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 Account 105

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. I also discuss the importance of checklists and preplanning that will allow the auditor to have more focus and better manage their precious time.

financial statements 105

financial statements audit auditor CPA 105

CPA Practice

AUGUST 28, 2024

. == 2024 Award Winners: Batch Extensions, from HubSync Tax season is a battlefield for CPAs. This inefficiency cripples productivity and limits CPAs’ ability to focus on higher-value tasks. This inefficiency cripples productivity and limits CPAs’ ability to focus on higher-value tasks.

Technology 125

Technology accounting firms Account accounted 125

Withum

OCTOBER 12, 2023

My career was spent as a certified public accountant (CPA) and it was extremely rewarding since I was able to help many clients in many different situations. Accounting is the means of expressing these activities, and financial statements are how the activities are presented.

cpas 45

cpas double entry bookkeeping auditor financial statements 45

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

CPA Practice

AUGUST 15, 2023

MSPC CPAs These five firms were fined and sanctioned by the PCAOB for violating auditing rules and standards related to communications with audit committees. was fined $75,000 for auditor independence violations during six audits of three company employee benefit plans. 11 for breaking various auditing rules. Snodgrass, Mancera S.C.,

audit 98

audit auditor accounting firms cpas 98

Going Concern

NOVEMBER 4, 2024

Given the demands CPAs face — often, they serve on understaffed teams due to a shortage of accounting talent, while also needing to obtain continuing professional education credits in order to maintain their certified public accounting licenses — some experts were not surprised to hear about the multi-tasking practice. “If

Account 105

Account accounted accountant auditor 105

Going Concern

SEPTEMBER 29, 2023

What CPAs can learn from Smucker’s [ Accounting Today Voices ] J.M. ” The updated version, issued on September 28th, removes problematic language which could be construed as indicating that internal auditors are not inherently trustworthy and unable to exercise due care in the performance of their duties.

auditor 111

auditor audit New York CPA 111

Going Concern

MAY 5, 2022

Supply shortages include CPAs but the accounting pipeline problem as it’s called didn’t happen because of or due to the pandemic. Here’s a 2015 AICPA article that sort of cosigns my foggy recollection : The profession’s focus on the CPA pipeline has long been a priority. It’s been happening for years.

auditor 52

auditor audit cpas CPA 52

ThomsonReuters

JUNE 28, 2023

Governance risks include financial reporting , fraud prevention, executive pay transparency, and overall business dealings of the company. Accountants and auditors have an expanding role to play in determining the integrity of a company’s disclosure of ESG topics.

Tax 98

Tax auditor audit Technology 98

Going Concern

FEBRUARY 6, 2025

They said : A task force of the American Institute of CPAs Professional Ethics Executive Committee (PEEC) will seek public comment on its preliminary conclusions about revisions to independence rules related to alternative practice structures, changes driven by the increasing prevalence of private equity investment in accounting firms.

audit 90

audit auditor cpa firm CPA 90

Going Concern

NOVEMBER 11, 2022

There’s definitely an accountant shortage out there’: MBAs have become the go-to degree and companies are struggling to hire enough CPAs [ Fortune ]. Many auditors responding to the FERF study noted an increase in effort by their teams (68%). Vatican’s former audit chief launches €9.3mn legal case over dismissal [ Financial Times ].

audit 98

audit auditor Louisiana cpas 98

CPA Practice

JUNE 10, 2024

The Public Company Accounting Oversight Board (PCAOB) doled out $150,000 worth of total fines to a Plantation, FL-based CPA firm on June 10 for violations related to quality control, auditing failures, and missing Form AP deadlines. for the fiscal year ended June 30, 2021.

audit 52

audit cpas Florida auditor 52

LSLCPAs

FEBRUARY 27, 2024

There’s no question that annual financial statement audits are sometimes considered a “necessary evil”. However, the feeling is often eased with familiarity of the process, familiarity with your Agency’s operations, and familiarity with your auditors. We (the auditors) like to think of them as even enjoyable!

audit 59

audit auditor cpas financial statements 59

Going Concern

MARCH 8, 2024

Audit SEC Settlement Against Auditing Firm Serves as Reminder of Important Independence Rules [ JD Supra ] On February 29, the Securities and Exchange Commission (the SEC) announced that it settled an administrative proceeding against Lordstown Motors Corps’ former auditor, Clark Schaefer Hackett and Co. Here is the essence of the dialogue.

audit 100

audit auditor New York Legal 100

Going Concern

FEBRUARY 27, 2023

In an article titled “Interactive Auditor-Client Negotiations: The Effects of the Accumulating Nature and Direction of Audit Differences” a team of researchers further examined what happens during these discussions and how the negotiations can affect the magnitude of audit adjustments made to financial statements.

Technology 105

Technology Account accounted accountant 105

Going Concern

APRIL 29, 2022

4 Ways CPAs Can Explain the Tax Benefits of Direct Indexing to Clients [ Parametric ] Let’s unpack what CPAs should know about direct indexing from a tax perspective—and explore some unique and effective methods for explaining it to your clients. Less work for EY auditors? Auditors Fire Messy Municipal | 4.29.22

auditor 52

auditor audit Account accounted 52

Going Concern

OCTOBER 31, 2022

The IRS is providing a new way for CPAs and others to make anonymous reports about third-party vendors who promote improper claims for the employee retention credit. It has to work.” States spent millions on Deloitte’s ‘anti-fraud’ Covid unemployment systems, billions in fraud happened.

Account 105

Account accounted accountant audit 105

CPA Practice

SEPTEMBER 17, 2024

Prager Metis also settled separate charges that it violated SEC auditor independence rules. Gurbir Grewal “Effective investor protection requires a collaborative approach that includes both regulators and gatekeepers, such as auditors. In addition, the firm agreed to be censured.

audit 59

audit auditor cpas financial statements 59

Going Concern

MAY 26, 2023

Audit Bitcoin Miner Riot Dumps Auditor for ‘Big Four’ Accounting Firm [ Blockworks ] Riot Platforms is looking to switch accounting firms as the landscape for crypto company auditors remains in flux. Marcum had audited Riot’s consolidated financial statements for the fiscal years between 2018 and 2022.

public accounting 104

public accounting Account accounted accountant 104

CPA Practice

NOVEMBER 11, 2024

The Future Of AI For Productivity In Public Practice Is Brighter Than Ever Our K2 Enterprises team continues to teach practical AI courses for public practice professionals and industry CPAs. DataSnipper : The Intelligence Automation Platform and Advanced Extraction Suite have provided functional automation to auditors for some time.

accounting firms 111

accounting firms Technology Account accounted 111

Going Concern

SEPTEMBER 22, 2023

Both Mendlowitz and his father, also a CPA, attended the CUNY school. Summing up Sid: The ultimate CPA and friend to all [ Journal of Accountancy podcast ] Plenty of CPAs can say they learned something from Sid Kess, who died last week at age 97. Williams said in a news release.

audit 109

audit accounting and finance Virginia auditor 109

Going Concern

JULY 26, 2024

Accounting for the Future: Empowering Tomorrow’s CPAs Today [ Seton Hall University ] Seton Hall University recently hosted the “Accounting for the Future” Pre-College program, an inspiring two-day workshop designed to introduce high school students to the dynamic world of accounting.

Oklahoma 105

Oklahoma audit South Dakota accounting firms 105

Going Concern

DECEMBER 5, 2022

In an article for CoinDesk , Francine McKenna took a crack at why the FTX debacle happened, and like she always does when there ’s really bad accounting at a company going through a financial crisis, who are/were the auditors: It’s not clear why FTX commissioned two different audit firms to audit its 2020 and 2021 financial statements.

audit 52

audit auditor financial statements public accounting 52

Ryan Lazanis

APRIL 18, 2023

Here’s chatCPA , a bot trained by CPAs that you can chat with for only $6/month: That being said: Advanced technologies like AI can assist and improve the work of accountants, but they cannot entirely replace them because of their inability to perform essential human skills such as judgment, communication, and critical thinking.

Account 96

Account accounted accountant Technology 96

Going Concern

JULY 5, 2022

Only certified public accountants can audit public companies’ financial statements, per U.S. But, under the SEC’s proposal, the attestation report could be prepared not only by external auditors but also by other service providers, such as an engineering, consulting or certification firm. securities laws.

audit 52

audit Non-Profits auditor cpas 52

Going Concern

OCTOBER 11, 2022

These businesses have their financial advisory needs served by hundreds of thousands of small firm accountants and CPAs nationwide. Small business has unique needs for accounting services: primarily tax and advising, and secondarily day-to-day accounting needs to act as de-facto controllers and decision makers. June 17, 2019.

Education 104

Education Account accounted accountant 104

CPA Practice

AUGUST 3, 2023

The American Institute of CPAs, representing AICPA & CIMA, has updated its practice aid for accounting and auditing of digital assets, with added material on auditing. Practitioners who prepare financial statements and auditors with a fundamental knowledge of blockchain technology will find the guidance most useful.

auditor 52

auditor audit accounting principles cpas 52

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

Withum

AUGUST 28, 2024

To prove it, look at any public company’s financial statement and count the pages with numbers and those primarily with words. For auditing, we spend a good part of the first session reviewing the auditor’s report almost word for word. We will also delve between the lines in some of the notes to financial statements.

managerial accounting 52

managerial accounting financial statements audit accountancy courses 52

ThomsonReuters

MARCH 20, 2024

When it comes to Single Audits of local governments, nonprofits, school districts, and HUD engagements, auditors must navigate through a complex set of rules that are constantly changing. Backed by an in-house team of expert CPAs and nationally recognized authors, you can be sure the results are accurate and comply with current standards.

audit 52

audit auditor cpas financial statements 52

CPA Practice

SEPTEMBER 5, 2023

AICPA Updates Digital Assets Practice Aid, Adding Audit Guidance The American Institute of CPAs (AICPA), representing AICPA & CIMA, has updated its practice aid for accounting and auditing of digital assets, with added material on auditing.

audit 59

audit cpas auditor accounting principles 59

ThomsonReuters

JANUARY 12, 2023

Governance risks include financial reporting, fraud prevention, executive pay transparency, and overall business dealings of the company. . Increasingly, businesses are engaging third-party assurance auditors to report on those ESG disclosures. . What is an ESG audit? Like any audit, ESG audits can be internal or external.

audit 52

audit auditor Technology Government 52

ThomsonReuters

JANUARY 18, 2024

Recording expenses and preparing financial reports. Working with external auditors. Some of the key accounting assumptions — which are beneficial for the entity, its management, as well as for those reading the financial statements — include the reliability assumption, accrual assumption, and economic entity assumption, to name a few.

Account 59

Account accounted accountant tax preparation 59

Going Concern

MARCH 17, 2023

“A proposal like this could allow for the reinstatement of credit for more than 15,000 CPA candidates and re-open the door for those candidates to complete their journeys to becoming licensed CPAs. The best financial planners or wealth managers will set themselves apart with outstanding soft skills.”

Government 97

Government Gambling audit CPA 97

Going Concern

APRIL 1, 2024

It’s Joy Merriner’s job as an independent auditor with the firm BDO to go through the city’s financial statements and make sure they are fair and accurate. For at least one program, the city is at risk of running out the clock on its fourth extension with the state to close out its 2022 books.

Account 105

Account accounted accountant audit 105

CPA Practice

JANUARY 17, 2024

As standards evolve and regulatory demands intensify, the competition for skilled accountants, advisors and auditors has reached new heights. Traditional CPA and consulting firms’ approaches have become outdated and ineffective. Extensive Expertise: Community of capable CPAs, not recent college graduates.

CPA 40

CPA cpa firm audit auditor 40