Going Concern

JANUARY 6, 2025

Several accounting firms argued disclosing the metrics to the audit committee of a companys board would be better than making them public for shareholders because that is the committee that ultimately appoints the auditor. As a refresher, these are the metrics the PCAOB wants firms to start reporting: Partner and Manager Involvement.

accountant 52

accountant accounted Account audit 52

Going Concern

DECEMBER 1, 2023

Chartered* accountancy? Chartered Accountancy. Then an auditor will come in and charge as much as we do and only do one-tenth of the work. PCAOB Chair Erica Williams, appearing in a pre-recorded video shown to the 75 or so auditors, policymakers, and academics in attendance, emphasized the record $11.9

cpas 111

cpas audit auditor CPA 111

Going Concern

JULY 17, 2023

KPMG Nederland director Marc Hogeboom is also stepping down as boss of the accounting arm, but remains an auditor and partner at KPMG. There is no room for doubt about the integrity and professional competence of accountants. Accountancy firms play an important role in society.

audit 97

audit auditor chartered accountant Texas 97

Going Concern

OCTOBER 30, 2023

Here’s a touching tribute to “epitome of integrity” Akintola Williams , Nigeria’s first chartered accountant. After expressing a going concern doubt in Tupperware’s 2022 audit report, PwC has declined reappointment as auditor for this year. He passed away on September 11.

accountant 105

accountant accounted Account auditor 105

Menzies

DECEMBER 13, 2024

Menzies LLP - A leading chartered accountancy firm. The best you can do is to try and make it as painless as possible by being well prepared, the following is a CASS auditors suggestions on steps to ensure a smooth process. Having clear responsibilities within your team to assist the auditors promptly will smooth this process.

audit 52

audit auditor chartered accountant accounting firms 52

Going Concern

JULY 17, 2024

Audit reform was supposed to be included in the last King’s Speech but was noticeably absent, an omission deemed “very disappointing” by the Institute of Chartered Accountants in England and Wales (ICAEW) at that time. Side note: Say what you will about the monarchy, you gotta love the pomp and showmanship of it all.

audit 64

audit auditor institute of chartered accountants Government 64

Going Concern

JULY 15, 2022

Back in May Australian Financial Review reported that 12 of the 422 KPMGers who took part in systemic exam cheating would be put through the Chartered Accountants ANZ individual disciplinary process. Update on investigation into internal training misconduct at KPMG Australia [ Chartered Accountants Australia and New Zealand ].

chartered accountant 52

chartered accountant auditor audit accountant 52

CPA Practice

APRIL 11, 2023

Brian Yujuico has been named vice president and senior chief auditor at AuditClub, the Audit Service Center and creator of the innovative auditors-as-a-service model. In this newly created role, Yujuico, a Certified Public Accountant, will oversee day-to-day activities of the growing team of chief auditors, crew and cadets.

institute of chartered accountants 52

institute of chartered accountants auditor audit chartered accountant 52

Menzies

APRIL 19, 2023

Menzies LLP - A leading chartered accountancy firm. Overview of change for auditors: The changes to the standard require a much more granular based risk identification and assessment process, which means that auditors will have to significantly revise their audit approach in order to meet these comprehensive requirements.

auditor 52

auditor audit chartered accountant accounting and finance 52

Going Concern

JUNE 8, 2023

It appears the Institute of Chartered Accountants in England and Wales (ICAEW) has finally pushed Sheffield University’s Richard Murphy over the edge. The Professor of Accounting Practice at Sheffield’s Management School issued a new report chastising the group for hoarding funds.

institute of chartered accountants 52

institute of chartered accountants chartered accountant accountant accounted 52

Going Concern

MAY 30, 2024

As mentioned in this week’s news brief, the Institute of Chartered Accountants in England and Wales (ICAEW) put together a snazzy little report on the state of mid-tier firms based on a survey of managing partners. This is gonna be long and there’s no TLDR. Get over it.

accounting firms 118

accounting firms accountant accounted Account 118

Going Concern

SEPTEMBER 5, 2023

Although one academic said the concentration of fees and clients in the ASX 200 showed that the market was an oligopoly, a representative of professional body Chartered Accountants ANZ played down the dominance of the big four at the top end of town. The post Tuesday Morning Accounting News Brief: Getting Roofied at KPMG?

accountant 64

accountant accounted Account chartered accountant 64

PYMNTS

JUNE 20, 2018

The newly aggressive tactics suggest the FRC took note of criticism by policymakers that the regulator was ineffective and “toothless” to address substandard auditing by the nation’s Big Four auditors: KPMG, PwC, Ernst & Young and Deloitte. Meanwhile, other lawmakers have called on the FTC and the U.K.’s

institute of chartered accountants 49

institute of chartered accountants accountant accounted Account 49

Menzies

DECEMBER 6, 2023

Menzies LLP - A leading chartered accountancy firm. Even so care is needed in the implementation of any changes to ensure SMEs are not the victims of unintended consequences, this has been given a cautious welcome by some auditors. The key to driving value from the audit process is enhancing the overall experience.

audit 52

audit auditor accounting and finance chartered accountant 52

Menzies

JUNE 9, 2022

Menzies LLP - A leading chartered accountancy firm. However there was not a clear obligation for an external review beyond the requirement of a statutory auditor to ‘report to the FCA if, during the course of their work, they believed there were any breaches of the safeguarding requirements.’ Background.

auditor 52

auditor audit chartered accountant accountant 52

Going Concern

FEBRUARY 9, 2024

Artificial Intelligence: The long-awaited saving grace of the accounting profession [ The Arkansas Traveler ] According to research by Chartered Accountants Worldwide, accountants are consistently rated among the most trusted professionals alongside doctors and nurses, with around 80% of people trusting them to navigate the business world.

Technology 104

Technology Colorado audit cpa firm 104

Menzies

JANUARY 20, 2023

Menzies LLP - A leading chartered accountancy firm. Menzies are often appointed by the Finance Directors of large companies and groups to work alongside their existing auditors.

Finance 52

Finance Tax tax return accounting and finance 52

Going Concern

MARCH 25, 2022

The new publication includes some observations from PCAOB staff about how firms are leaning on such providers and suggests procedures for auditors to follow as they plan and perform audits. In some cases, auditing firms may be relying too heavily on such outside companies. PCAOB Spotlight PDF here.

tax return 52

tax return audit auditor accounting and finance 52

Menzies

JANUARY 18, 2023

Menzies LLP - A leading chartered accountancy firm. These must be retained for review by the auditors. Where this is the case no separate client money accounts need be maintained as the risk is deemed to be the insurers. b) Segregation of client money in client bank accounts. What are we talking about? CASS 5.2).

chartered accountant 52

chartered accountant Maine auditor accountant 52

Menzies

FEBRUARY 21, 2023

Menzies LLP - A leading chartered accountancy firm. Your CASS auditor will need to review these. One of the most time intensive requirements of being authorised by the FCA is completing Client Money Calculations. These are essential to ensure that were anything to go wrong, clients’ money is always protected.

chartered accountant 40

chartered accountant auditor audit accounting firms 40

Menzies

FEBRUARY 20, 2023

Menzies LLP - A leading chartered accountancy firm. Client money transactions are made through the firm’s own bank account and a transfer made at the end of each day to ensure the client account has the correct balance.) Your CASS auditor will need to review these. This is what is held on behalf of clients.

auditor 40

auditor chartered accountant accountant accounted 40

Menzies

FEBRUARY 23, 2023

Menzies LLP - A leading chartered accountancy firm. The Charity Commission has recently complained that the standard of reporting on Reserves and Reserve Policies in charity accounts is alarmingly poor with less than a quarter of charities reviewed properly understanding what reserves are.

chartered accountant 40

chartered accountant Start-ups auditor accounting firms 40

Going Concern

MAY 20, 2024

Auditors are required to include a going-concern warning if they believe there is a risk that the company may go bankrupt, rather than making a prediction that it will. The quality control standard represents the give and take of a decade’s worth of consideration on how to improve audit quality among auditors of public companies.

audit 105

audit auditor accountant accounted 105

Going Concern

APRIL 28, 2023

“People don’t have three or four hours in their day to sit there and wait on the CRA to answer their phone calls,” said Eric Saumure, a chartered accountant with Zenbooks.

New Jersey 105

New Jersey Colorado Georgia audit 105

Going Concern

JULY 29, 2024

All this time we thought it was going to be robots that take accounting jobs, it was Indians all along. Oh and reminder: the Institute of Chartered Accountants of India (ICAI) is working on a plan to consolidate India’s 96,000 little accountancy firms into mega-firms that they think could compete with Big 4 on the global stage.

CPA 116

CPA accountant accounted Account 116

Menzies

FEBRUARY 10, 2025

Menzies LLP - A leading chartered accountancy firm. Reporting Breaches All breaches will ultimately be reported to the FCA as part of the External Auditor CASS Assurance Report which is undertaken on an annual basis. The details of the roots cause analysis should also be documented with any actions taken to address the issue.

chartered accountant 52

chartered accountant auditor accounting firms accountant 52

Going Concern

JULY 28, 2023

The IRS has trained auditors examining the claims that pose the greatest risk of fraud, and the IRS Criminal Investigation division is identifying promoters of fraudulent claims, he said. “The further we get from the pandemic, we believe the percentage of legitimate claims coming in is declining,” Werfel said.

Gambling 98

Gambling audit Technology accounting firms 98

Going Concern

MARCH 1, 2024

pic.twitter.com/FQcm4AXSdg — Barbara Pocock (@BarbaraPocock) February 27, 2024 Chartered Accountants mistakenly let ex-PwC partner avoid investigation [ Financial Review ] Speaking of Peter Collins, AFR is still on the beat like a tick on a dog’s ass.

audit 111

audit Nebraska auditor chartered accountant 111

Going Concern

MAY 28, 2024

The Institute of Chartered Accountants in England and Wales (ICAEW) has published a report called Evolution of Mid-Tier Accountancy Firms. … In 2015, EY Canada was hired as an outside auditor to investigate “irregularities” among the hospital’s procurement practices. – More than 1.2

audit 69

audit Hospitality accountant accounted 69

Going Concern

OCTOBER 10, 2022

Louis County, MO Auditor’s Office, an auditor did just one audit in a year and gave herself a $5,000 raise. A 20-year-old woman is the youngest chartered accountant in the world. KPMG hasn’t been fined in the last week; there’s no news story link to go with that statement, it’s just an observation.

accountant 52

accountant accounted auditor Account 52

Going Concern

JANUARY 29, 2024

has hired KPMG LLP to vet its financial statements almost three months after its auditor of 28 years quit amid a tumultuous period for the food storage container business. Tupperware hired the Big Four auditor on Jan. 5 letter from district administrator Joe Phillips to Chief Auditor Joris Jabouin. Randy bunch, those EYers.

cpa firm 52

cpa firm auditor accountant accounted 52

Going Concern

JUNE 14, 2024

University of Richmond Accounting Professor Ashley Austin Awarded Grant Funding for Research on AI in Auditing [ University of Richmond ] Austin and her partners at the University of Virginia and University of Georgia will develop strategies to help auditors examine AI-generated financial reports with sufficient skepticism.

Michigan 105

Michigan auditor accounting firms New York 105

Going Concern

NOVEMBER 18, 2022

Bam is a chartered accountant and an outstanding South African. Meanwhile, Deloitte affiliates are at number 3 with 141 clients and Grant Thornton Bharat LLP associates have taken the fourth spot with 87 audits, as per the study of auditors of all listed companies. After 1,600 auditors combed through DOD’s $3.5

Technology 96

Technology audit auditor accounting and finance 96

Going Concern

JANUARY 20, 2023

Under rules introduced in 2016, large UK-listed companies are required to change auditor at least every 20 years and to run a competitive tender once a decade. Germany’s Commerzbank sues EY for Wirecard losses [ Reuters ] The German lender Commerzbank (CBKG.DE) is suing accounting firm EY over the 200 million euros ($216.12

auditor 98

auditor Technology audit financial statements 98

AdviceForTaxpreparers

JULY 29, 2019

Why was Janet Jackson’s accountant so upset when she had a wardrobe malfunction? Why did the accountant divorce the banker? Why did the auditor get hit by a car when he crossed the road? Why did the accountant wear New Balances? What’s an accountants favorite sport to play during busy season? Ultimate FASB.

tax preparation 212

tax preparation accountant accounted Account 212

Going Concern

FEBRUARY 16, 2024

Bill would let private CPAs, not state auditor’s office, audit state agencies [ Radio Iowa ] Senator Mike Bousselot, a Republican from Ankeny, IA seems to think letting CPA firms audit government books instead of the state auditor will fix the accountant shortage somehow?

Real Estate 105

Real Estate Iowa audit public accounting 105

Going Concern

FEBRUARY 23, 2024

Advice What I did next [ Deloitte ] Deloitte alumnus Aaron Westgate talks about teaching accounting. Q: What advice would you give your student working on their first project as qualified auditor? Too many times, I have seen people treat others ‘because that’s the way I was treated’.

CPA 105

CPA Illinois auditor Iowa 105