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The value of audit certification and what it means for tax firms

ThomsonReuters

Driven 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, companies are increasingly setting their sights on ESG-related initiatives, such as audit certification. In fact, an article by global management consulting firm McKinsey and Co.,

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How the Accountant Shortage Is Rippling Through the Startup World

CPA Practice

The drought of talent has prompted a crisis in the industry, which has put the blame on stiff education requirements, sluggish pay, and tough competition from glitzier business school paths like investment banking and management consulting. You’ll have no issue finding someone to do your tax return,” he explains.

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Friday Footnotes: Tim Ryan Works Too Hard; Fake CPA Gets Violent Over QuickBooks Files; PwC PR | 10.20.23

Going Concern

A consulting firm struggled to find the right hybrid work model. day workweek [ Fortune ] Management consulting firm Insigniam has seemingly found that happy medium after instituting a 4.5-day Many records and documents requested by auditors were not provided by Williams and had been transferred to his personal laptop.

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Monday Morning Accounting News Brief: Unintended Audit Consequences; The IRS Needs Experienced Accountants; PwC AI | 9.18.23

Going Concern

‘There is no work to balance’: how shrinking budgets, Covid and AI shook up life in consulting : Andrew* is a 63-year-old partner in a small consultancy in England who finds himself with too much free time and too little cash. More than the number, auditors are exiting big names, which used to be a rarity.

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The SEC Has Charged Marcum’s Former National Assurance Services Leader With Being Ass at His One Job

Going Concern

In 2019, Marcum had served as the auditor for only 185 public company issuers; by 2022, Marcum was responsible for auditing over three times that number—a total of 575 issuers, the majority of which were SPACs. The SEC order has specifics: In 2020 and 2021, over 860 SPACs completed initial public offerings (“IPOs”) in the United States.

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Friday Footnotes: KPMG’s Idea of a Fun Summer; IRS Eats Their Homework; Downsized GT Downsizes | 5.13.22

Going Concern

Junior KPMG auditor ‘should not lose his home’ for misleading regulator, says tribunal [ Financial Times ] A former junior KPMG auditor should not receive a fine so large it could force him to sell his matrimonial home, a tribunal has said. ” COVID-19 has negatively impacted how auditors work [ Phys.org ] Duh?

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Friday Footnotes: XOXO, Accountants; PwC Wants Tax Cuts; KPMG Stacks Partners | 7.1.22

Going Concern

Ernst & Young IPO Will Create a Lot of Sour Grapes [ Washington Post ] Big Four auditor Ernst & Young LLP’s potential IPO of its consulting activities could trigger stock windfalls of as much as $8 million each for the consulting partners, according to the Financial Times. .”

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