News

Here Are the Accounting Firms That Received PPP Loans Because We Know You Want to Know

As you may have seen by now, the U.S. government has recently released data on which companies received PPP funds, and anyone with more than $150,000 from Uncle Sam in their pocket had some ’splainin to do had they also laid off staff en masse. We figured a few accounting firms would be on the […]

Friday Footnotes: Still Working on Diversity; What’s the Watchdog Up To; Record Fine for Deloitte? | 7.10.20

Strategies for CPAs to encourage positive changes in diversity [Journal of Accountancy] The racial injustice taking place throughout the United States has hit home hard for members of the AICPA National Commission on Diversity and Inclusion, who spend much of their time developing strategies and resources for improving the diversity of the accounting profession. Commission […]

Friday Footnotes: LOL, EY; ‘That’ KPMG Girl; SEC Enforcement Slowdown | 6.26.20

EY failed to ask for Wirecard bank statements for 3 years [Financial Times] EY failed for more than three years to request crucial account information from a Singapore bank where Wirecard claimed it had up to €1bn in cash — a routine audit procedure that could have uncovered the vast fraud at the German payments […]

Accountants Behaving Badly: Ex-KPMG Auditor Arrested, Embezzler Gets 5 Years, Fraudster Gets 2 Years

Plus, Australian accountant caught up in cheese scandal, and an accountant in Fiji accused of defrauding a client pleads not guilty. Sipho Malaba arrested in connection with the R2,7 billion VBS Bank robbery [Pindula News] Former KPMG South Africa auditor Sipho Malaba was one of seven people who were arrested on June 17 for their […]

Friday Footnotes: Robots Are Coming; The Gayest Big 4 Firm; How to Fire People | 6.19.20

EY faces an existential threat [Reaction] Let’s play guess which firm: “Auditing is little more than an entry ticket to the boardroom. Inevitably, there are many conflicts of interest, as one firm is brought in to investigate the failures of another, but one of the four seems particularly accident prone.” How to deliver the news […]

Accountants Behaving Badly: KPMGer’s Racist Facebook Rant, Wife Killer Charged Again, Thankful For the Rona

Plus, serial embezzler sentenced to nearly three years in prison, and United Arab Emirates accountant jailed for money laundering. KPMG distances itself from manager’s ‘racist’ Facebook rant [Trinidad Express] Sachin Boodram, an audit manager at KPMG in Trinidad and Tobago, probably should’ve just stuck to posting selfies, inspirational quotes, and recipes on his Facebook page. […]

Friday Footnotes: Oh Not Again, KPMG; Deloitte Goes Viral With TP; PwC Is ‘Watching’ Staff | 6.12.20

KPMG Gets Reprimand From U.K. Regulator Over Reserves Audits [Bloomberg] The U.K.’s accounting watchdog reprimanded KPMG after the firm admitted shortcomings in three years of work for a client, which had to restate its distributable reserves twice. The Financial Reporting Council said the accounting firm admitted problems in its reserves audits of Foresight 4 VCT […]

Look Out, Australia, You Have a Wild Accountant With an Aggressive Foot Fetish on the Loose

In my many, MANY years on this website, I’ve somehow been tasked with the job of writing up every perverted accountant who comes across our collective desk. I’m not entirely sure why this is, I think it started as a joke many years ago as my former colleague knew I loved to binge on old […]

Accountants Behaving Badly: Insider Trader Settles with SEC, Embezzler Gets Jail Time, Maritime Thief

Plus, accountant’s tax fraud conviction upheld in court, and a Canadian accountant is banned by financial regulator. SEC charges biotechnology company CPA with insider trading [SEC] Jana Faith Kiena, CPA, a former contract accountant in the revenue recognition group at biotech company Illumina, will pay about $374,000 to settle insider trading charges for using confidential […]

If the Economy Gets Any Worse You Can Always Find a Promising Career In Snitching

Browsing our stats on any given day, I can’t help but notice how many people arrive at this website by Googling “careers after public accounting” or some variation of such. “Fuck public accounting” is also a popular one, I can’t possibly imagine why. Given the current economic environment, we’ve seen an uptick in searches of […]

CPA Canada Is Like Your Grandma Who Sincerely Believes Nigerian Royalty Wants to Give Her Money

You know, I’m kinda starting to feel bad. We rarely write about CPA Canada and when we do, it’s because of some epic technological snafu that has disrupted their exam process or, as is the case with the news I’m sharing with you today, otherwise adversely impacted its member base. I don’t think there’s ever […]

Friday Footnotes: Deloitte’s Gift to ID Thieves; FU China; EBITACV-19? | 5.29.20

NASBA proposes changes in CPA requirements [Accounting Today] The National Association of State Boards of Accountancy has proposed a set of revisions to the Uniform Accountancy Act Model Rules for CPAs, including the addition of more course content on data analytics and digital acumen, and the ability to take courses outside a school of business. […]

Accountants Behaving Badly: Boozin’ It Up, Embezzling Old Folks’ Home, Fake Robbery In India

Plus, two bookkeepers—one for a church and the other for an accounting firm—are busted for stealing money. Trainee accountant stole £60,000 from boss to fund six months of hard drinking [Metro] Jake Currie used his job as a trainee accountant to fake invoices and frittered away £40,000 of the money he stole on getting wasted […]

Friday Footnotes: KPMGers Happily Take Slashed Pay; New CPA Model Still a Go; No Rona Accounting | 5.22.20

AICPA Council supports advancement of new CPA licensure model [Journal of Accountancy] An effort to transform the CPA licensure model took a step forward Wednesday when the AICPA governing Council voted to support its advancement during its virtual spring meeting. Council voted to support the CPA Evolution initiative, which is being undertaken by the AICPA […]

Is Trump’s Latest Executive Order Another Sign of a PCAOB-less Future?

On May 19, President Trump issued Executive Order on Regulatory Relief to Support Economic Recovery, directing federal agencies to address coronavirus-related economic emergency “by rescinding, modifying, waiving, or providing exemptions from regulations and other requirements that may inhibit economic recovery, consistent with applicable law and with protection of the public health and safety, with national […]

Accountants Behaving Badly: Whitley Penn and 3 CPAs Fined, Misappropriation and Mail Fraud, Gambling Away Client Money

PCAOB fined Whitley Penn $200,000, three CPAs for really crappy auditing Back in March, the PCAOB disciplined top 45 firm Whitley Penn and three of its partners for ignoring the fact that there are PCAOB rules in place for public issuer audits. With all the coronavirus hysteria that has been going on, we failed to […]

‘Reality Star’ Charged With Fraud Says the Government Totes Didn’t Make It Clear That PPP Loans Weren’t Meant for Cars and Jewelry

A mere two weeks ago we saw the first of what promises to be many, many PPP loan fraud charges when a pair of fine, upstanding gents from Rhode Island were nabbed by the Department of Justice. David A. Staveley, aka Kurt D. Sanborn, 52, of Andover, MA, and David Butziger, 51, of Warwick, RI, […]

Friday Footnotes: KPMG’s Open Plan; Accountants’ Latest Worry; Vacation Time? | 5.15.20

KPMG LLP Introduces Dynamic, Risk-Based, Policy And Technical Framework To Help Organizations Safely Reopen Their Workplaces [PR Newswire] “Reopening organizations and bringing employees back on-site presents technical challenges complicated by the fluidity of the situation, public policy responses, and different challenges faced by businesses, their suppliers and their individual employees,” said Atif Zaim, Customer and […]

Friday Footnotes: EY Orders Mandatory Leave; PwC’s New Cootie App; July 15? | 5.8.20

EY orders consultants to take time off as work slows [Financial Times] EY has ordered consultants whose work has dried up during the pandemic to take the last week of May as annual leave as it attempts to ease a “holiday backlog”. The Big Four accounting firm sent an internal email on Thursday saying consultants […]

Friday Footnotes: About Blockchain; GDPR; Tracking Randoms? | 5.1.20

What Should Your CPA (Really) Know About Blockchain? [Forbes] Taxation, financial reporting and disclosure, and helping to instill confidence, via audits, in valuations of cryptoassets, are at least partially dependent on accountants being able to handle the workload associated with blockchain. Simultaneously there has been debate about what blockchain, and what blockchain as it connects […]

Accountants Behaving Badly: PCAOB Fines CPA, Scammer CPA Pleads Guilty, CPA’s License Suspended

Plus, an accountant from India is accused of spewing hatred, and a Michigan tax preparer allegedly stole more than $400,000 from clients. PCAOB fines CPA firm owner for not playing by the rules [PCAOB] Rizwan Ahmed, owner of Ahmed & Associates CPA P.C. in New York, was fined $10,000 by the PCAOB on April 21 […]

Friday Footnotes: Indirect Rona Impacts; KPMG LOL; Hey, How Ya Holding Up? | 4.24.20

The indirect impacts of COVID-19 on CPA firms [Journal of Accountancy] In this megapost from the JofA, CPAs in all areas of practice across the profession are offered some “what-ifs” related to COVID-19 they may not have considered. Recommended reading for firm leaders. IRS proposes rules for unrelated business income for tax-exempt groups [Accounting Today] […]

[UPDATED] Prometric Extends Site Closures For a Third Time, But There’s a Bright Side For Future CPAs

Ed. note: Updated with 4/23/2020 NASBA statement below So I have a little news on Prometric closures to share with you all, thanks to a tipster who obsessively refreshes the Prometric COVID-19 page each morning in hopes of an update. As we reported on April 15, Prometric announced just days before their planned April 16 […]

Friday Footnotes: EY Takes the L; MNP Hacked; Deloitte’s Super Bot | 4.17.20

EY Must Pay $10.8 Million to Auditor Who Blew Whistle on Refiner [Bloomberg] Ernst & Young must pay $10.8 million to an auditor who blew the whistle on wrongdoing at a Dubai gold refiner in another black eye for the U.K. accounting industry. Former EY partner Amjad Rihan had told the court that the accounting firm […]

Oh Look, There Were More Accounting Class Actions Filed In 2019 Than Ever Before

The big news that came out of last year’s Cornerstone Research report on securities class-action lawsuits involving accounting allegations was that total settlement value reached nearly $4.5 billion in 2018, the second highest total in the past decade. The big news out of this year’s report is that there were a record number of accounting-related […]

tax-reform-cpa-skeptical-cat-crop

Friday Footnotes: CPAs To the Rona Rescue; ¡Escandalo!; Someone Think of the Students | 4.10.20

COVID-19 Turns CPAs into Emergency Workers [CPA Trendlines] Donny Shimamoto writes: “The impact of COVID-19 on many of our lives will be told for years or decades to come. Through social media, I saw a lot of accountants (because I’m friends with so many of them) express concern for their clients and communities as well. […]

Pay Cut Watch ’20: It’s Not Good Friday at Moss Adams

Normally we start these posts with “and the hits keep coming” or some such thing but we’re rapidly running out of sassy intros so let’s just cut the crap and get straight to the news. We’re hearing from multiple sources this afternoon that Moss Adams has joined the ranks of accounting firms instituting pay cuts […]

accounting-news-cat-trust

Friday Footnotes: Deloitte Tattled On; PwC Loves Forced Arbitration; Grant Thornton’s Big Choice | 4.3.20

Ernst & Young Says It First Found Accounting Issues at Luckin [Wall Street Journal] EY said it uncovered the problems at China’s Luckin Coffee Inc., which hammered the stock price of the upstart challenger to Starbucks Corp. in the country and cast doubt over a large part of its sales last year. Luckin’s Nasdaq-listed shares […]

Friday Footnotes: EY Takes a Break; KPMG’s Cootie Problem; A New King In Town | 3.27.20

EY Israel puts staff on unpaid leave [Globes] With the spread of the [coronavirus] and the new orders in the matter issued by the Prime Minister’s Office and the Ministry of Health, management has decided on a number of additional steps, including a substantial cut in compensation for all of the firm’s partners and putting […]

pwc legal us

Death of PwC Indonesia Staffer Marks Possible First Big 4 Coronavirus Casualty

Sad news out of Indonesia, as a member of the PwC family has seemingly lost his battle with coronavirus. This is the first suspected COVID-19-related death we are aware of involving an employee of a Big 4 firm. PwC Indonesia Territory Senior Partner Irhoan Tanudiredja released a statement in which the staffer is not named; […]

Tax Preparers Behaving Badly: Getting Barred, Facing Jail Sentence, Doin’ Time

Usually this column is reserved for accountants doing bad things. But this week we are focusing on the worst of the worst tax preparers. Federal court permanently bars former Liberty Tax Service owners from tax preparation business [Justice Department] Steven Doletzky was permanently barred by a federal court in Tampa, FL, from operating a tax […]

Friday Footnotes: KPMG, PwC Have a Rep Problem; CPAs Start Trippin; Eff You, Pay Me | 3.20.20

CPA business executives worried about coronavirus [Accounting Today] CPAs who are also business executives are concerned about the potential global fallout from the coronavirus outbreak, although their outlook on the U.S. economy has risen in recent months, according to a new survey by the American Institute of CPAs. CPAs gather at State Capitol [Edmond Sun] […]

Accountants Behaving Badly: Ex-BDO Puerto Rico MP Charged, Sick Demands, Stealing $365K

Plus, chartered accountant jailed after stealing £86,000, and bankrupt New Zealand accountant sentenced for swindling horse trainers. Ex-Puerto Rico officials charged in corruption probe [Bloomberg] Fernando Scherrer-Caillet, ex-managing partner of BDO Puerto Rico, was one of six people indicted by the U.S. Justice Department on March 11 over allegations of theft, money laundering and wire […]

COVID-19 Is In EY NYC Offices

From the tipline (thanks, tipster!) we have this email that went out to EY staff this afternoon. Last we heard there was a KPMG employee affected in Northern Virginia who visited EY offices but this is new. Dear all Tri-state EY people, There has been a confirmed case of coronavirus (COVID-19) with an EY employee […]

Friday Footnotes: This CPA Just Won the Lotto, Literally; Corona and Recruiting; Ballin’ | 3.13.20

Coronavirus forces EY to go virtual with some student hiring [Financial News] EY, one of the UK’s Big Four accountancy firms, has gone virtual with parts of its student recruitment process in response to the spread of coronavirus. The group, which hired 918 graduates and apprentices in 2019, has switched its in-person EY Experience Days […]

EY UK Selects Old White Guy to Succeed Another Old White Guy As MP

The Financial Times is reporting today that former head of audit Hywel Ball is EY UK’s new managing partner “despite widespread speculation that it would be the first of the Big Four accounting firms to appoint a female leader.” That’ll teach y’all to speculate. Ball, a 35-year veteran of EY, beat out chief operating officer […]

Accountants Behaving Badly: Ex-UAW President Charged with Embezzlement, Not Guilty Plea In Theft Case, Tax Fraud Sentencing

Plus, an accountant in India was arrested for secretly recording videos of women taking baths, and an Oklahoma City accountant was sentenced to 18 months in jail for embezzling more than $175,000 from her former employer. Former UAW President Gary Jones charged in U.S. corruption probe [Reuters] Former United Auto Workers President Gary Jones, who […]

Friday Footnotes: Dementia Hitting Clients; CPA Exam Fee Break?; A Big 4 Shake-Up | 3.6.20

Nearly Half Of CPA Advisors See Dementia In Some Clients [Financial Advisor] Nearly half of CPA financial planners report seeing a client with dementia for the first time ever in the past year, but only 17% of planners say they have created plans for dealing with client incapacitation, a new report says. The AICPA’s Personal […]

Here’s Everything You Need to Know About How Coronavirus Might Affect CPA Exam Testing

Earlier today Bramwell and I were shooting the shit in Slack and both of us wondered why they haven’t just postponed CPA exam testing altogether until this whole coronavirus thing blows over. I mean, I don’t even want to think about the cooties that live at Prometric during normal times, much less during a global […]

The Coronavirus Panic Is a Perfect Opportunity to Discuss Why We Need Better Work-From-Home Policies

So I’ve been sick lately. I never get sick. In fact, I pride myself on this. I imagine it has something to do with the fact that I spent over a decade of my life in San Francisco being exposed to Lord knows what cooties live in BART seats. I am to not getting sick […]

Friday Footnotes: CPAs Take on Climate Change; Tom Hood Goes Off; Operational Separation | 2.28.20

How Regulators and PwC Fooled Reporters—Again [Pro Market] Francine McKenna is on the war path, as usual. CPAs would be happy to help state government plot a strategy to finance education [Baltimore Sun] In which Maryland Association of CPAs CEO Tom Hood throws down in a letter to the editor: “Our opposition is not reactive […]

Accountants Behaving Badly: Jail Time for Filing False Tax Returns, and BDO Malawi Given Stiff Fine

Plus, accountants in India got into trouble for fraud, duping investors, and forgery, while an accountant in Australia was charged for allegedly defrauding a business out of $200,000. Delaware County business owner sentenced to 4+ years in prison for stealing funds from clients, filing false forms with the IRS [Justice Department] Accountant Myles Hannigan was […]

Friday Footnotes: PwC Runs to Supreme Court; Accounting Firm Hacked; CFO Accused of Fraud Shares His Story | 2.21.20

U.S. House Subcommittee Scrutinizes Accounting Rule Maker [Wall Street Journal] The new chairman of the House Committee on Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets is targeting U.S. accounting rules in a move to increase oversight of a U.S. accounting rule maker, despite a potential battle to enact legislation or alter its […]

The Fortune 100 Best Companies to Work For: Plante Moran #21 (2020)

In the early days of Going Concern, when Caleb and Adrienne were expected to post like eight to 10 articles a day, Caleb used to cover the public accounting firms that made the yearly Fortune 100 Best Companies to Work For rankings. Back then, it was the Big 4 and Plante & Moran, and that […]

Accountants Behaving Badly: Ex-Marks Paneth Partner Going to Prison, Duluth Chamber Thief Faces New Charges, Selling Unregistered Securities

Plus, an ex-IT accountant in Tokyo was arrested for allegedly embezzling more than 10 million yen, and a Portuguese accountant is accused of having aided illegal immigration and falsified documents. Prison sentence for $2M Westchester fraud marks former Stamford CPA’s fall from grace [Westfair Online] Steven L. Henning, a former partner-in-charge of a litigation group […]

Friday Footnotes: PwC Loses; Gamers Rise Up Against the IRS; Another Naughty CPA | 2.14.20

Ed. note: Happy Valentine’s Day, kids! If no one loves you, remember I always will. Sort of. ~AG Botham Jean’s Colleagues Pledge To Combat Workplace Racial Violence [BET] “As chief executives and business leaders, we may not have the power to stop tragedies like what happened to Bo from happening again,” wrote PwC Chairman Tim […]

Grover Norquist Is Unimpressed By Your Airline’s Pre-Flight Seat Belt Demonstration

GGN took to Twitter earlier this evening to air his grievances about being shown how to put on an airplane seat belt. On plane. Steward explaining how to attach and open seat belt.Everyone on this plane drove to the airport.In most of the 57 states it is legally required to wear a seatbelt.Thus since we […]

Accountants Behaving Badly: Golf Club Thievery, Ripping Off Nonprofit, Tax Collector Gets Jail Time

Plus, tax preparers from Louisiana, Mississippi, and New York got into some trouble. Former accountant at Somerby Golf Club in southeast MN charged with stealing $450,000 from business [CBS Minnesota] Gordon Craig Perkins, who was in charge of handling the money, expenses, and bills for Somerby Golf Club in Byron, MN, was charged last week […]

Friday Footnotes: Torturing Detainees With Accounting; Deloitte Loves Foreigners; Another CPA Partnership | 2.7.20

Deloitte Top Participant in H-1B Foreign Worker Program—By Far [Bloomberg Law] Deloitte’s use of skilled foreign workers under the H-1B program, which is largely associated with technology companies, is far greater than any other applicant, according to a Bloomberg Law analysis of fiscal year 2019 Department of Labor data. A total of 57,259 H-1B visa […]

RIP Bernard Ebbers, Former WorldCom CEO and Convicted Felon

So, ex-WorldCom CEO Bernie Ebbers died on Sunday at age 78. His death wasn’t a complete shock; I saw recently that he was in ill health and was granted an early release from prison after serving 13 years of his 25-year sentence for securities fraud, conspiracy, and filing false reports with regulators. My mom used […]

Accountants Behaving Badly: Screwing Over the Mennonites and Amish, Exploiting Elderly Clients, Guilty of Conspiracy

Plus, an Indiana accountant gets jail time for wire fraud, and an Arkansas church accountant is in police custody for allegedly stealing more than $70,000. Berks County accountant allegedly victimizes the Mennonite and Amish communities in massive Ponzi scheme [Justice Department] Philip Riehl was charged on Jan. 31 with conspiracy, securities fraud, and wire fraud, […]

Friday Footnotes: Where the CPAs?; Audit Relevance; Here Come the ‘Hackers’ | 1.31.2020

As Tax Season Begins, Hackers Target Tax Pros and CPAs [CPA Practice Advisor] It’s not from the “mob” or street criminals. These criminals are likely sitting behind a desk, glued to computer monitors, chugging energy drinks and developing the most effective ways to steal today’s version of gold. As you know, this bounty is data […]

Partners Should Stop Behaving Like Petulant Children, Say MPs

You know, it’s always interesting when people take a survey as an opportunity to spill their innermost thoughts with candor and honesty. That’s exactly what happened when INSIDE Public Accounting interviewed 70 managing partners to get their thoughts on “the frustrations, challenges, joys and rewards of the top job.” Not surprisingly, the published results were […]

Arthur Andersen & Co.

Accountants Behaving Badly: Andersen Alum Charged with Fraud, Sentencing Postponed In Nxivm Case, Embezzler Jailed

Plus, a Las Vegas tax preparer pleaded guilty to filing bogus returns, and a New Jersey tax preparer pleaded guilty to tax evasion. Naperville man convicted of theft 25 years ago charged again with swindling woman’s estate [Chicago Tribune] Raymond Parcon, who went to federal prison 25 years ago for embezzling more than $1 million […]

Friday Footnotes: PwC and Luanda Leaks; EY Seeks Belonging; Pentagon’s Sloppy Accounting | 1.24.20

PwC under growing scrutiny as scandal engulfs Isabel dos Santos [The Guardian] PwC, the global accounting firm battling to distance itself from a financial scandal engulfing Africa’s richest woman, Isabel dos Santos, was auditing the books of Angola’s state oil company during a period that is now under criminal investigation. Critics say PwC’s work for […]

Accountants Behaving Badly: Jailed Over Child Porn, Andersen Alum Fired By Law Firm, Nursery Thievery

Plus, ex-Las Vegas CPA pleads guilty to bribery, and a bookkeeper is accused of stealing $400,000 from two family businesses. San Rafael accountant, ex-Boy Scouts volunteer gets prison for child porn possession [KPIX] John Blecka, CPA, was sentenced in federal court in San Francisco on Jan. 14 to two years and nine months in prison […]

Friday Footnotes: The Joys of Accounting; Big Data; Empowered! | 1.17.20

‘Friendly Competitors’ Merge To Form New Boutique CPA Firm [The Newtown Bee] Two local companies whose principles all trained at several of the nation’s most prestigious accounting firms — and who always described themselves as “friendly competitors” — recently merged to form a new and expanded boutique enterprise that local individuals, businesses, and nonprofits can […]

cash in pocket

The AICPA Is (Still) Giving Out Free Money For Education, Here’s How to Get Yours

Last year around this time, we gave you a heads up on the AICPA Legacy Scholars program, an AICPA initiative to make it rain on the future rockstars of the profession. Do people still use make it rain these days? Whatever, I’m old. Anyway, they give out cash, and that’s most definitely a good thing. […]

Accountants Behaving Badly: Ex-Senator’s Tax Guy Gets 18 Months, Embezzling $65M From Clients, Swindling Chamber of Commerce

Plus, retired Arkansas accountant pleads guilty to bank fraud, and soon-to-be-jailed Wisconsin accountant used stolen tax refunds to buy a hooker and drugs. Accountant who helped Brian Joyce evade taxes sentenced to 18 months in prison [Boston Globe] John Nardozzi, a CPA from Waltham, MA, who conspired with former Massachusetts senator Brian Joyce to cheat […]

Friday Footnotes: KPMG Gets a Reprieve; PwC’s Crypto Bet; Burned-Out CPA Chills Out | 1.10.20

A Houston CPA felt a slow-burning burnout, so she traded skyscrapers for sled dogs [Houston Chronicle] It was time for Anastasia Gill to leave Houston. As a certified public accountant for two major accounting firms since her late-20s, she felt that creeping, desperate feeling of burnout settling in. “Both were really stressful jobs. I would […]

Accountants Behaving Badly: Too Many Pints, Fraudster Gets 18 Months In Jail, Egypt Tax Authority Chief Arrested

Plus, a couple of tax preparers thought they could get away with defrauding the IRS. They were wrong. Drunk trainee accountant crashed car after Leeds night out [The Yorkshire Post] Archie Scott was banned from driving for 20 months and was sentenced to 12 months of community order with 50 hours unpaid work after he […]

A puppy for no reason

Friday Footnotes: Big 4’s Tech Push; An Audit Fix?; Best Cities For Accountants | 1.3.20

The Best Cities in America For Accountants [Blackline Magazine] Oof this intro graf tho: “Accounting jobs are typically classified as a safe option for those looking to enter an industry that will maintain a steady stream of demand and plenty of opportunities to grow. Right around tax season, everyone is looking for an accountant, and […]

Accountants Behaving Badly: Deloitte Malaysia Partner Fined, Guilty Plea In $1.2M Scam, Jailed for Xmas

Plus, several tax preparers have run afoul of the law. SC fines Deloitte’s partner for non-compliance [The Malaysian Reserve] Huang Khean Yeong, a partner at Deloitte PLT, was fined RM63,000 by the Securities Commission Malaysia’s Audit Oversight Board on Dec. 26 for failing to comply with the international standards on auditing when performing an audit of […]

Friday Footnotes: Which Big School Tops CPA Exam Lists?; PCAOB Goals; Big 4s Say FINE | 12.27.19

Ed. note: Welcome to the final Friday Footnotes of the decade! We hope you enjoy these weekly wrap-ups of news around the profession we found noteworthy. As always, if you have a suggestion for a story you think we should share with the class, give us a shout. Happy New Year! -AG BYU is tops […]

Accountants Behaving Badly: Discrimination at EY U.K., Jail For Cancer Center Embezzler, Client Scammer Gets Prison Time

Plus, ex-accountant for city of Dunbar, WV, gets one year in prison for embezzlement, and former Suzuki accountant faces a seven-year jail sentence for stealing $1.8 million. EY deals partners accused of bullying and discrimination [Financial Times] Current and former staff in the Transaction Advisory Services team at EY U.K. described a culture they claimed […]

Friday Footnotes: Are Accounting Students Prepared?; New CPE Rules; Blockchain Blah Blah Blah | 12.20.19

Regarding CPA Exam Performance and the Accounting Curriculum [The CPA Journal] A letter to the editor from a professor at Iona College reads: “In the end, I think too much emphasis is placed on pass rates and average scores, rather than the simple question of whether the students pass the exam in a reasonable period. […]

Accountants Behaving Badly: Sexually Assaulting Children, Guilty Plea In Visa Fraud Case, A Roudy Theft

Plus, U.K. accountant charged with misleading pensions regulator, and an Isle of Man chartered accountant is banned. Accountant, 57, and his boyfriend, 56, are jailed for total of 30 years after sexually assaulting children as young as 11 while they filmed their sick acts [Daily Mail] Asswipes. Richard Townsend, 57, abused children as young as […]

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. […]

accounting news us chamber embarrassed cat

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 […]