Auditing

Marcum audit partner Alfonse Gregory Giugliano was slapped with a $75,000 fine for failing to fix problems in the firm's QC system.

Technologists Randy Johnston and Brian Tankersley, CPA, discuss Audit Sight, a technology platform that eliminates manual work for auditors, diligence and private equity providers by automating financial transaction verification.

Organizations need to focus on areas including data governance, change management and upskilling when pursuing these new technologies.

The agency is opening examinations of 75 of the largest partnerships in the U.S. that on average have over $10 billion in assets.

The Innovation Awards are presented to honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow and efficiencies, increased accessibility, enhanced collaboration, greater accuracy, or other means.

The top 50 firm was fined $200,000 for auditor independence violations related to its membership in an accounting alliance.

When properly managed and prioritized, financial, operational and legal data has the potential to contribute significant strategic value to a business that extends far beyond meeting compliance requirements.

The report found that two-thirds of organizations have not implemented ESG controls, and that 60% do not currently perform internal ESG audits.