IFRS under fire at Parliamentary hearing “The IASB is subsidised by Big Four accounting firms and major corporations, including banks… It has its own political agenda,” he added. “It lacks independence from those organised interests and has failed to introduce any standard that requires banks to come clean about their special vehicles, offshore structures or even their transfer pricing practices.” [AWEBUK]
PwC says India arm questioned in Nokia tax probe [Reuters]
This Deloitte press release boasts that the firm's spot on the F100BCTWF is "the highest in a decade" yet it's odd that it didn't mention the actual ranking — 47th — once. [Deloitte]
Cherry, Bekaert & Holland will now be known as Cherry Bekaert. [VB]
Meg Whitman on fixing HP and Autonomy's accounting troubles So when Mike [Lynch] left, it was three or four weeks, and a senior executive from his team came forward and said, "Listen, I need to tell you what has been going on at Autonomy for the three years prior to when you bought it." And I’m not sure that we would have been able to figure out the accounting improprieties had we not had a guide on that journey. Because it was pretty sophisticated. So we took that very seriously. Did a forensic review of the accounting. Hired PWC. That was a very detailed and quite long process. Because you’ve got to make sure you understand as much as you can. And you’ve got to make sure all the analysis is ticked and tied and all of it makes sense. [LAT]
Guesstimating Credit Losses [GOA]
A Tiny Little Blog Post on a Tiny Little Tax Bracket That is, the Loyola/Tennessee Tech bracket. [TPC/TaxVox]
Feds finalize rules on tax evasion measure [The Hill]
Inmate cheats IRS out of $2.8M in refunds [AJC]
