Barbacane, Thornton & Company’s Post

The accounting sector is vital yet losing its charm. CPAs have diverse career options, from auditing to entrepreneurship. Immediate action is needed to reignite interest in this critical profession. To alter accounting career perceptions, unity among firms, businesses, associations, and CPA bodies is imperative. This begins with sharing personal stories that shape career paths, emphasizing the extensive prospects offered by a CPA qualification. Outreach to inspire future talent should start with high school students and persist into university. In a recent, EMEIA Assurance talent campaign, I had a great conversation with Amaan Baig, Elliott Duke, and Sikholiwe Mdletshe. These auditors from our UK and South Africa teams shared how they successfully blend their personal interests with their careers at #EY. Their stories speak of the supportive environment at EY, where individual passions are encouraged alongside professional growth. A relatable, personal narrative will ensure the profession's durability. For more insights, refer to Ginnie Carlier’s article in FEI | Financial Executives International. #AccountingCareers #ShapeTheFutureWithConfidence #Storytelling https://lnkd.in/ewcYN8vF Dilek Cilingir | Caroline Henderson | Kostas Dermitzakis | Jody Tyrpak | Alyson Stokes | Shannon Degnan | Justin Wilson | Janet Randall | Marc Jeschonneck | Michael Verbeck | Dante D'Egidio | Jeanne Boillet | Marie-Laure Delarue | Matt Talbot | Remco Bartman 

https://lnkd.in/etsgDNvZ Check out the article I wrote on what it’s like to be an audit associate where I also give some tips for future accountants!

Day 3 At Grant Thornton! 📊 Session 1 (Audit Panel Discussion) Thursday kicked off with a wonderful panel of 4 auditors working at Grant Thornton. I had the pleasure of meeting Shermeen Kazmi, Fiona Baldwin, Nerys Bint (nee Crosby) and Ant Thomas. I was able to gain further insight into what a successful career in audit involves and key tips to gaining success. A few examples of the tips we received was to do everything possible to find out what you like. It is impossible to know whether or not something is made for you if you do not give it a try! Being an individual who has a liking for variety is extremely beneficial. Qualities that will ensure you stand out and reach success contain curiosity, being inquisitive and communication. A great aptitude for asking questions, sometimes you may feel nosey and in everyone's business but this allows for an individual to utilise the resources available to them. Another fact we learnt was that having strong numerical knowledge is not essential in audit! This addressed another common stereotype regarding accountancy and their undying love for maths 😂 . Lastly, we were given the opportunity to question the panel, one of the questions was “Why GT?” The answers we received were truly fantastic, I was made aware of the great scope of progression at Grant Thornton, the flexibility during working and their unique diversity events. ❓Session 2 (Audit Practical) Forthwith, we had a calculation activity regarding materiality which can be defined as the assurance of an audit that there are no misinformed materials that can significantly impact the usability of their financial statements (balance sheets, income statements and statements of cash flow). 💼 Session 3 (Early Careers At Grant Thornton) I was delighted to be spoken to by Karen Fryer on the subject of available careers and opportunities at Grant Thornton. She educated us on the school leaver programme which would be made available for me and fellow year 12's to apply to from Sept 2025. Karen talked about the skills suited to becoming an apprentice, the main one being adaptable. We discussed 3 important factors; professionalism, feedback and personal brand. The importance of being on time, dressed ready to work and having a good reputation and how it can affect your career. Constant feedback is essential in avoiding the repetition of current mistakes. Constructive criticism being applied in the workplace encourages a growth mindset. Extremely grateful to Emma Darragh, Rushnara Khanom, Gina Darvill and Holly Pearce. #lifeatGT #AccessAccountancy #GTtrainees #CareerGrowth #ProfessionalDevelopment

Continuing our series on ACCA practitioners, Gavin Curr of Martin Aitken & Co Ltd talks about the challenges of the last few years, recruitment, and how there have been more audit opportunities in the past 12 months: "Martin Aitken & Co has been in the Glasgow area since 1897 under various guises and celebrated its 125th anniversary last year. We’re a medium-sized firm that has grown both organically and through acquisitions. We have clients across the length and breadth of the country - from the south coast of England to the remote islands of Scotland – but our crux is the central belt of Scotland. We’re a general practice firm covering all manners of accountancy, audit and tax. The last few years have been quite challenging in terms of the pandemic, staffing, client issues and funding restrictions. With the legacy of the COVID impact, I’d say that our workload only really got back to normal at the start of 2023. Before that, Companies House had offered three-month extensions which clients had taken, meaning we were three months behind where we wanted to be. We still made good use of the period from 2020 through to the start of this year to reset and look at practice efficiencies through new systems and technologies. Recruitment is still very challenging – for audit particularly – but it has improved slightly over the last 12 months. We made a conscious decision not to take on any new audit engagements during the early stages of the pandemic because we were at capacity with the staff we had, but internally the team are now more experienced, and our juniors are becoming seniors. We’ve completed a great deal of work internally around staff retention to ensure we retain our experienced qualified staff members and also attract new team members. There is still a general experience gap between our experienced staff and our juniors because of the two-year experience gap caused by the pandemic, but it’s the same for every firm. Our final year trainees are performing really well so the situation is improving. In the last twelve months. we have been seeing a great deal more audit opportunities – both because smaller practices are pulling out of audit work or reducing their operations, and also because consolidation amongst the larger firms in the market has caused their service levels to drop and their clients are coming to firms our size. There has been a lot of acquisition activity in accountancy firms in the Glasgow area, and prospective clients are telling us they are leaving the larger firms because they want an independent firm to do their accounts and audits. A big challenge at the moment is the changes associated with ISQM 1 for audit purposes. For a firm of our size, there is a lot of regulation and considerations so I can understand why many smaller practices are withdrawing from audit work. There is much more to consider than there ever was before – including internally from an administrative point as well."

Why not have the Big 4 independent accounting firms review/audit the top 4 battleground states? Nevada hires KPMG. Arizona goes to PwC. Georgia engages EY. The most challenging, Pennsylvania, taps the best of the Big 4- Deloitte. While we’re at it, North Carolina signs up BDO. Michigan contracts Grant Thornton. Wisconsin appoints RSM. When I worked at Deloitte, I was on teams that audited the public sector, including The City of New York and Nassau County, so I saw firsthand that there is precedent for private sector reviewing/auditing the public sector. I’m pretty sure that the lead partner on the The City of New York engagement back then was also the lead partner on the review/audit of the government of The United States of America. Big 4 accounting firms already review/audit state lotteries, ya? This could be a great job-creator for accountants and auditors, including the 10% of KPMG's U.S. workforce that was laid off this year. Those who were laid off can be hired by other accounting firms for agreed-upon procedures, reviews, audits, and more in the battlegrounds. Why not?? ❤️ 🤍 💙 🔢 🧮 📜 #independent #assurance #fairness #patriotism #jobcreation

EY the busiest among America's public company audit firms The 10 accounting firms that had the most public company audit clients in 2023 are the same 10 firms atop the table in auditor market share so far in 2024, with EY leading the way as of January 30th. According to Ideagen Audit Analytics, the company audited 971 public companies registered with the SEC. Deloitte followed in second place, with 900 clients, followed by PwC with 719, KPMG with 605, and Marcum LLP with 402. The top 10 was completed by Grant Thornton LLP (US), BDO USA, BF BORGERS, CPA, PC, RSM US LLP and Withum. The Big Four firms dominated the market share of large-accelerated filers, auditing 90% of this market, up 2% from last year. Outside of the Big Four, there were 31 other firms that competed for the remaining 10% of the large-accelerated-filer market, with Grant Thornton holding the largest portion at 4%. Subscribe to Accountancy Slice to get your daily slice of Accountancy intelligence direct to your inbox ➡️ https://lnkd.in/emfepVdu #accountingfirms #accounting #audit #accountancy

This past week Public Company Accounting Oversight Board (PCAOB) had the honor of participating in the National Association of Black Accountants NABA INC. conference. This event, a cornerstone for fostering diversity, inclusion, and professional excellence in the accounting field, provided a vital platform for the PCAOB to engage with current and future leaders of the profession. Key Highlights: #Engagement and Education: PCAOB representatives conducted insightful session on the latest developments in auditing standards, emphasizing the importance of audit quality and integrity in financial reporting. This session was designed to equip attendees with the knowledge and tools necessary to uphold the highest standards in their practices. #Diversity and Inclusion Initiatives: The PCAOB reaffirmed its commitment to promoting diversity within the accounting profession. By participating in NABA, the PCAOB continues to support initiatives that aim to break down barriers and create more opportunities for underrepresented groups. #Networking Opportunities: The conference allowed PCAOB staff to connect with a diverse group of professionals, sharing experiences and best practices. This networking is crucial for fostering a more inclusive and collaborative professional environment. #Career Development: Through various workshops and panel discussions, the PCAOB staff were provided with opportunities to enhance their career development and progression within the field of accounting and auditing. This training is invaluable for PCAOB staff members seeking to advance their careers and make impactful contributions to the industry. The PCAOB’s presence at the NABA Conference underscores its dedication to enhancing audit quality through diverse and inclusive practices. By collaborating with organizations like NABA, the PCAOB continues to work towards a more equitable and high-standard accounting profession. #NABA #DEIB #representationmatters

🏆 Congratulations to our Audit Director Graham Gardner who has been named one of the UK’s top 35 accountants aged under 35 by the prestigious publication Accountancy Age. The 35 under 35 ranking showcases and highlights the industry’s rising talent – those who are making great contributions to both their firms and fields. 🏅 Learn more about Graham and the 35 under 35 rankings 👇 #AccountancyAge #Award #35Under35 #RisingTalent

working in a small firms gives you a better understanding of audit.

Topic: internships About the company: Now let us know about audit firm, it is an independent entity that will provides about audit and give assurance best services to clients. There are primary goals for SVB associates is to provide an independent audit and preparing company’s income tax, finance statement and for individual also and provide GST services to clients and tell complete details and provide satisfaction to the clients. SVB associates plays a crucial role that they give reliability of financial reporting for whoever interested in investing, creditors and regulators bodies. SVB associates is approved by NSDL and we will keep company’s financial reports and records through transactions and internal controls and purchase and sales bills in monthly bases, quarterly and yearly bases. We use various techniques that include testing and verification for ensure there financial statements are prepared fairly and with relevant accounting standards. SVB associates also provide assurance service such as compilation and reviews because to value add to the company to improve more on this sector. In addition to SVB associates services by looking many audit firms our firms has improved to help the clients in there financial management, and having financial plaining, and also for IT consulting. Any of the audit firm begin with the proper plan and need to execute in proper manner to get success. And it also flow by field work which involves the actual examination of financial records and transaction. SVB associates use the various tools and techniques that will include data analytics and artificial intelligence to, to identify the potential risks and the material are weaknesses. After completing of fieldwork SVB associates issue the reports that expresses their opinion on there fairness and accuracy to the financial statements. SVB associates has professional standards and regulations, including those set by a Public Company’s Accounting and Oversight the Board. These will standards ensure that SVB associates maintain their independence, objectivity, and professional scepticism in their company’s work. In the conclusion, SVB associates play a very vital role in ensuring there integrity of financial reporting and promoting there transparency and accountability in the real business world. Their independent and objective of assessments provide to stakeholders with the confidence to make informed to take decisions. As the business landscape keep on continues to evolve, the audit firms and must stay ahead of the curve, embracing new technologies and innovative approaches to meet the changing needs for their clients.