article thumbnail

How Technology Can Address Two Big Problems at Accounting Firms

CPA Practice

Nearly half (46%) of accountants have encountered situations where errors in their work resulted in financial losses for both their company and clients. A staggering 72% of accountants who experienced these errors report either personal or corporate accountability, underscoring the critical need for enhanced safeguards within the industry.

article thumbnail

Number Of Corporate Accounting Errors Unexpectedly Climbs

PYMNTS

“Errors can be anything from a misapplication of accounting principles to an error in inputs in accounting software or an error in [Microsoft] Excel schedules,” said Michael Burke, partner at accounting firm UHY LLP, according to The Wall Street Journal. However, not all restatements are caused by innocent errors.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Accounting’s 10 Most In-Demand Skills For 2024, According to Upwork

CPA Practice

Freelance talent platform Upwork has conducted a study that reveals which types of skills are most important to accounting firms and corporate accounting departments when adding new employees to their rosters this year.

article thumbnail

TIL Deloitte Almost Didn’t Do the Green Dot Because It Was ‘a Bit Silly’

Going Concern

Here’s a blurb from a March 2003 New York Times article about that : Deloitte Touche Tohmatsu reversed course yesterday and said that it would keep its consulting business, becoming the only accounting firm in the Big Four to retain its consulting and auditing services. It was the last of the big firms to do so.

audit 59
article thumbnail

Accounting Thought Leaders Discuss Future of the Profession, Advisory Services, and Tax

CPA Practice

as well as Taiwan and Australia, and they represent a broad spectrum of the accounting profession including small tax-focused firms, general practices, national firms, corporate accountants, accounting educators, accounting technology consultants , and technologists, and all are well-known speakers at tradeshows and CPE events.

CPA 135
article thumbnail

How Finance Departments Can Mold Risk Mitigation Into Opportunity

PYMNTS

Now, analysts at the International Federation of Accountants (IFAC) are urging ERM to move beyond the c-suite. Professional accountants are well-positioned to better serve the organizations they work for by enabling effective enterprise risk management that identifies both risks and opportunities for the business,” the CEO noted.

Finance 74
article thumbnail

Friday Footnotes: Remembering Legend Sid Kess; Andersen’s Doing Great; Poland Banned Deloitte From Auditing? | 9.22.23

Going Concern

Former employee of Chattanooga accounting firm speaks out [ Local 3 ] A former employee of Croft and Frost is speaking out following the accounting firm’s shutdown that cost him and his coworkers their jobs. That compares with the $1.6 billion the company generated for all of 2022.

audit 109