Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Accounting Firm Caught Up in Theft Ring; AICPA’s Latest Project; An Entitled Thief | 08.08.14

PwC US Appoints Terri McClements as Managing Partner of the Washington Metro Market [PR Newswire]
"I look forward to creating opportunities for our people and showcasing PwC's value as an outstanding service provider, employer, and corporate citizen in the D.C. Metro region, from Richmond to Baltimore," noted McClements. "I've had exceptional experiences at PwC, including the opportunity to lead the transformation of PwC's talent strategies in the US and around the world."

IRS Subpoenas Accounting Firm in Major Theft Ring Investigation [TH]
You're going to be highly disappointed when you realize the firm isn't even on the AT Top 100 list.

Accountant 'stole' $3 million from work []
Meanwhile, in Australia: "In one year, Wilson's salary was $141,000 but she allegedly took home $334,000. Her income another year was $292,000 but Wilson allegedly received as much as $711,000. The accountant argues she was entitled to the money."

AAA 2014: What qualities would you like graduating accounting students to have? [ICAEW]
What qualities would you like graduating accounting students to have? This was the question that was asked at a fascinating ICAEW-led session at the AAA on Tuesday morning, entitled ‘Reconsidering critical thinking and moral reasoning in accounting education’.

Taxes a problem with pot [The Columbian]
No way is that his real name: "It looks like stores — and by default their customers — will end up paying a federal tax on the excise tax that already goes to the state, something that many were unaware of until recently. "It's quite possible that this makes retail business untenable," said Brian Budz, one of the owners of New Vansterdam in Vancouver. "There just wouldn't be enough revenue. It could create a really big issue for smaller stores.""

AICPA Tackles How to Improve Private Entity Audit Quality [AWeb]
“EAQ is a holistic effort to consider auditing of private entities – including private companies, not-for-profit organizations, employee benefit plans, and governmental entities – through multiple touch points, especially where quality issues have emerged,” [Barry Melancon] said in a written statement.

Legal Clients Called Him Shlomo; U.S. Calls Him a Fraud [NYT]
It could happen to you: Law enforcement officials say they are not certain who the accused man is; they only know that he is not Mr. Dickerman. The actual Stephen G. Dickerman was a lawyer for more than 40 years, but has not renewed his license since 2008. Court papers say the impostor then used the real Mr. Dickerman’s attorney registration number to set up shop for himself, charging $400 an hour for legal advice.

The America Ahead: How Millennials Will Reshape the National Landscape [Fox Business]
“The Millennials who have been lucky enough to be in the labor market for a while are not doing as well as they should be."

Lawsuit Says Yelp Made Millions Forcing Businesses To Hide Bad Reviews [Valleywag]
I would also like to sue Yelp for forcing me to read countless, rambling missives about first dates when I am just trying to find out if I should eat somewhere or not.