CPA Practice

APRIL 3, 2023

In 2021, there was a 17 percent drop in employed accountants and auditors from a 2019 peak, according to a Bloomberg Tax analysis. With an onslaught of economic disruptions and complexities on their plate, a CPA shortage proves especially burdensome for middle market companies.

accounting firms 135

accounting firms CPA Technology accountant 135

CPA Practice

JULY 23, 2024

“Audit firms and preparers alike emphasized that they are continuing to explore various ways of integrating GenAI-enabled tools in auditing and financial reporting.” audit regulator recently spoke to auditors who work at the U.S. Evaluating the completeness of financial statement disclosures. Scoping the audit.

auditor 109

auditor audit financial statements Legal 109

Going Concern

JUNE 29, 2022

With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.

auditor 116

auditor audit CPA accounting principles 116

Going Concern

APRIL 12, 2024

ICYMI: These are the most-read articles on Going Concern this week: Tax Preparer Finds Out in the Worst Way Possible That ERC Wasn’t a Free Money Glitch Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries? the auditor of Tesla Korea, about the company’s financial statements for last year.

CPA 105

CPA auditor Tax accounting and finance 105

Shay CPA

FEBRUARY 19, 2025

Finally, make sure that the resulting expense is properly allocated across your income statement. #3: 3: Organize your documents When you hire an auditor, theyll give your startup a provided-by-client (PBC) list. 5: Find the right partner The auditor you choose will directly impact how smoothly and successfully the audit goes.

audit 52

audit auditor accrual accounting accounting principles 52

Going Concern

JANUARY 9, 2023

A PCAOB inspections leader offers his insight to auditors at a conference: “The role of the financial statement auditor and the auditing profession continues to be a noble endeavor that has never been more needed and vital to our economic stability and the well-being of our capital markets,” said George Botic, CPA.

CPA 105

CPA auditor Tax accountant 105

Going Concern

APRIL 7, 2023

Big Four Auditors and Consultants Need Liability—And a Divorce [ Bloomberg Tax ] Part of the problem is the revolving door of personnel between the major accounting firms and the banks they purport to audit. In the letter, Revolut requested changes to Reuters’ article on the financial statements, which the news agency declined to make.

auditor 105

auditor chartered accountant audit accounting and finance 105

CPA Practice

NOVEMBER 11, 2024

Batch Extensions from HubSync : Helps CPA firms prepare extensions in bulk. DataSnipper : The Intelligence Automation Platform and Advanced Extraction Suite have provided functional automation to auditors for some time. Blue J : Provides verifiable answers to your tax questions. TeamMate could be a replacement for DataSnipper.

accounting firms 111

accounting firms Technology accountant accounted 111

CPA Practice

NOVEMBER 13, 2024

The Public Company Accounting Oversight Board (PCAOB) introduced on Wednesday a new series of staff guidance, “Audit Focus,” that is intended to provide easy-to-digest information to auditors, especially those who audit smaller public companies, with critical audit matters (CAMs) as the first topic.

auditor 81

auditor audit financial statements accountant 81

Going Concern

JUNE 28, 2022

The SEC has fined EY a record $100 million after an investigation revealed auditors at EY were cheating on ethics exams (open book ethics exams we presume) and CPE; worse than cheating alone, they actively tried to cover it up and hide the cheating from the SEC. Well this is bad.

auditor 98

auditor audit CPA accounting principles 98

Withum

MAY 9, 2024

However, my role is not just to teach the material but to excite them about accounting as a profession and auditing in particular and share my pride in the vital role auditors play in our ecosystem. In its simplest form, auditors provide an opinion on an organization’s financial statements. Ethics is not a buzzword.

auditor 59

auditor financial statements audit forensic accounting 59

Withum

DECEMBER 19, 2023

As these companies gain traction and seek external investments, audited financial statements play a crucial role in instilling trust among stakeholders, investors, and potential partners. 10 Key Steps Here are the key steps startup e-commerce companies can take to prepare for their audited financial statements.

E-commerce 59

E-commerce financial statements audit auditor 59

CPA Practice

AUGUST 28, 2024

AuditFile Advanced AI 2024 CPA Practice Advisor Innovation Award Finalist [link] The company that was first to bring audits into the cloud continues innovating by bringing AI into audits. The patent covers the application of artificial intelligence to financial statement audits.

auditor 105

auditor audit financial statements CPA 105

Going Concern

MARCH 24, 2023

Reminder: you have until April 17 to weigh in on a proposal to extend the CPA exam window Practice Is it time for firms to transform their business model? Auditors have done so too. Auditors Are Demanding Concessions in Split [ Wall Street Journal ] Ernst & Young’s renegade U.S.

auditor 105

auditor Entertainment audit Real Estate 105

Going Concern

JULY 31, 2023

The PCAOB’s new rules would widen auditors’ responsibility to scrutinise whether a company is complying with laws and regulations, and to communicate more of their concerns to a company’s board of directors. Such suggestions are false. In response, commissioner Hester Peirce tweeted (X’d?) and Congressman Jason Smith, R-Mo.,

auditor 98

auditor accountant accounted Account 98

Going Concern

NOVEMBER 27, 2024

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Real Estate 52

Real Estate accountant accounted Account 52

Going Concern

AUGUST 12, 2022

Hold Auditors Accountable for Complicity in Corporate Fraud [ Bloomberg Tax ] Unfortunately, since the fall of Arthur Anderson in the wake of the Enron scandal, the SEC and PCAOB have often failed to go after auditors playing fast and loose with the rules. Here’s how recruiters and career experts recommend that you proceed.

auditor 98

auditor accountant accounted Account 98

Going Concern

OCTOBER 17, 2024

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Real Estate 64

Real Estate accountant accounted Account 64

CPA Practice

MAY 14, 2024

The Public Company Accounting Oversight Board (PCAOB) approved a sweeping new standard on the general responsibilities of an auditor on May 13, including a provision that significantly cuts the maximum time period for the auditor to assemble a complete and final set of audit documentation from 45 days to 14 days.

auditor 69

auditor audit financial statements Legal 69

Going Concern

JANUARY 30, 2025

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Real Estate 52

Real Estate accountant accounted Account 52

Shay CPA

AUGUST 23, 2023

” However, when it comes to financial statement audits, the timing isn’t quite as forgiving as planting trees. Understanding the dynamics of your financial health is crucial for early-stage tech companies. One such decision is when to conduct a financial statement audit. The second-best time is now.”

financial statements 52

financial statements audit Technology accounting and finance 52

CPA Practice

JULY 9, 2023

Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner. AuditFile is the only complete, cloud-based, all-in-one engagement automation platform for public accounting professionals and internal auditors.

audit 111

audit auditor Technology financial statements 111

Going Concern

OCTOBER 24, 2024

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Real Estate 59

Real Estate accountant accounted Account 59

Going Concern

JANUARY 17, 2025

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? TAX CANDIDATES FTE Tax | Candidate ID #23772188 Certifications: CPA in process, EA Education: BBA Accounting and Finance Experience (years): 8+ years experience in tax accounting. Accountingfly can assist you!

Real Estate 52

Real Estate accountant accounted Account 52

Going Concern

SEPTEMBER 20, 2023

Just kidding, it’s a guest post from Parker Skaats, CPA, an experienced government worker who’s here to pitch the joys of government work to the unwashed overworked masses. It’s not just about financial statements and ledgers. But in the halls of government auditing, the CPA is not all that common.

Government 124

Government audit CPA auditor 124

CPA Practice

NOVEMBER 25, 2024

With over 35 years of professional experience auditing, reviewing, and preparing local government financial statements, he brings both a technical and practical understanding of the role accounting plays in advancing transparency and accountability in government.” Prior to becoming a state auditor, Ms.

Wisconsin 52

Wisconsin Colorado auditor Oregon 52

Going Concern

AUGUST 29, 2024

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Real Estate 105

Real Estate accountant accounted Account 105

CPA Practice

MARCH 4, 2024

Auditors, like so many others today, are seizing the opportunity to transform how they work by adopting artificial intelligence. These findings make it critical for those of us in the audit profession to help the next generation understand the vision and opportunities that await those who choose this career path as auditors embrace AI.

auditor 69

auditor audit general ledger Technology 69

Going Concern

OCTOBER 31, 2024

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Real Estate 59

Real Estate accountant accounted Account 59

Going Concern

OCTOBER 14, 2024

Fast forward to her sitting for the CPA exam 10 times and failing 9 while still in grad school… I had a glaring red flag in front of me that I was in the wrong profession, and yet, I clung to my career in accounting because it was a part of the plan. We don’t view AI as a substitute for auditors,” Shimek explained. “We

accountant 59

accountant accounted Account audit 59

CPA Practice

SEPTEMBER 5, 2024

Another operational trigger may include businesses with significant or rapidly growing revenue, as they have a higher potential for tax calculation errors and typically engage in more complex financial practices such as international sales transactions. 2023 saw an unprecedented 5.5

audit 115

audit Sales Tax auditor 115

Going Concern

JULY 25, 2024

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Real Estate 105

Real Estate accountant accounted Account 105

Going Concern

DECEMBER 20, 2024

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs.

Real Estate 52

Real Estate accountant accounted Account 52

CPA Practice

MAY 2, 2023

There is a brand-new section that debuted today in PCAOB inspection reports of audit firms, and it is devoted to auditor independence. “We The auditor independence section will appear in reports for PCAOB inspections completed in 2022, beginning with eight reports that were released on Tuesday.

audit 111

audit auditor financial statements 111

CPA Practice

SEPTEMBER 23, 2024

These days, the accounting profession is in crisis as CPAs retire and the pipeline to replace them dries up. Addressing the shortage means changing the time-consuming path to becoming a CPA, without lowering the standards that make the work of these unsung financial heroes so critical.

cpas 59

cpas CPA auditor accounting principles 59

Withum

MAY 10, 2022

I am scheduled to present four free webinars primarily for CPAs, but anyone in business that uses financial statements might also find them interesting and insightful. The following are being presented for CPA Academy. – Financial Statement Myths. Here is my schedule with brief descriptions.

financial statements 105

financial statements audit auditor CPA 105

Going Concern

NOVEMBER 21, 2024

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Real Estate 52

Real Estate accountant accounted Account 52