Big Firms Getting Better Grades on Internal Control Audits: PCAOB [CFOJ]
Director of Registration and Inspections Helen Munter doesn't want anyone to get too excited, but, "I am very encouraged by what I saw at certain firms in our 2014 inspections. I think we will begin to see some real improvements in performance and in efficiency coming out of last year into this year and next."
Twitter appoints Robert Kaiden as chief accounting officer [Reuters]
Kaiden is a Deloitte & Touche alum.
In Suit, SEC Says Fake Avon Bid Was Work of Bulgarian [WSJ]
The Commission alleges that Nedko Nedev "was the mastermind behind the bizarre bogus takeover offer for Avon Products Inc." He managed to make only $5k off the scheme.
Guy Who Did Avon Hoax Was Terrible at Hoaxes [BloombergView]
Apparently it doesn't take a "mastermind" to dupe Edgar: "Obviously it is not great that Edgar is so susceptible to false documents. But consider that Nedev's Tower Group hoax, which was done via press release rather than Edgar filing, worked just about as well, which is to say terribly, as his Edgar-based Avon and Rocky Mountain Chocolate hoaxes. Edgar is just an online place to file securities documents; it is not a place to file securities documents vouched for by the SEC."
Waseca accountant gets stiff prison term for cheating clients out of $1.6M [MST]
Roger Goetz Jr. will serve 4.5 years. He was sending client money to his technology company.
Dude can't even show off his new uniform without getting in trouble.