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Free CPE: Going Concern Accounting and Auditing issues
View the WebinarFollow this link to register or access the recording. After this seminar has passed, the recording will still be available.CPE CREDIT WILL BE AVAILABLE TO LIVE ATTENDEES ONLY.Event...
View ArticleSEC Chief Accountant Suggests a Mysterious Plan D for IFRS
In remarks to the U.S. Chamber of Commerce on Wednesday, SEC Chief Accountant Jim Schnurr floated a fourth, mysterious alternative to use of IFRS in the U.S.FEI reports:Schnurr described three possible...
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Auditors Reminded That If They Keeping Screwing Up, They'll Be Making the...
Auditors, consider this your friendly reminder not to fuck things up this busy season. Just in case you were thinking about blowing off revenue recognition or going concern issues (that's the standard,...
View ArticleFriday Footnotes: Finding Fraud; Merger Madness; The Sexiest Recruiters |...
Man gets prison for failing to pay taxes on drugs [Pensacola News Journal]You can expect strippers masquerading as recruiters at your next Meet the Firms [Daily Mail]Sam is on a roll this week...
View ArticleAccounting News Roundup: Audit Risks; Astronaut Tax Issues; More Productive...
7 risk areas for the 2014 audit cycle [JofA]In case your team is out of ideas.Nobody escapes U.S. taxes - even astronauts [CNN]They cut this scene from Ron Howard's movie: "Taxes have long stressed out...
View ArticleNASBA's Website is Shut Down Again
For a third score release in a row, NASBA is locking CPA exam candidates out of its website so you people don't break the Internet with your obsessive refreshing. I suppose at this point we can assume...
View ArticleKids These Days Trust the IRS More Than Olds Do
There are plenty of comparisons between flighty, mysterious Millennials and their generational predecessors, but this is a new one:Milennials (18-24) trust the IRS (73%) to enforce the law fairly more...
View ArticleFASB Supports the SEC's Commitment to Tiptoeing Around IFRS Adoption...
This week, the AICPA Conference on Current SEC and PCAOB Developments is going down in Washington and unfortunately I am missing it this year as I'm due in Dallas this week for AccountingWEB Live which...
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Accounting News Roundup: PwC Accused of Being a Tax Avoidance Factory;...
PwC sold ‘tax avoidance on industrial scale’ [FT]This sounds fun: "MPs accused a firm of accountants of 'selling tax avoidance on an industrial scale' on Monday after a tense parliamentary hearing...
View ArticleSatyam Founder Sentenced to 6 Months in Prison for Massive, Obvious Fraud
Remember Satyam? That Satyam? Yeah, it's been awhile for us, too.Satyam's PwC India auditors already received a lifetime ban, but what about Satyam's founder? Surely you've been wondering what sort of...
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If No One Else Will Hire You, Maybe You Should Call Deloitte
This is from Jim Moffatt, Chairman and CEO of Deloitte Consulting, as written in The Hill:"That’s why, in January 2014, my organization, Deloitte, joined more than 300 companies – including 20 members...
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The AICPA Can't Figure Out Why Record Numbers of Accounting Grads Aren't...
AICPA President, CEO, and Benevolent Dictator Barry Melancon gave his yearly "state of the profession" address to CPA Letter Daily recently, but we won't bore you too hard with the specifics. We will,...
View ArticleLuxembourg Leaks All Over EY's Tax Planning
Last month, we learned about a trove of documents that revealed a creative tax planning strategy on the part of PwC. Now, we're learning the Luxembourgian manuevering wasn't limited to just one Big 4...
View ArticleAccounting News Roundup: The Auditor Sit n Spin; Child Taxstravaganza;...
Prosecution drops embezzlement charge against accountant due to lack of evidence [MLive]“I’m not saying it didn’t occur, but sometimes you just don’t have enough evidence to convince 12 jurors beyond a...
View ArticleGoing Concern Presents: The Top 5 Open Items of 2014
I know it seems like a long time ago but believe it or not, we launched Open Items this year. Crazy, huh?In the spirit of year in review posts, we humbly present our picks for the top 5 Open Items of...
View ArticleAccounting News Roundup: Small Ladies Get Small Sentences; Wal-mart's...
How Wal-Mart Made Its Crumbling China Business Look So Good for So Long [Bloomberg]After years of heralding China as one of its best markets, Wal-Mart (WMT) in August said its performance there was...
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Comp Watch '14: KPMG Variable Comp is Out and Some Folks Aren't Pleased
This just arrived in our inbox this morning, let's skip the formalities and get right to it:FY15 variable comp ranges for us behind-the-scenes slaves were announced today, 12/11. Who are they kidding?...
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Greg Kyte Almost Got His Butt Kicked Over Value Pricing at AccountingWEB Live
In case you haven't noticed, the GC Brain Trust is in Dallas, TX this week for AccountingWEB Live, which would explain why we've been a little quiet the last few days.After Ron Baker's session,...
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Accounting News Roundup: KPMG's Revenues; Gilmore Girls Guy Sues CohnReznick;...
KPMG International Achieves Record Revenues [AT]Seems respectable: "KPMG International said it realized record revenues globally of US$24.82 billion for the fiscal year ending Sept. 30, 2014, a 6.3...
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Peter Olinto Crashed PwC's Holiday Party in NYC
As I said on Facebook, pics or it didn't happen, bro.While we're waiting for photo evidence that Olinto was, in fact, in attendance at PwC's holiday party, let's take this opportunity to remind...
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