Going Concern

MARCH 8, 2023

The Financial Reporting Council has fined PwC £7.5 Babcock conducts most of its business with the government, particularly the Ministry of Defence (don’t @ us, that’s how they spell it across the pond). million ($8.9 The FRC’s investigation into PwC’s work on the FY2019 and FY2020 Babcock audits is ongoing.

audit 105

audit Government auditor financial statements 105

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. The developments raise the stakes for companies that until now have been reporting environmental, social and governance data on a largely voluntary basis.

auditor 98

auditor Technology audit financial statements 98

CPA Practice

NOVEMBER 11, 2024

DataSnipper : The Intelligence Automation Platform and Advanced Extraction Suite have provided functional automation to auditors for some time. The templates allow an analyst to hit the ground running and enable professional services firms to provide compliance, standardization, and governance across their accounting teams.

accounting firms 111

accounting firms Technology accounted Account 111

ThomsonReuters

OCTOBER 18, 2024

Statutory reporting is a critical process for multinational corporations, involving the preparation and submission of financial statements to comply with legal obligations across various jurisdictions. Key components of statutory reports include financial statements and ESG disclosures, enhancing stakeholder trust and governance.

Non-Profits 52

Non-Profits Legal financial statements tax return 52

ThomsonReuters

MARCH 17, 2025

As financial reporting complexities grow, firms must adapt their methodology and maintain clear, detailed records that demonstrate compliance with these evolving standards. With step-by-step procedures, practical checklists, and real-world examples, auditors at all levels can navigate complex engagements with confidence.

audit 52

audit auditor Technology financial statements 52

Going Concern

MARCH 24, 2023

The federal government levies taxes on collectibles held for more than a year at a top rate of 28%. EY, KPMG and the fallout of two accounting scandals [ Financial Times Opinion ] It is not just shareholders that have become ever more cautious in the wake of one of Europe’s largest accounting scandals. Auditors have done so too.

auditor 105

auditor Entertainment audit Real Estate 105

Going Concern

JULY 31, 2023

Market concentration in the consultancy industry came to a head this year after it was revealed PwC partners had misused information by passing on confidential Federal Government information to clients, sparking the sale of its consulting business to Allegro Funds to $1. It’s very important for our economy that we have proper audit,” he said.

auditor 98

auditor accounted Account accountant 98

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 accounted Account accountant 98

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

Going Concern

JANUARY 8, 2024

Refresher: Municipalities across the US are at risk of having their credit ratings downgraded or withdrawn by S&P Global Ratings because staffing shortages have delayed financial disclosure documents. The firm works with the local governments to compile information for the audit throughout the year.

Wyoming 126

Wyoming audit Government Montana 126

ThomsonReuters

MAY 16, 2024

The Public Company Accounting Oversight Board (PCAOB) has recently adopted a significant new auditing standard, AS 1000, titled “ General Responsibilities of the Auditor in Conducting an Audit.” AS 1000 updates key auditor responsibilities, emphasizing their role in protecting investor interests with independent reports.

auditor 98

auditor audit financial statements Government 98

Going Concern

DECEMBER 13, 2024

Accountants and regulators have questioned whether the independence of auditors can be preserved or not under new buyers. a Microsoft partner which serves the government and tech sectors. Grant Thorntons U.K. unit, PKF OConnor Davies and Carr, Riggs & Ingram were among the firms that last month unveiled private-equity investments.

auditor 98

auditor accounted Account accountant 98

CPA Practice

NOVEMBER 25, 2024

He joined the Governmental Accounting Standards Advisory Council (GASAC) in 2011 as a representative of the Government Finance Officers Association (GFOA) and served as chair from 2015-2021. She is the former Colorado state auditor, having served in that role for 10 years. Prior to becoming a state auditor, Ms.

Wisconsin 52

Wisconsin Colorado auditor Oregon 52

Cherry Bekaert

MAY 9, 2024

For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. A: An independent third-party auditor typically conducts an overhead rate audit.

audit 115

audit auditor Transportation Government 115

Going Concern

APRIL 30, 2024

It’s been almost six years since the Canadian government legalized recreational cannabis and ever since, a microcosm of financial reporting and auditing has been growing (no pun) beside it. Note that many companies switched auditors so not all fees listed went to the current auditor.) billion Canadian dollar ($3.7

auditor 111

auditor audit Legal financial statements 111

ThomsonReuters

DECEMBER 6, 2022

The spotlight on environmental, social, and governance (ESG) continues to intensify as businesses are increasingly being called upon to disclose more about their ESG performance and strategies. Risks and opportunities related to ESG matters may have an unfavorable, favorable, or neutral effect on financial statements.

auditor 59

auditor accounted Account accountant 59

TaxConnex

JULY 6, 2023

Government Accountability Office’s “Remote Sales Tax: Federal Legislation Could Resolve Some Uncertainties and Improve Overall System,” issued late last year. A customer undergoing their own audit might reveal one of your invoices, with the auditor possibly contacting you for a certificate of exemption or other documents.

auditor 130

auditor audit Sales Tax 130

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

OCTOBER 27, 2022

.” The administrators, whose job it is to find some funds to repay NMC creditors, say EY auditors did not detect that NMC’s accounts were fraudulently misstated to the tune of a couple billion dollars. “Whose statements are these? EY says that wasn’t their job.

audit 105

audit auditor Legal Transportation 105

CPA Practice

SEPTEMBER 12, 2024

Accountants, comptrollers, auditors and investigators cannot review every movement of every penny across thousands of transactions and countless accounts. The Government Accountability Office reported that confirmed government fraud totaled $4.5 As a result, fraudsters can get away with even the simplest schemes.

forensic accounting 125

forensic accounting accounted Account accountant 125

PYMNTS

JANUARY 2, 2020

Several high-profile corporate collapses and initiatives from corporate accounting standard-setters have raised questions about businesses’ use of supply chain finance and whether the trade finance tool prevents investors and auditors from gaining a transparent view into company finances.

auditor 52

auditor accounting and finance audit Finance 52

ThomsonReuters

JUNE 28, 2023

When you look at ESG through the lens of a tax and accounting firm, reporting on environmental, social, and governance factors is enabled by data. The ability to report on environmental, social, and governance factors is enabled by data. What are the challenges of ESG data collection? Help your clients develop measurable ESG targets.

Tax 98

Tax auditor audit Technology 98

Going Concern

MARCH 17, 2023

creating general ledgers, organizing financial statements, and handling pricing and invoicing. The rival operatives, who spoke on condition of anonymity, say the leaks scandal gave the Greens and the Labor government an excuse to scrutinise their public sector work yet again. The rule would make the U.S.

Government 97

Government Gambling audit CPA 97

CPA Practice

JULY 23, 2024

The proposed ASU is expected to (1) reduce the cost and complexity of evaluating whether these contracts are derivatives, (2) better portray the economics of those contracts in the financial statements, and (3) reduce diversity in practice resulting from changing interpretations of the existing guidance,” the FASB said.

accounted 122

accounted Account accountant accounting principles 122

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

Going Concern

NOVEMBER 24, 2023

.” Lera Kooper, Firm Director and Co-owner of Accountability Services, echoed this sentiment, stating, “This merger represents an exciting expansion of expertise and resources, reaffirming our commitment to building strategies beyond financial statements for our clients.”

auditor 116

auditor audit tax return cpas 116

Going Concern

JUNE 23, 2023

Audit “When you are a hammer, the world is a nail” – SEC and PCAOB Senior Staff Signal Increased SEC and PCAOB Gatekeeper Enforcement [ Lexology ] SEC Enforcement and PCAOB Enforcement both are pursuing more significant sanctions against auditors, particularly with respect to civil money penalties. 31 is still not finished.

cpa firm 105

cpa firm CPA auditor North Carolina 105

Going Concern

DECEMBER 11, 2023

In new research, Matthias Breuer, Anthony Le, and Felix Vetter find that when companies are required by the government to seek a third-party financial audit, they turn to lower quality auditors. At first sight, this result appears puzzling as it seems to suggest that more auditors can be attracted with lower wages.

auditor 105

auditor accounted Account accountant 105

CPA Practice

FEBRUARY 17, 2023

Checkpoint Engage Single Audit streamlines the error-prone single audit process with step-by-step in product guidance, enabling accounting professionals to comply with both their professional standards and government requirements, while confidently and efficiently performing these audits.

auditor 52

auditor audit accounting firms financial statements 52

Going Concern

MARCH 15, 2024

The NYT report’s focus was that private auditors from large firms failed and consistently missed child labor law violations. Auditors moved quickly and left before children arrived for overnight shifts, or they were not sent where minors worked.

auditor 116

auditor cpas Iowa audit 116

Going Concern

SEPTEMBER 29, 2023

75% of companies unprepared for coming ESG audits: KPMG [ CFO Dive ] Three out of four companies worldwide are unprepared for regulations coming into force next year requiring outside audits of environmental, social and governance policies, KPMG said. Still, the results give offshore bondholders something to chew on.

auditor 111

auditor audit New York CPA 111

CPA Practice

APRIL 29, 2024

Calling all public company executives, board members, auditors, financial analysts, and investors: The Public Company Accounting Oversight Board’s Investor Advisory Group (IAG) needs a favor. KAMs are selected from matters communicated with those charged with governance.

auditor 64

auditor audit financial statements Government 64

Going Concern

JULY 17, 2024

In the King’s Speech today, King Charles says (timestamped below) “bills will be brought forward to strengthen audit and corporate governance” in the UK. What this means is that the Financial Reporting Council (FRC) will be replaced with the Audit, Reporting and Governance Authority (ARGA).

audit 64

audit auditor institute of chartered accountants Government 64

Going Concern

MAY 26, 2023

PwC to remove staff involved in Australia tax leak scandal from govt work [ Reuters ] PricewaterhouseCoopers (PwC) has agreed to remove staff with links to the leak and use of confidential Australian tax plans from government work, a senior government official told an inquiry on Thursday. Big four consultancies win $1.4

public accounting 104

public accounting accounted Account accountant 104

Going Concern

AUGUST 29, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 105

Real Estate accounted Account accountant 105

Going Concern

FEBRUARY 27, 2023

. “IRS tech is so ‘archaic’ the agency struggles to find people to work it” from The Washington Post : The Internal Revenue Service, which funds nearly everything the federal government does, uses information technology that is creaking with old age. From FloQast : Six in ten (63%) U.K.

Technology 105

Technology accounted Account accountant 105

Going Concern

JULY 25, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 105

Real Estate accounted Account accountant 105