• SEC warns swaps may evade White House reform – It’s not like they were totally responsible for the crisis. [Reuters]
• Minnesota Ends Tax Reciprocity with Wisconsin – WI can’t pay MN fast enough so IT’S OVER. [Web CPA]
• FDIC May Ask Banks to Prepay Fees – You may have noticed there’s a bit of a problem. So SheBair is probably going to do this but thanks for asking. [WSJ]
• Freddie Names Kari as CFO – You didn’t want that job anyway. [WSJ]
• Wall Street Firms Fined Over Bad IPO Information – $420k. Meh. [AP via NYT]
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Review Comments | 09.08.09
- Caleb Newquist
- September 9, 2009
• Obama’s Advice to Aspiring Politicians: Be Careful on Facebook – This is what some parents were worried about? [Bloomberg]
• Accounting firms – Have maintained their reputation? [FT]
• Madoff feeder fund settles with Massachusetts – $8 mil from a $7.2 billion fund? [Reuters]
• Danger! Jobs most likely to kill you – Instantly. Not after a grueling, tortuous 30+ years, thus accountants are not on the list. [NYDN]
• PCAOB Backs FASB Codification – But if you’re ignoring it, that’s fine too. [Web CPA]
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Review Comments | 08.05.09
- Caleb Newquist
- August 6, 2009
• Who Will Defend R. Allen Stanford? – There’s always…hmmm, anyone? [DealBook]
• Judge Orders Sale of Creation Science Theme Park to Pay Evangelist’s Tax Debts Agnostic judge probably. [TaxProf Blog]
• The alleged grifter who duped corporate giants – The fairer sex, taking it to the man. [Fortune]
• A Battle of Goliaths: Michael Bloomberg and His Gun Control Group Take on the NRA – At least this is a fair match. [Washington Post]
• Huron’s ex-CEO cashed out $8.3 million since last July But it wasn’t about the money. [Greg Burns/Chicago Tribune]
• IRS Commissioner Joins alliantgroup [Press Release]
• Bernard Madoff and the Solo Auditor Red Flag [Ross D. Fuerman]
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Review Comments | 12.02.09
- Caleb Newquist
- December 3, 2009
• Internal auditor faces charges in Satyam scandal – India’s Central Bureau of Investigation (CBI) also claims that have more evidence against PwC. [Accountancy Age]
• Does Sarbox Reduce Restatements? – One study suggests just that, “The study, from research firm Audit Analytics, suggests that companies that have not yet had their auditors review their internal-control reports are more likely to have a restatement than larger companies, even though they claimed to have effective controls.” [CFO]
• Stanford Offshore Investors Suspected of Cheating IRS – We realize this is hard to believe. [Bloomberg]
• Bank of America to Repay $45 Billion in TARP – Drinks are on Ken Lewis. [WSJ]
• SEC Obtains Asset Freeze Against Co-Founder of Canopy Financial in $75 Million Offering Fraud – Not to mention the stolen letterhead: “According to the SEC’s complaint, the fraud came to light when KPMG discovered that Canopy had been claiming that its financial statements for 2007 and 2008 were audited by KPMG. In fact, KPMG had never been retained by Canopy to audit its financial statements and had never opined on the financial condition of the company. KPMG issued a cease-and-desist letter to Canopy demanding that it stop the unauthorized use of KPMG’s name and the audit report purportedly issued by KPMG.” [SEC Press Release]