Audits Under Fire: Ex-Big Four Partner Responds to Criticisms
Join us for an in-depth conversation with Jerry Maginnis, a retired Big Four audit partner, about the value and criticisms of financial statement audits.
Jerry draws on his decades of experience auditing public companies to respond to issues around audit quality, staff work conditions, complexity in accounting standards, and whether audits truly protect investors. He provides perspective on PCAOB inspections, the pass/fail system, and deficient audits.
Blake and David ask tough questions about audit fees increasing while staff salaries stagnate, whether accounting and auditing standards should be simplified, and whether audits provide usefulness to average investors.
Jerry argues audits still provide an invaluable service in capital markets despite imperfections but also sees opportunities for improvement through leveraging technology. He gives advice on maintaining a value-creation mindset and shares his motivation behind writing a book for young accountants.
Meet Our Guest:
Jerry Maginnis
LinkedIn: https://www.linkedin.com/in/jerry-maginnis-18a47813/
Read Jerry's book, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities: https://a.co/d/6SWvDwm
Need CPE?
Jerry draws on his decades of experience auditing public companies to respond to issues around audit quality, staff work conditions, complexity in accounting standards, and whether audits truly protect investors. He provides perspective on PCAOB inspections, the pass/fail system, and deficient audits.
Blake and David ask tough questions about audit fees increasing while staff salaries stagnate, whether accounting and auditing standards should be simplified, and whether audits provide usefulness to average investors.
Jerry argues audits still provide an invaluable service in capital markets despite imperfections but also sees opportunities for improvement through leveraging technology. He gives advice on maintaining a value-creation mindset and shares his motivation behind writing a book for young accountants.
Meet Our Guest:
Jerry Maginnis
LinkedIn: https://www.linkedin.com/in/jerry-maginnis-18a47813/
Read Jerry's book, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities: https://a.co/d/6SWvDwm
Need CPE?
Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com
Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe
Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe
Get in Touch
Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040
Need Accounting Conference Info?
Need Accounting Conference Info?
Limited edition shirts, stickers, and other necessities
Subscribe
- Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
- Podchaser: http://cloudacctpod.link/podchaser
- Spotify: http://cloudacctpod.link/Spotify
- Stitcher: http://cloudacctpod.link/Stitcher
- Overcast: http://cloudacctpod.link/Overcast
- YouTube: https://www.youtube.com/c/CloudAccountingPodcast
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? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.
Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd
The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
