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2021 auditor CPA 
CPA Practice
APRIL 7, 2023
Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis.
139 
CPA Practice
APRIL 3, 2023
Despite high demand for CPAs, accounting firms struggle to hire accountants. In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis.
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The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
Fall In Love With the Month-End Close
Building a Business Case for Finance Automation
Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape
TaxConnex
FEBRUARY 27, 2024
million accountants and auditors in the U.S. More than 300,000 accountants quit their jobs between 2019 and 2021, data show.” Are they experienced with auditors? “There were about 1.65 in 2022, up 1.3% from the previous year but down 2.6% from 2020 and down 15.9% What’s their customer service?
264 The New Way CPAs are Delivering Value: Aligning Automation with Client Success
Profit in the Details: Rethinking Spend for Monumental Impact
Fall In Love With the Month-End Close
Building a Business Case for Finance Automation
Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape
CPA Practice
JANUARY 17, 2023
In the last few years there has been a shortage of critical skills with regards to the accounting profession and especially in the output of North American and European professionals with CPA, EA and CMA qualifications. This is where skilled CPA, CMA AND EA professionals shine. Each state’s Board of Accountancy issues the CPA license.
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TaxConnex
DECEMBER 21, 2021
Hiring is on the minds of many executives as we end 2021. And it’s especially hard to find professionals who know taxes: Finding qualified staff is an enduring, front-burner concern that continues to challenge even CPA firms this year. Are they experienced with auditors? The Great Resignation saw a record 4.4
245 
Going Concern
JANUARY 9, 2023
A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.
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Going Concern
MARCH 24, 2023
Reminder: you have until April 17 to weigh in on a proposal to extend the CPA exam window Practice Is it time for firms to transform their business model? Auditors have done so too. Auditors Are Demanding Concessions in Split [ Wall Street Journal ] Ernst & Young’s renegade U.S.
105 
Going Concern
APRIL 12, 2024
ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? the auditor of Tesla Korea, about the company’s financial statements for last year.
105 
Going Concern
OCTOBER 20, 2023
Local CPA weighs in on accountant shortage [ WMDT ] The Salisbury, MD news spoke to a UHY partner about the issue. CPA at UHY Group Mark Welsh tells 47ABC that recruiting slowing down has meant firms are turning to AI, Bots, and international workers to help fill demand, raising prices as much as ten percent for end-users. Welsh said.
111 
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. Flexibility is your policy.
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Going Concern
JULY 31, 2023
The PCAOB’s new rules would widen auditors’ responsibility to scrutinise whether a company is complying with laws and regulations, and to communicate more of their concerns to a company’s board of directors. and Congressman Jason Smith, R-Mo., ’ It doesn’t exist anymore,” Schweikert told The Center Square.
98 
Going Concern
MAY 12, 2023
According to Accountancy Age’s latest 50+50 report, in 2022, the average staff attrition rate rose to 17.89% across the sector, compared to 14.69% in 2021. Fired: job search or CPA exam? The post Friday Footnotes: CPA Exam Scares Accounting Majors Away; EY Loses Fees in China | 5.12.23 The accountancy sector is no exception.
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CPA Practice
NOVEMBER 11, 2024
Over a period of several years, JTC Fair Song CPA Firm, a public accounting firm located in Shenzhen, the People’s Republic of China, repeatedly failed to make required filings in accordance with PCAOB rules, the audit regulator said. 8 for repeated violations of U.S.
111 
Going Concern
MAY 20, 2024
Illinois CPA Society has issued a new pipeline report: Re-Decoding the Decline. The findings provide invaluable insights the CPA profession and its stakeholders cannot ignore while trying to counter the persistent decline in the number of individuals pursuing the CPA credential. Can someone send us those slides ?
105 
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.” in 2021/22. Tingo paid $1.6
111 
Going Concern
SEPTEMBER 1, 2022
Last week, we published a letter written to Fortune by a former CPA who pivoted to driving 18-wheelers and found far more career happiness than he ever would have in accounting (good for him). Accounting and being a CPA have been the worst personal decision and professional organization I’ve been a part since passing.
98 
CPA Practice
AUGUST 15, 2023
Snodgrass —failed to obtain audit committee pre-approval in connection with providing audit and/or non-audit services to issuer audit clients, in violation of PCAOB Rule 3520, Auditor Independence , and for two of the three firms (BPM and Plante Moran) PCAOB Rule 3524, Audit Committee Pre-Approval of Certain Tax Services.
98 
Going Concern
SEPTEMBER 29, 2023
CPA Exam Friendly reminder, deadlines to apply for BEC before the new exam in 2024 are quickly approaching. CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever Also, WTF? CPA Exam Candidates: You Better Hurry Up and Apply For BEC Before It’s Gone Forever Also, WTF? Did Exam Costs go up?
111 
CPA Practice
AUGUST 6, 2024
Sikich Visionary Scholarship in partnership with the Illinois CPA Society (ICPAS) to honor the firm’s founder, Jim Sikich. He is also a certified public accountant (CPA), certified fraud examiner (CFE), certified anti-money laundering specialist (CAMS), and certified internal auditor (CIA).
105 
Going Concern
FEBRUARY 2, 2023
“Accountants and auditors are to business as those people in the black-and-white-striped shirts are to sports. But I believe the curriculum realignment anticipated by the CPA Evolution Project will only lead to an even faster decline in enrollments if accounting remains siloed as a stand-alone major.
105 
Going Concern
MARCH 1, 2023
Armanino has said it stands by its 2020 and 2021 audits of FTX US. Former Accounting Team of FTX US Auditor Armanino Sets Up Shop as The Network Firm [ CoinDesk ] The post Armanino’s Former Crypto Team Has Left and Formed Their Own Shop, Allegedly appeared first on Going Concern. affiliate of Sam Bankman-Fried’s FTX exchange.
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ThomsonReuters
DECEMBER 9, 2020
This year more than ever, auditors will have to be conscious of the possibility and adjust their audit procedures and fraud inquiries accordingly. The period in which revenue is recorded, for instance, is something auditors will have to pay special attention. It also means that fraud risk is increasing. Fraud risk goes up a lot.
83 
CPA Practice
MAY 9, 2023
You may have heard that job openings in the United States dropped significantly in February, falling below 10 million for the first time since May 2021. But employers — including CPA firms — shouldn’t assume they can breathe any easier when it comes to retaining in-demand talent. So, accounting talent is, indeed, in limited supply.
115 
Going Concern
MAY 5, 2022
Here’s a 2015 AICPA article that sort of cosigns my foggy recollection : The profession’s focus on the CPA pipeline has long been a priority. That will continue, with new approaches to attracting, engaging and inspiring the future generation of CPAs. Aaaand the same chart from 2021 [full report can be downloaded here ].
52 
Going Concern
FEBRUARY 9, 2023
Henson, Mercy Hospital, and Northern Light Health, which owns Mercy Hospital and nine other hospitals in Maine, in April 2021, according to the Bangor Daily News. The Bangor Daily News reported: Smith, a graduate of Temple University, was living in Portland temporarily on assignment from his employer KPMG as an auditor when he fell ill.
111 
Going Concern
JANUARY 23, 2023
“Banks and auditors never reported any problems.” District Court judge in the Southern District of New York granted on Friday Deloitte LLP’s motion to dismiss a lawsuit brought under the Employee Retirement Income Security Act that was filed in October of 2021.
CPA Practice
SEPTEMBER 17, 2024
During its inspections of public accounting firms’ audits of issuers from 2021 to 2023, the Public Company Accounting Oversight Board (PCAOB) saw a year-over-year increase in the number of comment forms related to auditor independence problems, the audit regulator said in a staff report released on Sept.
52 
Going Concern
MAY 19, 2022
The PCAOB has created new ways of disciplining audit firms and auditors who bend the rules, as the new chair and board members put more of a focus on enforcement and increasing their scrutiny of the guardians of the capital markets. The audit regulator said: Under an arrangement with an unregistered Chinese firm [SBA Stone Forest CPA Co.],
105 
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 ]. It’s just a tough subject area, and you need a fifth year of college education to qualify to sit for the CPA exam. Accounting is difficult,” he says.
98 
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. However, today, it struggles to replace those who leave the profession.
105 
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.
116 
Going Concern
APRIL 10, 2023
Specifically, a significant number of EY audit professionals cheated on the ethics exams one takes to become a CPA and various CPE courses required to maintain CPA licenses. How Exactly Did EY Auditors Cheat on CPE Exams? ” If you care, here’s a more detailed explanation of the EY cheating scandal timeline.
105 
Going Concern
SEPTEMBER 22, 2023
The job security and the ability to have a comfortable life motivated me at first,” said Khokhar, who served as a senior accountant at two construction firms and senior auditor at an accounting firm. The AICPA often cites that the large pool of retiring Baby Boomers will leave a gaping hole in the supply of experienced CPAs.”
116 
CPA Practice
MARCH 11, 2024
Additionally, after sharp cuts due to the COVID pandemic in 2020 and 2021, significantly more internal audit functions are now increasing their budgets (36%) than are decreasing them (13%), according to the new survey of senior internal audit professionals. “In
95 
CPA Practice
AUGUST 19, 2024
According to a new report from The Brattle Group, total Public Company Accounting Oversight Board (PCAOB) and US Securities and Exchange Commission (SEC) enforcement activity against auditors in the first half of 2024 is significantly outpacing the number of enforcement actions brought by the regulators in recent years.
52 
Withum
AUGUST 2, 2024
In September 2021, Mizuhara began gambling with an illegal sports book and lost millions of dollars. Over the next two years, from November 2021 to January 2024 , Mizuhara wired over $16 million from the account to the bookmaker. During the account setup, Mizuhara translated for Ohtani.
105 
CPA Practice
SEPTEMBER 20, 2023
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% Executives and researchers cite multiyear contracts that have locked auditors into lower fees and pushback from clients at a time when companies are also wrestling with rising costs. in the U.S.,
105 
Withum
SEPTEMBER 16, 2024
Available for disasters occurring back to 2021. As a result, it is imperative for auditors to document the appropriateness of the mortality table used in the valuation of a plan’s benefit obligation. Participant’s principal residence must be in the designated disaster zone; must experience an economic loss.
124 
Going Concern
FEBRUARY 9, 2024
Birthdays A CPA Firm Celebrates a Century in Business [ The CPA Journal ] In today’s climate of accounting firm mergers, it is worth recognizing when a CPA firm has managed to remain independent and partner-owned for 100 years. “To be honest I’ve been on heavy medication for depression,” he tells ABC News.
104 
CPA Practice
MAY 15, 2023
However, the $625 million in total monetary settlements was down more than 60% from FY 2021, and 44% lower than the average total monetary settlements between FY 2017 and FY 2021, according to Cornerstone Research. The civil penalties imposed in FY 2022 represented 67% of total monetary settlements, up from 56% in FY 2021.
111 
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?
84 
Going Concern
SEPTEMBER 23, 2024
Jack Castonguay, who used to be a favorite follow of ours on Twitter before he dipped out from the platform in protest, has written about FTX for CoinDesk : In situations like this, it’s always easy to play Monday morning quarterback and say this could have happened to any auditor and any client. But here, the failure was idiosyncratic.
104 
CPA Practice
FEBRUARY 23, 2023
More than 300,000 accountants and auditors in the United States have left their jobs in the past two years, according to a Wall Street Journal article citing federal data. students completing a bachelor’s degree in accounting has been on the decline since 2012, according to the AICPA’s 2021 Trends report. The number of U.S.
121 
CPA Practice
JULY 17, 2024
Between 1990 and 2021, the number of people sitting for the Certified Public Accountant exam plunged by almost 50 percent , according to the Association of International Certified Professional Accountants. Filling the CPA Gap A new generation of startups has made this problem their business. By Ali Donaldson, Inc.
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