{"id":1000897690,"date":"2024-11-15T17:00:00","date_gmt":"2024-11-15T22:00:00","guid":{"rendered":"https:\/\/www.goingconcern.com\/?p=1000897690"},"modified":"2024-11-15T17:01:24","modified_gmt":"2024-11-15T22:01:24","slug":"friday-footnotes-oh-good-another-talent-taskforce-a-little-firm-goes-big-deloitte-being-shady-11-15-24","status":"publish","type":"post","link":"https:\/\/www.goingconcern.com\/friday-footnotes-oh-good-another-talent-taskforce-a-little-firm-goes-big-deloitte-being-shady-11-15-24\/","title":{"rendered":"Friday Footnotes: Oh Good, Another Talent Taskforce; A Little Firm Goes Big; Deloitte Being Shady!? | 11.15.24"},"content":{"rendered":"\nFootnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter<\/a> to get the week’s top stories in your inbox every Tuesday and Friday.<\/em>

Comments are closed on Friday Footnotes<\/a> and the Monday Morning Accounting News Brief<\/a> by default. If you have something to say about any stories linked here you are welcome to email the editor<\/a>, text us<\/a> at 202-505-8885, or hit us up on Twitter @going_concern<\/a>. See ya.<\/em>\n\n\n\n

Long Reads<\/h2>\n\n\n\n

Deloitte held close ties to a now-sanctioned Cyprus firm accused of shielding oligarchs\u2019 wealth, records reveal<\/strong> [International Consortium of Investigative Journalists<\/a>]
In March 2023, amid a wartime clampdown on secretive Russian financial networks around the world, the accounting giant Deloitte publicly denied having any recent affiliation with an obscure financial firm in the Mediterranean republic of Cyprus. The firm, MeritServus, was on the verge of being sanctioned by British authorities for helping hide assets tied to a key billionaire close to Russian President Vladimir Putin. \u201cSince 2005, MeritServus has not been part of, or affiliated with, Deloitte Cyprus or any other Deloitte firm,\u201d the accounting firm told The Guardian. Deloitte had good reason to make the statement: MeritServus had started as a division of Deloitte in Cyprus and was now coming under intense scrutiny from media and regulators. But Deloitte\u2019s statement masked more than a decade of the two firms\u2019 official business relationship, according to corporate filings in Cyprus and leaked email exchanges.<\/p>\n\n\n\n

What we now know about large accounting firms, and what we don\u2019t<\/strong> [The Mandarin<\/a>]
The accounting profession is currently the focus of lawmakers trying to work out how best to legislate to improve professionals\u2019 behaviour and minimise harm to the community following PwC Australia\u2019s much-publicised breach of confidentiality almost a decade ago. The PwC tax leaks saga that blew up in January 2023 has seen a revisitation of old debates about the accounting profession, management of conflicts of interest, government consultation with experts, breaking up or refashioning business structures, and defining what firms can do for audit clients. What anyone without a sense of history needs to appreciate is that the world\u2019s toughest regulators have tried to tackle these issues for years. There are no easy solutions.<\/p>\n\n\n\n

Audit<\/h2>\n\n\n\n

Is Anyone Crazy Enough to Audit Super Micro Computer?<\/strong> [Wall Street Journal<\/a>]
Super Micro Computer\u2019s stock has been in a tailspin since Ernst & Young dumped the company as an audit client about a year after it replaced Deloitte & Touche. If EY found something that Deloitte missed then the situation could get even trickier for the server maker that once seemed unstoppable. There are enough red flags that Deloitte should be trying to find out what happened.<\/p>\n\n\n\n

The Profession<\/h2>\n\n\n\n

The problems PE solves<\/strong> [Accounting Today<\/a>]
Accounting Today is just full on jerking off private equity now. This will age like milk:<\/em>
<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Firm Watch<\/h2>\n\n\n\n

Cover & Rossiter \u2018goes big\u2019 with Bonadio merger<\/strong> [Delaware Business Times<\/a>]
Cover & Rossiter offers audit, tax and trust services as well as financial planning to clients as well as accounting services to small to medium businesses. Holliday said that joining Bonadio Group is a natural progression for the firm to evolve as accounting firms faced headwinds during the COVID-19 pandemic. When Paycheck Protection Program (PPP) loans and Emergency Injury Disaster loans (EDIL) were issued to thousands of businesses in the state, Cover & Rossiter had to quickly rise to meet the needs to ensure the paperwork was on point. \u201cWhen the pandemic hit, the pressure was really on and we had to rapidly pivot to deal with those programs and, as a smaller firm, we didn\u2019t necessarily have the bandwidth,\u201d MD Marie Holliday told the Delaware Business Times. \u201cI also feel there\u2019s a shortage in accountants, as we compete against banks and trust companies, so it got harder over time to keep talent. With artificial intelligence coming in, it became clear we couldn\u2019t handle this on our own. So we thought, \u2018We have to go big or go home.'”<\/p>\n\n\n\n

Aprio Expands to Southern California with Addition of Kirsch Kohn & Bridge<\/strong> [PR Newswire<\/a>]
Aprio announces its expansion to Southern California with the combination with Kirsch Kohn & Bridge (KKB), located in Woodland Hills, Calif. Effective November 1, 2024, KKB joined Aprio, adding five partners and more than 30 professionals.<\/p>\n\n\n\n

Accounting firm KSM announces move to new nearby office<\/strong> [IBJ<\/a>]
Katz Sapper & Miller\u2014the largest accounting firm in Indianapolis\u2014plans to relocate to a new office in mid-2026 in a move that KSM says represents its embrace of post-pandemic work habits. \u201cI think there\u2019s a benefit to being in the office, and the purpose of the design is to enhance the office experience,\u201d CEO Tim Cook said. \u201cWe\u2019re trying to create space that reflects how we work today, versus maybe how we did five or 10 years ago.\u201d<\/p>\n\n\n\n

Talent<\/h2>\n\n\n\n

Attention accounting employers: If you need talent, you need to check out Accountingfly’s top remote accounting candidates<\/a> of the week. If you don’t like any of these, sign up for Always-On Recruiting to get a fresh batch in your inbox every week. It’s FREE!<\/em><\/p>\n\n\n\n

\n
Top Remote Accountants of the Week | November 14, 2024<\/a><\/blockquote>