Cherry Bekaert

MAY 26, 2023

As organizations continue to rely on technology to achieve their business objectives, information technology (IT) risks continue to evolve, becoming increasingly complex and challenging to many organizations. IT auditors must ensure that organizations have appropriate controls in place to mitigate these risks.

Technology 92

Technology audit auditor Legal 92

Going Concern

NOVEMBER 1, 2023

The press release says: A number of Deloitte auditors in Ontario changed the date and time settings on their computer clocks to manually override controls in Deloitte’s audit software and backdate audit working paper signoffs between November 2016 and May 2018. CPA Ontario announced yesterday Deloitte will be paying $1.59 million ($1.15

auditor 138

auditor audit CPA accounted 138

Going Concern

MARCH 15, 2023

While the general investing public is asking “where were the auditors?” To any members of the general investing public reading this: “due professional care” means the independent auditor planned and performed the work required of them according to audit standards. Back to the auditors.

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auditor audit accounting principles financial statements 145

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.

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auditor audit financial statements Legal 69

TaxConnex

NOVEMBER 12, 2024

Audits – both the auditors’ accusations and your defense – hinge on documentation. Auditors routinely request sales tax returns, federal income tax returns, G/L details, fixed asset schedules, sales journals and purchase journals. The audit itself Take charge of the information flow. Review the paperwork. Prepare your employees.

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audit Sales Tax auditor 147

Going Concern

NOVEMBER 1, 2022

Last week the Australian Securities and Investments Commission (think Aussie PCAOB) informed us that Deloitte and KPMG need to take “continued deliberate and concerted action” to improve the quality of their audit work because apparently it is just that bad. In short, things are not looking so hot for upside down auditors.

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auditor audit Start-ups Technology 111

CPA Practice

JUNE 27, 2023

A rules proposal issued by the Public Company Accounting Oversight Board (PCAOB) on June 26 addresses aspects of designing and performing audit procedures that involve technology-assisted analysis of information contained in electronic format.

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auditor Technology audit financial statements 52

CPA Practice

MARCH 8, 2024

The Institute of Internal Auditors is currently reviewing the U.S. The SEC’s final rule, “ The Enhancement and Standardization of Climate-Related Disclosures for Investors ,” requires registrants to disclose certain climate-related information in their registration statements and annual reports.

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auditor audit Government CPA 52

CPA Practice

MARCH 7, 2024

The Institute of Internal Auditors is currently reviewing the U.S. The SEC’s final rule, “ The Enhancement and Standardization of Climate-Related Disclosures for Investors ,” requires registrants to disclose certain climate-related information in their registration statements and annual reports.

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auditor audit Government CPA 52

ThomsonReuters

APRIL 30, 2024

Auditors rely on data review to ensure the reliability and integrity of financial statements. Auditors must ensure that financial statements are free from material misstatements and that all relevant information is included. It helps auditors identify errors, irregularities, and potential fraud.

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auditor audit Technology financial statements 52

CPA Practice

JUNE 7, 2023

The PCAOB on Tuesday introduced a proposal amending current PCAOB auditing standards related to the auditor’s responsibility to detect noncompliance with laws and regulations, including fraud, in the audit of a public company. Those very same investors are who we are here to protect. And that’s what we are doing today with this proposal.

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auditor audit financial statements 52

CPA Practice

NOVEMBER 13, 2024

Wolters Kluwer, a provider of information, software, and services for professionals, has collaborated with The Institute of Internal Auditors’ Internal Audit Foundation on a research report: Harnessing Generative AI for Internal Audit Activities.

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audit auditor Government 111

TaxConnex

OCTOBER 24, 2023

Still, many events can trigger an audit, such as one of your customers being audited and the auditor seeing one of your invoices without sales tax, industry audits where taxing authorities target specific industries, or perhaps just random bad luck. Organize your information. Guard what you say and what information you offer.

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audit Sales Tax auditor 147

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. and Congressman Jason Smith, R-Mo.,

auditor 98

auditor accountant Account accounted 98

CPA Practice

OCTOBER 8, 2024

According to a new report from top six accounting firm BDO USA, company finance leaders are expecting technology like artificial intelligence to be used by their external auditors now to enhance their audit engagement and consider it the second-most important factor when choosing an audit firm.

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audit Finance auditor Technology 143

Accounting Today

OCTOBER 10, 2023

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

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auditor audit Technology 134

Going Concern

MARCH 31, 2023

auditors who believe their part of the firm could end up weakened by a deal. accountants and auditors last year climbed at their quickest pace in recent years, but industry observers say increasing pay alone may not be enough to remedy a national shortage of accountants. John King and Frank Mahoney, senior U.S.

auditor 105

auditor audit Virginia Technology 105

Cherry Bekaert

MARCH 15, 2023

Author: Fred Nitting, Managing Director, Risk & Accounting Advisory Services Identifying the right internal auditor is a crucial business decision and professional CPA firms vary widely in terms of capabilities, resource availability, qualifications and much more. Ensure that you understand the answers they provide.

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auditor audit cpa firm Education 52

Going Concern

FEBRUARY 2, 2023

If you include the last time Cohen & Company auditors screwed up an audit, which was in 2017, that’s two mistakes in the last 43 audits inspected, for a deficiency rate of 4.6%. The post Turns Out Cohen & Company Auditors Are Human After All appeared first on Going Concern.

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auditor audit financial statements accounting firms 59

Going Concern

JANUARY 20, 2023

PwC and Deloitte were the final two firms in HSBC’s marathon tendering process that effectively began when the bank informally contacted accounting firms in 2021, according to people familiar with the process. The HSBC audit is by a distance the most expensive on the London Stock Exchange ahead of those at Barclays and Shell.

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auditor Technology audit financial statements 98

ThomsonReuters

DECEMBER 6, 2022

Today, ESG is resulting in significant opportunities for auditors, fueled by the widening range of stakeholders calling for ESG prioritization, an influx of laws and regulations pertaining to ESG, and a rise in ESG investment products. What is the role of the auditor in ESG reporting?

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auditor accountant Account accounted 59

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. and overseas” seeking further explanation about the auditor’s opinion. appeared first on Going Concern.

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auditor chartered accountant audit accounting and finance 105

FraudFiles

DECEMBER 28, 2020

Often, the blame is cast in the direction of the auditors. The auditors are an easy target. Not only do they usually have professional liability insurance policies to fall back on, the auditors initially seem like the logical culprit. Auditors make no assurances about whether or not fraud exists in a company. Accusations.

auditor 52

auditor audit financial statements accounting system 52

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.

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auditor audit CPA accounting principles 116

ThomsonReuters

JANUARY 3, 2023

Too many of today’s auditors are stressed and overworked. Therefore, firms need to ensure that auditors can access the tools they need and achieve the greater work-life balance they desire should they wish to retain top talent. . Auditors are no exception. What challenges do auditors face today?

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auditor audit Technology Gaming 59

Going Concern

OCTOBER 14, 2022

A longer, meatier report from auditors was introduced over the past decade in both the US and Europe. The Auditor’s Responsibility for Fraud Detection [ SEC ]. The post Friday Footnotes: Big 4 Nixes Legal Practices; EY Looks the Other Way; Auditors Get Lectured Again | 10.14.22 appeared first on Going Concern.

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auditor Legal audit South Carolina 98

CPA Practice

OCTOBER 17, 2024

State and local governments are being squeezed by a shortage of accounting professionals, making it difficult at times to find staff CPAs who can prepare critical financial information or outside firms to conduct audits. Evaluation of external auditors should consider CPA firm qualifications, not just proposed fees.

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cpas Government auditor accountant 119

CPA Practice

NOVEMBER 7, 2024

Proposal 2025 Firm and Engagement Metrics Enhance information provided to investors, audit committees, and other stakeholders at both the firm and engagement level. Adoption 2025 Inventory Consider updates to AS 2510, Auditing Inventories , in connection with the Interim Standards project to reflect changes in the auditing environment.

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auditor audit financial statements Government 104

FraudFiles

JANUARY 4, 2021

Even with all the publicity surrounding the issue of financial fraud in the last twenty years, most auditors, investors, and other professionals still do not “get it” when it comes to detecting fraud. The audit is simply a process by which auditors check the company’s math and application of accounting rules.

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auditor audit financial statements accounting and finance 52

FraudFiles

AUGUST 11, 2021

During the request for proposal (RFP) process, the partners got confidential information from the audit committee, as well as information about other proposers. What the chief accounting officer (Stiehl) did amounted to “auditor selection process improprieties.”

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auditor audit Account accountant 52

MyIRSRelief

JUNE 28, 2024

The FTB selects tax returns for audit based on various criteria, including discrepancies between state and federal tax returns, prior audit history, and information from third-party sources. The FTB requests specific documents and information to verify items on the tax return.

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audit California Tax tax return 130

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. Hodgman, Associate Director of the SEC’s Enforcement Division.

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auditor audit CPA accounting principles 98

TaxConnex

APRIL 4, 2023

One of your customers undergoing their own sales tax audit might unearth one of your invoices, resulting in the auditor possibly contacting you for a certificate of exemption or other documents. An audit of one of your suppliers could turn up one of your exemption certificates for something the auditor may think is taxable.

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audit Sales auditor Tax 130

CPA Practice

SEPTEMBER 17, 2024

Accounting automation platform Trullion announced its Audit Suite, a cloud-based solution designed for auditors to leverage artificial intelligence to enhance accuracy and reduce human error in audits. Audit Suite allows auditors to centralize and streamline their process. More information on Trullion Audit Suite can be found here.

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audit auditor accounts payable financial statements 102

CPA Practice

OCTOBER 8, 2024

The 12th Annual Global Technology Audit Risks Survey by Protiviti and The Institute of Internal Auditors (IIA) highlights how AI is reshaping the perception of existing risks, with 59% of IT audit leaders identifying AI as a significant threat over the next two to three years.

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audit auditor Government Finance 136

CPA Practice

FEBRUARY 17, 2023

Users enter their client’s federal award information and expenditures and answer a few questions, then the application performs complex calculations to determine which awards must be audited. A compliance audit program is then prepared, containing the procedures that must be performed.

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auditor audit accounting firms financial statements 52

MyIRSRelief

JANUARY 7, 2024

The auditor will request various documents, such as payroll records, bank statements, contracts, and other business records. Time-Consuming Process: Audits can be time-consuming, requiring you to gather extensive documentation and communicate with the auditor. This can distract you from running your business.

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audit payroll tax Tax auditor 130