Accounting
Marcum Fined $10M by SEC and $3M by PCAOB for Shoddy Quality Controls in SPAC Audits
The top 20 firm also must make functional changes to its supervisory structure related to its system of quality control.
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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Taxes
'What a Difference a Year Makes!': IRS Has Made a Huge Dent in Tax Return Backlog
In her midyear report to Congress, National Taxpayer Advocate Erin Collins shared several IRS improvements this filing season.
Accounting
EY Tops Rival Audit Firms in Public Company Clients
The Big Four firm audited 1,004 of the 6,950 public companies registered with the SEC in 2023, the most of any audit firm.
Taxes
TIGTA: IRS Gave Out More Than $10 Billion in Excess Child Tax Credits in 2021
The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, TIGTA said.
Taxes
IRS, Treasury Issue Proposed Guidance on Monetization Options for Energy Tax Credits
The proposed rules released on June 14 focus on elective pay and transferability of credits under the Inflation Reduction Act.
Taxes
IRS Clarifies Elective Payment Rules for Semiconductor Chips Tax Credit
The CHIPS Act allows eligible taxpayers to make an election to treat the credit as a payment against federal income tax.
Firm Management
UHY Branches Out in Michigan Via Merger
The deal, which went into effect June 12, gives UHY 40 additional team members and two Michigan offices from Baird, Cotter & Bishop.
Taxes
Corporations Get a Reprieve From the IRS on New CAMT
The IRS waived penalties for corporations that didn't pay their estimated tax liability under the corporate alternative minimum tax.
Firm Management
SD Mayer Adds HR Advisory Firm WOVEN
WOVEN, which will remain an independent entity under the SD Mayer umbrella, provides HR strategy and operations to SMBs.
Auditing
PCAOB Turns Up the Heat on Auditors to Find Fraud
The PCAOB wants auditors to get tougher detecting noncompliance with laws and regulations, including fraud, in public company audits.
Firm Management
Citrin Cooperman Reels in California Firm FMT Consultants
FMT will bring more than $29 million in revenue and more than 80 individuals to Citrin Cooperman’s West Coast operations.
Firm Management
Armanino Picks Up Los Angeles CPA Firm Bemel, Ross & Avedon
BRA provides business management services to a bevy of entertainers and executives in the film and music industry.