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March 20, 2023

When accounting goes unaccounted for

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Monday Morning Accounting News Brief: Bad Audit Haunts EY; Big 4 RTO in India; Why Can’t PwC Hire?? | 3.20.23 Friday Footnotes: An Outsourcing Shortage Now Too?; Finally, Some Disruption; PwC Haters Celebrate Government Inquiry | 3.17.23 MNCPA to Educators: “We Do Not Need New CPAs Who Have Additional College Credits; We Need More CPAs, Period.” Accounting Firm Leaders Cite ‘Rising Salaries’ As The Second Biggest Problem Facing Their Firms With Project Everest on Pause, Let’s Pause a Sec to Shed a Tear For EY’s Reputation As Transaction Advisors

Assisted Living Concepts

Audit

Fake Occupants Caused Some Some Problems in Grant Thornton’s Audit of Assisted Living Concepts

by Caleb Newquist

The SEC announced a settlement with Grant Thornton and two partners today over some bad audits that went down in America's Dairyland. The firm will pay $3 million in fines, plus forfeit $1.5 million in audit fees with interest. The partners, Melissa Koeppel and Jeffrey Robinson agreed to a $10k fine and a 5-year ban and $2.5k and 2-year ban, respectively.