Remove accounting terms Remove audit Remove auditor
article thumbnail

SEC Slaps CohnReznick and Three Partners with Improper Professional Conduct

Going Concern

This press release from the SEC is wayyyy too boring to be rewritten in an interesting way on a sunny Friday afternoon so have some copy paste instead: The Securities and Exchange Commission today charged audit firm CohnReznick LLP with improper professional conduct on engagements for two clients in 2017. Audits in 2017; charges June 8, 2022.

audit 110
article thumbnail

ChatGPT Isn’t Terminator for Accountants…Yet

Going Concern

The products can sort accounts, predict the other side of a journal entry, and populate a tax form with high accuracy. If you’ve been on an audit or prepared a tax return and at some point thought “a monkey could do my job,” you weren’t far off. It confuses like terms, particularly technical accounting terms.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Top 5 Accounting Issues to Master to Avoid Snags in SPAC IPOs

ThomsonReuters

The biggest thing in a De-SPACing transaction, depending on which SPAC the company merged with, is “having to get auditor attestation of your financials in your first year,” Bonnie Roe, Attorney, Cohen & Gresser LLP, said. Additional analysis of the lease standard can be found in the Accounting and Auditing Update Service [AAUS] No.

article thumbnail

In Wake of Coronavirus, Takeovers (And Liabilities) Loom

PYMNTS

In accounting terms, that means eyeing possible write-downs of assets, and “write-ups” of liabilities. The impact is not confined to China. One standout: Operating leases – tied to the real estate that is owned or is integral to a company’s daily activities – could be written down.