This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
2021 audit auditor 
CPA Practice
NOVEMBER 11, 2024
The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. auditing rules and for failing to cooperate with an investigation into those violations. 8 for repeated violations of U.S.
111 
TaxConnex
APRIL 28, 2022
In years past, auditors could show up at your door asking to look at your records. Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office.
245
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Maximizing Profit and Productivity: The New Era of AI-Powered Accounting
Book of Secrets on the Month-End Close
How To Break Digital Transformation Barriers And Accelerate AI Adoption
Forecasting Failures Are Costly: Heres How To Fix Them
TaxConnex
MAY 18, 2021
As we entered 2021, many industry experts believed that state? sales tax audits ?were sales tax audits to become more common over the next two years. sales tax audits to become more common over the next two years. of respondents said they believe audit levels?will ramping up audits remains?anecdotal,?but
246 
Accounting Today
NOVEMBER 14, 2023
Average audit fees increased by 4.6% from 2021 to 2022, and more auditors are using data analytics in their audits, according to a new report.
129 
Going Concern
DECEMBER 10, 2022
The PCAOB should be dropping the first batch of 2021 inspection reports soon, and as an appetizer before the main course, the audit cops issued a report Dec. 8 on how the 141 annually and triennially inspected firms did overall during the most recent inspection cycle, in which portions of 690 audits were reviewed. In Part I.B
121 
Going Concern
OCTOBER 18, 2024
Since 2021, the EU’s Corporate Sustainability Reporting Directive (CSRD), which requires large companies to report on their environmental and social impact, has compelled organisations to consider vastly more data points across the different functional areas of their organisation and supply chains. appeared first on Going Concern.
104 
Accounting Today
APRIL 19, 2024
Seventeen percent of comment forms in 2021 and 2022 contained auditor evaluation deficiencies, according to the PCAOB.
133 
Going Concern
DECEMBER 30, 2022
Next up on the PCAOB ’s hit list is EY, whose 2021 inspection report was released on Dec. The Black and Yellow had been slowly but surely not screwing up as many audits in recent years. We selected for review 56 audits of issuers with fiscal years generally ending in 2020. The most common Part I.A
105 
Going Concern
OCTOBER 19, 2022
The PCAOB has made it painfully clear that they are done pussyfooting around and sick of auditors not doing their jobs. Chair Erica Williams said in September the Board plans to use every tool at their disposal to bring the hammer down on naughty auditors and it seems that’s exactly what they’re doing.
111 
Going Concern
NOVEMBER 16, 2023
The Financial Education & Research Foundation (FERF) has released the findings of its 14th Annual Public Company Audit Fee Study , sponsored by Center for Audit Quality. The report is based on responses from 54 financial executives at public companies and an additional survey of 116 audit engagement partners.
119 
Going Concern
DECEMBER 21, 2023
Assuming no one but select audit partners actually read this crap, let’s take a look at how auditors should expect increased vigilance in 2024 so everyone can be better informed and stock up on KY. These include prior inspection results and the emerging risks pertaining to a particular audit firm or industry.
119 
Going Concern
NOVEMBER 8, 2024
The report also recommends that these private firms be limited to 400 partners, and that they be prevented from offering both audit and non-audit work – like consulting services – to the same client. However, the town claims it is not able to act on one of the recommendations by auditors. It’s free!
98 
Going Concern
JUNE 29, 2022
The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year , a period in which the number of companies going public was minuscule compared to Q1 of 2021. Marcum and Withum combined audited 49.3%
105 
Going Concern
JANUARY 6, 2023
Fat Joe’s favorite audit firm once again had a spectacularly horrible PCAOB inspection report. In the 2021 inspection of BDO USA, LLP, the PCAOB assessed the firm’s compliance with laws, rules, and professional standards applicable to the audits of public companies. As a result, BDO followed its 54.2% The most common Part I.A
98 
Going Concern
JANUARY 13, 2023
Of the six 2021 PCAOB inspection reports released before the holidays, we ’ve so far taken a look at five: PwC , Deloitte , EY, KPMG , and BDO USA. From 2016 until its 2020 inspection report, Grant Thornton had an average audit failure rate of about 21%. Seven of the 31 audits we reviewed in 2021 are included in Part I.A
105 
TaxConnex
FEBRUARY 27, 2024
For respondents, the staffing struggle also meant curtailing business growth (19.23%), more errors in sales tax calculation (17.58%), more frustration from existing staff (21.43%) and, perhaps scariest, a growing lack of confidence in being prepared for an audit (22.53%). million accountants and auditors in the U.S. There were about 1.65
264 
Going Concern
FEBRUARY 3, 2023
We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. From the report: The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. 435 in 2021) in monthly office rent. . 435 in 2021) in monthly office rent.
124 
Going Concern
FEBRUARY 15, 2023
The independent auditor for Adani Enterprises and Adani Total Gas is a tiny firm called Shah Dhandharia. 435 in 2021) in monthly office rent. The only other listed entity we found that it audits has a market capitalization of about INR 640 million (U.S. Shah Dhandharia hardly seems capable of complex audit work.
116 
CPA Practice
MAY 15, 2023
The Securities and Exchange Commission’s enforcement division cracked down on accounting and auditing rules violators in fiscal year 2022, as actions within that sector made up 15% of the 462 new or stand-alone cases initiated by the regulator last year, according to a new report from Cornerstone Research.
111 
CPA Practice
SEPTEMBER 20, 2023
billion—that was the total audit fees paid by the S&P 500 companies in fiscal year 2022, a record-high amount, according to a recent analysis from Ideagen Audit Analytics. However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S., in the U.S.,
105 
ThomsonReuters
JUNE 15, 2023
How is the growing focus on ESG affecting the audit profession? Auditors are having to expand the scope of their work as ESG is increasingly under the scrutiny of stakeholders and investors. As an area that is still developing, and – from an audit and accounting standpoint – still in its infancy, it can feel a bit like the Wild West.
96 
Going Concern
APRIL 7, 2023
Financial Times has reported that Financial Reporting Council head Sir Jon Thompson — who last year told firms complaining about audit fines to get gud (paraphrased) — has no sympathy for audit partners across the pond who can afford Ferraris but can’t afford the staff and training necessary to perform acceptable audit work.
98 
CPA Practice
AUGUST 15, 2023
Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. 11 for breaking various auditing rules. Snodgrass, Mancera S.C.,
98 
Going Concern
NOVEMBER 14, 2023
The PCAOB today announced settled disciplinary orders sanctioning Greece-based PricewaterhouseCoopers Auditing Company SA (PwC Greece) and its partner Nicos George Komodromos for violations of PCAOB rules and standards in connection with the audit of the 2016 financial statements of Aegean Marine Petroleum Network Inc.
118 
Going Concern
MARCH 24, 2023
Auditors have done so too. This has become a problem for German real estate company Adler Group as it battles waning investor sentiment in the wake of a short seller attack in October 2021. Auditors Are Demanding Concessions in Split [ Wall Street Journal ] Ernst & Young’s renegade U.S. Julie Boland, EY’s U.S.
105 
Going Concern
JULY 2, 2024
The other day, BDO USA released a press release entitled “BDO Strengthens Audit Quality Commitment with Addition of Second Independent Member on Audit Quality Advisory Council ,”the content of which strongly suggests that their next Public Company Accounting Oversight Board (PCAOB) inspection is going to be hot garbage.
116 
Going Concern
JULY 26, 2022
billion), according to a new analysis from Audit Analytics. Compared to Q2 of 2021, the number of traditional IPOs (including direct listings) declined by 75%, and the number of SPAC IPOs fell by 79%. Even though SPACs are going through a rough patch, public accounting firms that are SPAC auditing machines were kept the busiest in Q2.
97 
Going Concern
OCTOBER 14, 2022
KPMG UK has promoted a historically modest 25 new equity partners this year as it makes greater use of the salaried partner badge which it introduced in 2021. Big Four Audit Giants Shut Down Legal Operations in China Following ‘Regulatory Raids’ [ Law.com ].
98 
CPA Practice
APRIL 15, 2023
EY was considering splitting up its audit and consulting units to avoid suggestions of a conflict of interest between the two practices. Following a split, EY would have been able to advise companies for which it also acted as auditor. leader Julie Boland would have overseen the audit business. And the rules are tightening.
92 
Going Concern
JANUARY 12, 2024
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. These issues were apparently not glaring enough for the company’s auditor, however.” million in audit fees in 2022.)
111 
Going Concern
AUGUST 17, 2023
LLP, its CEO Nigel Bostock, and senior auditor Matthew Stallabrass for the firm’s deficient audit of music streaming company Akazoo Limited. million back in 2021 “for allegedly defrauding investors out of tens of millions of dollars in connection with a 2019 special purpose acquisition company (SPAC) business combination.”
98 
Going Concern
JULY 31, 2023
Currently KPMG, Deloitte and EY provide both consulting and audit to both the public and private sector. Originally they were just audit firms,” he said. Then the audit firms decided to create this problem by going off and doing their own consulting and the whole thing’s got out of hand.”
98 
ThomsonReuters
DECEMBER 9, 2020
It will come as no surprise after the year we’ve had: the growing risk of fraud in the 2020 year-end audit is real. A number of audit clients have been struggling to survive the COVID-19 pandemic. The period in which revenue is recorded, for instance, is something auditors will have to pay special attention.
83 
Going Concern
NOVEMBER 11, 2022
The next generation of accountants and auditors is in demand, but Ben Lansford, an accounting professor and director of the Master of Accounting program at the Jones Graduate School of Business at Rice University explained why some are hesitant. Audit Fees Rise Only 2.5%, But Audits Require Greater Effort [ CFO ].
98 
Going Concern
APRIL 7, 2023
Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. Last month, audit firm BDO issued a so-called qualified opinion for Revolut’s 2021 accounts.
105 
CPA Practice
MARCH 11, 2024
The results of The 2024 North American Pulse of Internal Audit Survey , from the Internal Audit Foundation, finds a growing profession, with Chief Audit Executives (CAEs) more than twice as likely to have increased staff (26%) than to have decreased staff (9%). These results point to a dynamic and evolving profession.”
95 
Going Concern
JANUARY 8, 2024
Hey remember the Bloomberg story last March about how staff shortages at audit firms were causing municipal credit ratings to tank ? S&P has placed 149 long-term, underlying and program ratings on a negative credit watch this year because the ratings company hasn’t received 2021 financial statements from the issuers.
126 
Going Concern
APRIL 30, 2024
It’s been almost six years since the Canadian government legalized recreational cannabis and ever since, a microcosm of financial reporting and auditing has been growing (no pun) beside it. Note that many companies switched auditors so not all fees listed went to the current auditor.) billion Canadian dollar ($3.7
111 
ThomsonReuters
JANUARY 3, 2023
Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?
59 
Withum
FEBRUARY 23, 2022
The AICPA Statement on Auditing Standards (SAS) No. 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. What is Changing?
84 
Going Concern
JANUARY 4, 2023
The last of the 2021 Big 4 PCAOB inspection reports belongs to KPMG, which has had the highest audit deficiency rate of the four firms for six out of the previous seven years —the lone exception being 2019. We selected for review 54 audits of issuers with fiscal years generally ending in 2020.
110 
Going Concern
SEPTEMBER 22, 2023
data center industry on the national economy between 2017-2021, adding $2.1 The 2023 Forum on Auditing in the Small Business Environment and on Auditing Broker-Dealers is set for Oct. The 2023 Forum on Auditing in the Small Business Environment and on Auditing Broker-Dealers is set for Oct. trillion to the U.S.
109 
CPA Practice
APRIL 7, 2023
In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. It can streamline workflows, reduce the chance of errors and alleviate stress for accountants by improving time-intensive work, which is critical during auditing crunch times. By Cameron White.
139 
CPA Practice
NOVEMBER 25, 2024
Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche. He joined the Governmental Accounting Standards Advisory Council (GASAC) in 2011 as a representative of the Government Finance Officers Association (GFOA) and served as chair from 2015-2021.
52
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content