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Senator Elizabeth Warren’s campaign promise to fund social programs by making America’s wealthiest pay a small percentage of their fortune every year could create a costly and difficult compliance system for both the taxpayers and the IRS.September 19
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A rule requiring audit firms to disclose the names of engagement partners who participated in an audit may not be having much of an impact on audit quality.September 18
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The initial batch of audit reports for large accelerated filers describing critical audit matters don’t necessarily provide a whole lot of illuminating information.September 18
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BDO USA LLP reported a record level of revenue in the fiscal year ending June 30, 2019, as the firm re-elected Wayne Berson to his third term as CEO.September 17
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A former KPMG partner was sentenced for his role in eliciting confidential information from the U.S. audit regulator to boost the firm’s annual inspection results.September 12
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Public companies and their audit committees are revealing far more about their auditing firms, audit fees and audit partners this year, according to a new report from Ernst & Young.September 11
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Marcum and Marcum Bernstein & Pinchuk plugged some of their clients at investor conferences in violation of auditor independence requirements.September 11
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The Internal Revenue Service isn’t doing enough to audit corporate mergers and acquisitions and is wasting tens of thousands of days on cases that aren’t likely to generate more tax dollars.September 11
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Pilot tests at public companies suggest the new reporting requirements may take more time than expected.September 10
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The document can help auditors with the allowance for credit losses under the new standard for measuring credit losses on financial statements.September 9
