Auditing
PCAOB Sees Glut of Faulty Broker-Dealer Audits
More than half of the audits of brokers and dealers inspected by the PCAOB last year had mistakes, according to a new report.
Jason Bramwell
Jason Bramwell is senior staff writer for CPA Practice Advisor. He has nearly 25 years of professional writing experience, the last nine covering the accounting profession. He most recently was a staff writer and editor at Going Concern, and he previously spent five years as a staff writer and editor at AccountingWEB. He can be reached by email at jbramwell@cpapracticeadvisor.com.
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Taxes
IRS Gives Taxpayers New Faxing Option to Request Relief on Late International Forms
The IRS says this electronic option removes a step in the paper process, which saves time and eases the burden on international taxpayers.
Auditing
PCAOB Has Handed Out a Slew of Punishments to Audit Firms Recently
The audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. 11 for breaking various auditing rules.
Firm Management
BDO USA Calls Its New ESOP 'a Game-Changer' for the Profession
The sixth-largest public accounting firm in the U.S. said on Monday its ESOP would be among the largest in the country.
Taxes
IRS Warns Employers About Abusive ESOP Schemes
The IRS has concerns that employee stock ownership plans are being used by some wealthy taxpayers as a tax avoidance tool.
Firm Management
SingerLewak Merges In Puget Sound Area CPA Firm
Bremerton, WA-based Hearthstone CPA Group will keep its name but operate as Hearthstone CPA Group, a division of SingerLewak.
Taxes
Treasury, IRS Issue Final Rules on Bonus Energy Tax Credits for Poorer Communities
A new program gives eligible solar and wind facilities in low-income areas increased investment tax credits of 10% or 20%.
Firm Management
Cherry Bekaert Acquires MCM CPAs & Advisors
The deal involves two of the top 75 largest accounting firms in the U.S. by revenue.
Auditing
Which Firm Had the Most IPO Audit Clients In Q2 2023?
In total, 15 different accounting firms audited the 34 newly listed companies in the second quarter.
Firm Management
RSM US Reaches Revenue of $3.7 Billion in FY 2023
Chicago-based RSM remains the fifth-largest accounting firm in the U.S. by revenue, only behind the Big Four firms.
Auditing
Accounting Firms Are Messing Up on Audits at an Unacceptable Rate, Says PCAOB Chair
A new report shows a year-over-year increase in the number of audits with deficiencies at firms that the PCAOB inspected in 2022.
IRS
IRS Targets Monetized Installment Sales in Proposed Regs
Under the proposal, monetized installment sale deals would be considered listed transactions by the IRS.