Auditing
Canadian Audit Firm Fined $60,000 By the PCAOB for Quality Control Failures
Vancouver-based De Visser Gray was sanctioned for failing to comply with U.S. quality control standards from April 2019 to January 2024.
Jason Bramwell
Jason Bramwell is senior staff writer for CPA Practice Advisor. He has nearly 25 years of professional writing experience, the last nine covering the accounting profession. He most recently was a staff writer and editor at Going Concern, and he previously spent five years as a staff writer and editor at AccountingWEB. He can be reached by email at jbramwell@cpapracticeadvisor.com.
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Auditing
PCAOB Busts Two Audit Firms for Not Complying With Reporting Rules
KKM CPA Associates in New York and the BDO affiliate firm in the United Arab Emirates were fined $25,000 and $20,000, respectively.
IRS
Number of the Day: $5.7 Billion
As of March 31, the IRS has spent $5.7 billion, or 10%, of the $57.8 billion it will receive from the Inflation Reduction Act, TIGTA says.
Accounting
High Schoolers Get a Taste of What It's Like to Work at CLA
Interns this summer look even younger than the usual fresh-faced college students who man the cubicles at the top 10 firm.
Firm Management
Weaver Admits 17 to Partnership
“[They] truly reflect the diversity of experience and geographical reach of our practices and industry groups," CEO John Mackel said.
Firm Management
PAAST Combines With Fellow Florida CPA Firm SKJ&T
SKJ&T now operates under the PAAST banner, and the combined firm will work out of their Coral Gables and Miami offices.
IRS
IRS Releases FAQs on Sec. 127 Educational Assistance Programs
If provided under an educational assistance program, certain educational assistance benefits can be excluded from gross income.
Firm Management
RKL to Merge in Kauffman CPA Co.
The top 60 firm is merging fellow Lancaster, PA-based firm Kauffman CPA Co. into its RKL Virtual Management Solutions subsidiary.
Firm Management
Clark Schaefer Hackett to Add CPA Firm Rolfes & Swisher
The top 70 accounting firm is set to acquire fellow Cincinnati firm Rolfes & Swisher in a deal that will become effective July 1.
Firm Management
Dennis Duncan and Torchon Formed After Accounting Firms Merge
This new CPA firm in California is the result of a union between Torchon and Associates and Dennis Duncan and Covington.
Auditing
PCAOB Adopts New Rules for Auditors on Technology-Aided Analysis
The revised rules provide detail and clarity for auditors when performing procedures using technology-assisted analysis.
Taxes
IRS Plans to Stop Basis Shifting Transactions
Cracking down on this tax loophole used by the wealthy could raise more than $50 billion in revenue over 10 years, Treasury said June 17.