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Accounting News Roundup: PwC's New Women Partners; Give Better Negative...
Payrolls in U.S. Rise More Than Forecast; Jobless Rate at 6.1% [Bloomberg]An interesting datapoint: "Today’s Labor Department’s payrolls report also showed factory hiring increased by 16,000 in June....
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Hey Folks, Let's Help EY Name Their New Audit Tool!
Move over, GAMx, there's a new player in town. Here are the details from our mole on the inside who made sure to point out that "nobody I know of will be participating" (lest this person be associated...
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KPMG Not Sure If It Should Sue Itself Over Spectacularly Failed Client
Back in 2011, the 138-year-old Irish Nationwide Building Society failed due to really crappy loans in a really crappy economy. It was nationalized at a €5.4 billion ($7.35 bil USD) cost to taxpayers...
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#TBT: The Pre-Enron Scandal That Warned Against Big 5 Firms Violating...
Just in time for Independence Day!From "The Pwc Scandal Changes Everything," which appeared in Businessweek back in February of 2000:Regulators are putting pressure on the entire profession. The SEC...
View ArticleFootnotes: Deloitte NOT In Sex Trafficking Business; An Insane 4th of July;...
Ed. note: we are cutting out early for the holiday because God forbid I sprain a pinky overexerting myself with a three day weekend ahead. We may poke our heads in tomorrow to see what's up but...
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Crumbs Bake Shop Just Fulfilled Auditor Rothstein Kass' Going Concern Prophecy
Only a few short weeks ago (May 15, to be exact), Rothstein Kass expressed substantial doubt about Crumbs' ability to continue as a going concern in a 10-Q filed with the SEC for the quarter ended...
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IRS To Crack Down on Idiots Who Misuse Refund Direct Deposit
The Journal of Accountancy's unnecessarily dramatic headline -- Limit on direct deposit of refunds will go into effect in 2015 -- doesn't quite capture what's really going on here. What's really going...
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Consultant Shares Secrets For Milking the Most Out of CPA Firm Staff
It isn't enough that you give your heart and soul or at least most of your billable hours to the firm for which you work, but you are also expected to go above and beyond by bringing in that cash...
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Americans for Tax Reform Wishes You a Happy Cost of Government Day
In 2014, Cost of Government Day falls on July 6.This day marks the point during the year when the average American has earned enough income to pay for his or her share of the spending and regulatory...
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U.S. Companies Should Beware of "Ambiguous" Auditor Rotation in Europe
Damn you, globalization, all this stuff was so much easier when we shopped at mom and pop stores, salted our own pork for the winter and conducted business in wampum while avoiding dysentary and snake...
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Footnotes: The Last Crumb; Focus Turns to Madoff Son; GT's Dynamic Growth |...
You can buy "the last Crumbs cupcake" for $1000 [USA Today]Accountant's plea signals more possible scrutiny of Madoff sonU.S. prosecutors may still be building a case against imprisoned swindler...
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Accounting News Roundup: Dark Arts of Ladder Climbers; Reminder: IFRS Not...
In Deal to Cut Corporate Taxes, Shareholders Pay the Price [DealBook]Medtronic shareholders, to be specific: "The Internal Revenue Service will treat the acquisition as if Medtronic shareholders had...
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Tax Superhero and George Michael Among Those Caught Using Tax Shelter in the UK
News recently came out that a few well-known celebs -- among them, George Michael, the Arctic Monkeys, Sir Michael Cane and a loan shark convicted of rape -- took to a (legal) tax scheme called Liberty...
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Grant Thornton Picks Up a New Client in the Interest of Penny-Pinching
Perma-Fix Environmental Services, a "global provider of safe, compliant, and environmentally responsible nuclear services and radioactive waste management solutions," has swapped auditors, and gives...
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Free CPE: FRF for SMEs Series--Statement of Cash Flows, Subsequent Events,...
Event Date: July 17, 2014, 2 pm ETThis webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described...
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All These Years Later, the Fraud Triangle Is Still a Staple
Times may change and fraud schemes may evolve with those changes but for the most part, the root cause and therefore the subsequent behavior of would-be fraudsters generally remains the same. As the...
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Grant Thornton Principal Clarifies That You Are Allowed To Call Your Boss a...
Does your firm have a social media policy? If no, should it?If it does, your firm would be wise not to cross the National Labor Relations Board, which has ruled in favor of workers subject to draconian...
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The Tax Foundation Is Concerned About the Tax Implications of Potato Salad
Zack Danger Brown's potato salad fundraiser is still racking up the simoleons, and those ever diligent defenders of tax justice at the Tax Foundation have calculated exactly what he might owe in taxes...
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Footnotes: Independence or Lack Thereof; KPMG to Defend Again; WTF Is FICA...
Danville accountant drowns on vacation in South Carolina [GDR]Parsippany memory-stick maker PNY accuses California accountant of fraudA suit filed by PNY in U.S. District Court in Newark claims that...
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Accounting News Roundup: PwC Dealt Setback in MF Global Suit; Banco Espirito...
PwC must face $1 billion lawsuit over MF Global collapse [Reuters]U.S. District Judge Victor Marrero doesn't let in pari delicto doesn't fly this time: "Under PwC's reasoning, the in pari delicto...
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