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All I Want for the Holidays Is…. A Tax Provision Specialist

Withum

Finance teams planning for their year-end financial statement audit have an even longer list of things to think about at the end of the year, including income statements, balance sheets, and, finally, the income tax provisions and disclosures that must be presented in the financial statements.

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Friday Footnotes: PwC Completes Its Punishment; Hybrid Work Should Stay in 2025; Deloitte Clutters Up the Dark Web | 1.3.25

Going Concern

The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices. Actually if you’re in tax you should have been thinking about this in October but that’s OK. We dont know, Matthew Dunlap, Maines state auditor, said.

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What's the Difference Between Business Fraud and Negligence?

Summit CPA

Padding business deductions with non-deductible personal expenses may be considered tax fraud. Information concealed during an audit. It’s stressful enough just going through a tax audit. Do not withhold information from an auditor intentionally. Hiding information from an auditor may create a fraudulent situation.

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PCAOB Has Handed Out a Slew of Punishments to Audit Firms Recently

CPA Practice

Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. 11 for breaking various auditing rules. Snodgrass, Mancera S.C.,

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Monday Morning Accounting News Brief: ‘Auditors Are Not Lawyers’; Big 4 Break Up? | 7.31.23

Going Concern

Currently KPMG, Deloitte and EY provide both consulting and audit to both the public and private sector. Originally they were just audit firms,” he said. Then the audit firms decided to create this problem by going off and doing their own consulting and the whole thing’s got out of hand.”

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Who Wants to See How Much Big 4 Revenue by Service Line Has Changed Since SOX?

Going Concern

CPA Journal has published an intriguing deep dive into Big 4 revenue , specifically how the firms started making more money in advisory than audit or tax in the last 10+ years. Writes The CPJ: Over this period, audit revenue declined while advisory service revenue increased. TLDR Assurance is out, Advisory is in.

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5 Good Practices For Auditor Independence, According to the PCAOB

CPA Practice

During its inspections of public accounting firms’ audits of issuers from 2021 to 2023, the Public Company Accounting Oversight Board (PCAOB) saw a year-over-year increase in the number of comment forms related to auditor independence problems, the audit regulator said in a staff report released on Sept.

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