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Skeptical CPA: The Guilty CPA

Sat, 05 Dec 2009 10:46:00 -0500

"David Friehling, a former accountant, pleaded guilty to fraud and other charges in connection with his auditing work for the firm of convicted swindler Bernard Madoff. However, Mr. Friehling denies knowing anything about the underlying Ponzi scheme. Instead, Mr. Friehling, 49 years old, said he failed to conduct independent audits" [...]

TaxProf Blog: 1/3 of Tax Returns Filed Pay Zero Tax (and 1/2 of Those Get "Refunds")

Sat, 05 Dec 2009 09:00:00 -0500

The Tax Foundation reported yesterday that 46.6 million people who filed tax returns in 2007 had a zero or negative tax liability -- 32.6% of the 143.0 million tax returns filed. In about half of these cases, substantial additional money was "refunded" to the tax filer. 15 million people do... [...]

TaxProf Blog: TIGTA Submits Semiannual Report to Congress

Sat, 05 Dec 2009 06:10:00 -0500

The Treasury Inspector General for Tax Administration yesterday submitted its Semiannual Report to Congress: I am pleased to submit this Semiannual Report to Congress, highlighting the Treasury Inspector General for Tax Administration’s many accomplishments in promoting its mission to provide oversight of the IRS and protect the integrity of Federal... [...]

TaxProf Blog: Lahav: Why Did Israeli Law Faculties Come to Resemble Elite U.S. Law Schools?

Sat, 05 Dec 2009 05:00:00 -0500

Pnina Lahav (Boston University) has posted American Moment[s]: When, How, and Why Did Israeli Law Faculties Come to Resemble Elite U.S. Law Schools?, Theoretical Inquiries in Law, Vol. 10, No. 2, Art. 13, 2009. Here is the abstract: Following independence in 1948, the Hebrew University of Jerusalem founded a law... [...]

The Accounting Onion: Going to School on Revenue Recognition

Sat, 05 Dec 2009 03:27:43 -0500

I'm a night owl, but once I hit the sack, I'm out light a light for 8-9 hours. In fact, the two things I would say that I do best are type fast and sleep like a log. One recent night was a rare exception, though. I woke up only [...]

Jr Deputy Accountant: You Can't Fake a Good £. Trust Me.

Sat, 05 Dec 2009 00:36:00 -0500

This story is only tangentially appropriate for me to cover but wtf, how did you expect me to pass this up? I'm on a roll after Jim Bunning and you can pretty much expect this out of me for the next 10 or' [...]

Skeptical CPA: Big 87654 Firm "Angles"

Sat, 05 Dec 2009 10:24:00 -0500

"Deloitte Touche Tohmatsu [D&T] is aiming to redefine how its employees can be socially responsible and to centralize its message about the company's societal obligations. It's part of a larger effort at the accounting giant to push corporate social responsibility up the priority ladder", Alina Dizik at the WSJ, 19 [...]

Sox First: IMF warns to stop paying off polluters

Sat, 05 Dec 2009 00:28:05 -0500

In the lead up to Copenhagen, the International Monetary Fund has produced a report warns about the dangers of over compensating carbon producers by handing out too many free permits. First, there is the problem of foregone revenue. Governments are actually losing money when they hand free permits and, according [...]

Jr Deputy Accountant: Page Me When the Dollar is Dying Again and WTF Happened to Accounting Numbers?!

Sat, 05 Dec 2009 01:16:00 -0500

Then you gotta check my hip cause my beepers on blast
Just got it activated
You ain even gotta ask
So if my phones off you can page my ass
So I guess what is is I'm who I is
N I'm well [...]

re: The Auditors: McKenna To Speak At IIA Chicago 50th Annual Seminar

Sat, 05 Dec 2009 12:58:01 -0500

Save the date. I have been invited to speak twice at the 50th Annual IIA Chicago Chapter Annual Seminar, April 19th, 2010. Conversations Rule: Employees Drive Your Company’s Brand And Add Risk, jointly with Jason Moriber, Director of Strategy & Planning, Wise Elephant and Lessons From The Financial Crisis For Internal Auditors Please check my Speaking page for [...]