Going Concern

JUNE 3, 2022

The Financial Accounting Standards Board adopted CECL in 2016, prompted by criticism that banks had booked losses too slowly in the run-up to the 2008 financial crisis. Life at Deloitte US (@lifeatdeloitte) June 1, 2022. EY US (@EY_US) June 1, 2022. KPMG US (@KPMG_US) June 1, 2022. PwC US (@PwCUS) June 2, 2022.

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Going Concern

JANUARY 7, 2023

2022 was not exactly a banner year for accounting but if you don’t count the collapse of FTX, it wasn’t terrible for public perception either. Audit failures will become more frequent & high profile ( #FTX now, what next year?). Regulators will increase pressure to improve audit quality, as they should.

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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 decline in CPAs is affecting smaller cities, counties and school districts that are unable to find a CPA to perform their audits.

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CPA Practice

JUNE 5, 2023

The Society will award the $5,000 scholarship each year to a deserving undergraduate or graduate student pursuing an accounting degree in Massachusetts. The course is designed for Delaware professional accountants and is $149 for DSCPA members and $209 for non-member.

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Going Concern

MAY 9, 2023

Because “off the top of my head” isn’t sufficient fact-checking even for Going Concern, I looked it up and came across this December 2022 post about historical CPALE pass rates written by Joel L. Additionally, US accounting degree completions peaked in 2015-16 and have trended down since.

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Going Concern

APRIL 20, 2022

By 2014 however, the benevolent overlords at the AICPA noticed a troubling statistic: despite record enrollments, this abundance of accounting students did not appear to be pursuing the CPA exam as expected. In other words, more people than ever were graduating with accounting degrees but CPA exam candidate numbers stayed the same.

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CPA Practice

NOVEMBER 3, 2023

College graduates with accounting degrees , CPA exam takers , new entrants to the accounting workforce —all these metrics and our experience make us feel there’s a lack of interest in our industry. You can sense the collective anxiety brewing: Is our industry running low on accounting talent? By Andrew Argue, CPA.

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Going Concern

MARCH 25, 2022

PCAOB cautions firms on use of outside service providers for audit confirmations [ Accounting Today ] The Public Company Accounting Oversight Board issued a Spotlight publication Monday containing some observations and reminders for auditing firms about relying on outside service providers for electronic audit confirmations.

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CPA Practice

JANUARY 11, 2024

Before joining CohnReznick, Kavanagh was a partner for a Big 4 firm where he served as the audit engagement partner for two components of a Fortune 100 aerospace and defense company’s engagement and was the engagement partner at the issuer level for multiple SEC clients. BWK) recently expanded its staff by 20%.

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Going Concern

OCTOBER 24, 2022

From last Friday’s Footnotes ICYMI : Deloitte is delaying offers in India, KPMG flunks audit inspections at twice the rate of other firms, PwC is hiring more minorities, and EY is putting out press releases about all the hiring it is doing in the UK. Lots and lots of pictures.

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cpas Account accountant accounted 59

Going Concern

JULY 14, 2022

Now the problem of waning interest in accounting as a major may or may not end up being a huge issue considering 42.7% of firm new hires are non-accounting grads, up from 31% the two years prior (data from the 2021 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report released this year).

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Going Concern

SEPTEMBER 1, 2023

Check out this week’s top remote accounting candidates. The “big four” accounting firm reported revenue of A$3.4 EY Assurance teams now process over 775b lines of journal entry data each year, as part of the EY digitally transformed audit. billion ($2.21 30 after 33 years with the firm.

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Going Concern

FEBRUARY 12, 2024

Someone you know spoke to NPR’s Marketplace for this story: Some accountants are turning away new customers this tax season Tax filing season is here and if you’ve been putting off finding a CPA, good luck. And how did another American firm earn more than six million dollars in net new audit fees? Do you have room?’

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Going Concern

JUNE 24, 2022

“You guys have clearly done a great job identifying accounting that is way beyond its date…to do nothing about this would be a shame.”. UPS, Dell, Others Call on SEC to Retool Climate Accounting Plan [ Bloomberg Tax ] Audit firms and companies including United Parcel Service Inc. Mike Moïse (@MikeMoiseCPA) June 21, 2022.

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Going Concern

JUNE 28, 2024

Internal audit’s role in the new European Union’s Artificial Intelligence Act [ Wolters Kluwer ] The European Union’s Artificial Intelligence (AI) Act is a landmark regulation that seeks to define and harmonize comprehensive rules for the development and use of AI systems across the EU.

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