Latest / The Accounting Podcast
SPAC Attack: Why Withum Got Slapped with a $2M PCAOB Fine
Blake and David meet with Chris Vanover, President of CPAClub, about the recent $2 million PCAOB fine against Withum for poor audit quality on many 2021 SPAC audits. They examine Withum's 500% increase in audits with minimal staff growth, leading to overworked teams and partners working 100+ hour weeks. They also debate whether the fines are large enough to change behavior or just a cost of doing business.
Meet Our Guest, Chris Vanover
LinkedIn: https://www.linkedin.com/in/chrisvcpa/
Learn more about CPAClub
Website: https://cpaclub.cpa/
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The skinny
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