Ex-Big Four Auditor Explains Massive Audit Failures | Cloud Accounting Podcast

[@lsabdc330]

I do agree with Chris most of the things he said here, especially these days most firms have forgotten the fundamental audit tasks they suppose to be carrying out for example in the Wirecard scandal the EY failed to check what was in escrow accounts which were not rocket science (how did they do the bank reconciliation?) and in fact this particular blunder caused Wirecard to collapse later however if they deliberately didn't perform (turning a blind eye to...) then surely it didn't happen for free of charge, right??

[@TheAccountingPodcast]

Apparently, EY didn't do independent bank confirmations. They just relied on what the client provided.

[@jeannedri3709]

HI, I have a question, how do you find your talent and do you carry W2 employees and a bench or are your auditors 1099?

[@christophervanover7366]

Hi Jeanne. We generally have found our people through existing connections and partnerships. Some of our talent has heard about us through media coverage. No matter how they are hired, they have to be deeply committed to our mission and a willingness to work for an alternative CPA firm.

[@mrpoeticnexus]

Great podcast! It's a treat to hear from Chris V! He has a massive amount of knowledge and experience. I miss working with him. #irecommendauditclub

[@christophervanover7366]

John, miss working with you too. Keep smiling like you always do! You know where to find us 😊