Review Comments | 06.23.09

• KPMG Corporate Finance Chief Steps Down – To get to know his family better. That’s nice. [PEHub]
• Deloitte Adds Hedge Fund Heavyweights Schubert, Iler – Deloitte making a strong move into HF biz? [Press Release]
• Grant Thornton LLP collects more than 110,000 cans of food for needy – That’s good. [GT Press Release]
• The Faces of RBI Presented by KPMG to premiere on ESPN2 – Also good. [MLB]
• Forty percent of U.S. junk bonds to default by 2013: BofA – Not so good. [Reuters]

• 15M+ taxpayers could unexpectedly owe taxes – That’s never good. [NYDN]
• GMAC Chief Resigns – The Board was sick of “just one more round of TARP and that’s it” routine. More fun facts here. [WSJ]
• The Return of Bell Bottoms – Homebuyer credits, bell bottoms, and drugs. [Tax Update Blog]
• Battle Lines Drawn Over Who Governs Accounting Rules – FASB…it’s…all…slipping…away… [Compliance Week]

• JDA rolls in with >75 tomorrow so if you’ve got any questions on the CPA Exam, send them to our tips mailbox.
• International Accounting Standards Board has “disgraced itself,” says critic – Can you say that about a knight? [CFOZone]
• Its Future in Limbo, the PCAOB Asks for More Money – Gotta pay those board members. [CFO]
• Hairy Issues: Are You Flaunting Your Heavage? – The Journal does it again. [DB]
• Judge ends Enron shareholder lawsuit against banks – Eight years after the E went down, investors have recovered approximately 30 cents on the dollar. [Reuters]
• Tax Court Allows Nurse to Deduct Cost of University of Phoenix MBA – ‘An MBA degree is different from a degree that serves as foundational qualification to attain a professional license. For instance, this Court had denied deductions for law school expenses, because a law degree qualifies a taxpayer for the new trade or business of being a lawyer.’ [TaxProf Blog]