One of the keys to being a successful partner in a large accounting firm is client management. If you’re a tax or advisory partner, this is pretty simple: you wine, you dine, you do the work with a smile on your face. The client is happy.
Probably a good call.
Here's a doozy.
Well, this is something? Switzerland's Federal Audit Oversight Authority ("FAOA") will be kicking the tires on KPMG's audit of corruption factory/sports organization FIFA.
Unless you're dead on the inside, you've been infatuated with someone at work. Maybe it's someone on your team, maybe it's a client, maybe it's your boss.
Independence: its complicated. Except it isn't, really. Audits firms are conflicted because they're paid by the organizations who they're supposed to be independent of audit clients. Most people, I think, know this yet choose to ignore it. Fine.
After nearly seven years since the first concept release, the SEC approved the PCAOB's rules for disclosing the names of audit engagement partners and other participating firms.
Are you an auditor? Do you have any public company clients? Have you recently been notified that the PCAOB will be inspecing the audit of one of those public company clients?
In 2016, government auditors in Washington state discovered $420,300 in unemployment benefits paid out to prisoners. Prisoners, by the way, are ineligible for unemployment benefits.