Comp Watch ’14: KPMG Variable Comp is Out and Some Folks Aren’t Pleased

This just arrived in our inbox this morning, let's skip the formalities and get right to it: FY15 variable comp ranges for us behind-the-scenes slaves were announced today, 12/11. Who are they kidding?...
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Accounting News Roundup: Small Ladies Get Small Sentences; Wal-mart’s Accounting Tricks; Tax Avoidance Problem Solving | 12.11.14

How Wal-Mart Made Its Crumbling China Business Look So Good for So Long [Bloomberg]After years of heralding China as one of its best markets, Wal-Mart (WMT) in August said its performance there was among...
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Going Concern Presents: The Top 5 Open Items of 2014

I know it seems like a long time ago but believe it or not, we launched Open Items this year. Crazy, huh? In the spirit of year in review posts, we humbly present our picks for the top 5 Open Items of...
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Accounting News Roundup: The Auditor Sit n Spin; Child Taxstravaganza; Getting Un-Tough on insider Trading | 11.10.14

Prosecution drops embezzlement charge against accountant due to lack of evidence [MLive]“I’m not saying it didn’t occur, but sometimes you just don’t have enough evidence to convince 12 jurors...
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Luxembourg Leaks All Over EY’s Tax Planning

Last month, we learned about a trove of documents that revealed a creative tax planning strategy on the part of PwC. Now, we're learning the Luxembourgian manuevering wasn't limited to just one Big 4 firm....
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The AICPA Can’t Figure Out Why Record Numbers of Accounting Grads Aren’t Taking the CPA Exam

AICPA President, CEO, and Benevolent Dictator Barry Melancon gave his yearly "state of the profession" address to CPA Letter Daily recently, but we won't bore you too hard with the specifics. We will,...
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If No One Else Will Hire You, Maybe You Should Call Deloitte

This is from Jim Moffatt, Chairman and CEO of Deloitte Consulting, as written in The Hill: "That’s why, in January 2014, my organization, Deloitte, joined more than 300 companies – including 20 members...
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Satyam Founder Sentenced to 6 Months in Prison for Massive, Obvious Fraud

Remember Satyam? That Satyam? Yeah, it's been awhile for us, too. Satyam's PwC India auditors already received a lifetime ban, but what about Satyam's founder? Surely you've been wondering what sort of...
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Accounting News Roundup: PwC Accused of Being a Tax Avoidance Factory; Inversions’ Heyday; McGladrey Acquires Fesnak | 12.09.14

PwC sold ‘tax avoidance on industrial scale’ [FT]This sounds fun: "MPs accused a firm of accountants of 'selling tax avoidance on an industrial scale' on Monday after a tense parliamentary hearing...
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FASB Supports the SEC’s Commitment to Tiptoeing Around IFRS Adoption Indefinitely

This week, the AICPA Conference on Current SEC and PCAOB Developments is going down in Washington and unfortunately I am missing it this year as I'm due in Dallas this week for AccountingWEB Live which...
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