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Category: NYT Accounting News
PCAOB fines Israeli audit firm $200K
The Public Company Accounting Oversight Board sanctioned an Israeli auditor and her firm for violating the PCAOB’s rules in several audits, imposing a $200,000 penalty.
In the blogs: Fiscal realities
Next stop, more billions; misaimed mansion tax; auditing’s future; and other highlights from our favorite tax bloggers.
IRS needs to plan better for modernization funding
The Internal Revenue Service hasn’t fully updated its plans to use the tens of billions of dollars in additional funds provided by the Inflation Reduction Act, according to a new report.
Navigating tax season amid the accounting attrition crisis
with tax season in full swing, accountants need to have a game plan to mitigate the potential impacts the shortage may cause.
Evergrande’s alleged $78B fraud is among biggest ever
The Chinese real estate company’s revenue overstatement dwarfs that of Luckin Coffee Inc. and Enron Corp., dealing a blow to the reputation of its former auditor PricewaterhouseCoopers and the country’s financial oversight.
Why the profession needs to say no to NOCLAR
PICPA believes the PCAOB’s Non-Compliance with Laws and Regulations proposal is disconnected from the realities of the auditing profession and will impose undue strain on an already thinly stretched workforce of CPAs.
Court stays SEC climate rule
A federal court has temporarily halted the Securities and Exchange Commission’s climate-related disclosure rule in response to a lawsuit from a pair of fracking companies.
HOA fees are pricey and prevalent — but tax planning can help some clients
Financial advisors and tax experts say HOA fees are usually not deductible, unless the home is used for a business or as a rental property.
Deloitte revamps structure to cut costs
Big Four firm Deloitte is looking to overhaul its structure to cut costs ahead of a market slowdown, according to the Financial Times.