Please ensure Javascript is enabled for purposes of website accessibility
February 2, 2023

Accounting News Roundup: Auditing, Consulting and Credibility; IASB Coming to Connecticut?; Bad Boss Clues | 02.15.11

Bernanke Would Defend Lehman Actions to His `Deathbed’ [Bloomberg]
Federal Reserve Chairman Ben S. Bernanke, in a confidential talk with the commission probing the causes of the financial crisis, said he wo

Bernanke Would Defend Lehman Actions to His `Deathbed’ [Bloomberg]
Federal Reserve Chairman Ben S. Bernanke, in a confidential talk with the commission probing the causes of the financial crisis, said he would defend to his “deathbed” his actions prior to the bankruptcy of Lehman Brothers Holdings Inc. “I will maintain to my deathbed, that we made every effort to save Lehman, but we were just unable to do so because of a lack of legal authority,” Bernanke said, referring to the 2008 failure that intensified a crisis that Bernanke said was the worst in history, according to an 89-page transcript of the interview by the Financial Crisis Inquiry Commission.

5,100 More IRS Agents [WSJ]
As predicted, from the WSJ Op-Ed page, “We doubt this is the kind of fiscal discipline that voters had in mind in November, but it does reflect the mentality of an Administration that assumes it could go a long way to balancing the budget if only fewer Americans shirked their tax bills. The 5,100 extra IRS gumshoes are supposed to chase the $300 billion “tax gap,” the Beltway’s version of the Loch Ness monster that is the difference between what the IRS collects and what Congress thinks Americans owe. It’s about as real as Nessie, though at least with the monster some Scots claim photographic evidence.”

Auditors and Consulting: Claims Of No Conflict Strain Credibility [Re:The Auditors]
Francine McKenna reports that the rebuilding of the Big 4 consulting practices (i.e. Advisory) makes for a slippery slope.

IASB Parent Org. Opens Regional Office In Tokyo; Could Norwalk Be Next? [FEI Blog]
There goes the neighborhood.

Deloitte: Text Messaging Still Far More Popular Than Mobile Twitter, Other Social Networks [MobileCrunch]
“[R]eports of the text message’s demise have been grossly exaggerated.”

How to Quit Your Job [HBR]
First, you march in so-and-so’s office but then what?

Five Signs You’re a Bad Boss [WSJ]
Do you send lots of one-word emails? That would be strike one.

Nasdaq CFO leaves for buyout firm Carlyle [Reuters]
Transatlantic exchange operator Nasdaq OMX Group Inc has lost its chief financial officer Adena Friedman, who is quitting to take the same position at Washington, D.C.-based private equity firm Carlyle Group.

New tax blues for ‘American Idol’ winner Ruben Studdard [Tax Watchdog]
The man needs a good career to fall back on…like some people.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]