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Long Read How a Pandemic-Era Program Became a Magnet for Fraud [ New York Times ] Amid the onset of the pandemic in 2020, as large swaths of the economy went into lockdown, Washington set up various programs to help keep businesses and their workers afloat. appeared first on Going Concern.
Certified PublicAccountants from across the nation made their way to Capitol Hill last week to meet with lawmakers on issues important to the accounting profession during the American Institute of CPAs (AICPA) Spring Meeting of Council and Annual Members Meeting from May 23-25. government’s financialstatements.
The Florida Institute of Certified PublicAccountants (FICPA) recently announcedJim Gurowka, CAE, as its new Chief Growth Officer (CGO), effective Sept. Gurowka comes to the FICPA after a 19-year tenure as Senior Vice President of the Institute Management Accountants (IMA). She holds a B.S.
Given the demands CPAs face — often, they serve on understaffed teams due to a shortage of accounting talent, while also needing to obtain continuing professional education credits in order to maintain their certified publicaccounting licenses — some experts were not surprised to hear about the multi-tasking practice. “If
The proposal comes amid frustration in Washington that audit firms are not living up to their duty to protect investors from wrongdoing by their clients. Non-audit arrangements are neither as rigorous nor as comprehensive as a financialstatement audit, and may not provide any reasonable assurance to investors.
Businesses should be prepared to provide documentation supporting their ERC claims, including payroll records, financialstatements, employment tax returns, and any other relevant records. Certified PublicAccountants (CPAs): CPAs are licensed accountants with expertise in tax matters.
KPMG layoffs by u/corpslave_1998 in Big4 Deloitte fights for another shot at $789M SHARKCAGE cyber contract [ Washington Technology ] Deloitte wants back into the competition for a $789 million Navy contract that was captured by Accenture. This legislation is supported by State Auditor Julie Blaha and the Minnesota Society of CPAs.
SPAC Audit Kings: How Soaring IPO Market Ensnared Marcum, Withum [ Bloomberg Tax ] The fortunes of two mid-sized accounting firms rose and fell with the SPAC craze, sending auditors into overdrive as they vetted the financialstatements of a surge of blank-check companies hunting for Wall Street’s next big deal.
ProPublica did a story on “how remote work and artificial intelligence are ushering in new kinds of fraud in state and local governments” and interviewed Washington state auditor Brandi Pritchard. As far as we can tell, it’s the largest government misappropriation [by an employee] in Washington state’s history.
The big news in the accounting profession yesterday afternoon from Dave Michaels of the Wall Street Journal was that the SEC is investigating the Big 4 and other publicaccounting firms on whether the consulting and non-audit services they sell to clients is conflicting with their independence as the auditors of said clients.
history after the 2008 failure of Washington Mutual and was seen as a sign of trouble for the broader technology sector. Since TowerBrook’s investment into EisnerAmper, the first in the publicaccounting sector, other private equity firms have followed suit. The collapse marked the second largest bank failure in U.S.
These deals must not result in a significant culture shift away from its focus on audit quality, SEC Chief Accountant Paul Munter said in an interview with The Wall Street Journal at a conference in Washington, D.C. Their work can suffer as a result, in quantifiable and costly ways.
SEC’s Gensler Casts Doubt on Prospects for China Audit Deal [ Wall Street Journal ] Securities and Exchange Commission Chairman Gary Gensler expressed doubt Wednesday that negotiators in Washington and Beijing will reach an agreement over audits that is necessary to prevent Chinese companies from being delisted by U.S. stock exchanges.
Biggest Stablecoin Issuer, Tether, Switches Accounting Firm to BDO Italia [ Wall Street Journal ] Tether Holdings the issuer of the world’s largest stablecoin, said on Thursday it switched the accounting firm that signs off on its attestation reports to BDO Italia, the Italian member firm of BDO. ” Oh, Reddit.
Early this year, PwC had more certified publicaccountants in Austin than anyone else, with 135. While the US Securities and Exchange Commission doesn’t technically approve SPAC deals, it requires audited, accurate financialstatements to declare such tie-ups effective. Sound convoluted?
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