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May 28, 2023

When accounting goes unaccounted for

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Friday Footnotes: The ERC Problem; EY Double Dips; Stress Less in Public Accounting | 5.26.23 AICPA Council Approves 12-Point Plan to Do F*ck All to Solve the Accountant Shortage Grant Thornton Layoff Numbers Are In (UPDATE) EY’s Landlord Didn’t Pay the Mortgage on the Downtown LA Office Building PwC Chief Products & Technology Officer Says Not to Worry, They Don’t Want to Replace You With AI

meanwhile in Europe

Audit

U.S. Companies Should Beware of “Ambiguous” Auditor Rotation in Europe

by Adrienne Gonzalez

Damn you, globalization, all this stuff was so much easier when we shopped at mom and pop stores, salted our own pork for the winter and conducted business in wampum while avoiding dysentary and snake bites. But oh well, time must go on… As we know, the PCAOB has back-burnered auditor rotation in the U.S. […]

PwC

Some Europeans Told the European Commission to Fire PwC Over Conflict of Interest

by Adrienne Gonzalez

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 […]