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Evolution of the Sales Tax Audit: Have Audits Changed with Economic Nexus?

TaxConnex

Bad luck for one, or a customer of yours undergoing their own audit might produce one of your invoices, resulting in the auditor possibly contacting you for an exemption certificate or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for a transaction that the auditor may think is taxable.

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Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Going Concern

Firm Watch Ex-BDO USA Workers Advance Narrowed 401(k) Plan Fee Challenge [ Bloomberg Law ] Former BDO USA LLP employees who accused the accounting firm of mismanaging their $1.2 CLA ranked number eight, marking the sixth consecutive year the firm has been recognized and ranked at that level. Auditors have done so too.

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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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Friday Footnotes: CPA Says Stop ERC Fearmongering; Deloitte Cussed Out For ‘Grueling Culture’; Worst Books Ever | 2.23.24

Going Concern

Patrick, now a resident of Cody, Wyoming, co-owned a media brokerage firm with her husband and hired an accounting firm to prepare business and personal tax returns for 2012 through 2014. Despite receiving the completed and accurate tax returns from the accounting firm, Patrick did not file them with the IRS.

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Friday Footnotes: PwC Isn’t Getting a Redemption; Just Say No to NOCLAR; Oh, Layoffs? | 3.15.24

Going Concern

EY’s new boss shuffles leadership roles and plans cost cuts [ Financial Times ] EY’s new boss Janet Truncale has set out her leadership team for the Big Four accounting firm, moving an architect of its failed split from his executive role and signalling plans to cut costs across the global firm.

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Monday Morning Accounting News Brief: Big 4 Firms Hate Going Concern (Warnings, That Is); Being a Whistleblower Blows | 5.20.24

Going Concern

PwC is facing legal action claiming the accountancy firm is liable for the alleged rape of a graduate employee following after-work drinks. Illinois CPA Society has issued a new pipeline report: Re-Decoding the Decline. The standard applies to all engagements where the firm serves as the lead auditor or has a “substantial role.”

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The Beef Between the AICPA and Minnesota Over the 150 Hour Rule Heats Up

Going Concern

For public accounting firms in Minnesota: Minnesota public accounting firms, no longer being able to practice freely across state lines, would need to provide advance notice and gain a practice permit before signing any client engagement agreement or providing any public accounting service.