Johnson Global is proud to sponsor My Sister's Place (MSP) 45th Anniversary Celebration on May 15, 2024 in Washington, D.C. MSP has been providing services to the D . C . community to empower survivors of domestic violence and their children, while fostering leadership and education to build a supportive community. MSP's experienced team provides training, case consultation, and advocacy to engage communities to prevent violence and abuse. Click here for more details.

Johnson Global Advisory (“JGA”) is pleased to sponsor the American Law Institute Continuing Legal Education’s two-day event live in Washington, D.C. and virtually online on May 16th and 17th. Join us and gain insights and perspectives on wide range of hot-button issues. The 2024 conference promises to be better than ever. Hear the latest, engage with colleagues, and stay current in your field. This year’s program is still being finalized but planned topics include: Accounting litigation trends New and proposed accounting standards Artificial intelligence in the accounting profession Quality controls and other emerging regulatory issues ESG/climate accounting Strategic considerations in regulatory investigations Beyond the Big Four SEC perspectives PCAOB inspection program Register today at use the code " JOHNSON " to save $250. Click here to register. About Johnson Global Johnson Global partners with leadership of public accounting firms, driving change to achieve the highest level of audit quality. Led by former PCAOB and SEC staff, JGA professionals are passionate and practical in their support to firms in their audit quality journey. We accelerate the opportunities to improve quality through policies, practices, and controls throughout the firm. This innovative approach harnesses technology to transform audit quality. Our team is designed to maintain a close pulse on regulatory environments around the world and incorporates solutions which navigates those standards. JGA is committed to helping the profession in amplifying quality worldwide.

Replay this informative program hosted by JGA’s Managing Director and Litigation and Investigations Practice Leader, Matthew Rogers. With more than 25 PCAOB enforcement actions relating to failures to timely filing of a Form AP, the cost of non-compliance can be high. Hear insights that will enable practitioners to better understand the Form AP requirements through lessons learned from PCAOB enforcement actions. Also, explore topics that will help foster discussion about practical solutions for enhancing firm quality controls to minimize the risk of compliance failure. To watch the replay or for additional details about this program please visit this link . Learning Objectives: Understand Rule 3211 and the Form AP Filing Requirements Discover what can go wrong and what are the penalties from past PCAOB Enforcement actions related to Rule 3211 and Form AP Apply best practices to reasonably ensure compliance with Rule 3211 and Form AP After registering you will receive a confirmation email containing information about watching the webcast. About Johnson Global Johnson Global partners with leadership of public accounting firms, driving change to achieve the highest level of audit quality. Led by former PCAOB and SEC staff, JGA professionals are passionate and practical in their support to firms in their audit quality journey. We accelerate the opportunities to improve quality through policies, practices, and controls throughout the firm. This innovative approach harnesses technology to transform audit quality. Our team is designed to maintain a close pulse on regulatory environments around the world and incorporates solutions which navigates those standards. JGA is committed to helping the profession in amplifying quality worldwide.

Johnson Global is pleased to announce that Joe Lynch, JGA Managing Director will speak at the AICPA® & CIMA® ENGAGE 24 Conference on June 3–6, 2024, at the ARIA Resort & Casino in Las Vegas, NV and live online. This CPE-eligible event is one of the largest annual gatherings of standards setters, regulators, and accounting professionals to discuss the year’s biggest accounting, auditing, and regulatory developments. Joe will speak during the following sessions: NAA2404. Quality Management for Sole Practitioners and Small Firms NAA24101. Quality Management: Path to Implementation Register today and use the code ENG24 to save $150 at checkout*. *This offer can only be combined with section and credential discounts. It cannot be combined with any other discounts or incentives, not valid on previous purchases. Not valid on group discounts. About Johnson Global Johnson Global partners with leadership of public accounting firms, driving change to achieve the highest level of audit quality. Led by former PCAOB and SEC staff, JGA professionals are passionate and practical in their support to firms in their audit quality journey. We accelerate the opportunities to improve quality through policies, practices, and controls throughout the firm. This innovative approach harnesses technology to transform audit quality. Our team is designed to maintain a close pulse on regulatory environments around the world and incorporates solutions which navigates those standards. JGA is committed to helping the profession in amplifying quality worldwide.

Washington, D.C. : Johnson Global Accountancy (“JGA”) is excited to announce our plans to open a new office in the District of Columbia region this year. The new location is slated to be in beautiful downtown D.C., two blocks northwest of the White House. This planned expansion comes at a time when JGA is growing rapidly. With pressure from increased audit regulation and market dynamics, public accounting firms are seeking advice on audit quality issues. “Our new location will provide us with a new home to further engage with stakeholders worldwide, who are committed to audit quality and investor protection,” says Santina Rocca, JGA Managing Director. “I am thrilled to continue planning of a gathering place for our growing DC-based team of directors and managing directors to work together to advise audit firms on actions to transform their practices to meet audit quality initiatives. We look forward to engaging with our clients and stakeholders in the nation’s Capital!” JGA has continued to serve clients and is passionate and practical in supporting firms through their audit quality journey. “Having a place to call home in D.C. allows JGA to further its mission to be the most innovative and technically excellent advisory firm at the intersection of companies, auditors, and regulators, that improves investor decision-making confidence. I look forward to welcoming our JGA staff, clients, colleagues, and other key stakeholders in the audit quality ecosystem to our new office,” says Jackson Johnson, JGA President. About Johnson Global Accountancy Johnson Global partners with leadership of public accounting firms, driving change to achieve the highest level of audit quality. Led by former PCAOB and SEC staff, JGA professionals are passionate and practical in their support to firms in their audit quality journey. We accelerate the opportunities to improve quality through policies, practices, and controls throughout the firm. This innovative approach harnesses technology to transform audit quality. Our team is designed to maintain a close pulse on regulatory environments around the world and incorporates solutions which navigate those standards. JGA is committed to helping the profession in amplifying quality worldwide.

Johnson Global Accountancy (JGA) is pleased to announce Shanett Edwards-Morton, MBA, MST, has joined as a Director of the Firm’s Quality Management audit consulting services. In this role Shanett will join JGA’s team of audit quality experts to deliver best-in-class audit advisory services to audit firms worldwide. Globally, firms are experiencing a pivotal moment in the audit industry, as they implement systems of quality management for newly established quality management standards. In this role, Shanett will work alongside JGA’s client service team to design, implement, and monitor quality management system solutions for mid-market firms worldwide. She possesses more than 19 years of audit, audit regulation and audit quality experience, focusing on systems of quality management. She previously served as an inspector in the Division of Registration and Inspections at the Public Company Accounting Oversight Board (“PCAOB”), inspecting systems of quality control of registered accounting firms in many jurisdictions. Most recently Shanett led initiatives that resulted in the redesign of a global national accounting firm’s System of Quality Management (SQM). “I’m so pleased that Shanett chose to join the JGA team of expert advisors, to reach more firms in the effort to improve audit quality,” stated Jackson Johnson, JGA President. "Shanett’s experience at two global accounting firms makes her well-positioned to share her knowledge with firms currently grappling with the improvements necessary to implement ISQM 1, SQMS 1, QC 1000, and other international QM requirements. Her contributions are a critical aspect of JGA’s commitment to providing the highest quality services to mid-market firms facing the challenges of SQM implementation.” Her previous experience also included designing and implementing a risk-based monitoring approach within the SQM framework for a Big Four firm, leading a group of critical audit matters CAM subject matter experts, along with coaching engagement teams on audit methodology concepts, and supporting the firm inspection process. “I am really thrilled to be part of the JGA family and for the opportunity to work with such a talented group of individuals,” said Shanett Edwards-Morton, JGA Director. “I embrace the mission of JGA, which is to utilize innovative tools and resources in order to assist accounting firms in their journey in achieving a best-in-class status in audit quality.” The addition of Shanett increases JGA’s professional services team to include fourteen former PCAOB staff, with a cumulative 139 years of service at the PCAOB and SEC, and more than 141 years of experience auditing public companies. Shanett holds a Master of Science in Taxation and Master of Business Administration with an emphasis in Finance & Personal Financial Planning from the University of Miami as well as a Bachelor of Science, Double Major in Finance & Marketing from Florida State University. She currently resides in the Washington, D.C. metropolitan area. To learn more about Shanett and the full JGA team, read here . About Johnson Global Accountancy Johnson Global partners with leadership of public accounting firms, driving change to achieve the highest level of audit quality. Led by former PCAOB and SEC staff, JGA professionals are passionate and practical in their support to firms in their audit quality journey. We accelerate the opportunities to improve quality through policies, practices, and controls throughout the firm. This innovative approach harnesses technology to transform audit quality. Our team is designed to maintain a close pulse on regulatory environments around the world and incorporates solutions which navigate those standards. JGA is committed to helping the profession in amplifying quality worldwide.

The 2023 AICPA & CIMA Conference on current SEC and PCAOB developments recently wrapped-up, and consistent with the theme of “Clarity”, there were great insights from the key accounting and auditing regulatory stakeholders including the SEC, the PCAOB, and the FASB. Enforcement, Audit Quality, Standard Setting Agenda and Firm Culture, in addition to Artificial Intelligence (“AI”), Environmental, Social & Governance (“ESG”) as well as Talent pipeline and retention were relevant topics frequently discussed during the three-day conference. What are the top agenda items for the regulators? For FY 2024, practitioners should expect a ramp-up of enforcement activities from the PCAOB and SEC as both entities continue to maintain a strategic focus in this space. Representatives from both regulators mentioned the increased enforcement actions and penalties assessed through orders. The Board stressed that the deficiency rate on inspection is trending in the wrong direction and noted that the PCAOB is expanding the criteria used to identify cases and the areas evaluated. The Board also indicated that auditors only find about 4% of frauds and that this is not consistent with the expectations of investors. Two emerging enforcement actions for the year included the answer sharing by Firm professionals and continued independence violations. The Board further indicated additional priorities in addition to expanded enforcement efforts related to expediting the issuance of inspection reports, new standard on noncompliance with laws and regulations, or NOCLAR proposed, and pressing ahead with enhancing and updating most of the interim PCAOB standards going back to the inception of the Board. The pipeline is busy, and practitioners should be prepared and diligent with these sweeping changes. Stakeholders were encouraged to participate in both the PCAOB and SEC’s standard setting by offering input through comment letters to proposed standards. Focus areas for the inspection program of the Board include a continued focus on fraud procedures, audit of digital assets, financial services audit, risk assessments and auditor independence. Given the increased deficiency rate the PCAOB inspection program will also launch the US Global Network Firm Culture Review Initiative in 2024. Practitioners and Firms are encouraged to take advantage of the Boards remediation process that incentivizes firms to figure out where they went wrong and provides a collaborative feedback loop through a root cause analysis to get it right. Firms need to be very proactive and start early with their remediation efforts during the one-year grace period to improve audit quality. The SEC continues to focus on the classification of the statement of cash flows and encouraged auditors to attribute the same level of scrutiny of the statement of cash flow as they do other statements in the financials. The SEC also advised on the limits of the use of other auditors and cautioned auditors to understand the work of the other auditor, clearly communicate the work request to the other auditor and evaluate whether the auditor can still be the principle. The SEC indicated that firms should consider the limits use of other auditors and consider whether the firm is really in the position to be the principal auditors, especially when the other auditor is performing significant parts of the audit. The principal auditor should understand the quality of the work of the other auditor and engage the other sufficiently and ensure clear communication. Additionally, the SEC indicated that the filing of the Form AP is not a perfunctory exercise and is used to inform investors. Other relevant topics to keep in mind: AI continues to play a pivotal role within the profession and its impact on the accounting function and audits cannot be minimized going forward. While AI is not widely popular in audits just yet, it is important that practitioners keep their fingers on the pulse as the technology develops. The SEC is currently working on a ruling on AI and it is expected to be a game-changer for the profession. Auditors should consider how AI is impacting operations at the client but also consider data sensitivity and the need for continuous professional skepticism when the auditor leverages AI during the audit. Additionally, new cybersecurity disclosure rules will impact registrants, audit committees and auditors alike. While the SEC Rule for ESG Disclosure is still outstanding, it was noted that approximately 99% of S&P 500 companies are now including some ESG disclosures in their filings. It is important for practitioners to take a proactive approach through training and continued enhancement to ESG-related considerations not to be taken off guard once the final rule is enacted. Multinational companies should also consider ESG regulations in foreign jurisdictions. The current interest rate environment, inflation rate, supply chain issues and the overall geopolitical landscape also create additional stresses for the profession in many ways. These factors should be evaluated and adequately disclosed in financial statements to ensure investors can make well-informed decisions. Firms and other stakeholders continue to grapple with the challenges of the current pipeline of new accountants and difficulty recruiting and retaining talent. Burnout rates for professionals continue to rise, further exacerbating the talent pool issue. Several joint efforts from stakeholders including the AICPA to help alleviate the talent concerns but the efforts will require some time to produce the desired results. Attendees were advised that the messaging is critical around the role of the accounting profession, including encouraging greater stakeholder engagement and engaging students earlier in school as well as improving the compensation for younger staff and entrants into the profession. Johnson Global is here to help support Firms and audit partners to enhance the quality of audits and the overall quality management framework. JGA helps mid-market firms manage and stay abreast of changes and ever-increasing expectations from all stakeholders in the financial reporting ecosystem. We are ready to help however we can. Additional Resources Navigating PCAOB Inspections, 2nd Edition, JGA’s Comprehensive Guide QM Standards: JGA’s Approach and Implementation Timeline Independent Monitoring and Consulting Services About Johnson Global JGA is dedicated to helping public accounting firms around the globe achieve the highest level of audit quality. All CPAs and former PCAOB inspection staff, JGA professionals are passionate and practical about working alongside firm leadership to ensure the right controls, policies, and practices are implemented throughout the organization. Visit www.jgacpa.com to learn more about Johnson Global.

Johnson Global Accountancy (“JGA”) is pleased to announce Santina Rocca, Managing Director will speak on a panel at the 39th Midyear SEC Reporting & FASB Forum. This panel will summarize the activities of the PCAOB including: Understand the Proposed New Standard Related to Aspects of Designing and Performing Audit Procedures that Involve Technology-Assisted Analysis of Information in Electronic Form Anticipate the Proposed New Standard on Amendments to PCAOB Auditing Standards related to a Company’s Noncompliance with Laws and Regulations Understand the Proposed New Standard on the General Responsibilities of the Auditor in Conducting an Audit Anticipate the Proposed New Standard for the Auditor’s Use of Confirmation Understand the Proposed New Quality Control Standard Recite New Requirements for Lead Auditor’s Use of Other Auditors Gain insight on the PCAOB’s Inspection Priorities, including Audit Risks Related to Fraud, the Financial Services Sector, and Crypto Identify the current state of the PCAOB’s inspections of registered public accounting firms headquartered in mainland China and Hong Kong Anticipate other Standard-Setting and Research Projects Click here to register and learn more. About Johnson Global Accountancy JGA is dedicated to helping public accounting firms around the globe achieve the highest level of audit quality. All CPAs and former PCAOB inspection staff, JGA professionals are passionate and practical about working alongside firm leadership to ensure the right controls, policies, and practices are implemented throughout the organization. Visit www.jgacpa.com to learn more about Johnson Global.