Going Concern

JUNE 13, 2023

Financial Reporting Council chair and stereotypically European named Jan du Plessis has told the Financial Times that audit firms — who regularly complain about the UK audit regulator being up their asses — should pay their junior auditors more. And we have all heard the complaints from junior auditors.

auditor 111

auditor audit financial statements Legal 111

SMBAccountant

OCTOBER 21, 2020

Bad Debt – both actual and estimated losses from uncollectible accounts receivable including collection costs and legal costs are not allowed. DCAA provides an excellent online reference tool, the Selected Area of Cost Guidebook, for contractors and auditors alike to review costs for allowability.

Government 246

Government general ledger Account accountant 246

CPA Practice

OCTOBER 31, 2023

recruitment and/or hiring tool, then carefully review the contract to understand what, if any, indemnities or other protections you’re getting from a vendor to understand your legal risks should a legal challenge to your use of A.I. While internal information technology resources may be able to help monitor and audit the A.I.

Legal 116

Legal audit payroll Technology 116

TaxConnex

APRIL 25, 2024

There’s another consideration for going in-house: The legal liability is all yours if you miss a compliance matter. Are they experienced with auditors? What resources will your people need to handle this responsibility? What will be their reaction to the new workload – and your potential cost of employees quitting down the road?

Sales 264

Sales Tax accounting and finance auditor 264

Going Concern

APRIL 7, 2023

PwC offers cutting edge AI technology with ContractPodAi [ ERP Today Magazine ] PwC has entered into an alliance with ContractPodAi, allowing the firm to offer a cutting edge AI-powered legal contract management platform. and overseas” seeking further explanation about the auditor’s opinion. If Your Job Exposed to ChatGPT?

auditor 105

auditor chartered accountant audit accounting and finance 105

Going Concern

JULY 31, 2023

Related: PwC settled ‘false LPP’ penalties days before bid to suppress emails [ Australian Financial Review ]: The Tax Office signed a confidential settlement with PwC in March involving the firm’s false claims for legal professional privilege over 150 documents related to tax advice to a multinational client. That’s all I’ve got.

auditor 98

auditor Account accountant accounted 98

ThomsonReuters

SEPTEMBER 3, 2024

The 2024 Generative AI in Professional Services research conducted by the Thomson Reuters Institute provides a comprehensive overview of the burgeoning role of GenAI across various professional sectors, including legal, tax, accounting, risk, and government.

auditor 72

auditor audit tax accountant Tax 72

TaxConnex

DECEMBER 21, 2021

There’s another consideration for going in-house: The legal liability is all yours if you miss a compliance matter. Are they experienced with auditors? What resources will they need to handle this new responsibility? What will be their reaction to the new workload – and your potential cost of employees quitting down the road?

Sales 245

Sales Tax cpa firm CPA 245

Accounting Today

OCTOBER 16, 2024

The new regulatory environment has faced legal challenges, creating uncertainty for companies and auditors.

auditor 63

auditor Legal audit Tax 63

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.

auditor 69

auditor audit financial statements Legal 69

TaxConnex

MARCH 21, 2024

Auditors slapped Amazon with some $12.5 The New York Tax Appeals Tribunal has affirmed an Administrative Law Judge’s ruling that there was no legal basis for a taxpayer to claim a credit for sales tax refunded at the end of a lease because the statute required that tax be paid at the beginning of the lease term.

South Carolina 264

South Carolina Sales Tax Alabama 264

CPA Practice

FEBRUARY 23, 2024

Auditors are poised to become crucial facilitators in the accounting and finance function’s adoption of AI and large language models (LLMs). Auditors are the Keystone for AI Integration The successful integration of AI has one essential requirement—a nuanced understanding of the model’s data origins and its interpretations.

audit 114

audit auditor accounting and finance Technology 114

CPA Practice

SEPTEMBER 10, 2024

I am pleased to approve this standard because it will improve the quality control systems of auditors, and thus better protect investors.” Does the answer differ depending on whether the person is an auditor? Does the EQCF requirement broaden the PCAOB’s reach to parties over which it has no legal jurisdiction?

auditor 116

auditor audit Legal accounting firms 116

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. Dr. Shetty is NMC’s founder and he has his own, separate but related legal problems. The administrators say that $1.5

audit 105

audit auditor Legal Transportation 105

PYMNTS

FEBRUARY 6, 2020

While opportunities for supply chain finance and dynamic discounting can be found across verticals, demand for these capabilities is particularly high in the corporate legal services industry. “It’s a very symbiotic relationship between the in-house legal department and outside counsel,” he told PYMNTS in a recent interview.

Legal 52

Legal accounts payable accounting and finance Finance 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. Will the EDD auditor come to my business location?

audit 130

audit payroll tax Tax auditor 130

CPA Practice

DECEMBER 3, 2024

The two firms operate as separate legal entities in an alternative practice structure: UHY LLP is a licensed independent CPA firm that performs attest services, while UHY Advisors provides tax and business consulting services through subsidiary entities. UHY is the brand name under which UHY LLP and UHY Advisors Inc.

Non-Profits 111

Non-Profits tax consultant auditor cpa firm 111

Going Concern

APRIL 22, 2024

Those of us who’ve worked or even simply seen behind the curtain of audit know the things he points out to be true — assurance is reasonable not absolute , financial statements are the responsibility of management not auditors, “finding fraud” is not the ultimate goal of audits — but do investors?

audit 119

audit auditor financial statements Education 119

AdviceForTaxpreparers

SEPTEMBER 8, 2020

Issue 3: I am an accounting major, auditor, or I don’t have enough experience in tax to promote the book. Once you have the coupon code you can promote it through whatever legal means that you deem appropriate (i.e., You could promote the book for ten minutes every six months or spend hours every weekend. The choice is up to you.

tax preparation 246

tax preparation Tax cpa firm tax return 246

TaxConnex

OCTOBER 27, 2020

Use tax is one of the most misunderstood areas of multistate taxation and one area where state tax auditors generally make significant collections each year from unsuspecting taxpayers. Other states consider use tax to be only the tax that is paid directly by the purchaser when the retailer does not charge the tax.

Sales 246

Sales Tax Retail auditor 246

CPA Practice

AUGUST 15, 2023

Snodgrass —failed to obtain audit committee pre-approval in connection with providing audit and/or non-audit services to issuer audit clients, in violation of PCAOB Rule 3520, Auditor Independence , and for two of the three firms (BPM and Plante Moran) PCAOB Rule 3524, Audit Committee Pre-Approval of Certain Tax Services.

audit 98

audit auditor accounting firms cpas 98

Cherry Bekaert

MAY 26, 2023

IT auditors must ensure that organizations have appropriate controls in place to mitigate these risks. IT auditors must ensure that organizations have effective cybersecurity controls in place to prevent and detect cyberattacks. Governing bodies such as the U.S.

Technology 92

Technology audit auditor Legal 92

Going Concern

DECEMBER 8, 2022

People on the inside have said that the split is delayed as the firm hammers out the details, mostly legal.

auditor 105

auditor Legal audit financial statements 105

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 audit 105

Going Concern

MAY 20, 2024

PwC is facing legal action claiming the accountancy firm is liable for the alleged rape of a graduate employee following after-work drinks. Auditors are required to include a going-concern warning if they believe there is a risk that the company may go bankrupt, rather than making a prediction that it will. TL;DR It’s about time!

audit 105

audit auditor Account accountant 105

Going Concern

MAY 31, 2024

Municipal Dumpster Fires Woonsocket city council respond to auditors abruptly quitting [ WLNE Providence ] Shout-out Mary Sahady who finally had enough of this b t and told this messy client to get bent. Woonsocket officials are hoping city auditors will change their mind, after they abruptly quit this past week.

auditor 106

auditor audit accounting and finance New York 106

Going Concern

MARCH 8, 2024

Deloitte Legal Chief Sees Opportunity in GCs’ Need to Modernize [ Bloomberg Law ] GC = general counsel The new global head of Deloitte’s legal services arm said he’s focused on delivering more integrated consulting to general counsel while acknowledging the Big Four’s entry into legal services has gone slower than many anticipated.

audit 100

audit auditor New York Legal 100

MyIRSRelief

OCTOBER 28, 2022

During the audit, the CA FTB auditor is looking to find anything on your tax return in the case of an individual or the review of your books & records in the case of a business. They use it to gather information from you and to inform you of what they already know about your tax situation.

California 130

California audit Tax income tax 130

Going Concern

AUGUST 22, 2022

PwC is being sued by a 28-year-old auditor who claims he suffered a serious head injury after attending a work event that involved an “excessive” drinking game of pub golf. Let’s talk legalities, drug tests, and relief. Firms might try to get you back in the office after Labor Day. PwC is lowering its hiring standards.

auditor 59

auditor Account accountant accounted 59

Going Concern

JULY 17, 2023

KPMG Nederland director Marc Hogeboom is also stepping down as boss of the accounting arm, but remains an auditor and partner at KPMG. Faribault County in Minnesota is short-staffed : With county auditor/treasurer Jessica Blair’s last day on the job, Aug. Overall, the average job using the skill pays $146,244.

Account 96

Account accountant accounted auditor 96

Going Concern

MARCH 22, 2023

Shetty, who is in his own legal trouble, is himself suing Bank of Baroda, EY and Credit Europe Bank of the Netherlands in a New York court for $8 billion in damages. billion claim against Big Four auditor EY for alleged negligence. for audit negligence with regards to its work with the company between 2012 and 2018.

audit 98

audit auditor Legal Healthcare 98

CPA Practice

SEPTEMBER 11, 2024

William Melhado The Sacramento Bee (TNS) Delayed spending and a lack of oversight threaten to disrupt a $100 million grant program run by the Department of Cannabis Control intended to help businesses secure state licenses, a recent report by California State Auditor found.

California 76

California auditor audit Legal 76

SMBAccountant

OCTOBER 21, 2020

Bad Debt – both actual and estimated losses from uncollectible accounts receivable including collection costs and legal costs are not allowed. DCAA provides an excellent online reference tool, the Selected Area of Cost Guidebook, for contractors and auditors alike to review costs for allowability.

Government 100

Government general ledger Account accountant 100

Going Concern

AUGUST 22, 2024

” “The inaccurate statements and false allegations could tarnish PwC’s reputation and infringe our legal rights,” added that statement. PwC Hong Kong soon after put out a statement to say “the letter contains inaccurate statements and false allegations concerning PwC and certain of our partners.”

audit 105

audit auditor financial statements Legal 105

Going Concern

NOVEMBER 11, 2022

The next generation of accountants and auditors is in demand, but Ben Lansford, an accounting professor and director of the Master of Accounting program at the Jones Graduate School of Business at Rice University explained why some are hesitant. Many auditors responding to the FERF study noted an increase in effort by their teams (68%).

audit 98

audit auditor Louisiana cpas 98

Going Concern

OCTOBER 31, 2022

The story is behind a paywall but Law.com says that during a recent Law.com webinar, EY global law leader Cornelius Grossmann said a new EY company, split from its audit business, would focus on largescale clients and projects that are multidisciplinary in nature, with legal services being a key—but not dominant—component. It has to work.”

Account 105

Account accountant accounted audit 105

CPA Practice

JANUARY 17, 2023

The increased need for accountants and auditors is driven by factors such as globalization, an expanding economy, and a complicated tax and regulatory environment. Public accountants will also be more necessary when more businesses go public since they must manage the legally required financial documentation. Accounting is ranked No.

cma 126

cma CPA accounting and finance public accounting 126