Footnotes

Friday Footnotes: Deloitte’s Gift to ID Thieves; FU China; EBITACV-19? | 5.29.20

NASBA proposes changes in CPA requirements [Accounting Today] The National Association of State Boards of Accountancy has proposed a set of revisions to the Uniform Accountancy Act Model Rules for CPAs, including the addition of more course content on data analytics and digital acumen, and the ability to take courses outside a school of business. […]

Friday Footnotes: KPMGers Happily Take Slashed Pay; New CPA Model Still a Go; No Rona Accounting | 5.22.20

AICPA Council supports advancement of new CPA licensure model [Journal of Accountancy] An effort to transform the CPA licensure model took a step forward Wednesday when the AICPA governing Council voted to support its advancement during its virtual spring meeting. Council voted to support the CPA Evolution initiative, which is being undertaken by the AICPA […]

Friday Footnotes: KPMG’s Open Plan; Accountants’ Latest Worry; Vacation Time? | 5.15.20

KPMG LLP Introduces Dynamic, Risk-Based, Policy And Technical Framework To Help Organizations Safely Reopen Their Workplaces [PR Newswire] “Reopening organizations and bringing employees back on-site presents technical challenges complicated by the fluidity of the situation, public policy responses, and different challenges faced by businesses, their suppliers and their individual employees,” said Atif Zaim, Customer and […]

Friday Footnotes: EY Orders Mandatory Leave; PwC’s New Cootie App; July 15? | 5.8.20

EY orders consultants to take time off as work slows [Financial Times] EY has ordered consultants whose work has dried up during the pandemic to take the last week of May as annual leave as it attempts to ease a “holiday backlog”. The Big Four accounting firm sent an internal email on Thursday saying consultants […]

Friday Footnotes: About Blockchain; GDPR; Tracking Randoms? | 5.1.20

What Should Your CPA (Really) Know About Blockchain? [Forbes] Taxation, financial reporting and disclosure, and helping to instill confidence, via audits, in valuations of cryptoassets, are at least partially dependent on accountants being able to handle the workload associated with blockchain. Simultaneously there has been debate about what blockchain, and what blockchain as it connects […]

Friday Footnotes: Indirect Rona Impacts; KPMG LOL; Hey, How Ya Holding Up? | 4.24.20

The indirect impacts of COVID-19 on CPA firms [Journal of Accountancy] In this megapost from the JofA, CPAs in all areas of practice across the profession are offered some “what-ifs” related to COVID-19 they may not have considered. Recommended reading for firm leaders. IRS proposes rules for unrelated business income for tax-exempt groups [Accounting Today] […]

Friday Footnotes: EY Takes the L; MNP Hacked; Deloitte’s Super Bot | 4.17.20

EY Must Pay $10.8 Million to Auditor Who Blew Whistle on Refiner [Bloomberg] Ernst & Young must pay $10.8 million to an auditor who blew the whistle on wrongdoing at a Dubai gold refiner in another black eye for the U.K. accounting industry. Former EY partner Amjad Rihan had told the court that the accounting firm […]

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Friday Footnotes: CPAs To the Rona Rescue; ¡Escandalo!; Someone Think of the Students | 4.10.20

COVID-19 Turns CPAs into Emergency Workers [CPA Trendlines] Donny Shimamoto writes: “The impact of COVID-19 on many of our lives will be told for years or decades to come. Through social media, I saw a lot of accountants (because I’m friends with so many of them) express concern for their clients and communities as well. […]

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Friday Footnotes: Deloitte Tattled On; PwC Loves Forced Arbitration; Grant Thornton’s Big Choice | 4.3.20

Ernst & Young Says It First Found Accounting Issues at Luckin [Wall Street Journal] EY said it uncovered the problems at China’s Luckin Coffee Inc., which hammered the stock price of the upstart challenger to Starbucks Corp. in the country and cast doubt over a large part of its sales last year. Luckin’s Nasdaq-listed shares […]

Friday Footnotes: EY Takes a Break; KPMG’s Cootie Problem; A New King In Town | 3.27.20

EY Israel puts staff on unpaid leave [Globes] With the spread of the [coronavirus] and the new orders in the matter issued by the Prime Minister’s Office and the Ministry of Health, management has decided on a number of additional steps, including a substantial cut in compensation for all of the firm’s partners and putting […]

Friday Footnotes: KPMG, PwC Have a Rep Problem; CPAs Start Trippin; Eff You, Pay Me | 3.20.20

CPA business executives worried about coronavirus [Accounting Today] CPAs who are also business executives are concerned about the potential global fallout from the coronavirus outbreak, although their outlook on the U.S. economy has risen in recent months, according to a new survey by the American Institute of CPAs. CPAs gather at State Capitol [Edmond Sun] […]

Friday Footnotes: This CPA Just Won the Lotto, Literally; Corona and Recruiting; Ballin’ | 3.13.20

Coronavirus forces EY to go virtual with some student hiring [Financial News] EY, one of the UK’s Big Four accountancy firms, has gone virtual with parts of its student recruitment process in response to the spread of coronavirus. The group, which hired 918 graduates and apprentices in 2019, has switched its in-person EY Experience Days […]

Friday Footnotes: Dementia Hitting Clients; CPA Exam Fee Break?; A Big 4 Shake-Up | 3.6.20

Nearly Half Of CPA Advisors See Dementia In Some Clients [Financial Advisor] Nearly half of CPA financial planners report seeing a client with dementia for the first time ever in the past year, but only 17% of planners say they have created plans for dealing with client incapacitation, a new report says. The AICPA’s Personal […]

Friday Footnotes: CPAs Take on Climate Change; Tom Hood Goes Off; Operational Separation | 2.28.20

How Regulators and PwC Fooled Reporters—Again [Pro Market] Francine McKenna is on the war path, as usual. CPAs would be happy to help state government plot a strategy to finance education [Baltimore Sun] In which Maryland Association of CPAs CEO Tom Hood throws down in a letter to the editor: “Our opposition is not reactive […]

Friday Footnotes: PwC Runs to Supreme Court; Accounting Firm Hacked; CFO Accused of Fraud Shares His Story | 2.21.20

U.S. House Subcommittee Scrutinizes Accounting Rule Maker [Wall Street Journal] The new chairman of the House Committee on Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets is targeting U.S. accounting rules in a move to increase oversight of a U.S. accounting rule maker, despite a potential battle to enact legislation or alter its […]

Friday Footnotes: PwC Loses; Gamers Rise Up Against the IRS; Another Naughty CPA | 2.14.20

Ed. note: Happy Valentine’s Day, kids! If no one loves you, remember I always will. Sort of. ~AG Botham Jean’s Colleagues Pledge To Combat Workplace Racial Violence [BET] “As chief executives and business leaders, we may not have the power to stop tragedies like what happened to Bo from happening again,” wrote PwC Chairman Tim […]

Friday Footnotes: Torturing Detainees With Accounting; Deloitte Loves Foreigners; Another CPA Partnership | 2.7.20

Deloitte Top Participant in H-1B Foreign Worker Program—By Far [Bloomberg Law] Deloitte’s use of skilled foreign workers under the H-1B program, which is largely associated with technology companies, is far greater than any other applicant, according to a Bloomberg Law analysis of fiscal year 2019 Department of Labor data. A total of 57,259 H-1B visa […]

Friday Footnotes: Where the CPAs?; Audit Relevance; Here Come the ‘Hackers’ | 1.31.2020

As Tax Season Begins, Hackers Target Tax Pros and CPAs [CPA Practice Advisor] It’s not from the “mob” or street criminals. These criminals are likely sitting behind a desk, glued to computer monitors, chugging energy drinks and developing the most effective ways to steal today’s version of gold. As you know, this bounty is data […]

Friday Footnotes: PwC and Luanda Leaks; EY Seeks Belonging; Pentagon’s Sloppy Accounting | 1.24.20

PwC under growing scrutiny as scandal engulfs Isabel dos Santos [The Guardian] PwC, the global accounting firm battling to distance itself from a financial scandal engulfing Africa’s richest woman, Isabel dos Santos, was auditing the books of Angola’s state oil company during a period that is now under criminal investigation. Critics say PwC’s work for […]

Friday Footnotes: The Joys of Accounting; Big Data; Empowered! | 1.17.20

‘Friendly Competitors’ Merge To Form New Boutique CPA Firm [The Newtown Bee] Two local companies whose principles all trained at several of the nation’s most prestigious accounting firms — and who always described themselves as “friendly competitors” — recently merged to form a new and expanded boutique enterprise that local individuals, businesses, and nonprofits can […]

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Friday Footnotes: Big 4’s Tech Push; An Audit Fix?; Best Cities For Accountants | 1.3.20

The Best Cities in America For Accountants [Blackline Magazine] Oof this intro graf tho: “Accounting jobs are typically classified as a safe option for those looking to enter an industry that will maintain a steady stream of demand and plenty of opportunities to grow. Right around tax season, everyone is looking for an accountant, and […]

Friday Footnotes: Which Big School Tops CPA Exam Lists?; PCAOB Goals; Big 4s Say FINE | 12.27.19

Ed. note: Welcome to the final Friday Footnotes of the decade! We hope you enjoy these weekly wrap-ups of news around the profession we found noteworthy. As always, if you have a suggestion for a story you think we should share with the class, give us a shout. Happy New Year! -AG BYU is tops […]

Friday Footnotes: Are Accounting Students Prepared?; New CPE Rules; Blockchain Blah Blah Blah | 12.20.19

Regarding CPA Exam Performance and the Accounting Curriculum [The CPA Journal] A letter to the editor from a professor at Iona College reads: “In the end, I think too much emphasis is placed on pass rates and average scores, rather than the simple question of whether the students pass the exam in a reasonable period. […]

Friday Footnotes: The CPA Is A-Changin’; Audits Still Suck; CPA.com’s New Partner | 12.13.19

Proposed CPA licensure model emphasizes core plus disciplines [Journal of Accountancy] A newly proposed CPA licensure model developed by the National Association of State Boards of Accountancy (NASBA) and the AICPA is designed to help newly licensed CPAs learn the skills and competencies they will need in the workplace of the future. The draft licensure […]

Friday Footnotes: PwC DC; Microsoft’s KPMG Deal; Do You Even Bitcoin Bro? | 12.6.19

Shh! Companies Are Fixing Accounting Errors Quietly [WSJ] Filed under: things y’all probably already know. BDO USA, LLP NAMES KELLY JOHNSON AS BOARD CHAIR; FOUR PARTNERS ELECTED TO BOARD OF DIRECTORS [BDO] WHY ARE YOU YELLING. PwC will consolidate as many as 1,700 jobs to DC [WTOP] Big professional services and consulting firm PricewaterhouseCoopers has […]

Friday Footnotes: FASB Changing It Up; IRS Now Hiring; KPMG Fights Its Bad Rep | 11.29.19

Ed. note: welcome to a special Black Friday edition of Friday Footnotes. Special because ain’t shit going on so this will be short. We’ll be back to your regularly-scheduled programming come Monday. From me, Bramwell, the silent TPTB and everyone else at the Going Concern team, Happy Thanksgiving! -AG FASB proposes changes aimed at improving […]

Friday Footnotes: Accountants Exposed; EY’s ‘Sham’ Study; A Word About Robots | 11.22.19

Security lapse exposes personal data of 6,500 Singapore accountants [ZDNet] A folder containing personal data of 6,541 accountants in Singapore was “inadvertently” sent to multiple parties, in a security lapse that was uncovered only months after, when it implemented an email protection tool as part of a government-wide deployment. The incident exposed personal details such […]

Friday Footnotes: Subprime Accounting Magic; A Street Fighting Number-Cruncher; FASB Gets Busy | 11.15.19

Calibre CPA Group, Notice of Data Privacy Event [PR Newswire] Clients of Bethesda-based Calibre CPA Group, consider yourselves warned that the haxz0rs may have your personal information. In Hong Kong, an accountant by day becomes street fighter by night [Washington Post] “We have started to realize we need to arm ourselves. We are in a […]

Friday Footnotes: Deloitte Tightens Its Belt; KPMG Kuts; Square Gets Square With the SEC | 11.8.19

Maryland Association of CPAs CEO and Going Concern favorite Tom Hood has been chosen as one of Maryland’s most admired CEOs [Daily Record] Go Tom! Deloitte Private to be cut amid low profit, low growth [Financial Review] Big four consulting firm Deloitte is set to dissolve one of its six business units, Deloitte Private, an […]

Friday Footnotes: Don’t Go Nuts at PwC; Bullied KPMGers’ Fresh Start; Best Firms For the Youths | 11.1.19

KPMG duo who quit amid bullying fallout make senior hires at new firm [Financial News] Two ex-KPMG partners, who set up their own consultancy after leaving the Big Four accounting firm over its handling of complaints of bullying, have lured two former executives from their old employer to the new venture. Maggie Brereton and Ina […]

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Friday Footnotes: Firm Moves; PwC’s Future-Ready Workforce; KPMG Gets Sneaky | 10.25.19

PwC and EY accused of complicity in Thomas Cook collapse [FT] MPs have accused two of the UK’s Big Four accounting groups of being “complicit” in the failure of Thomas Cook, slamming one, the travel group’s former auditor PwC, over an alleged conflict of interest in its pay advice to executives. Cases against EY and […]

Friday Footnotes: Accounting For Robots; KPMG Partners Get Bitten; EY Law Gets Cred | 10.18.19

Art of Accounting: Lessening compression oppression [Accounting Today] A big problem for almost every accounting practice is the tax season workload compression. It is what it is, but it doesn’t have to be. Here are some suggestions on how to pull work out of tax season and push it into November and December to better […]

Friday Footnotes: Yo Dawg I Heard You Like Fraud; PwC’s ‘Hipsturbia’; Busy Season Redux | 10.11.19

Warning Signs about the Future Supply of Accounting Graduates [The CPA Journal] At the ground level, something has gone wrong with student perceptions about the value of an accounting education. It may take a few years for this changed dynamic to show up in economy-wide reports, but that a new dynamic is underway is obvious […]

Friday Footnotes: KPMG Switcheroo; Deloitte’s Gender Pay Problem; Death to The Big 4 Oligopoly | 9.27.19

KPMG switches 820 UK staff from advisory to audit [Financial Times] KPMG has moved 800 staff and about 20 partners from its advisory division into its audit department in preparation for a possible forced break-up. Any consultant who spends more than 10 per cent of their time advising auditors will now sit within the audit […]

Friday Footnotes: Me Too Too; CPA Cred Boosted; Why the F*ck Do Partners Get Paid Bank Despite Failings | 9.20.19

AICPA’s new forensic standard expected to boost CPA credibility on witness stand [Accounting Today] The American Institute of CPAs has a new forensic accounting standard due to take effect at the beginning of next year, and it promises to give CPAs a leg up in terms of their credibility in providing litigation support as expert […]

Friday Footnotes: KPMG Loves the Ladies; A Bad Payday; Deloitte Comes For PwC | 9.13.09

EY analysis: Audit committees increasing their disclosures to shareholders [Compliance Week] Subscriber only content but I’m sure it’s interesting. KPMG has 50% women on board [economia] Uh, good job I guess? Google will pay over $1 billion after French investigation over dodged taxes [The Verge] Google has agreed to pay a nearly $550 million fine […]

Friday Footnotes: Deloitte’s New Dope Deal; PwC BTC; The Robots Are Coming | 9.6.19

How an Agency You’ve Never Heard of Is Leaving the Economy at Risk [Project On Government Oversight] POGO writes a hit piece on the PCAOB. Vic.ai, AI platform for accountants, gets $11.2M Series A funding [Accounting Today] Accelerating the robot takeover. De Blasio proposes ‘robot tax’ to counter job losses from automation [The Hill] Speaking […]

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Friday Footnotes: CPA or Nothing; PwC Snitched?; When the Cloud Goes Down | 8.30.19

PwC accused of sharing confidential information [economia] Watchstone has accused PwC of “inducing breach of contract” and “unlawful means conspiracy” against the Big Four firm. The company claims that secret meetings with PwC, allegedly called for by Slater & Gordon, were arranged to share confidential information. Watchstone alleges that this was for the law firm […]

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Friday Footnotes: Big 4 Affiliates Dinged; Deloitte Finds a New Niche; Furbabies Have a CPA to Thank | 8.23.19

Accounting firm recovers Cryptopia records to help return funds to victims [Yahoo] Cryptopia hired the New Zealand-based arm of accounting firm Grant Thornton to sort out the mess. Today, the firm revealed that it got hold of the only remaining record of the funds held on the crypto exchange, which went into liquidation in May. […]

Friday Footnotes: EY’s Lost Bitcoin Problem; Deloitte Gets Snitched On; Armanino Gets a Mention | 8.16.19

Here’s why Jeffrey Epstein likely paid little in the way of taxes [CNBC] Because rich people are usually smarter than the poors when it comes to that stuff? A Big Four Audit Firm Lost $1 Million In Bitcoin. Victims Are Losing Patience [CoinDesk] The blunder occurred in February, and at the time, the lost bitcoin […]

Friday Footnotes: KPMG Pulls Out; Taxpayers Lose an Advocate; a Deloitte Let Down | 8.9.19

CannTrust says KPMG withdraws audit report [Reuters] Cannabis producer CannTrust Holdings Inc said on Friday its auditor KPMG LLP has withdrawn its report on the company’s financial statements for full-year 2018 and its interim report for the three month period ended March 31. KPMG’s decision was prompted after CannTrust cautioned against relying on its financial […]

Friday Footnotes: Fines, Fines, Fines; Team Deloitte Going For Gold; Party’s Over For One Fraudster | 8.2.19

Is Your Accountant a Wimp? [Entrepreneur] SLANDEROUS. Audit regulator fines PwC Mexico $100,000 for violating independence rules [MW] According to the Public Company Accounting Oversight Board, at least six of its partners had personal financial relationships with Banco Santander Mexico when PwC’s Mexico firm contracted to be the bank’s auditor for FY 2016. KPMG U.K. […]

Friday Footnotes: Cocaine and Hookers; Facebook Slapped By the SEC; PwC on AI | 7.26.19

Geeky accountant who stole £150,000 and blew it on cocaine and hookers told to pay back just £1 [The Sun] Carvill, 38, was jailed for 2½ years after admitting fraud. His sentencing hearing was told he’d been bullied for most of his life and suffers very low self-esteem. Accountants ordered to disclose information on personal […]

Friday Footnotes: FASB Foot-Dragging; Big 4 Babble; One Accountant’s Sweet Escape | 7.19.19

FASB to propose delaying effective dates for 4 major standards [Journal of Accountancy] FASB plans to propose delaying effective dates for four key standards for certain groups of financial statement preparers after a series of votes taken at a board meeting Wednesday. The plan to delay effective dates for certain companies for accounting for leases, […]

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Friday Footnotes: Big 4 Bullying; Auditor Gets Boned; Where My Girls At? | 7.5.19

Ed. note: Friday already? Yay! Here’s what you may have missed from around the Internets. If you’ve got a story to share, give us a shout. Have a wonderful weekend, you little lovelies you. KPMG’s Head of Deal Advisory steps down amid ‘bullying’ storm [Consultancy.uk] KPMG’s UK Head of Deal Advisory has stepped down to […]

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Friday Footnotes: A (Tax) God Among Men; A CPA Review-sary; CFO Gets Probed | 6.28.19

Ed. note: Hey look, Footnotes is back! Y’all old-timers may recall Footnotes as a wrap-up of industry news too boring or too esoteric to deserve its own post, but relevant none-the-less. In our ever-present desire to make sure you know the happenings of the profession despite your perpetual indifference, we’ve brought it back. Spot a […]

Friday Footnotes: Narcissistic Students; Complext Trusts; Perfect Teams | 03.04.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and LAPD lab test results in Open Items. Narcissistic […]

Friday Footnotes: KPMG Belfast; PTIN Fees Lawsuit; Sleep Deprivation | 02.19.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and statements to the Pope in Open Items. KPMG […]

Friday Footnotes: Ikea’s Taxes; CPA Exam Prayers; Where’s That K-1? | 02.12.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest (including a Valentine's Day board) and subscribe to our daily newsletter. Submit questions, career conundrums and busy season love […]

Friday Footnotes: CPA Firms Hiring in Charlotte; BS Leadership Lit; Trump Twitter Insults | 02.05.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and Super Bowl predictions in Open Items. Don't forget […]

Friday Footnotes: Sin Taxes; PwC and Blockchain; Brics and Ticks | 01.29.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and Iowa Caucus predictions in Open Items. Dave Camp […]

Friday Footnotes: Questions for the CFTC; Big 4 Partner to CFO; An Ode to Tax Season | 01.22.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest and subscribe to our daily newsletter. Submit questions, career conundrums and blizzard survival tips in Open Items. Senate committee […]

Friday Footnotes: Time to Invest in Handbags; IRS Wait Times; Lovers and Haters of Nickelback | 01.15.16

Wall Street’s Straight Man in Washington [Bloomberg, Earlier] What’s the better investment: The S&P 500, gold, or an Hermès Birkin bag? [Quartz] More mergers: Dixon Hughes Goodman gets Stegman & Co. Then there's this choice quote from the Midwikis & Granger PC merger with Wagner Eubank & Nichols: "Most of our folks are 50 years […]

Friday Footnotes: Simple Financial Advice; Clinton’s Paid Leave Plan; Lost Accounting Jobs | 01.08.16

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest. Submit questions, career conundrums and Ted Cruz birth certificates in Open Items. Personal finance advice that fits on a […]

Friday Footnotes: Another Andersen?; What Employees Want; Bald(ing) Accountants | 12.11.15

May the footnotes be with you, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook and Pinterest. Submit questions, career conundrums and #AuditorProud moments to Open Items. Jim Peterson's book is out and he […]

Friday Footnotes: Guanxi; Millennials and Their Taxes; Dewey Have To? | 12.04.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, career conundrums and obscure audit partner disclosure requests to Open Items. Auditor independence and guanxi [Paul Gillis] PCAOB […]

Friday Footnotes: CPAs Starting Businesses; Taxing Consumption; Tips for Whistleblowers | 11.20.15

May the footnotes always be in your favor, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, career conundrums and Janice confessions to Open Items. How CPAs can start their own […]

Friday Footnotes: EY Loses; Acquistions; An Audit Partner Hero | 11.13.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, career conundrums and 3-page tax code drafts to Open Items. Ernst & Young Loses Trial Over Audits Linked […]

Friday Footnotes: PCAOB Rebukes BDO; SEC Juking the Stats; Dropping LSD at Work | 11.06.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, elaborate spreadsheets and Marco Rubio's tax plan slams to Open Items. PCAOB Admonishes BDO USA for Quality Control […]

Friday Footnotes: Valeant and VIE; Paul Ryan and Tax Reform; Is Diversity Meaningless? | 10.30.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, Excel art and accountant jokes to Open Items. Valeant and the VIE [China Accounting Blog] Valeant Shows the […]

Friday Footnotes: Fights Over Disclosure and No Charges in IRS Scandal | 10.23.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions, accounting art and tax riddles to Open Items. Investor advocates protest proposals limiting disclosure [MW] Princeton Club's-Ex-Accountant Who […]

Friday Footnotes: Embezzlement; Salary Guides; M&A Audit Problems | 10.16.15

Always read the footnotes, capital market servants. Drop us links and tips over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest. Submit questions and tax haikus to Open Items. How to Become a Senior Associate at PricewaterhouseCoopers [Bloomberg] SEC’s hedge fund […]

Friday Footnotes: Punny Businesses; Enticing Frauds; Clinton Tax Plan or Trump Tax Plan? | 10.02.15

Always read the footnotes, capital market servants. Drop us tips and links over the weekend by hitting the button at the top of the page or emailing us directly. Be sure to follow us on Twitter, Facebook, Pinterest and ask questions in Open Items. Google is now Alphabet or whatever. [WSJ] A Pig Story, Belize […]

Friday Footnotes: New Deals for KPMG, EY; Debating Carried Interest; Blowing Off Stupid Meetings | 09.18.15

Always read the footnotes, capital market servants. Drop us tips and links over the weekend by hitting the button at the top of the page or emailing us directly. Follow us on Facebook, Twitter, Pinterest and use Open Items for PCAOB Chairman write-in candidates. KPMG agrees deal with debt crowdfunding platform InvestDen [Accountancy Age] Jean-Claude […]

Friday Footnotes: Leadership Training Fail; Feedback Phrases to Avoid; Phantom Income | 09.11.15

That's it for us, capital market servants. Email us tips and links over the weekend at editor@goingconcern.com or by hitting the button near the top of the page. Don't forget to follow us on Facebook, Twitter and Pinterest, too. Why the Leadership Industry Has Failed [SGBS] The 9-to-5 Workday as Liberation [T]he boundaries between work […]

Friday Footnotes: KPMG Legal; Elevator Pleasantries; China’s Killer Drivers | 09.04.15

That's it for us, capital market defenders. Enjoy the long weekend (with apologies to some of the tax folks). A reminder that Open Items is never closed, so submit your questions, rants and accounting ballads if the urge strikes. Also follow us on Facebook, Twitter and Pinterest. KPMG legal beats £10m revenue target in first […]

Friday Footnotes: Ulterior Motives in Excess Parental Leave; Corporate Apologies; A New Book on the Big 4 | 08.14.15

Hasta luego, capital market servants. Drop us links, tips, and comp discussion anxiety (talking to you, EY) over the weekend by hitting the button at the top of the page or emailing us directly. You can get our attention on Facebook, Twitter and Pinterest as well. If you'd rather pen something yourself, you may do […]

Friday Footnotes: Accounting for Derivatives; Grant Thornton’s People People; Dealing with Downtime | 08.07.15

Have a great weekend, capital market servants. Send us tips, comp info and epic farewell emails by hitting the button at the top of the page or emailing us directly. Follow us on Facebook, Twitter, Pinterest and post your questions, conundrums and rants in Open Items. FASB Proposes Changes in Accounting for Derivatives [AT] Intent, […]

Friday Footnotes: Marvel and the IRS; Work Less, Accomplish More; The Guy Who Flies for Free | 07.24.15

Have a great weekend, capital market servants. Hit the button at the top of the page to send us tips or email us directly. Don't forget to follow us on Facebook, Twitter and Pinterest. Use Open Items to ask questions, blog on presidential candidate tax policy positions or workshop chapter one of your financial thriller. […]

Friday Footnotes: BDO’s Latest Buy; Zappos’ Culture; Later, Homejoy | 07.17.15

Have a great weekend, revenue rangers and deduction dynamos. Drop us links and tips by hitting the button at the top of the page or emailing us directly. You can hit us up on Facebook, Twitter and Pinterest, too. And remember that Open Items is like 7/11.       BDO USA acquires Cross Fernandez […]

Friday Footnotes: Paternity Leave; The 1st AICPA President; Breaking Mediocrity | 07.10.15

Have a great weekend, double-entry do-gooders. Send us tips, stories and info you think we should know by hitting the button at the top of the page or emailing us directly. And don't forget to follow us on Facebook, Twitter, Pinterest and post your salary sob stories on Open Items. The Feminist Case For Paternity […]

July 4th Weekend Footnotes: Grant Thornton’s Moldova Problem; Bad Accounting Firm Websites; Rihanna’s New Video | 07.02.15

That's it for us, Guardians of the Capital Markets Galaxy. Have a happy and safe 4th of July weekend; it would really suck to lose one of your counting fingers. You can drop us links and tips by hitting the button at the top of the page or emailing us directly. Follow us on Facebook, […]

Friday Footnotes: Gay Marriage Wins; How Uber Conquers; Rand Paul vs. IRS | 06.26.15

Have a great weekend, double-entry mavens. Drop us stories and tips by hitting the button at the top of the page or emailing us directly. Follow us on Facebook, Twitter, Pinterest and write your accounting opus in Open Items. Supreme Court Rules in Favor of Same-Sex Marriage [AT] Sexism & Public Accounting [r/accounting, Earlier] Deloitte […]

Friday Footnotes: Let the Mind Wander; Deloitte Blames Pop Culture; Incivility at Work | 06.19.15

Have a great weekend, stewards of GAAP and titans of tax code. Hug your Dads this weekend (especially if he doesn't like being hugged). Drop us tips by using the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest and show off your spreadsheet artwork in Open […]

Friday Footnotes: Take a Vacation, Get a Promotion?; FedEx and Toshiba Have Fun with Numbers; Well-Liked CEOs | 06.12.15

Enjoy the weekend, capital market servants. Share news or tips with us by hitting the button at the top of the page or emailing us directly. Follow us on Twitter, Facebook, Pinterest and pen your financial reporting thriller short story in Open Items.   Are the People Who Take Vacations the Ones Who Get Promoted? […]

Friday Footnotes: PwC Alamo; CSC Settles; KPMG’s Ignition Center No. 2 | 06.05.15

Have a good weekend, you phony workaholics. Send us tips and stories using that button at the top of the page or email us directly. Post questions and/or take a crack at blogging in Open Items. Like us on Facebook. Follow us on Twitter and Pinterest. Drink more water. Smile at strangers. Get some sleep. Pricewaterhousecoopers sets […]

Friday Footnotes: Big 4 Ups and Downs in Albany; Southern Hospitality With a Twist of Fraud; Tax Extenders Live On (and On and On) | 05.29.15

Have a good weekend, number crunching crusaders. Drop us tips over the weekend by hitting that button at the top of the page or emailing us directly. Don't forget to follow us on Twitter, Facebook, Pinterest and to post questions and tax-inspired haikus in Open Items.   Telecommuting plays bigger role at PwC The employees of […]

Friday Footnotes: Cramming in 8-Ks; A Paystub with Big Numbers; An Enormous CPA Tattoo | 05.22.15

Have a great Memorial Day Weekend, capital market servants. We'll see you back here on Tuesday. You can always send us tips over the weekend using the button at the top of page or by emailing us. You can get our attention on Twitter and Facebook too and remember that Open Items is always, uh, […]

Friday Footnotes: Toshiba Expands Probe; More on Hertz; New Deputy Chief Accountant | 05.15.15

Have a good weekend, capital market servants. Send us tips using the button at the top of the page or email us directly. Follow us on Twitter, Facebook, Pinterest and remember that Open Items is like 7-11.  Toshiba sets up new panel to expand accounting probe [Reuters] Hertz Accounting Fix Keeps CFO in Financial No-Man’s […]

Friday Footnotes: Recovering From Work Outbursts; Auditors and Shoes; Words to Eliminate | 05.08.15

Don't forget Mother's Day this weekend, capital market servants. Also, remember to follow us on Facebook, Twitter and that Open Items is never closed. This is what CEOs give (and get) on Mother's Day [Fortune] Recovering from an Emotional Outburst at Work [HBR] ‘Game of Thrones’ Leadership Lessons for the Office [Speakeasy/WSJ] Tesla's Battery Grabbed $800 Million […]

Friday Footnotes: More AMA with Halliburton Whistleblower; Disrupting Lease Accounting; Nice Dadbod | 05.01.15

Have a great weekend, capital market servants. I'll be on vacation for most of next week but you'll still get content from the likes of Greg, Leona and others. Send tips and stuff we should know to our inbox, follow us on Twitter, Facebook and remember that Open Items is like 7-11. Reddit Recap: A Q & A […]

Friday Footnotes: Halliburton Whistleblower AMA; Madoff Suit Against PwC Back From Dead; Tax Freedom Day | 04.24.15

See you Monday, capital market servants. Drop us news or tips over the weekend via email, plus follow GC on Twitter and Facebook and don't forget that Open Items is the 7-11 of the accounting world.   I am a Halliburton Whistleblower. I fought them for 9 years and (eventually) won. Ask Me Anything. [r/IAmA] Why U.S. Investors May Owe […]

Friday Footnotes: PwC Settles Over MF Global; EY on Big Data in Auditing; Late-Night Emails | 04.17.15

PwC to pay $65 million to settle suit over MF Global [WSJ] Post-Busy Season Quiz: What Would You Do Differently? [AWEB] House votes to repeal estate tax [The Hill] Noble Group Shareholders Challenge Management on Accounting [WSJ] New FASB standards keep focus on simplification [JofA] House quietly passes tax exemption for megadonors [Politico] EY Sees […]

Friday Footnotes: Political Tax Returns; Satyam Stigma for PwC?; Workplace Wearables | 04.10.15

It begins. Talked to two accountants about the Obamas' plain vanilla tax returns. Both said they're ready for Hillary. — Richard Rubin (@RichardRubinDC) April 10, 2015 Competitors say Satyam verdict will haunt PriceWaterhouseCoopers "Some companies would start looking at audit rotation in next six-months, and a mere reminder of Satyam around the same time could make […]

Footnotes: PCAOB Sanctions Five Auditors; Work/Life Is a Joke; Soft Sexism at the Office | 04.02.15

That's it for us this week. Enjoy a long weekend if you can and we'll see you back here on Monday. The lights are always on over at Open Items if you need to get something off your chest and if you bump into any chatty accounting firm CFOs, email us. FASB Plans Further Accounting Simplification Projects [AT] […]

Friday Footnotes: Maine Gov’s Stand Against King; IT Nightmares; New Google CFO’s Comp Package | 03.27.15

Ex-accountant of famous Princeton Triangle Club admits $240K theft [NJ.com] LePage: I didn’t say Stephen King doesn’t pay taxes, so no apology [PPH] Gun owned by agent who toppled Capone headed to Vegas museum Stored for decades in attics, closets and a bank safe-deposit box in New Jersey, the gun belonging to former IRS agent […]

Friday Footnotes: Tax Reform, 2017; PwC Hooks Another Big One; Inspiration for Not Getting Anything Done | 03.20.15

Don't forget, GCMMBSP voting on Life and Health  and Work and Potpourri are open through the weekend. Tax Reform Coming, But Not Until 2017 Or ever. [CFO] Former Comptroller General David Walker Joins PwC [AT] There's a Good Reason Why People Really Hate Paying Their Taxes "In a word: corporations." [Smithsonian] FYI. External and internal audit […]

Friday Footnotes: Lawyers Sue Deloitte; Google’s CFO Hunt; A Lost Lotto Ticket | 03.13.15

Ed. note: Sad to report that today is Adrienne's last day at Going Concern. She's been a huge part of the GC community since the beginning and she will be sorely missed. Deloitte sued for $384 million in lawyer class action [TS] AutoNation drops chief accounting officer [AN] Charlotte accountant wins first round in SEC […]

Friday Footnotes: Ferguson Judge’s Unpaid Taxes; BOOM Goes the Accounting; Twister-inspired Tower | 03.06.15

Deloitte Global CEO Salzberg to speak at Mendoza’s graduate program commencement [ND] Ferguson judge behind aggressive fines policy owes $170,000 in unpaid taxes [Guardian] FASB Moving Ahead With Nonprofit Update [CFO] Dynamic Materials (BOOM) Cites Accounting Errors for Delay of Q4, FY14 Report [BOOM] How three South Florida accounting firms used rebranding to streamline their […]

Friday Footnotes: SEC and China; Small Company Audit Fees; Don’t Use TurboTax | 02.27.15

Leonard Nimoy, Spock of ‘Star Trek,’ Dies at 83 [NYT] Robert Benmosche, Former AIG CEO, Dies at Age 70 [Bloomberg] The SEC Caves on China [WSJ] Small Firms Pay Bigger Slice of Revenue in Audit Fees [CFO] Bank of America accounting chief, two directors to step down [Reuters] Bank of England turns up the heat on […]

Friday Footnotes: A Bombable Accountant; Dragging Out Revenue Recognition; Ex-ARCP CAO Drops Whistleblower Lawsuit | 02.20.15

Colorado man says he wanted to bomb accountant, not NAACP headquarters [LAT] Apple Wants to Start Producing Cars as Soon as 2020 [Bloomberg] IASB Member Sees Revenue Rule Delay As Inevitable [CFO] Former American Realty Executive Drops Whistleblower Lawsuit [Bloomberg] Greater Cincinnati's Largest Accounting Firms, 2015 [CBC] PTIN Rules You May Not Have Known [AWEB] […]

Friday Footnotes: DMV Versus IRS, Who Ya Got?; CFOs Get Pushy on Audits; 50 Shades of Leadership Grey Area | 02.13.15

Unfriendly Persuasion by CFOs Could Spur Faulty Audits Per the article: In short, auditors get less paranoid when the pressure’s off. [CFO] HMRC failed to prosecute tycoon over tax evasion Tax inspectors failed to prosecute a wealthy tax cheat who did not submit returns or pay any tax for 24 years, documents seen by BBC […]

Friday Footnotes: Open Your Heart to a Hiring Manager; The Worst Billionaire; Trust No Open Workforce B**ch | 02.06.15

The Open Workforce Presents New Challenges (and Opportunities) for Finance Professionals Can you trust 'em? "The good news is that this new workforce is more mobile, collaborative, agile and open. It allows companies to augment their capabilities or scale-down their operations with unprecedented speed, spurring new ideas while also creating substantial cost savings. But there’s […]

Friday Footnotes: BoMo Gets in the Gender Gap; NASBA At It Again; Queen of IRS Fraud Gets Effed | 01.30.15

Gender Gap = Leadership Gap Read this just for this quote: "Under Moritz's leadership, for example, PwC is making systemic changes so that those who dial down in the middle are not marked forever by those choices. The firm doesn't judge the annual performance of someone who takes four months parental leave using the same […]

Friday Footnotes: Old White Guy Crashes Strong Woman Party; Are You Intuit?; Are You There IRS, It’s Me Margaret | 01.23.15

IRS Watchdog: Elderly and Disabled Taxpayers Not Allowed to Leave Messages Serves 'em right for trying to leave voicemails. [Americans for Tax Reform] What will we do in a world without SkyMall? Well, duh: But now SkyMall’s parent company has filed for bankruptcy. The explanation given to the Wall Street Journal by CEO Scott Wiley […]

Friday Footnotes: A Little More SEC Heel Dragging; Attracting Millennials for Dummies; PwC Gets Ditched | 01.16.15

Why the World Is Freaking Out About Switzerland Today If only people had invested in Beanie Babies… [Slate] Statement from Chair White Directing Staff to Review Commission Rule for Excluding Conflicting Proxy Proposals They're going to have to get back to you on that. [SEC] How to Stay Focused and Engaged in Long Meetings This […]

Friday Footnotes: Chief Accounting Officer Gets Hosed; Getting Desperate For Managers; Fake It Til You Make It | 12.19.14

Prostitute beats off taxman in Oslo court This is marginally SFW depending where you W [The Local] US regulators close small Minnesota bank Is Bank Fail Friday a thing again? [AP] Did Property Mogul ‘Scapegoat’ Chief Accounting Officer? [CFO] Making manager: The key to accelerating a career in public accounting ICYMI: "Young accountants, even those […]

Friday Footnotes: Finding Fraud; Merger Madness; The Sexiest Recruiters | 12.05.14

Man gets prison for failing to pay taxes on drugs [Pensacola News Journal] You can expect strippers masquerading as recruiters at your next Meet the Firms [Daily Mail] Sam is on a roll this week [Twitter] Never mistake process for results. Fact is that fraud is most likely to be discovered through tips than compliance […]

Friday Footnotes: Important Announcements; WTF; Probes on Probes | 10.31.14

Ed. note: So, you guys may or may not have noticed we killed daily Footnotes this week. Obviously you didn't notice it at all since no one complained about it, which only validates our decision. Anyway, Footnotes are now moved to Friday. If you have a problem with this, feel free to complain. Have a […]

Footnotes: Workplace Viruses; Sleep Your Way to the Top; DISMISSED | 10.28.14

Find Out Whether This Unkillable Tracker Is On Your Smartphone [Forbes] Honesty is contagious at work [BND] I will alert the clerk at Homegoods! [Twitter] I came from retail so I have a housewares consulting background 🙂 Goes to show that @DeloitteUS is all about hiring diverse practitioners! — Life at Deloitte (@lifeatdeloitte) October 28, […]