July 17, 2018

Clients

kpmg china medical

Report: Ambac Was One of the KPMG Clients That Got a Second Peek Thanks to Stolen PCAOB Info

Francine McKenna did some expert sleuthing and reports at MarketWatch that Ambac Financial Group was one of the unnamed issuers in the indictment of former KPMG employees and one former PCAOB inspector. There were enough clues to piece together that “Issuer-2” was Ambac, one of the companies that were allegedly subject to a re-review by […]

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Egad, Pharma Bro Martin Shkreli Was an Insufferable Client

Everyone who works in public accounting experiences a bad client or two. But then again, there are bad clients, and then there are the Martin Shkrelis of the world. It’s really a disservice to the bad clients out there to lump Martin Shkreli in with them. This CNBC report details the testimony of Corey Massella, […]

Irrational Clients – Yours, Mine and Ours

As a serious professional you often come across irrational clients. Behavior that’s obviously wrong makes complete sense to them. Sometimes it’s your own clients who have irrational clients as customers. You need to talk them down off the ledge. Here are a few examples. It’s Not Lying if I Neglect to Tell You Something — […]

Socially Inept Accountant Held Responsible

Here in good ol' US of A, if someone says mean things about you on the internet, you don't call a lawyer to get the offending comment taken down, you threaten them and their entire family with violence! It's the American way. Down Under, things are a bit different. An accountant in Perth sued a […]

Dot VN, Inc. and PLS CPA: A Love Story in One 8-K

Like that miserable couple you know that have been together far too long, here's a, seemingly, dramatic auditor/client interlude, starting with an auditor walking out after years of neglect: On October 13, 2014, the Company was notified by PLS CPA, a Professional Corp. (“PLS”) that the firm resigned as the Company’s independent registered public accounting […]

IRS to Tax Pros: You’re Not Helping

Perhaps you've heard that the IRS is a little shorthanded? You know, that the people they do have are overwhelmed and can't get to the phone as often as they would like? Your suggested work-around is not making things better:      “Each filing season, the e-help desk receives phone calls from taxpayers because their […]

Most CPAs Don’t Get to Send Letters Like This One

Unlike some people, I'll bet Dean Smith sent his tax stuff to his CPA in a timely and orderly fashion.  Coach Smith willed his trust to send a $200 check to each his former players following his passing. #DeanSmith pic.twitter.com/NyiBhU9taQ — Jiimmm Demmpseeeyyy (@ChestPassDemps) March 26, 2015 [via Deadspin]

Let’s All Enjoy This Story of a Rich Guy Who Procrastinated on His Taxes and Missed Out on a $1 Million Refund

Procrastinating clients are the worst. Well, judging by their performance in GCMMBSP, they're actually not; however, I think we can all agree that clients who wait until the last minute to provide you with necessary info deserve nothing less than waterboarding. That's why it's nice to read this Bloomberg article reporting that some CPAs have […]

Marcum Wins and EY Loses the Final Auditor Shuffle of 2013

Accounting Today has shared Audit Analytics data on the Q4 2013 auditor shuffle and of large and national firms, Marcum came out on top with a net gain of five. I'm no mathlete but that's a whole… er… well it's more than EY's -6 net: Big Four firm KPMG and McGladrey followed up with net […]

Accounting Career Conundrums: Is Getting the Boot From the Client a Career Breaker?

There are times in life when we have expertise and wisdom to share. And there other times when we don’t and need to pull in resources to support us. To help out the following worried reader, how about we try out both in this week’s accounting career conundrum?  I'm an S2 at a big4, large-ish […]