Amanda Iacone

Virginia

Accounting Reporter at Bloomberg Tax

Journalist covering the world of audit, accounting and financial reporting for Bloomberg @Tax & Accounting.

Articles

BDO China Falters on Illegal Acts Response in US Audit Review

3 days ago | news.bloombergtax.com | Amanda Iacone

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BDO China Falters on Illegal Acts Response in US Audit Review

3 days ago | news.bloomberglaw.com | Amanda Iacone

BDO’s Chinese affiliate was cited for not evaluating the financial ramifications of potential illegal acts involving a client’s lease agreements, according to the firm’s inaugural US audit inspection. Inspectors with the Public Company Accounting Oversight Board found flaws in two of the firm’s three audits picked for review, according to an inspection report the board released Wednesday.
Baker Tilly Looks to Build National Brand With Moss Adams Merger

3 days ago | news.bloombergtax.com | Amanda Iacone

Baker Tilly Advisory Group LP, now paired with competitor Moss Adams LLP, aims to build its brand into a “national powerhouse” for its middle market clients, leveraging a private equity investment to expand its services and upgrade its technology.
SEC Sets Aside $100 Million in Budget to Take on Audit Oversight

4 days ago | news.bloomberglaw.com | Amanda Iacone

The SEC faces a possible $300 million shortfall in funding should Congress expand the Wall Street regulator’s role to oversee the work of auditors, according to the agency’s budget request. The Wall Street regulator’s spending plan allots about $100 million in initial funding toward auditor oversight, Securities and Exchange Commission Chair Paul Atkins said during a Senate appropriations subcommittee hearing Tuesday.
SEC Sets Aside $100 Million in Budget to Take on Audit Oversight

4 days ago | news.bloombergtax.com | Amanda Iacone

XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
SEC Sets Aside $100 Million in Budget to Take on Audit Oversight

4 days ago | news.bloomberglaw.com | Amanda Iacone

The SEC faces a possible $300 million shortfall in funding should Congress expand the Wall Street regulator’s role to oversee the work of auditors, according to the agency’s budget request. The Wall Street regulator’s spending plan allots about $100 million in initial funding toward auditor oversight, Securities and Exchange Commission Chair Paul Atkins said during a Senate appropriations subcommittee hearing Tuesday.
SEC Cautions Companies on Risks AI Poses to Financial Reporting

4 days ago | news.bloombergtax.com | Amanda Iacone

AI-based financial reporting introduces new risks, and the SEC is monitoring how US companies and their auditors are using the emerging tech.
Embattled Audit Board Pushes for Greater Dialogue with Industry

5 days ago | news.bloombergtax.com | Amanda Iacone

The US audit board, facing a closure threat in Congress, invited auditors Monday to reach out to staff on practice issues ranging from fixing inspection violations to preparing for new firm governance rules to enforcement. “Starting the dialogue early and often is critical,” Kathleen McGovern, chief litigation counsel for the Public Company Accounting Oversight Board’s enforcement division, told auditors and their lawyers at an American Law Institute conference on Monday.
Accounting Fraud, Failed Audits Remain on SEC Enforcement Agenda

5 days ago | news.bloombergtax.com | Amanda Iacone

Accounting fraud and audit failures remain fixtures of the SEC’s enforcement agenda even as the Wall Street regulator shifts its priorities under the Trump administration and grapples with the fallout of a recent Supreme Court decision. The Securities and Exchange Commission continues to focus on gatekeeper accountability, acting Chief Accountant Ryan Wolfe said to auditors and their lawyers at an American Law Institute conference Monday.
BDO Nominates Tax Leader to Succeed US Firm’s Longtime CEO

1 week ago | news.bloombergtax.com | Amanda Iacone

BDO USA P.C. has named a leader from its tax practice, Matthew Becker, to succeed its long-serving CEO Wayne Berson, who is set to retire next year. The firm’s principals are expected to ratify Becker’s nomination in a July vote, BDO said Thursday. Becker, a CPA, oversees the strategy and operations of its tax business as its national managing principal. He has spent more than two decades at BDO and has served as the chair of its board of directors, which selected him for the role of CEO-elect.