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December 2, 2022

ch-ch-ch-changes

Thumbs down BDO LLP

BDO USA Is Finally Trying to Do Something to Improve Its Horrible Audit Quality

While PCAOB inspection reports are only one indicator of how good or bad a public accounting firm’s audit quality is, it’s still pretty embarrassing when a firm gets a bad report card. Consecutive years of horrible inspection reports (2013 and 2014) is what drove KPMG executives to hatch a scheme to steal confidential audit inspection […]

Twitter’s Latest 10-Q Is a Perfect Example of Why No One Wants New Lease Accounting

We all know Twitter — like a lot of "successful" tech companies — isn't exactly making profits hand over fist despite decent revenue but did you know how bad their lease situation is? Spoiler alert: it's bad. In their latest 10-Q filed with the SEC a few days ago, we find the following: So total […]

CPA Exam Changes Ahead in the Next One to Three Years

As we told you earlier this year, the CPA exam overlords are working on CBT-3, which is the natural evolution of CBT-e (2011) and CBT-e's dusty grandpa CBT (2004). We still aren't totally sure what they're changing around but it looks like they're still looking for help with writing and testing questions before candidates experience […]

Save the Date: PCAOB April Public Meeting on the Auditor’s Reporting Model Proposal

The PCAOB is preparing for its April 2-3 public meeting this week, and while I really wanted an excuse to spend two days in Washington trolling the PCAOB IRL, I decided catching the webcast from the comfort of my Lovesac in my pajamas was a much better decision. The panelists aren't much to write home […]

Here Are a Few New Regulations That May or May Not Affect Your CPA License Come January 1st

A new year is nearly upon us and with it comes not only the promise of a fresh start and possibly shedding a few pounds but — YAY! — new regulations! Here are just a few state-by-state to be aware of. Hopefully you are the type who keeps up on this stuff but if you're […]