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Accounting Groups Call for More Competitive Pay for Government CPAs

CPA Practice

We have a talent shortage in accounting that affects business as a whole, and many of the pipeline initiatives the profession is putting in place will help the public sector as well,” said Susan Coffey, CPA, CGMA, the AICPA’s CEO of public accounting. “We

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PCAOB Gives Chinese Audit Firm the Boot Over Rules Violations

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) revoked the registration of a Chinese audit firm on Nov. First, on multiple occasions, the accounting firm failed to timely report the participants in its issuer audits on PCAOB Form AP, in violation of PCAOB Rule 3211, Auditor Reporting of Certain Audit Participants.

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Big 4 Firms Fight Against Metrics That Would Reveal the Workloads Behind the Curtain

Going Concern

Average number of years worked at a public accounting firm (whether or not PCAOB-registered) by senior professionals across the firm and on the engagement. Further compounding this risk is the perception that reporting deadlines are seemingly fixed, leaving some auditors wishing they had more time to conduct a better audit.

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PCAOB Looks to Amend Rule on Auditors’ Liability for Audit Firm Violations

CPA Practice

A proposal issued by the Public Company Accounting Oversight Board (PCAOB) on Tuesday would hold auditors and others more accountable when they negligently, directly, and substantially cause their firm to violate auditing standards.

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UHY Receives Private Equity Funding From Summit Partners

CPA Practice

million during its most recent fiscal year, according to INSIDE Public Accounting. The separation of audit and non-audit services allows the firm to comply with securities laws ​​prohibiting conflicts of interest that could impair the objectivity of the firms’ auditors. In the U.S., UHY in the U.S. had revenue of $346.6

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Lovesac to Pay SEC $1.5 Million to Settle Claims of Hidden Expenses

CPA Practice

The scheme included Dellomo’s submission of a “false and misleading” management representation letter to Lovesac’s outside auditor, according to the lawsuit. The employee’s report triggered an internal investigation, the lawsuit said.

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Monday Morning Accounting News Brief: PwC Partner Banned; Salary Predictions; Public Accountants Have Had It | 1.23.23

Going Concern

Brazilian retailer and PwC client Americanas filed for bankruptcy, its three largest shareholders said over the weekend they had not known of $4 billion in accounting inconsistencies. “We didn’t know of and would never allow any accounting manipulation in the company”, they said in a statement.