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Content provided by Earmark Media LLC, Blake Oliver, and David Leary. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Earmark Media LLC, Blake Oliver, and David Leary or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
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Why EY Has The Worst Big Four PCAOB Deficiency Rate
Manage episode 438437642 series 2453785
Content provided by Earmark Media LLC, Blake Oliver, and David Leary. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Earmark Media LLC, Blake Oliver, and David Leary or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In our 400th episode, Blake and David dive into the controversial world of audit quality and Big Four accounting firms. They also discuss a listener's critical email about their audit coverage, explore recent audit failures and deficiencies, and debate the underlying incentives in the audit industry. The discussion turns to workplace culture issues at major firms and potential solutions to improve audit quality.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Zoho - http://accountingpodcast.promo/zoho
Makers Hub - http://accountingpodcast.promo/makershub
Chapters
- (01:05) - Listener Email: Criticism of Audit Discussions
- (01:59) - Reading and Responding to Connor's Email
- (05:19) - Understanding Audit Deficiencies
- (07:46) - Audit Quality and Deficiency Rates
- (13:26) - EY's Audit Deficiency and Industry Comparison
- (15:28) - The Business Model of Big Four Firms
- (19:13) - Challenges in the Audit Profession
- (19:39) - Listener Feedback and Commentary
- (35:33) - Super Micro Accounting Scandal
- (43:53) - AI's Impact on Auditing
- (44:11) - The Tipping Point: Media Coverage and Reactions
- (44:40) - Audit Issues and Historical Context
- (46:10) - The Role of Consulting in Audit Firms
- (48:04) - Materiality and Audit Quality
- (51:32) - The Future of Auditing and AI
- (53:16) - EY's Secret Drinking Club Controversy
- (01:15:35) - Addressing the CPA Crisis
- (01:19:10) - Listener Mail and Final Thoughts
Show Notes
PCAOB Posts 2023 Annual Inspection Reports Alongside Staff Observations and New Charts To Boost Transparency
Super Micro: Fresh Evidence Of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer
https://hindenburgresearch.com/smci/
AI Spotted Super Micro Risks Two Years Before Filing Fiasco
EY's PR nightmare: A ‘secret drinking club’, misconduct allegations and resignations
Super Micro shares fall 19% on filing delay, Hindenburg Research report
Who Wants to See How Much Big 4 Revenue by Service Line Has Changed Since SOX?
PCAOB releases two new, divergent inspection reports for Canadian accounting firms
https://www.canadian-accountant.com/content/practice/pcaob-inspection-reports-deloitte-kreston-gta
Rethinking Rankings: The Top 100 Firms — Adjusted
https://www.vision.cpa/blog/Rethinking%20Rankings:%20Revenue%20Per%20Employee
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Client Hub - https://clienthub.app/
Forwardly - https://www.forwardly.com/
Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
504 episodes
Share
Manage episode 438437642 series 2453785
Content provided by Earmark Media LLC, Blake Oliver, and David Leary. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Earmark Media LLC, Blake Oliver, and David Leary or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In our 400th episode, Blake and David dive into the controversial world of audit quality and Big Four accounting firms. They also discuss a listener's critical email about their audit coverage, explore recent audit failures and deficiencies, and debate the underlying incentives in the audit industry. The discussion turns to workplace culture issues at major firms and potential solutions to improve audit quality.
Sponsors
OnPay - http://accountingpodcast.promo/onpay
Zoho - http://accountingpodcast.promo/zoho
Makers Hub - http://accountingpodcast.promo/makershub
Chapters
- (01:05) - Listener Email: Criticism of Audit Discussions
- (01:59) - Reading and Responding to Connor's Email
- (05:19) - Understanding Audit Deficiencies
- (07:46) - Audit Quality and Deficiency Rates
- (13:26) - EY's Audit Deficiency and Industry Comparison
- (15:28) - The Business Model of Big Four Firms
- (19:13) - Challenges in the Audit Profession
- (19:39) - Listener Feedback and Commentary
- (35:33) - Super Micro Accounting Scandal
- (43:53) - AI's Impact on Auditing
- (44:11) - The Tipping Point: Media Coverage and Reactions
- (44:40) - Audit Issues and Historical Context
- (46:10) - The Role of Consulting in Audit Firms
- (48:04) - Materiality and Audit Quality
- (51:32) - The Future of Auditing and AI
- (53:16) - EY's Secret Drinking Club Controversy
- (01:15:35) - Addressing the CPA Crisis
- (01:19:10) - Listener Mail and Final Thoughts
Show Notes
PCAOB Posts 2023 Annual Inspection Reports Alongside Staff Observations and New Charts To Boost Transparency
Super Micro: Fresh Evidence Of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer
https://hindenburgresearch.com/smci/
AI Spotted Super Micro Risks Two Years Before Filing Fiasco
EY's PR nightmare: A ‘secret drinking club’, misconduct allegations and resignations
Super Micro shares fall 19% on filing delay, Hindenburg Research report
Who Wants to See How Much Big 4 Revenue by Service Line Has Changed Since SOX?
PCAOB releases two new, divergent inspection reports for Canadian accounting firms
https://www.canadian-accountant.com/content/practice/pcaob-inspection-reports-deloitte-kreston-gta
Rethinking Rankings: The Top 100 Firms — Adjusted
https://www.vision.cpa/blog/Rethinking%20Rankings:%20Revenue%20Per%20Employee
Need CPE?
Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com
Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
Sponsorships
Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
Need Accounting Conference Info?
Check out our new website - accountingconferences.com
Limited edition shirts, stickers, and other necessities
TeePublic Store: http://cloudacctpod.link/merch
Subscribe
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- YouTube: https://www.youtube.com/@TheAccountingPodcast
- Spotify: http://cloudacctpod.link/Spotify
- Podchaser: http://cloudacctpod.link/podchaser
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
Classifieds
Client Hub - https://clienthub.app/
Forwardly - https://www.forwardly.com/
Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
Transcripts
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
504 episodes
All episodes
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The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join Tom Keene and Paul Sweeney for the best conversations from Bloomberg Surveillance Radio. Watch Surveillance TV LIVE each mornings: http://bit.ly/3P7nstQ. Watch Surveillance Radio LIVE weekday mornings: http://bit.ly/3vTiACF.
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continue reading
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continue reading
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continue reading
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