Footnotes: Auditor Resignations, IRS Auctions, and Charitable Organizations | 07.26.12

Facebook Growth Slows Again; Shares Fall 10% [WSJ] Republicans Shouldn’t Cave on the Bush Tax Cuts [Bloomberg] Madoff Trustee Wants Victims to Get More Money [AP] Woman Accidentally Bakes Family’s Entire Life Savings After Husband Hides It in the Oven [Gawker] Trustee in Darren Berg Ponzi case ordered to pay Moss Adams $74K in legal […]

Footnotes: Mistakes Were Made | 07.25.12

Senate Passes Tax Measure With Election in Mind [NYT] Jumping to conclusions, Malcom Gladwell edition [Felix Salmon] Will Accounting Charges Spoil Facebook’s Earnings Debut? The company will incur a massive charge as it lifts restrictions on employee stock in conjunction with its second-quarter IPO. The company has warned that those could result in nearly a […]

Footnotes: An Unemployed Accountant and Other Things Deemed Unnecessary | 07.24.12

Of Crimes and Punishments — And Where Shall Justice Be Found? [Re:Balance] CFO Snapshot: Aon’s Christa Davies [Q:] What was the hardest part of getting the CFO title? [A:] It was convincing myself and others that I wasn’t a fraud because I did not have an accounting degree. [CFO] Accounting firms have no business on Facebook [AFR] IRS […]

Footnotes: Doomed Video Game Companies and Other Tricky Situations | 07.23.12

Libor: What Criminal Charges Are Likely?  [NetNet] Response to the $21 trillion Tax Avoidance Study [Tax Foundation] The Latest News on Tax Fairness [WSJ] Norquist: Bachmann claim 'indefensible' Americans for Tax Reform president Grover Norquist called Michelle Bachmann’s recent claim about Secretary of State aide Huma Abedin “indefensible.” Bachmann alleged recently that Abedin, wife of former Congressman […]

Footnotes: Lincome Tax Planning and Other Silly Things | 07.19.12

Priceless SpongeBob SquarePants Coins Couldn’t Prevent Collapse Of Peregrine Financial Group [DB] U.S. corporate auditor watchdog gains access to Spain [Reuters] You Got the Accounting Job. Now What? At PricewaterhouseCooper [sic], it takes an average of 13 years to become a partner, says Paula Loop, U.S. and global talent leader for the firm. As a person […]

Footnotes: Let’s Just Assume Everything Out of the SEC Is on Delay Until Further Notice | 07.18.12

US SEC delays court action seeking Deloitte China audit papers [Reuters] Grant Thornton chief calls for more action on fraud [Australian]   Baker Tilly slammed by $50 million jury verdict Hit with a $50 million verdict for negligence, Baker Tilly Virchow Krause LLP is suing its insurance carrier for refusing to cover most of the damages […]

Footnotes: Mean Regulators and Other Things That Suck | 07.17.12

Does Not Compute: PFG Head Says Spent Stolen Client Money To Comply With Regulator Demands "The note and the statement, which a person familiar with the situation said were left by Peregrine Chief Executive Russell Wasendorf Sr., blames the fraud on "mean spirited" regulators that dogged his firm, saying they were looking to put firms out […]

Footnotes: The Beginning or the End of IFRS and Other Mysteries | 07.16.12

GAAP / IFRS Convergence — Has the SEC Finally Shut It Down At Last? [Re:Balance] U.S. accounting pushback seen as temporary delay [Reuters] SEC Names Acting Chief Accountant [WSJ] Norquist’s Phantom Army [NYT] Auditors Are Asleep at the Switch on Banks' Risk Controls [AB] Republicans and Democrats Able to Agree That the Other Party’s Tax […]

Footnotes: Your Baby’s Stupid Name and Other Regrettable Choices | 07.13.12

In China, Little Urge to Audit the Auditors [NYT] Bankruptcy and fudged accounting in San Bernardino [Reuters] Wasendorf Fraud At Peregrine Lasted 20 Years, U.S. Says [Bloomberg] CEO Of Collapsed Brokerage Firm Unable To Conceal Sense Of Pride In Explaining How High-Level Scam Went Down [DB] Taxing the Rich, and Missing the Point The President’s […]

Footnotes: Did You Get Hacked Today? | 07.12.12

Yahoo hack reveals most-used passwords [CNET] Obama reflects on his biggest mistake as president [CBS] LePage: IRS headed toward killing people [The Press Herald] IRS Form 1099: God Particle Of The Tax System [Forbes] LIBOR Trickery Just the Tip of the Iceberg [CFO] State auditor uncovers bogus NMFA audit [AP] State auditor Hector Balderas says […]

Footnotes: Porn Stars, Puppies, and PEPCO | 07.11.12

Porn Stars Offer Free BJs to Miami Heat Fans, Cause NBA Lawyers To Stand At Attention [ATL] Romney Says He’ll Release 2011 Tax Return When It’s Ready [Bloomberg] Free the Puppies, Tax a Millionaire The right-wing radio hosts say the call for higher taxes is a socialist plot. There are a few delusional politicians who'd like […]

Footnotes: Give Me Liberty or Give Me $220 Million | 07.10.12

Profiles in Liberty: Grover Norquist, Anti-Tax Warrior [United Liberty] The 27 Companies Most Likely To Have An Accounting Scandal [Business Insider] Maryland Governor Misstates State Tax Comparisons [Tax Foundation] Proposed Bill Squashes Tax-Free Online Shopping [Mashable] MF Global deja vu? $220 million goes missing at futures brokerage [LA Times] "It feels like doomsday at mid-size […]

Footnotes: Failure All Around | 07.09.12

IRS: Don't Forget Tax Credit for Day Camp [AT] What The SEC And PCAOB Fail To Acknowledge About Chinese Fraud [RTA] SEC Shuts Down IFRS Decision Time Line [CW] So It Begins… Tony Nitti: "It’s a cheeky bit of strategy by the President.  By backing off his requirement that any lower and middle class extensions be […]

Footnotes: MIA PwC; More Calls for More of Mitt’s Tax Returns; The Greatest 8-K Ever | 07.06.12

Where Was Auditor PwC When Its Client Barclays Gamed Libor? [AB] DEAR MITT ROMNEY: It's Time To Release All Of Your Tax Returns [BI] AIG Sues U.S. Over Alleged $30.2 Million Tax Overpayment [Bloomberg] House sales not enough; Kenny Stabler owes $265,000 to IRS [MPR] Grover Norquist Pledge Against Taxes Attracts Fewer Republican Candidates [HP] […]