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Retired SEC Lawyer Calls Agency Penalties "At Most a Tollbooth on the...
James Kidney, who joined the SEC in 1986 and retired this month, offered the critique in a speech at his goodbye party. His remarks hit home with many in the crowd of SEC lawyers and alumni thanks to a...
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Man Sentenced For Fraud While Waiting To Serve First Sentence for Fraud
We all know zebras can't change their stripes, and former Crazy Eddie CFO Sam Antar has taught us not to believe criminals when they claim they are sorry and repentant.One Peter In Cho, the former head...
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The Best (and Worst) of #busyseasonproblems
The end, it be nigh y'all. Not nigh enough to complain all the way to the finish line, however.Oh, and if you're morally opposed to the temporary Buzzfeedification of this sacred ground, it's not too...
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Finally, LinkedIn Gives You the Option to Turn Off Endorsements
We have discussed LinkedIn endorsements previously -- I would like to thank everyone who endorsed me for losing the remote, cat wrangling, writing about endorsements, and general mayhem after that post...
View ArticleThe SEC Wants You to Know What Ponzi Scheme YouTube Videos Look Like
It's kind of like an infomercial but with fewer incompetent idiots trying to accomplish basic tasks like using Tupperware and cracking eggs.Before we get to the video, let's get to the press release...
View ArticleFootnotes: Capital Rules; More Capital Rules; Florida Woman at it Again |...
Regulators Approve New Capital RuleA campaign to make the financial system safer advanced on Tuesday, as federal regulators approved a rule that could put large banks on a firmer footing and persuade...
View ArticleANR: Scott London, U.S. Attorney Have Different Ideas About a Prison...
U.S. Attorney Asks Judge for Three Year Sentence for Former KPMG Partner [WSJ]Scott London was looking for something a little less than that: "Harland Braun, Mr. London's attorney, has requested a...
View ArticleBusy Season Zen: Cute Armadillo Bathtime or 3 Hour Norwegian Train Ride?
Sometimes you need more than just a cute, weird animal. So for this week's edition of Busy Season Zen, we're giving you not one but TWO video escapes.First, the armadillo. You may think it looks like a...
View ArticleWisconsin Drops CPA Exam Education Requirement to 120 Units After...
Every time I write about a legislative event be it MACPA's CPA Day or AICPA Council, you guys seem to tune out. Who cares? This is boring! MOAR MEMES!The reason you should care is that lawmakers aren't...
View ArticleGAO Went Undercover to Discover Tax Preparers Are Terrible at Tax Preparing
Mind you, it was a small sample of 19 but of those, 17 were wrong:GAO found significant preparer errors during undercover site visits to 19 randomly selected preparers — a sample which cannot be...
View ArticleHouse Republicans Still Keeping Themselves Busy Trying to Ruin Lois Lerner's Day
House Republicans are taking action on multiple fronts this week against former Internal Revenue Service official Lois Lerner, pursuing criminal charges against her for alleged violations that include...
View ArticleThis Poor Guy Is More Bummed Than Anyone at KPMG About Billion Dollar Brackets
Remember when KPMG reminded its employees that they -- and their immediate families/baby mamas/dogs -- were ineligible to participate in the Yahoo/Quicken Loans Billion Dollar Bracket Challenge because...
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Footnotes: Does Your Dog Groomer Do Taxes?; Danger Internet!; Stolen Intern...
In case you haven't heard, there's a bad Internet bug going around. Here's what you need to do to protect yourself just in case [Mashable]Computer problems for IRS, Canadian tax agency [Don't Mess With...
View ArticleAccounting News Roundup: Taxes Are a Snap for the Poors; EY Still Dealing...
Poll: Most Americans say filing taxes easy [AP]The trick? Be poor! "Not surprisingly, higher income taxpayers are more likely to say that filling out tax forms is difficult. Wealthy people tend to have...
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Fall Asleep at a Board Meeting and You Might End Up in an SEC Filing
SEC filings don't often get better than this. In this case, we have a hopeful bank coup in progress:Dear Fellow Shareholder, Below is a picture taken at last year’s annual shareholder meeting of our...
View ArticleFrance Outlaws Doing Work After Hours, Even For Big 4 Firms
Just with Deloitte's love note to Green Dotters we shared the other day, there's nothing to prevent firms from holding staff hostage. However, when it comes to being a smartphone pest after hours, not...
View ArticleDavid Cay Johnston vs. Tax Girl on Twitter: PLACE YOUR BETS
Twitter fights are always good, especially when they involve people we've come to know and love (or, as is the case with one of the participants in the following exchange, know and troll). Apparently,...
View ArticleIf a Movie About Fraud Was Funded With Fraud, That Would Be Dumb (and Dumber)
The source of the $100 million used to finance Oscar-nominated The Wolf of Wall Street is being openly questioned in a Los Angeles courtroom.Brad Krevoy and Steve Stabler, producers of the 1994 hit...
View ArticleFootnotes: A Republican Circus; You Can't Always Trust Your Accountant; Tax...
The Chicago Public School system used an "accounting trick" to find money. And by "accounting trick" it looks like that means "gladly pay themselves Tuesday for a hamburger today" [WGN]There's Still...
View ArticleAccounting News Roundup: Audit Deficiencies Are Global; Paying Taxes with...
Problem Audits Are Global Issue, Survey Finds [WSJ]The International Forum of Independent Audit Regulators just wrapped up a three-day meeting (ugh) on the issue of audit quality: "Big accounting firms...
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