Going Concern

FEBRUARY 29, 2024

2022 PCAOB Inspection of KPMG LLP [ PDF ] WSJ doesn’t know why it was redacted either. The post Why Did the PCAOB Redact KPMG’s Audit Failure Rate? KPMG News audit deficiencies PCAOB Inspection Reports Top Secret Shit WTF What the f**k is this?? NO ONE DOES. appeared first on Going Concern.

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audit 128

MyIRSRelief

SEPTEMBER 1, 2022

Although the 2022 Inflation Reduction Act (IRA) was touted as being a bill designed to reduce inflation, it carries with it considerably more baggage. In particular, the expansion of the IRS and it tax enforcement arm will result in more taxpayers seeking IRS audit & appeals help as it comes into effect starting next year.

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audit tax return Tax Education 130

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.

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auditor audit Technology 129

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. In 2022, the PCAOB finally gained access to inspect and investigate firms headquartered in mainland China and Hong Kong.

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audit auditor cpa firm public accounting 111

Going Concern

OCTOBER 19, 2022

Yesterday, the PCAOB announced a settlement in which audit partner Jonathan B. Taylor added or modified approximately 80 audit work papers before providing the improperly altered documentation to PCAOB inspectors for a 2021 inspection. Wanna alter work papers and then double down when you’re caught?

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audit auditor Gaming 111

Accounting Today

JANUARY 4, 2023

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audit Tax 126

Going Concern

SEPTEMBER 8, 2023

Another tipster said CBIZ was trimming staff in audit “in connection with that” though we didn’t get any numbers because no one ever talks about CBIZ, you probably forgot they existed until just now. The top ten firms collectively audit 68% of the total population. I’ll do some digging in the meantime.

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audit Gaming Real Estate Construction 122

CPA Practice

JANUARY 23, 2023

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

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audit auditor forensic accounting Technology 124

CPA Practice

SEPTEMBER 22, 2023

Taylor, Kiplinger Consumer News Service (TNS) IRS audits raise anxiety for many taxpayers. But beyond the EITC, there have been concerns over the years whether the IRS focuses enough on higher earners and has the resources to effectively audit complex partnerships and large corporations. Now, in a Sept. Now, in a Sept.

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audit income tax tax return Tax 119

Acterys

DECEMBER 22, 2022

2022 has been the most successful year since our inception in 2016 with immense growth in all key areas, including customer base, revenue & profit, team size, recognition by leading analysts, and penetration in the market. Here are the major highlights of 2022 through Acterys’ lens: An Impressive 233% YoY Revenue Growth.

Construction 26

Construction NetSuite Technology Finance 26

TaxConnex

NOVEMBER 4, 2021

TaxConnex is pleased to announce the completion of their second annual sales tax survey finding that the increasing sales tax complexities, growing nexus, fear of sales tax audits and limited resources to do what is necessary to remain compliant are among the top worries of financial professionals heading into 2022.

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Sales Tax audit Finance 246

Going Concern

JUNE 1, 2023

In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. billion in global revenue.

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auditor audit Government Transportation 116

Going Concern

FEBRUARY 15, 2023

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. The post Grant Thornton Scores Coveted ‘Hot Garbage’ Audit appeared first on Going Concern. Records show it pays INR 32,000 (U.S.

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audit auditor accounting firms Government 116

TaxConnex

DECEMBER 29, 2022

online retail sales in the 2021 holiday season had jumped 11% over 2020 and you had the foundation set for a banner 2022 for eCommerce – and online sales tax. Election Day 2022, in addition to being watershed midterms, involved many sales tax initiatives. But as we saw once more in 2022, nothing new there. Add that U.S.

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Sales Tax Maryland Louisiana 130

TaxConnex

DECEMBER 28, 2021

Nine out of 10 respondents listed the following as their top concerns moving into 2022: keeping up with states’ changing nexus rules; understanding the taxability of products or services; the threat of audits; or filing returns and paying sales taxes due on time. Then there’s the danger of sales tax audits.

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Sales Tax audit tax return 246

CPA Practice

MAY 10, 2023

The head of the Public Company Accounting Oversight Board (PCAOB) said today that its inspectors found significant deficiencies in the audits of U.S.-listed deficiencies in 100% (four of four) of the audit engagements reviewed at KPMG Huazhen and 75% (three of four) of the audit engagements reviewed for PwC Hong Kong.

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audit auditor financial statements public accounting 111

CPA Practice

MAY 2, 2023

There is a brand-new section that debuted today in PCAOB inspection reports of audit firms, and it is devoted to auditor independence. “We The auditor independence section will appear in reports for PCAOB inspections completed in 2022, beginning with eight reports that were released on Tuesday.

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audit auditor financial statements 111

CPA Practice

JUNE 25, 2024

auditing reporting requirements. According to PCAOB Rule 2200, Annual Reports , PCAOB-registered firms are required to file annual reports on Form 2 that disclose, among other things, each issuer for which a firm issued any audit reports during a reporting period.

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audit chartered accountant auditor CPA 111

Going Concern

SEPTEMBER 10, 2022

Saw this in PwC’s 2022 Audit Quality Report and wanted to get the peanut gallery’s opinion on this math: My first thought is imagine how much worse these numbers would be if you people didn’t eat as many hours as you do. Though judging by this, you’re getting much better at it. Have at it in the comments.

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audit 119

Going Concern

FEBRUARY 3, 2023

We are here to talk about how Hindenburg sniffed out Adani’s audit firm and what it found. 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. Shah Dhandharia seems to have no current website.

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audit auditor accounting firms Government 124

CPA Practice

MAY 22, 2023

Audit partners are pessimistic about the outlook for the U.S. businesses continue to face inflation, cybersecurity risks, and increased regulation, according to the Center for Audit Quality (CAQ’s), Audit Partner Pulse Survey , a biannual survey of US public company audit partners. economy as U.S. Rather, U.S.

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audit Technology Government Account 98

TaxConnex

JANUARY 10, 2023

The nationwide survey, conducted by In90Group in October of 2022, is composed of responses from 100 top finance professionals in a variety of industries regarding their thoughts and experiences in managing sales tax.

Sales 246

Sales Tax audit Finance 246

CPA Practice

OCTOBER 11, 2023

The 1,117 firms participating in the survey reported a fiscal year 2022 median growth rate of 9.1% That category climbed almost 9% from $207,506 in fiscal year 2020 to $225,725 in fiscal year 2022. Median hourly billing rates rose from $137 in fiscal year 2020 to $159 in 2022, a 16% increase. That rate eclipses the 4.2%

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accounting firms Account accountant accounted 119

Accounting Today

SEPTEMBER 3, 2024

The Internal Revenue Service is ramping up its scrutiny of large partnerships, leveraging increased funding under the Inflation Reduction Act of 2022.

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audit Tax 124

ThomsonReuters

SEPTEMBER 26, 2023

Jump to: Firms and clients are embracing remote auditing Remote auditing poses challenges, but there are solutions Leveraging technology is key to remote audit success Firms that have been introducing and experimenting with remote audits are finding it easier to embrace and collaborate with clients through cloud audit tools.

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audit auditor Technology Education 98

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

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audit auditor financial statements Maine 121

Going Concern

MAY 7, 2024

“In other words, the reported deficiencies had to be so serious that, in our view, the audit firm could not provide reasonable assurance that the financial statements were free from material misstatement due to error or fraud,” explained former board member J. . Robert Brown Jr. And you thought NOCLAR was controversial.

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audit financial statements Account accountant 111

CPA Practice

AUGUST 8, 2023

Champions of audit quality will not be happy with this news from the Public Company Accounting Oversight Board (PCAOB). A staff report released by the audit regulator late last month shows a year-over-year increase in the number of audits with deficiencies at audit firms that the PCAOB inspected in 2022.

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audit accounting firms Account accountant 98

TaxConnex

DECEMBER 16, 2021

As states look to continue to benefit from economic nexus collections, new regulations are sure to come about, and audits are likely to increase in 2022. If you’re looking to make a change and start 2022 off on the right foot, get in touch with TaxConnex! Benefits of Outsourcing.

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Sales Tax audit Start-ups 241

Cherry Bekaert

AUGUST 9, 2023

The Defense Contract Audit Agency (DCAA) recently released its Fiscal Year 2022 Report to Congress. Contact Us The post Insights Into DCAA’s Report to Congress for Fiscal Year 2022 appeared first on Cherry Bekaert. By law, the DCAA is required to submit an annual report detailing the DCAA’s activities for the previous year.

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audit auditor Government public accounting 97

RogerRossmeisl

MAY 15, 2023

If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. At a minimum, keep tax records related to your return for as long as the IRS can audit your return or assess additional taxes. But some questions may still crop up about the return. When will your refund arrive?

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tax return Tax audit CPA 206

TaxConnex

AUGUST 16, 2022

Technology is a valuable tool, and in 2022, we’re leaning on it more than ever. But technology alone lacks the insight needed to manage sales tax from registration to remittance and audit to penalty resolution.

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Technology Sales Tax audit 246

Going Concern

DECEMBER 13, 2022

Well, well, well, KPMG had a 14% increase in global revenue in its 2022 fiscal year that ended Sept. And of course there ’s a press release : KPMG International announces strong annual aggregated revenues for KPMG firms globally of US$35 billion for the fiscal year ending 30 September 2022 (FY22) — an increase of 14%. billion in 2021.

Legal 111

Legal audit Tax Technology 111

CPA Practice

AUGUST 9, 2023

billion between April 1 and June 30, according to a recent analysis from Audit Analytics. billion) 2022 : 46 ($5.3 billion, while six special purpose acquisition company (SPAC) IPOs raised total proceeds of $980 million, according to Audit Analytics. PwC is the company’s audit firm, according to Kenvue’s Form 8-K.

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audit cpas accounting firms Account 98

CPA Practice

JUNE 16, 2023

Is there a certain aura around an audit? As such, when the IRS audits those earners, it’s able to claw out some of that money. As such, when the IRS audits those earners, it’s able to claw out some of that money. times the revenue raised from their initial audit.” “In present discounted value, these additional taxes are 3.2

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audit Tax income tax Account 98

Going Concern

AUGUST 2, 2023

Audit Analytics has released “ A Twenty-Year Review of Audit Fees ,” an in-depth look at audit fee trends from 2002 to 2022 and there are some fun charts inside. Mainly we care about this one: In FY2003, average audit fees were $681,000; in FY2022, this number was $2,243,000. God bless Audit Analytics.

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audit auditor Agriculture accounting standards 98

Going Concern

SEPTEMBER 26, 2023

Fresh off the PCAOB’s published naughty list, BDO USA and partners Kevin Olvera and Michael Musick got sent to the punishment corner for violations of PCAOB rules and audit standards in connection with the audit of AAC Holdings, Inc. (“AAC”) and Two of Its Partners for Violations of PCAOB Rules and Audit Standards [ PCAOB ].

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audit auditor Account accountant 110