EY Is Haunted By Some Lingering Independence Problems
Yesterday the PCAOB made public additional portions of EY’s 2018 inspection report “because the firm did not address certain quality control issues to the satisfaction of the Board within the 12 months following the date of the report.” EY’s 2018 PCAOB inspection report is dated April 28, 2020 and in it, the Board said EY […]
Big 4 Conflicts of Interest Are in Regulators’ Crosshairs, EY Tops the Independence Naughty List
There’s a story in the New York Times today about how EY “devised an elaborate arrangement” for nonprescription drugmaker Perrigo to avoid more than $100 million in taxes, an arrangement that was questioned by Perrigo’s then-auditor BDO. Perrigo did what any reasonable tax-avoiding nonprescription drugmaker would do and dropped BDO for EY, hence totally resolving […]
How to Avoid Conflicts of Interest as a Freelance Remote Accountant
If you’ve been a freelance remote accountant for long, it’s probably already happened. You’ve got two clients, Client A and Client B, that are both in the same industry. Client A finds out you’re working for Client B and unleashes the fury on you: “How dare you help our competitors?” And the response you want […]
Some Europeans Told the European Commission to Fire PwC Over Conflict of Interest
Over in Europe, PwC has won a €395,000 contract to come up with a report on the impact of country-by-country reporting, which basically forces multinationals to break out reporting by country versus "Europe" or "the Americas." Public country by country reporting for EU banks would include data from banks regarding their turnover, staff numbers, taxes […]