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June 2, 2023

When accounting goes unaccounted for

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Promotion Watch ’23: EY Promotes 966 to Partner, Missing Last Year’s Record of 1033 Kill the Audit Industry, Says Ex-Auditor KPMG Gets Sued, Accused of Allowing Pirate-Like Activity at Credit Suisse Promotion Watch ’23: The Baker Tilly Partner Bench Is Now 44 People Deeper House Speaker Kevin McCarthy Celebrates Defunding the Agents the IRS Wasn’t Gonna Be Able to Hire Anyway

just another day in the Capital Wasteland

PCAOB

Save the Date: PCAOB Investor Advisory Group meeting October 20

by Adrienne Gonzalez

This just in! The Public Company Accounting Oversight Board today announced that it will hold a meeting of its Investor Advisory Group on Wednesday, October 20, 2014. Topics that the IAG will present to the Board include: ·         The audit firm business model and incentives ·         How to improve audit quality and the relevancy of […]

News

It’s Not Accrual World For These Forty-Six Senators Who Are All For Cash Accounting

by Adrienne Gonzalez

You may have heard that the Senate is considering, as part of tax reform, to require many cash basis businesses to make the switch to accrual. Because nothing says "reform" like using the method that doesn't actually require money changing hands. Well, the AICPA hates the idea. I'm sure you thought what I did at […]

EY

EY Is In Trouble With the SEC For Lobbying On Behalf of Audit Clients

by Adrienne Gonzalez

This just in: The Securities and Exchange Commission today charged Ernst & Young LLP with violations of auditor independence rules that require firms to maintain their objectivity and impartiality with clients. Ernst & Young agreed to pay more than $4 million to settle the charges. The SEC’s order instituting a settled administrative proceeding finds that […]