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PCAOB Fines Florida-Based Firm L&L CPAs $75,000 for Auditing Blunders

CPA Practice

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.

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Friday Footnotes: RTO Isn’t Going So Great; KPMG Wins Something; What Auditors? | 5.19.23

Going Concern

Each received the same set of questions, aimed at measuring what share of crypto’s upper echelon employs a third-party auditor and has an independent board. Around half of the businesses surveyed currently engage an independent auditor to assess their finances, the findings showed. Chinese companies switch auditors to avoid U.S.

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Friday Footnotes: EY and KPMG This Week’s Big 4 Lawsuits; Eliminate Accounting Majors?; Auditors Fire Messy Municipal | 4.29.22

Going Concern

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

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Friday Footnotes: Ex-CPA Leaves Clients in the Lurch Before Tax Day; EY Layoffs; More ERC Concerns | 4.12.24

Going Concern

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.

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AICPA News – Sept 2023

CPA Practice

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. 1.6417-1(c).

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Tuesday Morning Accounting News Brief: A New Kind of Audit Quality Report; Merger Mania; Skilled Talent, Not Newbies | 5.28.24

Going Concern

Blue Ash-based tax, advisory and audit firm Cassady Schiller CPAs & Advisors will become part of Katz, Sapper & Miller in a transaction that will be completed May 31. … In 2015, EY Canada was hired as an outside auditor to investigate “irregularities” among the hospital’s procurement practices.

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Guide to accountant responsibilities

ThomsonReuters

Working with external auditors. For instance, accountants may specialize in serving nonprofits, manufacturers, restaurants , or dental offices. Furthermore, because CPAs have a responsibility to the users of the client ’ s financial statements, clients expect CPAs to uphold the profession ’ s rules on independence.

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