HK regulator launches legal proceedings against Ernst & Young Hong Kong's securities regulator said on Monday it had launched legal proceedings against Ernst & Young for failing to produce accounting records related to a Chinese company as specified, the latest auditor to run into trouble over a Chinese client. Ernst & Young claimed it did not have the relevant records on Standard Water Ltd, which were held in China by its joint venture partner, Ernst & Young Hua Ming, the SFC said in a statement, adding the auditor then said the documents could not be produced due to restrictions under Chinese law. "Given Ernst & Young was the reporting accountant and EY Hua Ming was Ernst & Young's agent, the failure to produce these records to the relevant mainland authority on the SFC's request is a matter of serious concern," it said. [Reuters]
Life in the Fast Lane: Tax Controversies of the Suddenly Wealthy and Globally Famous [Tax Notes]
RIP Daniel Pirron — Deloittes Mourns the Loss of a Partner — And We Should Too [Re:Balance]
GOP tax platform stirs debate on mortgage interest deduction’s future [The Hill]
Kidney Thrown In Trash, University of Toledo Medical Center Suspends Transplant Program "Human error rendered the kidney unusable," University of Toledo Medical Center spokesman Toby Klinger said Saturday, but he declined to give more details, citing the hospital's investigation into what happened and its respect for the privacy of the patients involved. [AP]
Food Lion Loses Forced Combination Fight and Gains Penalties in North Carolina Court of Appeals For the SALTy folks out there. [Tax Trials]
Accountant Cut From Miami Dolphins Roster [CC]
Tax Planks in 2012 Republican Platform [TaxProf]
FUCK YEAH! IT’S THE FIRST DAY OF SCHOOL! [Deadspin]
