Accounting News Roundup: Digging Up Bodies at Deutsche Bank; PCAOB's Latest...
Deutsche Bank: Show of strength or a fiction? [FT]Josef Ackermann was bullish. Even as the global financial industry was reeling, the Deutsche Bank chief executive began 2009 by boldly declaring that...
View ArticleClik here to view.
Politicians Incorrectly Demonizing "Tax Loopholes" Is Old Hat
Today, Christopher Bergin explains how our elected officials butcher the term "tax loophole":For now, let’s look at the Republicans (trust me, I plan to get to the Democrats, too). When Republicans...
View ArticleRSM Tenon Shareholders Actually Acted on Their Dissatisfaction with PwC's...
You may not know this, but McGladrey's British sister from another mister is RSM Tenon. Like most large accounting firms RSM Tenon provides a wide variety of exemplary professional services demanded by...
View ArticleDon’t Be a Menace to the Cloud While Leveraging Your Dynamic Innovative...
For the remainder of the week, I'm in DC covering the 2012 CPA2Biz Digital CPA conference. This 3-day event is the first of its kind offered by CPA2Biz and promised to highlight best practices for...
View ArticleFootnotes: Oy, Derivative Accounting; Should Auditors Ditch Independence?;...
Scrutiny at the Gate: Firms' Role Questioned [WSJ]Deutsche Bank Ignored Some “Losses” Until They Went Away[S]ome things live in a level-3 world where there are no specific rules and no obvious markets...
View ArticleAccounting News Roundup: The U.S.-China Audit Ripple Effect; MD&A in English,...
U.S.-China Audit Clash Could Have Broad Reach [Reuters]The standoff over Beijing’s refusal to give regulators in the United States access to audit records for nine Chinese companies listed in North...
View ArticleClik here to view.
PwC to Require More Robust Review and Supervision of Auditors, Although...
Last month, the PCAOB released its 2011 inspection report for PwC. With a 41% deficiency rate for the 60 audits inspected, it's safe to assume that the firm wishes it could have put up a better...
View ArticleFootnotes: Mo' Money, No Money and Everything You Didn't Want to Know About...
KPMG built a replica of the Chicago Water Tower using books. For charity, of course. [KPMG]Accountable [Economist]Cheat Sheets To The Obamacare Investment Income Tax Regulations [Forbes]10 Things You...
View ArticleTo Whom It May Going Concern: "You're an accountant concerned about being...
To Whom It May Going Concern is an infrequent feature of some our favorite messages that come across the wire. If you have something important to tell us, email tips@goingconcern.com with "To Whom It...
View ArticleTax Shaming Works
Martin Sullivan cites a KPMG study from 2005 that was ahead of its time: "The main point is not that accusations are often unjustified, but the fact that they are made at all. Tax has news value now...
View ArticleThe Third Batch of CPA Exam Scores Has Been Released for the October/November...
Yes, it's a little ambitious for us to be posting on a Saturday in December, but we're here for those of you that have suffered long and hard for some BEC closure. Plus, NASBA doesn't rest on the...
View ArticleAccounting News Roundup: Google's Bermuda Vacation; Autonomy's Lynch Still...
Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion [Bloomberg]Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a...
View ArticleNew York, California in a Horse Race for Sending Most People to States with...
Hot off the Twitter, New York Times'Catherine Rampell shares some interesting data about movers in 2012:nation’s overall mover rate increased from a record low of 11.6 percent in 2011 to 12.0 percent...
View ArticlePwC Tampa Office Attempts to Top Clark Griswold
Over the last couple of years, the PwC Tampa office has been in the news for various reasons, none of which were very flattering.Back in 2010, the firm laid off nearly 500 employees much to the chagrin...
View ArticleThe Cloud Will Cause More Family Arguments This Holiday Season Than Ever Before
With our email addresses plastered all over this website, we get a ton of spam from "marketers" and "PR professionals" who try to pitch us topics completely unrelated to this website such as WHAT HAS...
View ArticleA Maine Woman’s Illiteracy Will Be a ‘Fact of Significance' in Her Tax Fraud...
Not having a firm grasp on taxes is rarely an acceptable defense for committing tax-related crimes. HOWEVER, a woman in Maine is employing a slightly different angle for her defense:Carole Swan...
View ArticleFootnotes: PCAOB Still Piling on Big 4; The Charitable Deduction's Sanctity;...
Audit Regulator Criticizes Big Accounting Firms [WSJ, PCAOB Report]US Treasury announces sale of remaining AIG stock held by government [AP]Foreign Auditor Inspections? "China Syndrome" Strikes the...
View ArticleAccounting News Roundup: ICAEW Wants IASB to Give It Up; BDO, PKF Finalize...
Top body wants halt in global accounting alignment [Reuters]The London-based ICAEW called for the first time for the International Accounting Standards Board (IASB), whose rules are used in over 100...
View ArticleHugh Jackman’s Excitement for PwC’s Role in Oscar Night Not Shared by the Old...
We all know that PwC can hardly contain their excitement when talk of the Oscars starts. After all, they've been tabulating the ballots since the events that inspired The Passion of the Christ occurred...
View ArticleClik here to view.
ICAEW to IASB: The U.S. Is Just Not That into You
This morning we learned that the ICAEW gave up, refusing to go along with the lie that the IASB has been telling itself all this time -- "They'll call. They'll realize that they've been wasting their...
View Article