firms are structured also heard on Friday that the scandal was “symptomatic of a structural problem” within the accounting sector caused by the tension between the firms acting to maximise profits while also being expected to act in the public interest.

Account 69

Account accountant accounted Iowa 69

Going Concern

MARCH 17, 2023

Restoring Exam credits expired during COVID would help address CPA shortage [ AICPA ] The accounting profession is confronted with a talent shortage, and reinstating CPA exam credits that have expired since January 1, 2020, could have an immediate impact on our CPA pipeline.

Government 97

Government Gambling audit CPA 97