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Friday Footnotes: Accounting’s Big Lie; BDO Poaching; EY Partners Get Whipped | 10.07.22

Going Concern

Financial Reporting Council (FRC) on Thursday announced it opened an investigation into accounting firm Mazars regarding its audit of financial statements at Studio Retail Group. Private company CFOs grapple with new lease accounting [ CFO Dive ]. And that data needs to be clear, dependable, and verifiable.

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Friday Footnotes: AI Trash Talks Big 4 Firms, Academics Apologize; EY Partner Took $700k in Naughty Money | 11.3.23

Going Concern

Aspects of Proposed Accounting Standards Update (ASU) No. 30, 2023, deadline—coming from big companies, and groups like the Retail Industry Leaders Association (RILA), Financial Executives International’s (FEI) Committee on Corporate Reporting (CCR), and the U.S. I think I was 26 years old,” he added. Who knows!

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Monday Morning Accounting News Brief: EY Wants to Buy; Losers Dump NFTs For Tax Purposes; CPA Demand in 2031 | 1.9.23

Going Concern

Deloitte announced today that Anna Taylor — former tax and economic policy principal advisor to Senate Majority Leader Chuck Schumer (D-N.Y.) — has joined Deloitte’s Washington National Tax practice as the deputy managing principal of the Tax Policy Group.

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SEC Reignites Supply Chain Finance Debate

PYMNTS

Reports in Bloomberg Tax this week said SEC Corporation Finance Deputy Chief Accountant Lindsay McCord spoke Tuesday (Dec. 10) during the American Institute of CPA’s (AICPA) annual conference, held in Washington D.C. Supply chain financing, also known as reverse factoring, is rarely disclosed on financial statements, said Moody’s.

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Friday Footnotes: Sleazy PwC Partner Leaves; No You Can’t Claim a Boob Job; PCAOB Scholars | 7.15.22

Going Concern

SEC’s Gensler Casts Doubt on Prospects for China Audit Deal [ Wall Street Journal ] Securities and Exchange Commission Chairman Gary Gensler expressed doubt Wednesday that negotiators in Washington and Beijing will reach an agreement over audits that is necessary to prevent Chinese companies from being delisted by U.S. stock exchanges.

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Friday Footnotes: EY Cancels Christmas; A Very Sucky PwC Report; Should We Tax Robots? | 12.23.22

Going Concern

Instead of a wonky rundown of new standards, the head Financial Accounting Standards Board stressed the board’s commitment to the end users of its rules—the investors who read corporate financial statements. The post Friday Footnotes: EY Cancels Christmas; A Very Sucky PwC Report; Should We Tax Robots?

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[11/11/21 NEW] Interview of Baruch Lev with The Soul of the Enterprise

Baruch Lev

He was last on back in July 2016 and we discussed his book, The End of Accounting and the Path Forward for Investors and Managers. We talk more about that book and his more recent article in Accounting Today, The sad state of accounting standards. Ron’s Questions: Segment One. Can you explain what you found?

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