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Tuesday Morning Accounting News Brief: CPA Numbers Are Abysmal; PwC Blocked Government Inquiry | 5.30.23

Going Concern

The number of people taking CPA exams in 2022 was just over 67,000, down from 72,000 in 2021 and short of the institute’s forecast of 74,000, according to a note in AICPA’s annual report published this month. Details shared among the AICPA’s governing council showed that even that figure was flattered by candidates from overseas.

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B2B Payment Terms In Flux Amid Market Volatility

PYMNTS

recent reports in the Financial Times said the Cabinet Office has encouraged all public entities, including government departments, hospitals, councils and schools, to continue their supplier payments and coordinate with their vendor bases. In the U.K., million businesses in the U.K.

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King Charles Gives Audit Reform a Shout-Out, Guy Not at Big 4 Complains Big 4 Gets All the Business

Going Concern

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).

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A New Zealand Accountant Took Client Retention to a Whole Other, Insane Level

Going Concern

It appears all of this (alleged) behavior stems from the accountant not wanting to lose her clients and lashing out at them when they tried to call things quits. ” The client was a bakery that ran into problems when they tried to switch to a different accountant.

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UK Accounting Watchdog Ramps Up Fines

PYMNTS

Scrutiny of the FRC ramped up earlier this year, following a government probe into the collapse of contractor Carillion. The watchdog and the nation’s pensions regulator were “united in their feebleness and timidity,” a U.K. Meanwhile, other lawmakers have called on the FTC and the U.K.’s Michael Izza, head of the U.K.

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Friday Footnotes: Accounting AI Explodes; SOX Compliance Sux; KPMG Gets on a List | 6.17.22

Going Concern

ICAN to attract youths to accounting profession [ Punch Ng ] Meanwhile in Nigeria…sound familiar? The post Friday Footnotes: Accounting AI Explodes; SOX Compliance Sux; KPMG Gets on a List | 6.17.22 appeared first on Going Concern.

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Friday Footnotes: Look What You Did, PwC; No Lakehouse This Year; India Wants Its Own Big 4 | 5.3.24

Going Concern

That PwC Thing Senate caravan not moving on from PwC [ The Mandarin ] Accounting firm PwC Australia has still a lot of work to do before it can move on from the tax leaks scandal, according to two members of a Senate committee looking into government procurement. It looks that way. It may be in the works.