Accounting September 28, 2023
AICPA Launches Quality Management Practice Aid for Accounting and Auditing Practices
The practice aid is among numerous resources the AICPA provides to help firms successfully implement the QM standards.
Auditing September 26, 2023
BDO USA, Two Audit Partners Tagged with Fines for Breaking PCAOB Rules
BDO USA was fined $2 million and two of the firm’s partners were fined a total of $60,000 for failures in the 2017 audit of AAC Holdings.
Auditing September 20, 2023
Total Audit Fees Paid by S&P 500 Clients Reached All-Time High in FY 2022
However, the nearly 4% increase in audit fees over FY 2021 was less than the year-over-year inflation rate in 2022 of 6.5% in the U.S.
Accounting September 20, 2023
Great Resignation Turns Into the Great Stagnation for the Big Four Firms in the U.K.
Britain’s accountants, auditors and advisers are clinging to their jobs, nervous that their negotiating power has sharply dropped.
Auditing September 19, 2023
PCAOB Looks to Amend Rule on Auditors’ Liability for Audit Firm Violations
The proposal would hold auditors and others more accountable when they negligently cause their firm to violate auditing standards.
Taxes September 18, 2023
IRS Looks to Hire 3,700 Agents to Pursue Wealthy Tax Dodgers
The agency is ramping up compliance efforts against high-income earners, partnerships, large corporations, and promoters.
Accounting September 12, 2023
The Accounting Technology Lab Podcast – Review of Audit Sight – Sept. 2023
Technologists Randy Johnston and Brian Tankersley, CPA, discuss Audit Sight, a technology platform that eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification.
Taxes September 8, 2023
IRS is Using AI to Identify Wealthy Tax Cheats for Audit
The agency is opening examinations of 75 of the largest partnerships in the U.S. that on average have over $10 billion in assets.
Auditing September 5, 2023
Warren Averett Was the Recipient of a First-Ever Penalty From the PCAOB
The top 50 firm was fined $200,000 for auditor independence violations related to its membership in an accounting alliance.
Accounting September 1, 2023
Two-Thirds of Organizations Have Not Implemented ESG Controls to Ensure Accuracy of Data
The report found that two-thirds of organizations have not implemented ESG controls, and that 60% do not currently perform internal ESG audits.
Accounting August 29, 2023
Institute of Internal Auditors’ to Hold Financial Services Exchange Sept. 11-12 in D.C.
The Exchange provides internal auditors in the financial services space with the opportunity to share their greatest takeaways, tools, and techniques with other leaders.
Taxes August 28, 2023
TaxCure and Tax Rep Network Partner to Provide IRS Representation Education and Training
In addition to IRS representation training sessions, the partnership will enable tax professionals to explore adding new revenue streams to their practices with tax resolution services.