August 21, 2018

PKF Hawaii Standing By Their Man Accused of Stealing From Firm

Patrick Oki, who stepped aside as PKF Hawaii's managing partner on Wednesday, pleaded not guilty yesterday to stealing $500k from his firm. Charges include theft, money laundering forgery and whole bunch of other bad stuff.

Despite all that, PKF Hawaii has his back:

KHON2 spoke with Reg Baker, who’s now in charge with two other partners. He says the accusations are a personal matter between Oki and four former partners who turned him in. Baker also believes Oki will be back managing the company.
Just in case things don't quite turn out that way, Baker says, "we’ll explore options with communicating with PKF North America."
 
Why, you may ask, would a firm continue to support a guy who's been accused of ripping them off for half a million clams? 
“Of course, you know, whenever you’ve got a falling out of partners, there’s probably some emotions involved,” Baker said. “I believe that it will all come out in court. I believe that Pat is a good person and he will make sure that the truth is told.” Baker said Oki and the four former partners had been negotiating a settlement so Baker was just as shocked as everybody else at PKF when Oki was arrested.
Okay, then. Some bad blood between partners escalated into a criminal matter. Cooler heads can't always prevail.
 

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Grant Thornton to Close Greensboro, NC Office

We’ve received multiple tips informing us that Grant Thornton’s Greensboro, North Carolina office will be closing in the spring after busy season has ended.

Greensboro has approximately 35 professionals in all three service lines although our sources indicate that many tax professionals were laid off late last year in anticipation of the closure. Greensboro currently functions as a satellite of the Charlotte office which houses the support professionals.

What’s not known at this time is whether the office will become virtual, similar to the setup that Ernst & Young arranged for its Greensboro office other whether it will be an outright closure.

We contacted Grant Thornton for comment and had not heard back from them at the time of this posting.

If you’re familiar with the situation in Greensboro and have more information, get in touch with us. We’ll continue to keep you updated as we learn more.

Dita von Teese’s Accountant Understands Why She Has to Spend $70k on a Dress

Last month we mentioned that while we enjoy her genius, we wouldn’t want to be of Lady Gaga’s accountant. She definitely falls into the “clients that make you want to jump out the window” bucket.

Likewise, if we had our choice of clients, we wouldn’t be chasing down burlesque artists that marry rock stars, in this case, Dita von Teese. Not because we don’t enjoy burlesque artists and the rock stars they love, quite the contrary actually; it’s just seems that the headaches associated with such a client would be more trouble than it would be worth.


Surprisingly, DVT takes money quite seriously and is not as slipshod as you might expect.

I refuse to go to the hair salon and have a $300 hair dye job – I do it myself at home with an $8 dye kit… I’ve always been a saver…I saved at least 15[%] of everything I earned and invested it in mutual funds

Jesus, talk about sensible. However there is this glimmer:

I think nothing of spending $8,000 on a corset for my show. My accountant once said he couldn’t understand how I spent $70,000 on a single dress but then he came to my show and saw how lavish it was and told me afterwards that now he understood.

Those are work related expenses though; count us unimpressed. We’re expecting Gaga-esque negligent wasting of money. Like seriously getting carried away.

I bought [a Jaguar] one night on eBay for $35,000 when I’d had too much champagne.

Yes. That’s the best she can offer. Plus, there’s this:

I pay my [credit card] balances off every month.”

More sensible behavior. Doesn’t sound like she’d be that bad of a client at all. Hell, she probably even keeps all her receipts. L. Gaga’s accountant might consider asking her for some advice.

Dita von Teese: ‘I spent $70,000 on a single dress for my show’ [Telegraph]