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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

Palos Hills Accountant Indicted In $7.8M Attorney General’s Office for Northern Illinois announced on Wednesday. Specifically, Fulton continued to transfer money between accounts, issue checks and wires to Nix’s gambling clients who won large bets, and helped Nix obtain bank loans to facilitate the gambling business.

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Friday Footnotes: Work-Life Balance, Does It Work?; Big 4 Firms Slash Job Postings; She Doesn’t Even Go Here! | 2.16.24

Going Concern

This is according to the Illinois CPA Society (ICPAS), which surveyed 449 employers and 433 accounting and finance employees last summer and released its results last month. In the past few decades, public accounting firms have implemented work-life balance practices as part of their attempts to curb excessive turnover.

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Friday Footnotes: KPMG Pays High Schoolers 20 Bucks an Hour; Deloitte Cyberattacked Too; IRS on ERC | 7.28.23

Going Concern

INSIDE Public Accounting Releases Its Annual Rankings and Analysis of the Nation’s Largest, Fast-Growing Public Accounting Firms [ INSIDE Public Accounting ] “The labor shortage is a major driver behind the behavior of the IPA 100 firms,” says Charles Hylan, managing director at The Growth Partnership, IPA’s parent company.

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Friday Footnotes: Disengaged Team? Do This; Deloitte’s Huge India Expansion; Auditors Yelled At…Again | 3.24.23

Going Concern

[ Journal of Accountancy ] Pandemic pressures have worn the workforce thin, and the economy is in the thick of rapid, radical change. Many practitioners in public accounting are feeling burned out. He allegedly received a salary and support services from the tax preparation giant while diverting clients to his own business.

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The Talent Pool Is Shrinking

RitaKeller

I received the following press release from the Illinois CPA Society. Is it worth it to become a CPA, in public accounting, when average partner compensation in $5 to $20M firms is half a million? Plus, flexible work arrangements make public accounting very attractive. ” – Victoria Arlen.

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Friday Footnotes: How Much Big 4 Spent on Lobbying Last Year; Super Bowl Bets; CFOs Feeling Good | 2.9.24

Going Concern

‘You gotta pay the piper’ on your winnings, says tax expert [ NBC10 Philadelphia ] All gambling winnings are considered taxable income by the Internal Revenue Service, even if you aren’t a professional gambler. You gotta pay the piper,” Romeo Razi, a certified public accountant based in Las Vegas, tells CNBC Make It.