The Accounting Podcast

SPAC Attack: Why Withum Got Slapped with a $2M PCAOB Fine

Mar 8, 2024
Guest
Chris Vanover
Discussing Withum's $2M fine for poor audit quality on SPAC audits, the podcast explores workload issues with overworked teams and partners clocking 100+ hour weeks. Delving into resource management challenges, the episode debates whether fines are enough to bring about change or just seen as a cost of business.
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Episode notes
1
Introduction
00:00 • 2min
2
Analysis of Significant Increase in Issuer Audits and Overloading of Partners
01:43 • 2min
3
Discussion on Extreme Working Hours, Team Pressure, and Partner Responsibility in Auditing
03:41 • 2min
4
Challenges in Resource Management and Talent Attraction in Auditing Firms
05:46 • 2min
5
Challenges of Excessive Workloads in Accounting
07:26 • 8min