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Friday Footnotes: Florida Man’s Tax Problem; Accountants Are Walking Out; BDO Assures on Tether | 2.10.23

Going Concern

Audit Americanas’ $4 Billion Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record [ Bloomberg ] A $4 billion accounting shortfall would typically raise alarm bells for an auditor. The post Friday Footnotes: Florida Man’s Tax Problem; Accountants Are Walking Out; BDO Assures on Tether | 2.10.23

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Friday Footnotes: Burner Phones For Big 4 Firms; Mandatory Unpaid Leave Rumors; CISOs Hate on CPAs | 12.1.23

Going Concern

Local accounting firm acquires longtime Orlando CPA company [ South Florida Business Journal ] One of the largest accounting firms in South Florida acquired a longtime Central Florida CPA company. Then an auditor will come in and charge as much as we do and only do one-tenth of the work.

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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

In that capacity, Urban was responsible for maintaining the company’s general ledger, preparing financial statements, and reconciling the company’s accounts payable and receivable and bank statements. Additionally, it is alleged that Urban transferred significant amounts of embezzled funds to family members.

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

CPA Practice

In addition, Luo was punished for contributing to L&L’s quality control violations and Chow and Kinzer for violating PCAOB rules and standards on the audit of the financial statements of paper product manufacturer Sugarmade Inc. for the fiscal year ended June 30, 2021.

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Monday Morning Accounting News Brief: Every Day Is Fools’ Day For Some Accounting Employers; McKinsey Now Paying People to Leave | 4.1.24

Going Concern

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.

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Friday Footnotes: The IRS Has Another ERC Warning; Non-Big 4 Firms Get Dissed; Is AI Excitement Warranted? | 7.26.24

Going Concern

The program, held on Seton Hall’s picturesque campus, brought together students from ten different high schools, including participants who traveled from as far away as Miami, Florida. The Canadian Public Accountability Board (CPAB)—the regulator for public company auditors—has taken enforcement action against five of them.

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Friday Footnotes: How Much Big 4 Spent on Lobbying Last Year; Super Bowl Bets; CFOs Feeling Good | 2.9.24

Going Concern

The Use Of AI By Financial Executives And Their Auditors [ Forbes ] Artificial Intelligence (AI) is starting to have the capabilities to improve both financial reporting and auditing. researchers surveyed financial executives (e.g., million) has announced the acquisition of Keefe McCullough & Co.