News

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 […]

accounting-news cpa dogs

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 […]

accounting news us chamber embarrassed cat

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 […]

tax-reform-cpa-skeptical-cat-crop

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 […]

Ex-MLB Pitcher’s Career as an Accountant Not Going Really Well

A Minnesota man who twice had a cup of coffee in the big leagues as a pitcher with the Milwaukee Brewers was charged last week for allegedly cheating a flooring company out of about $250,000 while working there as an accountant. Ben Hendrickson, 37, of Excelsior, Minn., was charged in Anoka County District Court last […]

WTF? CPA Accused of Stealing Over $93,000 from Girl Scouts, Cancer Center

Through the years, Going Concern has chronicled accountants and finance chiefs getting caught doing really shitty things. But if this accountant is found guilty of the charges levied against her, this has to rank among the shittiest of the shitty. From the Los Angeles Daily News: A certified public accountant charged with embezzling more than […]

hottest accounting jobs

BUSTED: Which NYC Firm’s Former Partner Is Accused of Ripping Off $2 Million From Investors?

A CPA and former partner-in-charge of advisory services at New York City-based Marks Paneth LLP was arrested by federal authorities in Florida on Oct. 8 for allegedly bilking investors out of $2 million through an intellectual property scheme. Steven Henning, Ph.D., 57, was charged with one count of wire fraud in a federal court in […]

#WednesdayWisdom: Money Laundering Is Not a Specialization CPAs Should Pursue

Laundering your blue Oxford dress shirts, blouses, gray trousers, and fleece vests, good. Laundering money, bad. From the Times of San Diego: A San Diego-based certified public accountant was sentenced Tuesday to 21 months in federal prison for his role in an international drug trafficking, gambling and money laundering organization led by former University of […]

UPDATED: PwC Associate Shot and Killed By Off-Duty Dallas Cop Who Walked Into Wrong Apartment

Updated on Sept. 24, 2018: The Dallas police officer who was charged with manslaughter three days after fatally shooting PwC associate Botham Jean in his apartment on Sept. 6 was fired on Monday by Police Chief U. Renee Hall, according to the Dallas Morning News. Amber Guyger has been on administrative leave since the shooting […]

retro computer

The AICPA’s Twitter Totally Got Hacked by Bitcoin Scammers

So, I’m the first to admit I don’t know shit about blockchain, nor do I care. But I do know that public accounting firms are anxious to appear far more tech savvy than lil’ ol’ me and have been wasting a lot of time and effort talking about the transformative powers of blockchain. We’ll include […]

Martin Baumann Found a Job at Another Auditing Standard-Setter With a Five-Letter Acronym

Nearly four months after he left his position of chief auditor and director of professional standards at the Public Company Accounting Oversight Board (PCAOB), Martin Baumann has a new gig: chair of the International Auditing and Assurance Standards Board (IAASB). Baumann, who was appointed to a three-year term that begins on Jan. 1, 2019, replaces […]

Lehman Brothers sign removal

Get Yer Pointin’ Fingers Ready, We’re Looking Back on the Financial Crisis Ten Years Later

I got a notification from Twitter the other day reminding me that it’s been 10 whole years since I joined. Wow, that long? I realized that I’d done it the week the economy started swirling down the drain in earnest back in 2008. Unlike my Twitter anniversary, we can argue all day over the actual […]

Ex-NBA Star Kevin Garnett Believes His Former Accountant Helped Wealth Manager Screw Him Out of $77 Million

During his illustrious 21-year NBA career, Kevin Garnett was a 15-time all-star, named the league’s MVP in 2004, and won a championship with the Boston Celtics in 2008. He also is the Minnesota Timberwolves’ all-time leader in steals. But Garnett doesn’t take too kindly to having $77 million stolen from him. That’s what he is […]

Monopoly beauty contest card

She Didn’t Win Miss America, But Miss Missouri’s Appearance Was a Win for Accountants Everywhere

HEY did y’all know an accounting major appeared on Miss America 2.0 last night? Yeah, I wouldn’t have known either were it not for an astute GC reader excitedly tweeting us the news. Miss Missouri is an accounting major. She automatically has my vote. @going_concern #MissAmerica2019 — Pat Sheridan (@accountingninja) September 10, 2018 Waves HI, […]

Elon Musk smoking a blunt

Tesla’s Chief Accounting Officer Nopes on Up Outta There After Just a Month on the Job

Tesla is having a tough time hanging onto a chief accounting officer, you guys. Dave Morton joined the company in early August after a stint as CFO of Seagate Technology. The day after Morton joined Tesla, CEO Elon Musk tweeted that he was thinking about taking the company private and buying out investors at $420 […]

NBA Player Zaza Pachulia’s Former Accountant Pleads Guilty to Identity Theft, Probably Never Will Have Basketball Clients Again

In dubious accountant news, Randy Usow of Mequon, Wis., has agreed to plead guilty to one count of theft of government property and one count of identity theft after stealing more than $800,000 by submitting fraudulent tax returns in the name of NBA player Zaza Pachulia and his wife, the Milwaukee Journal Sentinel reported. Pachulia, […]

Michael Cohen Pleads Guilty to Five Counts of Tax Evasion; Jury Finds Paul Manafort Guilty of Tax Fraud

We here at Going Concern have always (well, except from May 17, 2018 to July 24, 2018) given you an outlet to comment on the big news of the day. Well, two pretty big news stories broke at the same time earlier this afternoon that do not bode well for our commander-in-chief. First, in a […]

If It Wasn’t for an Accountant, Henry Golding Never Would Have Gotten ‘Crazy Rich Asians’ Gig

So my wife keeps talking about how she wants to go see “Crazy Rich Asians.” Not interested. Rom-coms aren’t my thing, although I did enjoy “My Big Fat Greek Wedding,” to which “Crazy Rich Asians” is being compared. The movie’s leading man, Henry Golding, a former travel host for the BBC, had never acted on […]

A woman punching a man in an argument

CPAs Currently Engaged in a Heated Beef With the AICPA Over the ABV Credential

Good morning and happy Monday, capital market servants. Boy do we have a fun one for you today. It seems a group of CPAs/valuators has taken issue with the AICPA’s plan to allow non-CPAs to earn an Accredited in Business Valuation credential, accusing the AICPA of diluting the value of the ABV brand and doing […]

Exxon Mobil May Have Escaped an SEC Penalty Over Climate-Change Accounting But Not a Class-Action Lawsuit

Earlier this month, we reported that the Securities and Exchange Commission ended its two-year accounting probe into how Exxon Mobil Corp. calculates the value of its assets and whether the oil and gas company failed to alert investors about potential climate-change risks. The SEC decided to take no enforcement action against Exxon Mobil, but investors […]

Cath of Portlandia

We Need to Talk About This Fleece Vest Situation, You Guys

We’re a little late to the party here but a recent WSJ article addressed a critical issue impacting servants of capital markets: fleece vests. Jacob Gallagher writes: The fleece zip-up vest, the capstone of a new corporate uniform, lurks in air-conditioned corporate cubicles across America. It covers the sweating backs of nervous interns ordering supersize […]

Another Former KPMG Employee Gets Into Trouble for Insider Trading

You can add Daniel Senn to the list of current and not-so-current KPMG employees and representatives, such as Scott London, Andrei Postrado, Thomas Avent, and Phil Mickelson (but not his KPMG hat), who have either been accused of, or found guilty of, insider trading. Senn, a Klynveldian auditor from 2007 to 2013, was convicted of […]

Ex-Manafort Accountant Given the Pink Slip After Testifying

We can’t say we’re shocked by this turn of events. From Bloomberg: Paul Manafort’s former accountant was fired from a Virginia firm after she told the court she was aware that Manafort’s tax returns contained false information. Cindy Laporta testified Friday [Aug. 3] in the government’s case against the former Trump campaign chairman, saying she […]

Max Livingstone-Learmonth dressed as bishop at I Move London

Non-Religious Future PwC Partner Credits ‘Divine Intervention’ For Nabbing Purse-Snatcher

The Evening Standard reports that a soon-to-be PwC partner got to play the hero in the midst of a potentially record-breaking relay race in London, all while dressed like a bishop. Forty-year-old Max Livingstone-Learmonth was on his 10km (about 6.2 miles) leg of the I Move London race when he spotted a woman chasing a […]

accountant-marijuana

Florida Accountant Picks Up a Green Thumb in Retirement; Authorities Not Impressed

For those of you hoping to retire one day, do you know how you’ll stay busy once you’re not working? Golf? Traveling? Yes, those sound nice and leisurely. Gardening is another nice hobby, however, be sure you stay current on the marijuana laws in your area, should you decide that’s the kind of greenhouse you […]

tax-reform-cpa-skeptical-cat-crop

Accounting Firm Partners Everywhere Managing Expectations at Home

CPAs’ cats everywhere are all like… It’s been a wild week in the tax world, even if it’s mostly been bluster. Talk of tax cuts has corporate executives, rich people, and sitting U.S. Presidents all hot and bothered. But it probably has a lot of accounting firm partners fantasizing too, not only because they’re dreaming […]

donald trump tax reform

Donald Trump’s Quest to Put H&R Block Out of Business Looking Like a Total Failure

During the presidential campaign, bellowing fast food connoisseur Donald J. Trump said that his tax policy was to “Put H&R Block out of business.” So, how’s that going? Well, last month he said, “We’re going to simplify very greatly the tax code. It’s too complicated. H&R Block probably won’t be too happy,” adding, “Other than […]