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Friday Footnotes: The Bravest of Accounting Firms; Oh STFU, CFOs; | 8.09.24

Going Concern

The university hired accounting firm CliftonLarsonAllen to conduct the independent forensic examination into CapRadio, which is an auxiliary of Sacramento State. Accountancy firm rebrands to “bravely showcase our true identity” [ Prolific North ] Sweet, can’t wait to see this powerful redesign!

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PCAOB OKs Tougher Rules on Auditor Negligence

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) on June 12 updated a nearly 20-year-old rule on auditor conduct, making it easier for the audit regulator to hold associated persons of an accounting firm accountable when their negligence “directly and substantially” causes the firm to violate auditing standards.

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Friday Footnotes: The PCAOB-to-Practice Pipeline and Audit Quality; Ball Extension; Tim Ryan’s Replacement | 1.12.24

Going Concern

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.

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PwC UK Partners Will Not Be Celebrating Record-Breaking Million Dollar Payouts This Year

Going Concern

Reports The Guardian : More than 1,000 partners at the UK division of the “big four” accounting firm PwC will be paid £906,000 this year, a slight fall on last year’s record payout as profits fell despite rising revenues. Last year, 950 PwC UK equity partners were treated to record-breaking £1 million pound ($1.2

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Extending Outsourcing Contracts Can Alleviate Shortage of CPAs

CPA Practice

By Paula Laurenti, Key Accounts Manager at SAPRO. accounting profession is facing a severe shortage of certified accountants. Projections indicate that demand for accountants and auditors will increase by 13% between 2021 and 2031, with an estimated 136,400 job openings between 2021 and 2023.

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PwC Is Suddenly Scared of Making Money

Going Concern

PwC is planning to give up tens of millions of dollars of consulting work for its US audit clients to reduce the risk of conflicts of interest, challenging its rival Big Four firms to follow suit. We have really good competitors but what they do is up to them,” said Tim Ryan, senior partner of PwC US.

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New GASB Members Named

CPA Practice

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.