News

Friday Footnotes: The CPA Is A-Changin’; Audits Still Suck; CPA.com’s New Partner | 12.13.19

Proposed CPA licensure model emphasizes core plus disciplines [Journal of Accountancy] A newly proposed CPA licensure model developed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is designed to help newly licensed CPAs learn the skills and competencies they will need in the workplace of the future. The draft licensure […]

There Was One Wreck Paul Volcker Couldn’t Salvage

The out-pouring of encomia for Paul Volcker, who has died at age 92, would tower over even his own formidable 6 ft. 7 in. (e.g., samples in the Financial Times and the New York Times). His credits over more than 40 years include the taming of the rampant inflation of the 1980s as Federal Reserve chairman and, post the […]

Accountants Behaving Badly: 367 *Years* In Jail, Scamming the Elderly, Wire Fraud Indictment

Plus, Kia Motors bookkeeper’s embezzlement case continued to January, and tax preparer gets 27-month sentence in scheme to defraud the U.S. Accountant sentenced to 367 years in prison [Onlanka.com] A court in Colombo, Sri Lanka, sentenced Hikkaduwa Liyanage Nandasiri, the former accountant of a public company, to 367 years of rigorous imprisonment [emphasis added] after […]

Friday Footnotes: PwC DC; Microsoft’s KPMG Deal; Do You Even Bitcoin Bro? | 12.6.19

Shh! Companies Are Fixing Accounting Errors Quietly [WSJ] Filed under: things y’all probably already know. BDO USA, LLP NAMES KELLY JOHNSON AS BOARD CHAIR; FOUR PARTNERS ELECTED TO BOARD OF DIRECTORS [BDO] WHY ARE YOU YELLING. PwC will consolidate as many as 1,700 jobs to DC [WTOP] Big professional services and consulting firm PricewaterhouseCoopers has […]

Boring Man Tops Boring List of Accounting Influencers For the Bazillionth Time

Dunno if you heard but the Accounting Today Top 100 Most Influential People in Accounting list is out, and as is tradition, it’s jam-packed with some familiar names, including some longtime GC favorites like the Patron Saint of Value Pricing Ron Baker and my eternal ladycrush Sue Coffey. While we’re on the topic of our […]

PwC Would Appreciate It If Staff Would Stop Getting Drunk In the Office, Thx

In a former office of mine that shall remain nameless, we had a liquor cabinet. Working long hours, it wasn’t unheard of for my colleague and me to pour ourselves a drink at 5 on the dot, sipping vodka Red Bull as we tied up the day’s tasks. The arrangement worked well as we got […]

Santa Will Not Be Bringing CFE Candidates Their Long Overdue Scores For Christmas

Right now in Canada, about 8,000 would-be CPAs are sitting around twiddling their 10-key fingers not knowing A) if they passed September’s Common Final Examination, and B) if their scores will even count after a long legal review into the disaster of an exam that plagued thousands across the country. From testing center Internet outages […]

Accountants Behaving Badly: Retirement Fund Theft, Defrauding Nursing Home, Fraudster Going to Jail

Plus, two tax preparers, who as it turned out weren’t registered tax preparers, are sentenced for filing false tax returns. Plymouth accountant charged with stealing from county retirement board [Wicked Local] Paul Hurley, the former accountant of the Plymouth County Retirement Association, is accused of stealing money from the fund. He was arrested on Nov. […]

Friday Footnotes: FASB Changing It Up; IRS Now Hiring; KPMG Fights Its Bad Rep | 11.29.19

Ed. note: welcome to a special Black Friday edition of Friday Footnotes. Special because ain’t shit going on so this will be short. We’ll be back to your regularly-scheduled programming come Monday. From me, Bramwell, the silent TPTB and everyone else at the Going Concern team, Happy Thanksgiving! -AG FASB proposes changes aimed at improving […]

Accountants Behaving Badly: No Jail for PwC Peeper, Guilty Plea for Embezzler, Catholic Church Crook

Plus, no more lavish lifestyle for part-time accountant, and an accountant gets busted for stealing grocery gift cards. High-flying PwC accountant, 24, who was caught with 1,700 upskirting images after he was spotted behaving suspiciously in Topshop on Oxford Street store is spared jail [Daily Mail] Leon Chan got a suspended prison sentence. On Friday […]

Friday Footnotes: Accountants Exposed; EY’s ‘Sham’ Study; A Word About Robots | 11.22.19

Security lapse exposes personal data of 6,500 Singapore accountants [ZDNet] A folder containing personal data of 6,541 accountants in Singapore was “inadvertently” sent to multiple parties, in a security lapse that was uncovered only months after, when it implemented an email protection tool as part of a government-wide deployment. The incident exposed personal details such […]

Accountants Behaving Badly: Ex-KPMG Auditor Detained, Stealing From Clients, Ripping Off Boss

Plus, healthcare accountant sentenced to two years in jail for embezzlement, and tax preparer gets three years for filing fraudulent tax returns. Auditor detained after saying devil told him to kill his sister [Metro U.K.] Khalid Ashraf, who had worked as an auditor for KPMG for eight years until October 2018, pleaded guilty to manslaughter […]

Friday Footnotes: Subprime Accounting Magic; A Street Fighting Number-Cruncher; FASB Gets Busy | 11.15.19

Calibre CPA Group, Notice of Data Privacy Event [PR Newswire] Clients of Bethesda-based Calibre CPA Group, consider yourselves warned that the haxz0rs may have your personal information. In Hong Kong, an accountant by day becomes street fighter by night [Washington Post] “We have started to realize we need to arm ourselves. We are in a […]

Accountants Behaving Badly: Drugs and Sex Trafficking, Bookkeeper Busted for Embezzlement, Visa Fraud

Plus, a bunch of tax preparers are going to be spending some quality time in jail. Kentucky man charged with sex trafficking, drug conspiracy [Associated Press] Mark Milslagle, a former Kentucky accountant accused of paying for sex with young women who were addicted to drugs, faces federal conspiracy charges. Milslagle, 49, was charged on Nov. […]

Friday Footnotes: Deloitte Tightens Its Belt; KPMG Kuts; Square Gets Square With the SEC | 11.8.19

Maryland Association of CPAs CEO and Going Concern favorite Tom Hood has been chosen as one of Maryland’s most admired CEOs [Daily Record] Go Tom! Deloitte Private to be cut amid low profit, low growth [Financial Review] Big four consulting firm Deloitte is set to dissolve one of its six business units, Deloitte Private, an […]

This Accounting Student Is So Desperate For an Internship He’s Hitting Tinder to Find One

OK look, I’m old and spent my entire 30s in the same relationship so I don’t know a thing about Tinder other than what I’ve heard from friends and seen posted in meme form. There’s swiping involved, I know that. Man, you kids don’t know how good you have it. Back in my day, we […]

Accountants Behaving Badly: Jailed Over Ponzi Scheme, Firm Fined In Pot Bust, Embezzlement Admission

Plus, tax preparers plead guilty to preparing fraudulent returns, and the owner of a tax preparation business failed to file his own taxes. Gambling accountant gets 14 years for $396M Ponzi scheme [Law360] Texas CPA Jay Ledford will serve 14 years in federal prison for his supporting role in a Ponzi scheme that netted $396 […]

Friday Footnotes: Don’t Go Nuts at PwC; Bullied KPMGers’ Fresh Start; Best Firms For the Youths | 11.1.19

KPMG duo who quit amid bullying fallout make senior hires at new firm [Financial News] Two ex-KPMG partners, who set up their own consultancy after leaving the Big Four accounting firm over its handling of complaints of bullying, have lured two former executives from their old employer to the new venture. Maggie Brereton and Ina […]

Accountants Behaving Badly: Ripping Off Olympian, Ex-IRS Employee Jailed, Stealing From Your Own Firm

Plus, a Massachusetts accountant pleads guilty to tax fraud, and a Toronto accountant gets prison time for stealing from charity. Oregon CPA who ripped off Olympic snowboarder and spent trust fund of porn shop heirs headed to prison [The Oregonian] Nathan Wheeler was sentenced to four years and three months in federal prison on Oct. […]

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Friday Footnotes: Firm Moves; PwC’s Future-Ready Workforce; KPMG Gets Sneaky | 10.25.19

PwC and EY accused of complicity in Thomas Cook collapse [FT] MPs have accused two of the UK’s Big Four accounting groups of being “complicit” in the failure of Thomas Cook, slamming one, the travel group’s former auditor PwC, over an alleged conflict of interest in its pay advice to executives. Cases against EY and […]

If You’re Waiting For Your CFE Score, You’re Going to Be Waiting a Long Time, Says CPA Canada

Show of hands, who here thought CPA Canada would, by some miracle, be able to get scores from last month’s clusterfuck of a CFE out on time? Anyone? Bueller? Yeah, that’s what I thought. Well today they finally got around to telling candidates not to expect a miracle. Sure no one is surprised. Let’s check […]

Accountants Behaving Badly: Defrauding the IRS, Stealing From School, Drunken Leadfoot

Plus, an accountant allegedly stole thousands from an ice rink construction company, and a male tax preparer who pretended to be a woman named Alyssa Jean Pipes is accused of screwing over his clients. Former state senator’s accountant convicted of tax fraud [Justice Department] John Nardozzi, an accountant for former Massachusetts senator Brian A. Joyce, was […]

Friday Footnotes: Accounting For Robots; KPMG Partners Get Bitten; EY Law Gets Cred | 10.18.19

Art of Accounting: Lessening compression oppression [Accounting Today] A big problem for almost every accounting practice is the tax season workload compression. It is what it is, but it doesn’t have to be. Here are some suggestions on how to pull work out of tax season and push it into November and December to better […]

Accountants Behaving Badly: Train Station Turd, College Crook, Fake CPA’s Fraud

Plus, a New South Wales accountant got jail time for stealing moola from clients, and a Texas tax preparer is going to prison for a while for defrauding the U.S. Drunk trainee accountant who pushed man onto Tube tracks has sentence increased [The Times] Mathuram Muthuraja, a trainee accountant who drunkenly pushed another man onto […]

Friday Footnotes: Yo Dawg I Heard You Like Fraud; PwC’s ‘Hipsturbia’; Busy Season Redux | 10.11.19

Warning Signs about the Future Supply of Accounting Graduates [The CPA Journal] At the ground level, something has gone wrong with student perceptions about the value of an accounting education. It may take a few years for this changed dynamic to show up in economy-wide reports, but that a new dynamic is underway is obvious […]

State of the Profession 2019: We Need to Talk About Accounting’s Big PR Problem

Not sure if anyone’s noticed but the profession is in trouble. You know it’s bad when the most cynical of cynics feels compelled to say yeah, this is kinda actually bad. Sure, I’ve talked plenty of shit over the years but I’ve also been one of the profession’s biggest cheerleaders, lifting up future CPAs when […]

Accountants Behaving Badly: Rogue Tax Preparers, Suzuki Theft, Kiddie Porn

Plus, Filipino accountant gets jail time for embezzlement, and a CFO will spend time in a Canadian prison for stealing money to fund her opioid addiction. Former New Haven tax preparer pleads guilty [Justice Department] Devon Williams pleaded guilty on Oct. 2 to one count of aiding and assisting the preparation of a false tax […]

CPA Canada Has Brought In the Lawyers to Figure Out How Last Month’s CFE Got So F*cked Up

Aw snap, shit’s real now, the lawyers have gotten involved. ICYMI, the long and short of the CFE debacle (lovingly dubbed “Fyre Festival for accountants” by angry Redditors) is that candidates in multiple jurisdictions were greeted with countless technical issues that peaked on Day 2 of the marathon three-day exam. Some candidates reported being “held […]

Accountants Behaving Badly: Big 4 Scammer, Dude Got His Nads Cut Off, Refund Stealing

Plus, accountant sentenced to seven years in jail for fraud, and church-swindling accountant gets sentenced to three months in prison. Accountant tricked girlfriend out of thousands in cancer scam [Accountancy Daily] Badal Arun Hindocha, who cheated his Internet girlfriend out of £4,300 by claiming he was dying from stomach cancer, received a suspended jail sentence […]

Friday Footnotes: KPMG Switcheroo; Deloitte’s Gender Pay Problem; Death to The Big 4 Oligopoly | 9.27.19

KPMG switches 820 UK staff from advisory to audit [Financial Times] KPMG has moved 800 staff and about 20 partners from its advisory division into its audit department in preparation for a possible forced break-up. Any consultant who spends more than 10 per cent of their time advising auditors will now sit within the audit […]

Accountants Behaving Badly: Naughty Kitty, Fancy Fraud, Cokehead Jailed

Plus, Colorado accountant arrested in child sex sting, and a UNLV accounting grad student is accused of killing ex-girlfriend. Essex accountant admits fraud against Cats production firm [BBC] Scott Hiskey, a U.K. accountant who worked for Monumental Pictures, pleaded guilty on Sept. 17 to a charge of fraud by abuse of position after admitting to […]

Let’s Talk About How CPA Canada Totally F*cked Up Last Week’s CFE

Many years ago in another lifetime, I dated this total loser. Now, I know what you’re thinking: “Adrienne, what the hell do your dubious dating choices have to do with accounting?” Bear with me, we’ll get there. So, this loser. He was an adorable if grungy scamp with tattoos dotted across his body like scribbles […]

Friday Footnotes: Me Too Too; CPA Cred Boosted; Why the F*ck Do Partners Get Paid Bank Despite Failings | 9.20.19

AICPA’s new forensic standard expected to boost CPA credibility on witness stand [Accounting Today] The American Institute of CPAs has a new forensic accounting standard due to take effect at the beginning of next year, and it promises to give CPAs a leg up in terms of their credibility in providing litigation support as expert […]

Accountants Behaving Badly: EY Gal Pleads Guilty to Fraud, PwCer Fired for Upskirt Pics, Grand Theft Guilt

Plus, wrongful death lawsuit filed against TV show accountant, and Scottish accountant jailed for protecting crime gang member. EY employee conspires in £76k staff fraud [Accountancy Daily] EY Executive Assistant Sukhbir Mawkin and her husband, Anil Mawkin, were sentenced on Sept. 11 for carrying out a £76,000 over four years, using credit card and personal […]

Friday Footnotes: KPMG Loves the Ladies; A Bad Payday; Deloitte Comes For PwC | 9.13.09

EY analysis: Audit committees increasing their disclosures to shareholders [Compliance Week] Subscriber only content but I’m sure it’s interesting. KPMG has 50% women on board [economia] Uh, good job I guess? Google will pay over $1 billion after French investigation over dodged taxes [The Verge] Google has agreed to pay a nearly $550 million fine […]

CPA Canada Is Really Trying to Make CPAs Cool, You Guys

In its ongoing effort to smash the green eyeshade stereotype and convince the public that CPAs do more than just annoy their clients and vague tax-like things civvies will never understand, CPA Canada hired advertising agency DentsuBos to develop a new campaign with the lofty goal “to portray CPAs in a modern light.” It wouldn’t […]

Accountants Behaving Badly: Defrauding Clients, CPA Ponzi Scheme, Wire Fraud Is a No-No

Plus, accountant jailed for lavish lifestyle fraud, and life in prison and hard labor isn’t a horrible enough sentence for one Zambian accountant. New Mexico CPA suspected of defrauding couple out of $1 million [Las Cruces Sun News] Thomas Laws was arrested on Aug. 26 for allegedly defrauding two clients of more than $1 million […]

Friday Footnotes: Deloitte’s New Dope Deal; PwC BTC; The Robots Are Coming | 9.6.19

How an Agency You’ve Never Heard of Is Leaving the Economy at Risk [Project On Government Oversight] POGO writes a hit piece on the PCAOB. Vic.ai, AI platform for accountants, gets $11.2M Series A funding [Accounting Today] Accelerating the robot takeover. De Blasio proposes ‘robot tax’ to counter job losses from automation [The Hill] Speaking […]

Gursey Schneider Has Relaxed Their Dress Code in the Most Uptight Way Possible

I don’t think in the 10 years we’ve been running this rag we’ve ever mentioned Los Angeles accounting firm Gursey Schneider but that ends now and boy did they hit the ground running for their Going Concern debut. Huge thanks to a tipster who provided us with everything we needed to know about GS’s new […]

Accountants Behaving Badly: FUBARed Over FBARs, Fake Returns, Landscaping Larceny

You are probably having a better Labor Day than these six accountants. Former CPA indicted for failing to report foreign bank accounts and filing false documents with the IRS [Justice Department] Ex-CPA Brian Booker was charged by a federal grand jury on Aug. 27 with failing to file Reports of Foreign Bank and Financial Accounts […]

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Friday Footnotes: CPA or Nothing; PwC Snitched?; When the Cloud Goes Down | 8.30.19

PwC accused of sharing confidential information [economia] Watchstone has accused PwC of “inducing breach of contract” and “unlawful means conspiracy” against the Big Four firm. The company claims that secret meetings with PwC, allegedly called for by Slater & Gordon, were arranged to share confidential information. Watchstone alleges that this was for the law firm […]

Accountants Behaving Badly: Deadly Lunch Breaks, Embezzler Gets 10 Years, Church Swindler

Plus, tax accountant pleads guilty to scamming clients and a movie production accountant is accused of stealing money from his employer. Police: Lindenwold man’s ‘demeanor’ changed after co-worker’s murder [Cherry Hill Courier-Post] Kenneth Saal, a staff accountant at Engine Group in Princeton, NJ, since July 2016, was taken into custody on a murder charge at […]

When no other image will do, you get cuddly creatures

Friday Footnotes: Big 4 Affiliates Dinged; Deloitte Finds a New Niche; Furbabies Have a CPA to Thank | 8.23.19

Accounting firm recovers Cryptopia records to help return funds to victims [Yahoo] Cryptopia hired the New Zealand-based arm of accounting firm Grant Thornton to sort out the mess. Today, the firm revealed that it got hold of the only remaining record of the funds held on the crypto exchange, which went into liquidation in May. […]

Accountants Behaving Badly: Stealing From Nonprofit, Stealing From Restaurant, Stealing From Furniture Business

Plus, CPA for reality television stars indicted and accountant arrested for stalking woman. Accounting coordinator at non-profit facing fraud charges for embezzling $321K in organization funds [Justice Department] Danielle Strother-Rush, an accounting coordinator at a Pittsburgh-area nonprofit organization, was indicted by a federal grand jury in Pittsburgh Aug. 6 on charges of bank fraud and […]

Friday Footnotes: EY’s Lost Bitcoin Problem; Deloitte Gets Snitched On; Armanino Gets a Mention | 8.16.19

Here’s why Jeffrey Epstein likely paid little in the way of taxes [CNBC] Because rich people are usually smarter than the poors when it comes to that stuff? A Big Four Audit Firm Lost $1 Million In Bitcoin. Victims Are Losing Patience [CoinDesk] The blunder occurred in February, and at the time, the lost bitcoin […]

Accountants Behaving Badly: Fraudsters Go to Court and Prison Time For Stalking Ex

Plus, a Maryland CPA and a California CPA both get jail time for embezzlement. Newton accountant charged with wire fraud and filling false tax return [U.S. Justice Department] Jeffrey Kellem, an accountant from Newton, MA, was charged with four counts of wire fraud and one count of filing a false tax return on Aug. 5 […]

Friday Footnotes: KPMG Pulls Out; Taxpayers Lose an Advocate; a Deloitte Let Down | 8.9.19

CannTrust says KPMG withdraws audit report [Reuters] Cannabis producer CannTrust Holdings Inc said on Friday its auditor KPMG LLP has withdrawn its report on the company’s financial statements for full-year 2018 and its interim report for the three month period ended March 31. KPMG’s decision was prompted after CannTrust cautioned against relying on its financial […]

Accountants Behaving Badly: Ex-CFO Busted For Embezzlement; Fraudulent Timesheets; Ripping Off Client

Plus, an accountant is accused of keeping a domestic slave at his house and an accounting officer is going to jail for swindling his firm out of £3 million. Former Walton Beverage financial officer sent to jail for embezzling company funds [The Bellingham Herald] David McLeod, CPA, the former CFO of Walton Beverage in Ferndale, […]

Friday Footnotes: Fines, Fines, Fines; Team Deloitte Going For Gold; Party’s Over For One Fraudster | 8.2.19

Is Your Accountant a Wimp? [Entrepreneur] SLANDEROUS. Audit regulator fines PwC Mexico $100,000 for violating independence rules [MW] According to the Public Company Accounting Oversight Board, at least six of its partners had personal financial relationships with Banco Santander Mexico when PwC’s Mexico firm contracted to be the bank’s auditor for FY 2016. KPMG U.K. […]

Friday Footnotes: Cocaine and Hookers; Facebook Slapped By the SEC; PwC on AI | 7.26.19

Geeky accountant who stole £150,000 and blew it on cocaine and hookers told to pay back just £1 [The Sun] Carvill, 38, was jailed for 2½ years after admitting fraud. His sentencing hearing was told he’d been bullied for most of his life and suffers very low self-esteem. Accountants ordered to disclose information on personal […]

Opinion: The AICPA’s Future CPA Exam Plans Are Really Just a Desperate Money Grab

ICYMI, a couple weeks ago I wrote about a joint AICPA/NASBA plan to drag CPA licensure into the 21st century. So far, the initiative is in the early planning stages but it feels like the profession is moving far quicker than its usual snail pace to adapt to our rapidly-changing world, so to think this […]

Some Douchey Deutsche Bank Executives Celebrated Mass Layoff Day In Style

And the winners of the “Asshole of the Month” award are … : Deutsche Bank CEO Christian Sewing says he reprimanded executives for having expensive custom suits tailored the day that mass layoffs hit the troubled bank’s offices in London, New York and Tokyo. Two tailors were photographed coming out of the German bank’s London office on Monday […]

Accountants Behaving Badly: Tax Fraud, ‘Hopelessly Conflicted’ About Ethics, RICO Suave

Let’s see who made the news last week for conduct unbecoming of an accountant. Westchester tax accountant sentenced for tax fraud [Patch] Yorktown Heights, NY-based accountant Steve Sabba was sentenced to five years’ probation on July 18 after he pleaded guilty to third-degree criminal tax fraud and fourth-degree criminal tax fraud, both felonies, in February. […]

Friday Footnotes: FASB Foot-Dragging; Big 4 Babble; One Accountant’s Sweet Escape | 7.19.19

FASB to propose delaying effective dates for 4 major standards [Journal of Accountancy] FASB plans to propose delaying effective dates for four key standards for certain groups of financial statement preparers after a series of votes taken at a board meeting Wednesday. The plan to delay effective dates for certain companies for accounting for leases, […]

Dedicated EY Employees Did Not Let a Little Blackout Deter Them From Providing Exceptional Client Service Last Weekend

I honestly don’t know whether to laugh or cry. To the employees of EY NYC working right now from r/Accounting OP didn’t really deliver with pics so if anyone managed to snag proof, let us know. As we understand it, only parts of Times Square were affected by last Saturday’s blackout, but that’s not nearly […]

Peeping PwC Pervert Busted With a Huge Collection of Upskirt Pics on His iPhone

In this day and age, most of us wander the world assuming our likeness is captured around every corner. Between run-of-the-mill Big Brother surveillance, red light cams, and modern humans’ propensity to broadcast nearly every moment of their waking lives to the internet, getting photographed in public is nothing out of the ordinary (if still […]

Accountants Behaving Badly: Insider Trading, Poker Player Gone Bad, Sex Toy Assault

Was there a full moon on July 10? Accountants were found to be doing bad things on that day. Ex-Illumina accountant accused of insider trading [CFO] Martha Bustos, a former accountant for Illumina, was charged on July 10 with leaking the biotech company’s quarterly results to a close friend as part of an insider trading […]

Friday Footnotes: Lady Taxes; Hunting For Talent; Which Big 4 Dominates Consulting? | 7.12.19

Where should you be looking for top accounting talent? [Accounting Today] Top accounting talent, like talent for many professional services, is in short supply these days. Accounting firms are competing ferociously to attract, land and retain the most talented and experienced employees to achieve and maintain a critical competitive edge in a highly competitive industry. […]

Mazars Is Going Full ‘Survivor’ with New U.S. Alliance Firms

I hate to admit this but I have a weakness for bad reality television. That used to be a shameful thing but I guess it’s kind of like trypophobia, generalized anxiety disorder, and mild alcoholism, none are all too shameful thanks to meme culture and the magic of the internet that unites us all through […]

Accountants Behaving Badly: Form 941 Shenanigans, Embezzlement, Stealing From Mom

Here are some accountants who failed badly at being a trusted advisor. Delaware County accountant charged with multiple tax offenses [Justice Department] Myles Hannigan, an accountant from Newtown Square, PA, was charged by the U.S. Attorney’s Office for the Eastern District of Pennsylvania on July 3 with one count of obstructing the due administration of […]

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Friday Footnotes: Big 4 Bullying; Auditor Gets Boned; Where My Girls At? | 7.5.19

Ed. note: Friday already? Yay! Here’s what you may have missed from around the Internets. If you’ve got a story to share, give us a shout. Have a wonderful weekend, you little lovelies you. KPMG’s Head of Deal Advisory steps down amid ‘bullying’ storm [Consultancy.uk] KPMG’s UK Head of Deal Advisory has stepped down to […]

Exclusive: We Know What Mark Weinberger Will Be Doing That He’s Officially Out at EY

No one was as surprised as we were when the news broke late last year that Mark Weinberger was stepping down as global chairman and CEO of EY. Adding to the mystique of his unexpected departure, our source — who helped us break the story — hinted that Weinberger’s exit was prompted in part by […]

Accountants Behaving Badly: Alyssa Milano Lawsuit Settled, Money Laundering, Revenge=Jail Time

Here are some accountants who were up to no good last week. Alyssa Milano settles $10 million suit with former accountant [Variety] Actress Alyssa Milano has settled a legal battle with her former accountant Kenneth Hellie as the case was about to go to trial. Terms of the settlement were not disclosed. Milano and her husband, agent […]

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Friday Footnotes: A (Tax) God Among Men; A CPA Review-sary; CFO Gets Probed | 6.28.19

Ed. note: Hey look, Footnotes is back! Y’all old-timers may recall Footnotes as a wrap-up of industry news too boring or too esoteric to deserve its own post, but relevant none-the-less. In our ever-present desire to make sure you know the happenings of the profession despite your perpetual indifference, we’ve brought it back. Spot a […]

Accountant In College Admissions Scandal Will Find Out In October When He’ll Get Admission to Prison

As expected, Steven Masera, the former accountant of the bogus nonprofit and college consulting company led by Rick Singer, pleaded guilty to one count of conspiracy to commit racketeering today in Boston federal court for his role in the nation’s largest college admissions bribery scandal, USA Today reported. Masera, 69, is scheduled to find out […]

Accountants Behaving Badly: Update on Ex-Wife Basher, Bank Fraud Guilty Plea, Sexual Assault

Let’s see who in the accounting profession got into trouble with the law over the past week or so. Asian accountant, 51, who smashed his ex-wife’s head against a car and called her a ‘bacon basher’ after she began dating a white man is ordered to pay her £150 compensation [Daily Mail] Here’s an update […]

Accountants Behaving Badly: X Factor Winner’s Ex-Accountant Banned, Drunk Driving, Theft

Yes, there actually are accountants who behave badly who don’t work at KPMG U.S. or Deloitte U.K.: X Factor star’s accountant is banned from his profession [Essex Echo] Here’s an update to an article Adrienne wrote earlier this year: A south Essex accountant who defrauded X Factor winner James Arthur of almost £600,000 has been […]

AICPA Has Finally Snagged the .CPA Domain Out From Under Untrustworthy Car Park Attendants

In a deal years in the making, the AICPA announced this week it has finally convinced ICANN to let them manage the coveted .cpa domain. Just in time, too, lest it get snapped up by the Canadian Psychiatric Association or Cut and Paste Artists. Back in 2015, AICPA President, CEO, and Mercy main Barry Melancon […]

Accountants Behaving Badly: Lots of Theft, Ponzi Scheme, Tax Evasion

Here’s a roundup of some bad stuff accountants did or were accused of doing over the past week or so. Auto shop accountant charged with stealing over $175K from employer [Chicago Sun-Times] Rungnapa Correia is accused of stealing more than $175,000 from a Bensenville, IL, auto repair shop she used to work at as an […]

Accountants Behaving Badly: Fun with Fridge Magnets, College Admissions Scam, That’s No Man, Baby

Here’s a roundup of some of the very bad things accountants have done over the past week or two. Nxivm accountant spelled out dirty messages with colorful fridge magnets [New York Post] The racketeering and sex trafficking trial of creepy old guy Keith Raniere, the leader of the sex cult Nxivm, is currently going on […]

Crowe Accountant Jacob Sandy Died of Apparent Drowning During Kayaking Trip

Sad news to report out of Indiana, as the body of 23-year-old accountant Jacob Sandy, who was last seen kayaking on May 18, was found along the Lake Michigan shoreline on May 29. The official cause of death is pending but is believed to be accidental drowning, the Indiana Department of Natural Resources said in […]

TIL: There’s an Accounting Hall of Fame and It’s Got Some Familiar Names Along with Some Unfamiliar Ones

Browsing Reddit the other day for interesting accounting topics as one does when one has written nearly 3,000 posts over a span of 10 years on the subject, I came across this. I have to say, it’s not every day I find some dusty old corner of the industry that’s new even to me but […]

Accountants Behaving Badly: Beating Up Ex-Wife, Tax Crimes, Stealing Lots of Money

Spend some time this Memorial Day remembering those who died serving our country and reading about how awful some people in your profession really are. Asian accountant smashed ex-wife’s head against a car outside David Lloyd centre and called her a ‘bacon basher’ after she began dating a white man who worked at their lettings […]

Layoff Watch ’19: Accountants Said to Be Among Casualties In Ford Bloodbath

There was some big news coming out of Dearborn, MI, yesterday, as Ford Motor Co. said by August it will have given 7,000 white-collar workers pink slips worldwide, a 10% reduction in its global salaried workforce, as part of a restructuring plan to reduce bureaucracy and increase revenue. And accountants are reportedly among those losing […]

Accountants Behaving Badly: Busted with Meth, Stealing From Clients, Bank Fraud

A look at the best of the worst accountant malfeasance around the globe over the past week or so. British accountant, 47, faces the death penalty in the Philippines ‘after being caught with meth in a drugs raid’ [Daily Mail] Philip Joseph was in a flat with two locals when police burst through the door […]

Layoff Watch ’19: United Airlines Is Axing 100 Accounting Jobs in Houston

Not-so-good news today from the Associated Press: United Airlines says it will cut about 100 accounting jobs in Houston in July and shift the work to a contractor. The airline reported the layoffs in a letter this week to the Texas Workforce Commission. It did not identify the contractor that will handle accounting of revenue […]

Accountants Behaving Badly: Murder, Webcam Models, Defrauding Celebrities

It was a bad week for accountants from the U.K. with the first name of Andrew. AFC Fylde accountant blew £240,000 on sex, drink and drugs [BBC News] A semi-professional socc … I mean, football team in England nearly went belly-up because its finance director, Andrew Barnbrook, stole thousands of pounds from the team to […]

Bad MLB Pitcher-Turned-Bad Accountant Fesses Up to Stealing $145,000 From Employer

The Minnesota Star Tribune has an update on Ben Hendrickson, the former Milwaukee Brewers pitcher whose post-baseball accounting career took a dubious turn while employed by Floors Northwest in Fridley, MN. A Twin Cities man who briefly pitched in the Twins organization and had two short stints as a Major Leaguer has pleaded guilty after […]

Winners v. Losers This Week: Dick Pics, Grant Thornton’s Heyday, Auditors F*cked As Always

Back in the day we used to end the week with a “Quote of the Week,” but that shit gets boring fast, so instead I got the bright idea to do a Winners vs Losers recap. You should be able to figure out how this works as it isn’t rocket science but just in case: […]

Accountants Behaving Badly: Strangling Wife, Stealing Money From a Band, Shopping Spree on Company’s Dime

A look at the best of the worst accountant malfeasance around the globe over the past month or so. CA throttles wife to death, tries to pass it off as suicide, arrested [Times of India] Here is a disturbing story out of India: Jaiveer Singh, a 52-year-old chartered accountant, was arrested on May 1 for allegedly […]

CEO boy

Someone Break It to ‘UK’s Youngest Accountant’ That Accounting Is a Sh*tty Way to Become a Millionaire

Guys, allow me to introduce you to the UK’s “youngest accountant.” He’s making the rounds in the rags across the pond, so we figured we’d give him his 15 minutes of fame here in the good ole U.S. of A as well because we’re just generous like that. Ranveer Singh Sandhu is a 15-year-old “entrepreneur” […]

Accounting Class Actions Are Once Again a Billion-Dollar Business

Well, looky here. The total value of accounting securities class-action settlements in 2018 reached the second highest total in the past decade, according to a new analysis by Cornerstone Research. The report found that while the number of accounting case settlements declined to 41 in 2018 from 49 in the previous year, total settlement value […]

Dorky Accountant Robbed His Employer to Buy Hookers and Blow Because Some Dude at the Office Made Fun of Him

Y’all ready to meet a real bad ass? You sure? I’m not sure you can take this. Darren Carvill, 38, is headed to jail after a “weekend of madness” which included hookers and blow funded by approximately £170,000 ($220,000 USD) he stole from his employer, a car servicing company. The Sun reports: A source revealed: […]

Excited children

Hey Y’all, Let’s Get Salty About These 2018 Elijah Watt Sells Award Winners

Whelp it’s that time of year again, the time when we recognize the efforts of an elite handful of CPA exam candidates whose performance on one of the toughest professional examinations out there ranks the best of the best. The AICPA handed out 110 Elijah Watt Sells Awards for 2018 last week, and as is […]

auditor fraud pwc colonial fdic

Accounting Fraud Watch: Jumio Founder, Former College Controller, Ex-Roadrunner Execs

We arrived late to a couple accounting fraud settlement parties thrown by the SEC recently. All the Lagunitas and buffalo chicken dip were gone, and we were stuck drinking Busch Light and munching on carrot sticks. But we’ll still recap what happened at these shindigs anyway. Silicon Valley startup Jumio’s ex-CEO settles SEC fraud charges […]

Judgement

Accountants of Reddit Take Instagrammer to Karma Court Over Meme Theft

Inb4 one of y’all thinks to comment “geez, Adrienne, slow news day?” let me remind you that we write about accounting; every day is a slow news day. So unless one of y’all plan to embezzle something, let it go, that comment doesn’t hurt me. In the last year or so, /r/accounting has made the […]

Wisconsin CPA Who Fatally Struck Illinois State Trooper with His Car Pleads Not Guilty to Reckless Homicide

Scott Larsen appeared in a Skokie, Ill. courtroom on March 11, where the Wisconsin accountant pleaded not guilty to felony reckless homicide charges in the January death of Illinois State Trooper Christopher Lambert. According to a Chicago Tribune report, Larsen, 61, also pleaded not guilty to violating Scott’s Law, which increases potential penalties for motorists […]

Zaza Pachulia’s Ex-Accountant Is Going to Jail But Not Until After April 30 Because Busy Season

You know it’s tax season when an accountant who was sentenced to 30 months in federal prison for identity theft is just too busy to go to jail right now. Such is the case for Randy Usow of Mequon, Wis., who agreed to plead guilty to one count of theft of government property and one […]

Brother of Beloved Chicago Meteorologist Tom Skilling Is No Longer In Federal Custody

To me, WGN-TV in Chicago is synonymous with three things: the Chicago Cubs (sadly, only for one more year), Bozo the Clown, and Tom Skilling. For more than three decades, Skilling has been chief meteorologist at WGN, and he celebrated his 40th year with the station last August. While other meteorologists in Chicago get three- […]

Indiana Tax Preparer Fires Lesbian Client Because Eww Lesbians or Something

An Indiana tax preparer is in the national news this week after refusing service to a long-time client once she discovered the client was — gasp! — a lesbian. Bailey Brazzel has been using Nancy Fivecoate of Carter Tax Service in Russiaville, Indiana for five years but got a nasty surprise when she tried to […]

Wisconsin Accountant Charged with Reckless Homicide in the Death of Illinois State Trooper

If you live in the Chicago area like I do, you’ve by now heard or read about the death of Illinois State Trooper Christopher Lambert, who was struck by a vehicle on an Illinois tollway on Jan. 12 after he got out of his patrol car to assist drivers involved in an accident. Well, we […]

James Arthur

Crappy Gambler Who Also Happened to Be an Accountant Jailed for Stealing From X Factor Winner

Not to show my ignint ‘Murican here but I have to admit I don’t know dick about X Factor. I think those one dudes were on there, you know, the ones who looked like skinny, middle-aged lesbians led by a bootleg Mick Jagger. To be fair, I can’t name an American Idol contestant since the […]

Carmine Di Sibio

Hey, So We Were Totally Right About That Carmine Di Sibio Thing

Back when Mark Weinberger announced his pending retirement from EY late last year, the tipster who provided us that information included another tidbit: that Carmine Di Sibio would take his place. Of course, spokespeeps at EY would not confirm that part, but we felt comfortable enough with their nervousness over us having that info that we […]

you almost did the thing

Welcome to the First-Ever (and Maybe Last-Ever) Going Concern Awards

Since this website is aimed at the coveted 18-34 age demographic (don’t worry if you’re not in it, I got booted from that box a few years ago myself, pass the back pain pills please), y’all should be more than familiar with getting trophies for doing absolutely nothing if the 60-year-olds who gave them to […]

Tinfoil hat guy with tinfoil cat

The AICPA Has Gone Full Doobie-Smoking, Conspiracy Theorist Wackjob

As some of you may know, I love a good conspiracy. I love getting lost in bizarre corners of YouTube populated with bad Movie Maker “documentaries” about government experiments gone awry, celebrity cloning programs, and CIA mind control. I draw the line at lizard people; lizard people are just stupid. Obviously I realize most of these are […]

Former PCAOB Chief Auditor Martin Baumann Backs Out of IAASB Gig

Last month, we reported that Martin Baumann, the former chief auditor and director of professional standards at the Public Company Accounting Oversight Board, was going to be the next chair of the International Auditing and Assurance Standards Board. But due to “unforeseen personal circumstances,” he’s decided not to take the job. In a statement, Baumann […]

Retired Accountant Among Those Slain in Pittsburgh Synagogue Massacre

Melvin Wax, an 88-year-old retired accountant, was one of 11 people killed when a gunman who often posted anti-Semitic slurs online opened fire during worship services at the Tree of Life synagogue in Pittsburgh’s Squirrel Hill neighborhood on Oct. 27. Six other people, including four police officers, were wounded in the attack. Robert Bowers, 46, […]

Barbed Wire Jail

IRS Scammer Ordered to Pay $9 Million in Restitution For Being Scummiest of the Scamming Scumbags

Given that this is a website written for accounting professionals and not, say, confused grandmas who think Steam cards are a valid form of payment for debts to the U.S. government, we rarely cover the topic of IRS phone scams. We assume, perhaps naively, that y’all are smarter than that and don’t need reminding. The […]

Scott Vetere

(UPDATE) Married Ex-KPMG Recruiter and Gym Coach Busted For Banging Young Gymnast in a Car

Whew, you guys, this one is … awkward. Scott Vetere is a 39-year-old father of three from Michigan who serves as assistant coach for the University of Michigan women’s gymnastics team, or at least he did until he resigned Oct. 15. His resignation came after Vetere was caught getting it on with an 18-year-old female […]