Several recent developments regarding auditor whistleblowers should be of interest to internal and external auditors and compliance professionals, whether they work for a public company or a professional services provider.
I could not resist writing at Medium.com about the teen trader who recently duped a journalist from New York magazine into believing he had made $72 million trading gold and other alternative assets. It’s not like auditors don’t get fooled every day by fake documents.
“Tax Avoidance On An Industrial Scale” Says British MP About PwC’s Luxembourg Work For AIG And OthersBy Francine • Dec 10th, 2014
British MP Margaret Hodge grilled Kevin Nicholson, of PwC’s UK tax practice, in a Parliament Public Accounts Committee hearing on Monday. You know you’re on your “back foot” when the first thing out of your mouth has to be a denial that you lied under oath. More details about PwC’s tax avoidance scheme for audit client and US government owned AIG.
The University of Notre Dame is conducting a large-scale study to explore accounting graduates’ first full-time employment positions and starting salaries following a degree in accounting. It doesn’t matter how long ago you graduated. All are welcome. Will you help?
Update: The PCAOB is investigating PwC for its tax avoidance advice to Caterpillar, the Wall Street Journal is reporting. One down, more than 100+ PwC audit clients advised via Luxembourg to go…
My latest column at Medium.com responds to PwC’s #LuxLeaks defenses: Illegal docs, legal advice. I also raise the obvious auditor independence issues which no one else is reporting.
Update: This column was linked to by the NYT Public Editor! I published some New York Times numbers over at Forbes.com, “Time Is Running Short For The New York Times”, in anticipation of the company’s 3Q earnings announcement on October 30.
I’m quoted extensively in an October 2014 The Bottom Line piece on the Big Four expansion into full-fledged legal services.
Did you know that each of the Big Four audit firms and some of the next tier also run SEC-registered broker-dealers? You’ll never guess who audits them.
I’m part of a group effort at Medium.com called “Bull Market”. The first two columns are about taxes—the inversionist avoidance kind and one corporation’s horrible allergy to them.