September 23, 2018

So BDO Isn’t That Good at Auditing Either, But Still Better Than Grant Thornton

Now this is just getting funny. And by funny I mean sad.

The PCAOB has released its 2012 inspection report on BDO and the news isn't nearly as bad as it was for Grant Thornton so, well, there's that. Which really isn't much when you think about it but… hey… gotta take what you can get, I suppose.

If you're playing along at home, here are the 2012 inspection report failure rates released so far:

  • Grant Thornton 65%
  • BDO 55%
  • EY 48%
  • PwC 39%
  • KPMG 34%
  • Deloitte 25%

Crowe Horwath and McGladrey are still outstanding.

Congratulations, BDO, for not being the suckiest at audits! Close one, eh?

 

 

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Jeremy Newman Just Wants to Be Clear, We are NOT Declaring Victory Over Banco Espirito…YET

BDO_International.pngAfter throwing an all night rager last week when BDO International Global Coordination skated on the $521M verdict, Jeremy Newman, BDO Boss, wants everybody to chill.

Newman said he had always been confident that BDO International’s arms-length approach would be proved but added: ‘There is still the risk of a further appeal, as well as the appeal by the US firm.’

See? Staying cool. Not out of the woods yet. But when we beat those bastards on appeal, then we are getting down.

Newman stays cool after BDO victory
[Accountancy Age]

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You Know That Guy Who Panhandles on Your Block? He May Be a CPA.

Anybody out there looking to help their fellow CPA, who’s down on his luck?
The Wall St. Journal is reporting that the former BDO Seidman LLP CEO, Denis Field may have to pay back a portion of $180 million that is being sought by prosecutors in the tax shelter case that involves Field and six others.
Natch, everybody has denied wrongdoing. The charges include conspiracy and tax evasion. Good luck with that.

Prosecutors Seek Ex-BDO Seidman CEO, 6 Others To Forfeit $180M
[WSJ]